US BROKER MOVES: FN upgraded at Barclays; RIVN downgraded at UBS

• Prologis (PLD) Upgraded to Sector Outperform at Scotiabank; PT USD 146
• Okta (OKTA) Upgraded to Overweight at Stephens
• Nutrien (NTR) Upgraded to Overweight at Morgan Stanley; PT CAD 106.92
• Materion (MTRN) Upgraded to Overweight at KeyBanc; PT USD 161
• Hyatt (H) Upgraded to Buy at Goldman Sachs; PT USD 198
• Global Payments (GPN) Upgraded to Buy at Seaport
• Flywire (FLYW) Upgraded to Buy at Seaport; PT USD 18
• Flex (FLEX) Upgraded to Outperform at Raymond James; PT USD 75
• Fabrinet (FN) Upgraded to Overweight at Barclays; PT USD 537
• ERO Copper (ERO) Upgraded to Buy at Canaccord; PT CAD 48
• CNH Industrial (CNH) Upgraded to Buy at Goldman Sachs; PT USD 13
• CME Group (CME) Upgraded to Buy at TD Cowen
• Cintas (CTAS) Upgraded to Overweight at Wells; PT USD 245
• Check Point Software (CHKP) Upgraded to Overweight at Stephens; PT USD 240
• Adient (ADNT) Upgraded to Buy at UBS; PT USD 30

• Warner Bros Discovery (WBD) Downgraded to Neutral at Guggenheim; PT USD 30
• Vulcan Materials (VMC) Downgraded to Neutral at D.A. Davidson; PT USD 330
• Volaris (VOLARA) ADRs Downgraded to Neutral at JPMorgan; PT USD 11
• V2X (VVX) Downgraded to Hold at Truist
• Stifel Financial (SF) Downgraded to Hold at TD Cowen
• Snap (SNAP) Downgraded to Underperform at BNP Paribas; PT USD 8
• Rivian (RIVN) Downgraded to Sell at UBS; PT USD 15
• Martin Marietta (MLM) Downgraded to Neutral at D.A. Davidson; PT USD 690
• Kraken Sonar (PNG) Downgraded to Sector Perform at National Bank; PT CAD 8.75
• KKR (KKR) Downgraded to Hold at TD Cowen
• Global Payments (GPN) Downgraded to Hold at Deutsche Bank; PT USD 80
• Douglas Emmett (DEI) Downgraded to Sector Perform at Scotiabank; PT USD 12.50
• Coca-Cola Europacific (CCEP) Downgraded to Neutral at BofA
• BlackRock (BLK) Downgraded to Hold at TD Cowen
• Arthur J Gallagher (AJG) Downgraded to Neutral at Cantor; PT USD 282

• Wells Fargo (WFC) Initiated at Market Perform at CICC; PT USD 96
• Versant Media (VSNT) Initiated at Market Perform at Raymond James
• Uber (UBER) Initiated at Outperform at BNP Paribas; PT USD 108
• Telomir Pharmaceuticals (TELO) Reinstated Buy at Rodman & Renshaw
• Snap (SNAP) Initiated at Underperform at BNP Paribas; PT USD 8
• Nextpower (NXT) Reinstated Buy at William O’Neil
• Mira Pharmaceuticals (MIRA) Reinstated Buy at Rodman & Renshaw; PT USD 8
• KLA Corp (KLAC) Initiated at Outperform at Bernstein
• JPMorgan (JPM) Initiated at Outperform at CICC; PT USD 355
• Idacorp (IDA) Initiated at Overweight at Barclays; PT USD 144
• Cn Groupe Dynamite (GRGD) Initiated at Buy at UBS; PT CAD 115
• Coherent (COHR) Reinstated Buy at William O’Neil
• Citigroup (C) Initiated at Outperform at CICC; PT USD 138
• Boyd Group (BYD CN) Reinstated Sector Outperform at Scotiabank; PT CAD 264
• Biomea Fusion (BMEA) Initiated at Buy at Rodman & Renshaw; PT USD 8
• Bank of America (BAC) Initiated at Outperform at CICC; PT USD 62
• Bwx Technologies (BWXT) Reinstated Buy at William O’Neil
• Ascentage Pharma (6855 HK) ADRs Initiated at Buy at Rodman & Renshaw; PT USD 48
• AppLovin (APP) Initiated at Outperform at Evercore; PT USD 835

Today's upgrades and downgrades reflect a mix of bullish and bearish sentiment across various sectors. Notably, Rivian's downgrade to Sell at UBS could indicate skepticism about its growth trajectory, potentially impacting sentiment around EV stocks, while upgrades for companies like Prologis and Hyatt suggest confidence in logistics and hospitality sectors. Pay attention to market reactions to these changes, as they could influence broader trends in investor sentiment and sector allocations.