US BROKER MOVES: ETSY upgraded at Arete; CI downgraded at Deutsche Bank

UPGRADES

• C.H. Robinson (CHRW) Upgraded to Buy at Jefferies; PT USD 200
• California Resources (CRC) Upgraded to Buy at Citi; PT USD 78
• Centene (CNC) Upgraded to Buy at Deutsche Bank; PT USD 80
• Elevance (ELV) Upgraded to Buy at Deutsche Bank; PT USD 498
• Etsy (ETSY) Upgraded to Buy at Arete; PT USD 76
• Humana (HUM) Upgraded to Buy at Deutsche Bank; PT USD 441
• Ovintiv (OVV) Upgraded to Buy at Citi; PT USD 70
• Packaging Corp. (PKG) Upgraded to Buy at UBS; PT USD 248
• Relay Therapeutics (RLAY) Upgraded to Buy at Jones
• Rubrik (RBRK) Upgraded to Outperform at Oppenheimer; PT USD 85
• SM Energy (SM) Upgraded to Outperform at Raymond James; PT USD 55
• Ternium (TX) ADRs Upgraded to Outperform at Bradesco BBI; PT USD 62
• Xponential (XPOF) Upgraded to Outperform at Northland; PT USD 8
• Zegna Group (ZGN) Upgraded to Buy at TD Cowen; PT USD 15

DOWNGRADES

• Cigna (CI) Downgraded to Hold at Deutsche Bank; PT USD 302
• Crown Castle (CCI) Downgraded to Peerperform at Wolfe
• Mister Car Wash (MCW) Downgraded to Dropped Coverage at Raymond James
• Newell Brands (NWL) Downgraded to Underweight at Morgan Stanley; PT USD 3.50
• Northern Oil & Gas (NOG) Downgraded to Hold at Johnson Rice; PT USD 36
• Phreesia (PHR) Downgraded to Equal-Weight at Wells Fargo; PT USD 9

INITIATIONS

• Archrock (AROC) Reinstated Buy at William O'Neil
• Casey's (CASY) Initiated at New Outperform at William Blair
• Driven Brands (DRVN) Reinstated Outperform at Baird; PT USD 18
• Driven Brands (DRVN) Initiated at New Outperform at BMO; PT CUSD 17
• Pinnacle Financial Partners (PNFP) Initiated at New Outperform at Baird
• Putnam New York Tax Exempt Income Fund (PEIBX) ProMIS Neurosciences Initiated at New Buy at Brookline Capital; PT USD 40
• QuickLogic (QUIK) Initiated at New Buy at Needham; PT USD 22
• SAB Biotherapeutics (SABS) Initiated at New Buy at Jefferies; PT USD 11
• X-Energy (XE) Initiated at New Overweight at Cantor; PT USD 38