BROKER MOVES: USB upgraded at Truist; MOS downgraded at JPM

Upgrades: 

  • Joby Aviation (JOBY) Upgraded to Buy at HC Wainwright; PT USD 18
  • Nasdaq Inc. (NDAQ) Upgraded to Buy at TD Cowen; PT USD 106
  • Shoe Carnival (SCVL) Upgraded to Buy at Williams Trading; PT USD 22
  • Spotify (SPOT) Upgraded to Buy at Arete
  • U.S. Bancorp (USB) Upgraded to Buy at Truist Secs; PT USD 66

Downgrades:

  • Arcellx (ACLX) Downgraded to Neutral at Guggenheim; PT USD 115
  • Array (ARRY) Downgraded to Hold at Deutsche Bank; PT USD 9
  • Ategrity Specialty (ASIC) Downgraded to Neutral at Citi; PT USD 27
  • C3.ai (AI) Downgraded to Market Perform at Citizens
  • Clearwater Analytics (CWAN) Downgraded to Sector Perform at RBC
  • Driven Brands (DRVN) Downgraded to Neutral at Piper Sandler; PT USD 12
  • First Solar (FSLR) Downgraded to Hold at Deutsche Bank; PT USD 245
  • Merit Medical (MMSI) Downgraded to Equal-Weight at Wells Fargo
  • Mosaic (MOS) Downgraded to Underweight at JPMorgan; PT USD 24
  • Oddity Tech (ODD) Downgraded to Neutral at JPMorgan; PT USD 16
  • Oddity Tech (ODD) Downgraded to Underweight at Barclays; PT USD 13
  • Oddity Tech (ODD) Downgraded to Inline at Evercore ISI; PT USD 23
  • Oddity Tech (ODD) Downgraded to Hold at Needham
  • PROCEPT BioRobotics (PRCT) Downgraded to Underperform at BofA; PT USD 20
  • RenaissanceRe (RNR) Downgraded to Equal-Weight at Morgan Stanley; PT USD 310
  • Southern Copper (SCCO) Downgraded to Underperform at BofA; PT USD 175
  • Spok Holdings (SPOK) Downgraded to Neutral at B Riley; PT USD 14
  • Tanger (SKT) Downgraded to Neutral at Compass Point; PT USD 38
  • Trade Desk (TTD) Downgraded to Sell at New Street Research; PT USD 17
  • Trade Desk (TTD) Downgraded to Hold at Loop Capital; PT USD 25

Initiations:

  • Builders FirstSource (BLDR) Initiated at New Outperform at William Blair
  • Eikon Therapeutics (EIKN) Initiated at New Underperform at Wedbush; PT USD 7
  • Five Below (FIVE) Initiated at New Outperform at KGI Securities; PT USD 267
  • LeonaBio Inc (LONA) Initiated at New Overweight at Cantor
Context

JPMorgan's downgrade of Mosaic Co (MOS) to Underweight indicates a significant shift in sentiment, likely reflecting concerns over demand or pricing pressures in the agricultural sector. Conversely, U.S. Bancorp (USB) received an upgrade to Buy at Truist, suggesting improved outlook or valuation recovery in the diversified banking space. Market reactions may vary, impacting sector performance and stock correlations accordingly.

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