US BROKER MOVES: BETA upgraded at Jefferies; MAT downgraded at Citi and JPMorgan
UPGRADES
- BETA (BETA) upgraded from Hold to Buy at Jefferies; PT USD 30
- Clorox (CLX) upgraded from Underperform to Neutral at BNP Paribas Exane
- Monro (MNRO) upgraded from Perform to Outperform at Oppenheimer; PT USD 40
- ArcelorMittal (MT) upgraded from Hold to Buy at Jefferies; PT USD 73.20 (from USD 51.10)
- Radian Group (RDN) upgraded from Market Perform to Outperform at Keefe, Bruyette & Woods; PT USD 42 (from USD 41)
- Spotify (SPOT) upgraded from Accumulate to Buy at IndeRes; PT USD 595 (from USD 590)
- Trade Desk (TTD) upgraded from Sell to Neutral at Edgewater Research
- Tyler Technologies (TYL) upgraded from Neutral to Buy at DA Davidson; PT USD 460 (from USD 510)
DOWNGRADES
- Mattel (MAT) downgraded from Buy to Neutral at Citi; PT USD 16 (from USD 25)
- Mattel (MAT) downgraded from Neutral to Underweight at JPMorgan; PT USD 14 (from USD 23)
- Norwegian Cruise Line (NCLH) downgraded from Overweight to Equalweight at Barclays; PT USD 23
- Noble Corp. (NE) downgraded from Buy to Hold at Fearnley; PT USD 38
- Qualcomm (QCOM) downgraded from Outperform to Neutral at Daiwa Securities; PT USD 140
- Rapid7 (RPD) downgraded from Buy to Hold at Canaccord Genuity; PT USD 10 (from USD 27)
- Saia (SAIA) downgraded from Positive to Neutral at Susquehanna; PT USD 425
- Seadrill (SDRL) downgraded from Buy to Hold at Fearnley; PT USD 43
- NuScale Power (SMR) downgraded from Buy to Hold at TD Cowen
- Millicom (TIGO) downgraded from Sector Perform to Sector Underperform at Scotiabank; PT USD 43
- Trex (TREX) downgraded from Buy to Hold at Benchmark
- Webster Financial (WBS) downgraded from Outperform to Market Perform at Raymond James
- XPO Logistics (XPO) downgraded from Positive to Neutral at Susquehanna; PT USD 210
INITIATIONS
- Constellation Energy (CEG) initiated at Overweight at Barclays; PT USD 356
- Samsara (IOT) initiated at Buy at Goldman Sachs; PT USD 36
- McGrath RentCorp (MGRC) initiated at Overweight at Barclays; PT USD 140
- Prenetics (PRE) initiated at Buy at Roth/MKM; PT USD 36
- Energy Fuels (UUUU) initiated at Buy at Goldman Sachs; PT USD 30
- AtriCure (ATRC) downgraded from Overweight to Neutral at JPMorgan; PT USD 36 (from USD 48)
- Borr Drilling (BORR) downgraded from Buy to Hold at Fearnley; PT USD 5.60
- BP Plc (BP) downgraded from Hold to Sell at Melius
- Installed Building Products (IBP) downgraded from Buy to Hold at Benchmark
Context
The latest broker moves indicate a mix of upgrades and downgrades, reflecting divergent outlooks for various sectors. Notably, Mattel faces significant downgrades from both Citi and JPMorgan, indicating potential challenges for its stock ahead, while other firms like ArcelorMittal and Clorox are seeing upgrades that suggest stronger performance expectations. This news highlights potential volatility in individual stock prices influenced by broker sentiment, which can impact overall market dynamics.
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