US BROKER MOVES: AIG upgraded at Piper Sandler; TRV downgraded at Morgan Stanley

UPGRADES

Arthur J. Gallagher (AJG) Upgraded to Overweight at Piper Sandler; PT USD 276 (prev USD 225)
AMC Entertainment (AMC) Upgraded to Buy at Texas Capital Securities; PT USD 3
CAVA Group (CAVA) Upgraded to Overweight at Morgan Stanley; PT USD 90 (prev USD 86)
CNX Resources (CNX) Upgraded to Hold at Truist Securities; PT USD 35
Digital Realty Trust (DLR) Upgraded to Buy at Guggenheim; PT USD 200
Powell Industries (POWL) Upgraded to Buy at GLJ Research; PT USD 427
Tenaris (TS) Upgraded to Equalweight at Morgan Stanley; PT USD 65 (prev USD 53)

DOWNGRADES

Ambev (ABEV) Downgraded to Sector Perform at Scotiabank
American International Group (AIG) Downgraded to Neutral at Piper Sandler; PT USD 80 (prev USD 88)
Allstate (ALL) Downgraded to Neutral at UBS; PT USD 261 (prev USD 255)
Aon (AON) Downgraded to Neutral at Piper Sandler; PT USD 377 (prev USD 355)
The Chefs' Warehouse (CHEF) Downgraded to Equalweight at Morgan Stanley; PT USD 97 (prev USD 83)
Check Point Software (CHKP) Downgraded to Market Perform at Raymond James
Element Solutions (ESI) Downgraded to Neutral at Mizuho; PT USD 45 (prev USD 54)
Evofem Biosciences (EVO) Downgraded to Hold at TD Cowen; PT USD 2 (prev USD 4)
The Hartford (HIG) Downgraded to Neutral at Piper Sandler; PT USD 146 (prev USD 148)
IBM (IBM) Downgraded to Perform at Oppenheimer
PagSeguro Digital (PAGS) Downgraded to Neutral at BofA Securities; PT USD 10 (prev USD 12)
Pentair (PNR) Downgraded to Sector Perform at RBC Capital; PT USD 74 (prev USD 101)
StoneCo (STNE) Downgraded to Neutral at BofA Securities; PT USD 13 (prev USD 23)
TriCo Bancshares (TCBK) Downgraded to Equal Weight at Stephens; PT USD 54
TransDigm Group (TDG) Downgraded to Equalweight at Morgan Stanley; PT USD 1,345 (prev USD 1,680)
Travelers (TRV) Downgraded to Underweight at Morgan Stanley; PT USD 290 (prev USD 333)

INITIATIONS

Agree Realty (ADC) Initiated Outperform at Huntington; PT USD 84
ArcBest (ARCB) Initiated Market Outperform at Citizens; PT USD 180
C.H. Robinson Worldwide (CHRW) Initiated Market Outperform at Citizens; PT USD 235
CSX (CSX) Initiated Market Perform at Citizens
Covenant Logistics Group (CVLG) Initiated Market Outperform at Citizens; PT USD 60
Expeditors International (EXPD) Initiated Market Perform at Citizens
FedEx (FDX) Initiated Market Outperform at Citizens; PT USD 375
FTAI Aviation (FTAI) Initiated Market Outperform at Citizens; PT USD 375
Global Net Lease (GNL) Initiated Market Perform at Huntington; PT USD 10
Gladstone Commercial (GOOD) Initiated Market Perform at Huntington; PT USD 13
GXO Logistics (GXO) Initiated Market Outperform at Citizens; PT USD 80
J.B. Hunt Transport Services (JBHT) Initiated Market Perform at Citizens
Knight-Swift Transportation (KNX) Initiated Market Outperform at Citizens; PT USD 90
Lantronix (LTRX) Initiated Buy at Jones Trading; PT USD 12
Pharvaris (PHVS) Initiated Overweight at Wells Fargo; PT USD 55
Ryder System (R) Initiated Market Perform at Citizens
Ring Energy (REI) Initiated Buy at BofA Securities; PT USD 2
Rollins (ROL) Initiated Neutral at Citi; PT USD 46
RXO (RXO) Initiated Market Perform at Citizens
Tango Therapeutics (TNGX) Initiated Overweight at JPMorgan; PT USD 46
U-Haul Holding (UHAL) Initiated Market Outperform at Citizens; PT USD 90
Unusual Machines (UMAC) Initiated Buy at H.C. Wainwright; PT USD 42
Union Pacific (UNP) Initiated Market Outperform at Citizens; PT USD 350
UPS (UPS) Initiated Market Perform at Citizens
Veracyte (VCYT) Initiated Overweight at Piper Sandler; PT USD 66
Wabash National (WNC) Initiated Market Outperform at Citizens; PT USD 25
XPO (XPO) Initiated Market Perform at Citizens