US BROKER MOVES: ENPH upgraded at Goldman Sachs; PLD downgraded at Morgan Stanley

• Albemarle (ALB) Upgraded to Buy at HSBC; PT USD 200
• Allegiant Travel (ALGT) Upgraded to Outperform at Wolfe; PT USD 108
• BioMarin (BMRN) Upgraded to Buy at Canaccord; PT USD 98
• Brinker (EAT) Upgraded to Overweight at Morgan Stanley; PT USD 200
• Cinemark (CNK) Upgraded to Buy at MoffettNathanson LLC; PT USD 30
• Compass (COMP) Upgraded to Buy at Deutsche Bank
• Curbline Properties (CURB) Upgraded to Buy at Truist Secs
• Doximity (DOCS) Upgraded to Overweight at Wells Fargo; PT USD 55
• Enphase Energy (ENPH) Upgraded to Buy at Goldman; PT USD 45
• Envista Holdings (NVST) Upgraded to Neutral at Mizuho Securities; PT USD 24
• Ichor (ICHR) Upgraded to Buy at Needham; PT USD 36
• Intel (INTC) Upgraded to Hold at HSBC; PT USD 50
• NNN REIT (NNN) Upgraded to Buy at Deutsche Bank; PT USD 47
• Nova (NVMI) Upgraded to Buy at Needham; PT USD 500
• On Holding (ONON) Upgraded to Buy at Goldman; PT USD 58.50
• Performance Food (PFGC) Upgraded to Overweight at Morgan Stanley; PT USD 123
• Postal Realty (PSTL) Upgraded to Buy at Truist Secs
• Progyny (PGNY) Upgraded to Market Outperform at Citizens; PT USD 30
• PSEG (PEG) Upgraded to Overweight at Wells Fargo; PT USD 92
• Ramaco (METC) Upgraded to Buy at Jefferies; PT USD 30
• Realty Income (O) Upgraded to Buy at Deutsche Bank; PT USD 69
• Regency Centers (REG) Upgraded to Buy at Deutsche Bank; PT USD 83
• ServiceTitan (TTAN) Upgraded to Overweight at Morgan Stanley; PT USD 131
• Shake Shack (SHAK) Upgraded to Overweight at Morgan Stanley; PT USD 125
• Simon Property (SPG) Upgraded to Buy at Deutsche Bank; PT USD 205
• Solstice Advanced Materials (SOLS) Upgraded to Outperform at RBC; PT USD 75
• Solventum (SOLV) Upgraded to Outperform at Mizuho Securities; PT USD 100
• Spotify (SPOT) Upgraded to Buy at President Capital Management; PT USD 620
• Sun Communities (SUI) Upgraded to Buy at Deutsche Bank; PT USD 145
• Sutro Biopharma (STRO) Upgraded to Market Outperform at Citizens; PT USD 23
• Trane Technologies (TT) Upgraded to Outperform at Oppenheimer; PT USD 460
• UDR (UDR) Upgraded to Buy at Truist Secs
• Via Transportation (VIA) Upgraded to Overweight at Morgan Stanley
• Wingstop (WING) Upgraded to Buy at Melius; PT USD 350

