BROKER MOVES: ULTA upgraded at Jefferies; NXPI downgraded at Wells

UPGRADES:

• Air Products (APD) Upgraded to Buy at Berenberg; PT USD 350
• American Electric Power (AEP) US Upgraded to Buy at Seaport Global Securities; PT USD 145
• Arcos Dorados (ARCO) Upgraded to Outperform at Grupo Santander; PT USD 14
• Biogen (BIIB) Upgraded to Overweight at Wells Fargo; PT USD 250
• Celldex (CLDX) Upgraded to Overweight at Barclays; PT USD 45
• Ecolab (ECL) Upgraded to Buy at Deutsche Bank; PT USD 325
• JPMorgan (JPM) Upgraded to Accumulate at Phillip Secs; PT USD 335
• Lakeland Industries (LAKE) Upgraded to Buy at DA Davidson; PT USD 14
• Melco Resorts (MLCO) ADRs Upgraded to Outperform at CICC; PT USD 8.20
• Okta (OKTA) Upgraded to Overweight at Barclays
• Oscar Health (OSCR) Upgraded to Hold at Jefferies; PT USD 16
• Plexus (PLXS) Upgraded to Buy at Stifel; PT USD 250
• Texas Instruments (TXN) Upgraded to Hold at Aletheia Capital; PT USD 220
• Ulta Beauty (ULTA) Upgraded to Buy at Jefferies; PT USD 700
• WaterBridge Infrastructure (WBI) Upgraded to Buy at Goldman; PT USD 32
• Wells Fargo (WFC) Upgraded to Buy at Phillip Secs; PT USD 98
• Williams Cos (WMB) Upgraded to Buy at Goldman; PT USD 82

DOWNGRADES:

• Avis Budget (CAR) Downgraded to Underweight at Barclays; PT USD 150
• Centessa Pharmaceuticals (CNTA) ADRs Downgraded to Equal-Weight at Wells Fargo
• Doximity (DOCS) Downgraded to Hold at Truist Secs; PT USD 29
• Edison International (EIX) Downgraded to Neutral at Seaport Global Securities
• Entergy (ETR) Downgraded to Neutral at Seaport Global Securities
• Eversource (ES) Downgraded to Neutral at Seaport Global Securities
• Exelon (EXC) Downgraded to Hold at Jefferies; PT USD 50
• Gitlab (GTLB) Downgraded to Sector Perform at RBC; PT USD 25
• Hess Midstream (HESM) Downgraded to Sell at Goldman; PT USD 32
• Intel (INTC) Downgraded to Neutral at KGI Securities; PT USD 71
• Janux Therapeutics (JANX) Downgraded to Underweight at Barclays; PT USD 14
• Lionsgate Studios (LION) Downgraded to Neutral at Citi; PT USD 12.60
• Mohawk Industries (MHK) Downgraded to Neutral at BofA; PT USD 122
• NXP Semi (NXPI) Downgraded to Equal-Weight at Wells Fargo; PT USD 235
• Qorvo (QRVO) Downgraded to Underperform at Mizuho Securities; PT USD 66
• Schneider National (SNDR) Downgraded to Market Perform at Raymond James
• Skyworks (SWKS) Downgraded to Underperform at Mizuho Securities; PT USD 46
• Southern Co (SO) Downgraded to Neutral at Seaport Global Securities
• Tvardi Therapeutics (TVRD) Downgraded to Underweight at Barclays; PT USD 3
• Westlake Corp (WLK) Downgraded to Hold at Deutsche Bank; PT USD 120

INITIATIONS:

• Candel Therapeutics (CADL) Initiated at New Overweight at Cantor
• Healthcare Realty Trust (HR) Initiated at New Neutral at UBS; PT USD 18
• Healthpeak Properties (DOC) Initiated at New Neutral at UBS; PT USD 17
• Kyndryl (KD) Initiated at New Market Perform at BMO; PT USD 15
• MKS Inc. (MKSI) Reinstated Buy at William O'Neil
• MP Materials (MP) Initiated at New Outperform at Wedbush; PT USD 90
• OptimumBank (OPHC) Initiated at New Buy at Janney Montgomery; PT USD 8
• Primis Financial Corp (FRST) Initiated at New Outperform at KBW; PT USD 17
• Sensei Bio (SNSE) Initiated at New Outperform at Leerink; PT USD 50
• Serve Robotics (SERV) Initiated at New Buy at Guggenheim; PT USD 13
• Thor Industries (THO) Initiated at New Neutral at Seaport Global Securities
• USA Rare Earth (USAR) Initiated at New Outperform at Wedbush; PT USD 29
• Voya Financial (VOYA) Initiated at New Buy at TD Cowen; PT USD 100
• Whirlpool (WHR) Initiated at New Neutral at Mizuho Securities; PT USD 55