US BROKER MOVES: AEHR Initiated with a Buy at Jefferies; LUNR upgraded at Stifel

• Capricor Therapeutics (CAPR) Upgraded to Overweight from Neutral at Cantor Fitzgerald; PT USD 28 (prev USD 3.50)
• Didi Global (DIDIY) Upgraded to Outperform from Neutral at Macquarie; PT USD 5 (prev USD 3.80)
• Digital Realty Trust (DLR) Upgraded to Buy from Hold at HSBC; PT USD 240 (prev USD 210)
• Fox Corporation (FOXA) Upgraded to Overweight from Equal Weight at Wells Fargo; PT USD 80
• Fox Corporation (FOXA) Upgraded to Overweight from Neutral at JPMorgan; PT USD 82 (prev USD 70)
• LTC Properties (LTC) Upgraded to Outperform from Sector Perform at RBC Capital; PT USD 45 (prev USD 41)
• Intuitive Machines (LUNR) Upgraded to Buy from Hold at Stifel; PT USD 26 (prev USD 32)
• Minerva Neurosciences (NERV) Upgraded to Buy from Hold at Jefferies; PT USD 10 (prev USD 7.50)
• NYAX Upgraded to Outperform from Market Perform at Keefe, Bruyette & Woods
• Wayfair (W) Upgraded to Outperform from Market Perform at Bernstein SocGen Group; PT USD 125 (prev USD 100)

• ARX Downgraded to Market Perform from Market Outperform at Citizens
• BigBear.ai Holdings (BZAI) Downgraded to Neutral from Buy at DA Davidson; PT USD 1
• Cisco Systems (CSCO) Downgraded to Hold from Buy at HSBC; PT USD 120 (prev USD 137)
• CareTrust REIT (CTRE) Downgraded to Sector Perform from Outperform at RBC Capital; PT USD 43 (prev USD 44)
• Brinker International (EAT) Downgraded to Neutral from Buy at Northcoast
• Globant (GLOB) Downgraded to Neutral from Outperform at Wedbush; PT USD 37 (prev USD 54)
• Inter Parfums (IPAR) Downgraded to Hold from Buy at Berenberg; PT USD 130 (prev USD 113)
• KLC Downgraded to Underweight from Neutral at JPMorgan
• Murphy Oil (MUR) Downgraded to Underweight from Equalweight at Barclays; PT USD 34 (prev USD 38)
• Roku (ROKU) Downgraded to Equal Weight from Overweight at Wells Fargo; PT USD 165
• SoundThinking (SSTI) Downgraded to Hold from Buy at Lake Street
• SoundThinking (SSTI) Downgraded to Market Perform from Market Outperform at Citizens
• T-Mobile US (TMUS) Downgraded to Peerperform from Outperform at Wolfe Research

• Aehr Test Systems (AEHR) Initiated Buy at Jefferies; PT USD 175
• ALVO Initiated Outperform at Evercore ISI
• FRNM Initiated Outperform at Leerink; PT USD 18
• Krystal Biotech (KRYS) Initiated Outperform at RBC Capital; PT USD 400
• Schrödinger (SDGR) Initiated Neutral at UBS; PT USD 19
• SGP Initiated Outperform at Raymond James
• Sandisk (SNDK) Initiated Overweight at JPMorgan; PT USD 2,250
• Energy Fuels (UUUU) Initiated Outperform at BMO Capital; PT USD 18

Batch broker-note roundups of this kind arrive daily and individual ratings rarely move a stock more than a session unless the call is contrarian, a large house is reversing itself, or the thesis rests on a specific catalyst. The more informative reads are the clusters: two houses moving the same name in opposite directions (Inter Parfums cut to Hold at one shop while still Buy at others, Fox lifted by two banks simultaneously) signal a genuine debate and tend to presage further coverage changes, since sell-side ratings drift in herds once one credible house breaks ranks. Price-target cuts paired with upgrades, as in the Intuitive Machines note where the rating rises while the target falls, typically reflect a rebased model after a sharp drawdown rather than fresh conviction, a pattern that recurs in high-beta small caps. Sector-level signals matter more than single names: simultaneous moves across REITs (Digital Realty up, CareTrust down, LTC up) point to within-sector rotation calls rather than an asset-class view. The usual sequence is a modest opening gap in the direction of the call in the named stock, fading within days absent fundamental confirmation, with initiations at large houses carrying more weight than reiterations because they imply a new distribution push to clients.