• American Assets Trust (AAT) Downgraded to Underweight at Morgan Stanley
• AvalonBay (AVB) Downgraded to Hold at Deutsche Bank; PT USD 172
• AXT (AXTI) Downgraded to Hold at Needham
• Builders FirstSource (BLDR) Downgraded to Equal-Weight at Stephens; PT USD 137
• BWX Technologies (BWXT) Downgraded to Neutral at Seaport Global Securities
• CDW (CDW) Downgraded to Equal-Weight at Morgan Stanley; PT USD 141
• Ciena (CIEN) Downgraded to Neutral at BofA
• Commerce.com (CMRC) Downgraded to Underweight at Morgan Stanley; PT USD 4
• Conoco (COP) Downgraded to Neutral at JPMorgan; PT USD 98
• CubeSmart (CUBE) Downgraded to Hold at Deutsche Bank; PT USD 40
• Domino's Pizza (DPZ) Downgraded to Equal-Weight at Morgan Stanley; PT USD 455
• Eagle Materials (EXP) Downgraded to Equal-Weight at Stephens; PT USD 245
• Edison International (EIX) Downgraded to Underweight at Wells Fargo; PT USD 59
• Equity LifeStyle (ELS) Downgraded to Hold at Truist Secs
• Equity LifeStyle (ELS) Downgraded to Hold at Deutsche Bank; PT USD 65
• Equity Residential (EQR) Downgraded to Hold at Deutsche Bank; PT USD 63
• Exact Sciences (EXAS) Downgraded to Neutral at Mizuho Securities; PT USD 105
• Hawaiian Electric (HE) Downgraded to Underperform at Jefferies; PT USD 12.50
• Idacorp (IDA) Downgraded to Underweight at Wells Fargo; PT USD 118
• Incyte (INCY) Downgraded to Equal-Weight at Wells Fargo; PT USD 107
• Independence Realty (IRT) Downgraded to Hold at Deutsche Bank; PT USD 18
• National Health Investors (NHI) Downgraded to Hold at Deutsche Bank; PT USD 85
• NetApp (NTAP) Downgraded to Underweight at Morgan Stanley; PT USD 89
• Northwestern (NWE) Downgraded to Underweight at Wells Fargo; PT USD 53
• OGE Energy (OGE) Downgraded to Underweight at Wells Fargo; PT USD 39
• Penumbra (PEN) Downgraded to Sector Perform at RBC; PT USD 374
• Penumbra (PEN) Downgraded to Hold at Canaccord; PT USD 374
• Philip Morris (PM) Downgraded to Hold at Jefferies; PT USD 180
• Prologis (PLD) Downgraded to Equal-Weight at Morgan Stanley
• Public Storage (PSA) Downgraded to Hold at Deutsche Bank; PT USD 285
• Regions Financial (RF) Downgraded to Market Perform at KBW; PT USD 31
• Rockwell Automation (ROK) Downgraded to Market Perform at Oppenheimer
• Southern Co (SO) Downgraded to Underweight at Wells Fargo; PT USD 84
• Sun Country Airlines (SNCY) Downgraded to Peerperform at Wolfe
• US Foods Holding (USFD) Downgraded to Equal-Weight at Morgan Stanley; PT USD 92
• W R Berkley Corp (WRB) Downgraded to Sell at TD Cowen; PT USD 55

• Agilent (A) Initiated at New Buy at HSBC; PT USD 180
• Alliant Energy (LNT) Reinstated Overweight at Wells Fargo; PT USD 71
• AtaiBeckley (ATAI) Initiated at New Buy at Guggenheim; PT USD 11
• Brinker (EAT) Initiated at New Buy at TD Cowen; PT USD 192
• Cardinal Infrastructure Group (CDNL) Initiated at New Buy at DA Davidson
• Celanese (CE) Resumed Equal-Weight at Morgan Stanley; PT USD 50
• Clearwater Paper (CLW) Initiated at New Hold at Truist Secs; PT USD 21
• CytomX (CTMX) Initiated at New Buy at Guggenheim; PT USD 10
• GDS Holdings (GDS) ADRs Initiated at New Outperform at CCB Intl; PT USD 51.20
• Helios Technologies (HLIO) Initiated at New Overweight at JPMorgan; PT USD 80
• Off The Hook YS (OTH) Initiated at New Buy at ThinkEquity; PT USD 10
• Opus Genetics Inc (IRD) Initiated at New Buy at BTIG; PT USD 7
• Service Corp (SCI) Initiated at New Overweight at JPMorgan; PT USD 110
• Stubhub (STUB) Initiated at New Sell at Citi; PT USD 13
• Texas Roadhouse (TXRH) Initiated at New Buy at TD Cowen; PT USD 215
• Vnet Group (VNET) ADRs Initiated at New Outperform at CCB Intl; PT USD 15.20
• XP Inc. (XP) Initiated at New Buy at Jefferies; PT USD 22

Goldman Sachs upgrading Enphase Energy (ENPH) to Buy suggests a strongly positive outlook, likely reflecting confidence in the company's growth potential amid favorable market conditions. Conversely, Prologis (PLD) being downgraded to Equal-Weight by Morgan Stanley could indicate concerns about the stock's valuation or growth trajectory, which may lead to a more cautious stance among investors in the real estate sector.