US BROKER MOVES: ADBE downgraded at William Blair; QCOM downgraded at Bernstein
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Western intel says Russia preparing kamikaze drone shipment to Iran
EU Commission Spokesperson says no current security of gas supply issue in EU
US BROKER MOVES: ADBE downgraded at William Blair; QCOM downgraded at Bernstein
Top US Diplomat in Taiwan says US looks forward to supplying Taiwan with increased volumes of LNG and Crude oil; US stands ready to support Taiwan's energy needs
The Iran war seems likely to scotch the plans of U.S. Electric Aviation startups to launch their first commercial flights in the Middle East this year, via The Information
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UPGRADES
- Airbnb (ABNB) Upgraded to Hold at Truist Secs; PT USD 129
- Equity Residential (EQR) Upgraded to Overweight at Morgan Stanley
- Icon (ICLR) Upgraded to Outperform at BMO; PT USD 130
- Nucor (NUE) Upgraded to Buy at UBS; PT USD 190
- PDD (PDD) ADRs Upgraded to Buy at Huatai Research; PT USD 133
- Somnigroup (SGI) Upgraded to Buy at Jefferies; PT USD 88
- United Natural (UNFI) Upgraded to Overweight at Wells Fargo; PT USD 56
- Westinghouse Air Brake (WAB) Upgraded to Buy at Rothschild & Co Redburn
DOWNGRADES
- Adma Biologics (ADMA) Downgraded to Neutral at Cantor
- Adobe (ADBE) Downgraded to Market Perform at William Blair
- AvalonBay (AVB) Downgraded to Equal-Weight at Morgan Stanley; PT USD 203
- Fiserv (FISV) Downgraded to Market Perform at Raymond James
- Global Payments (GPN) Downgraded to Market Perform at Raymond James
- Great Lakes Dredge (GLDD) Downgraded to Underweight at JPMorgan; PT USD 17
- Hub Group (HUBG) Downgraded to Equal-Weight at Wells Fargo; PT USD 35
- Mosaic (MOS) Downgraded to Neutral at UBS; PT USD 27
- Noah Holdings (NOAH) ADRs Downgraded to Neutral at JPMorgan; PT USD 12
- Qualcomm (QCOM) Downgraded to Market Perform at Bernstein; PT USD 140
- Scotts Miracle-Gro (SMG) Downgraded to Neutral at JPMorgan; PT USD 67
- Ternium (TX) ADRs Downgraded to Sector Perform at Scotiabank; PT USD 40
- Terns (TERN) Downgraded to Market Perform at Citizens
- Terns (TERN) Downgraded to Hold at TD Cowen; PT USD 53
- TIC Solutions (TIC) Downgraded to Underweight at JPMorgan; PT USD 7
- Timken (TKR) Downgraded to Underweight at JPMorgan; PT USD 100
INITIATIONS
- Abercrombie & Fitch (ANF) Initiated at New Buy at Needham; PT USD 108
- Appfolio (APPF) Initiated at New Buy at Benchmark
- ATRenew (RERE) ADRs Initiated at New Outperform at GuoSen; PT USD 7.95
- Bank of America (BAC) Initiated at New Buy at Jefferies
- Bunge Global (BG) Initiated at New Sell at Spruce Point Capital
- Casey's (CASY) Reinstated Neutral at JPMorgan; PT USD 719
- Cava Group (CAVA) Initiated at New Buy at Guggenheim; PT USD 100
- Citigroup (C) Initiated at New Buy at Jefferies
- Compass (COMP) Initiated at New Buy at Benchmark; PT USD 14
- Didi Global (DIDIY) ADRs Initiated at New Outperform at BNP Paribas; PT USD 7.50
- Exelon (EXC) Reinstated Buy at Citi; PT USD 58
- eXp World Holdings (EXPI) Initiated at New Buy at Benchmark
- Frontdoor (FTDR) Initiated at New Buy at Benchmark
- Hesai Group (HSAI) ADRs Initiated at New Outperform at BNP Paribas; PT USD 4.34
- JPMorgan (JPM) Initiated at New Hold at Jefferies
- Murphy USA (MUSA) Reinstated Overweight at JPMorgan; PT USD 539
- Palisade Bio Inc (PALI) Initiated at New Buy at HC Wainwright; PT USD 7
- PNC Financial (PNC) Initiated at New Buy at Jefferies
- Pony AI (PONY) ADRs Initiated at New Neutral at BNP Paribas; PT USD 12.50
- Real Brokerage (REAX) Initiated at New Buy at Benchmark
- Robinhood (HOOD) Initiated at New Buy at Jefferies; PT USD 88
- Rush Street (RSI) Initiated at New Overweight at Wells Fargo; PT USD 26
- Spotify (SPOT) Initiated at New Outperform at Daiwa; PT USD 535
- Sunstone Hotel (SHO) Initiated at New Neutral at Ladenburg Thalmann; PT USD 10
- TJX (TJX) Reinstated Buy at William O'Neil
- Truist Financial (TFC) Initiated at New Underperform at Jefferies
- Tyson (TSN) Initiated at New Outperform at Mizuho Securities; PT USD 72
- U.S. Bancorp (USB) Initiated at New Hold at Jefferies
- Wells Fargo (WFC) Initiated at New Buy at Jefferies
- WeRide (WRD) ADRs Initiated at New Outperform at BNP Paribas; PT USD 11
Context
The downgrades of Adobe (ADBE) and Qualcomm (QCOM) by William Blair and Bernstein, respectively, suggest a more cautious outlook for these firms. Investors may interpret this as a signal to reassess their positions in these stocks, especially if the downgrades come amid broader market trends or sector weaknesses. Keep an eye on how the market reacts to these changes, as downgrades can often precede shifts in investor sentiment or broader industry movements.
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