US BROKER MOVES: FSLR upgraded at KeyBanc; RBLX downgraded at Jefferies
A standard daily broker roundup, and the market-moving content in these lists is almost never the headline pair.
US BROKER MOVES: FSLR upgraded at KeyBanc; RBLX downgraded at Jefferies
Paramount Skydance (PSKY) announces extension of expiration dates and other modifications of previously announced exchange offers and tender offers
Mediators expected to hold separate talks with US and Iran on Monday or Tuesday, with Iran Foreign Minister Araghchi and Qatari mediators remaining in the US, according to sources
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UPGRADES
- Advanced Energy Industries (AEIS) upgraded from Underweight to Equal Weight at Barclays; PT USD 14.00
- CF Industries (CF) upgraded from Sell to Neutral at Rothschild Redburn; PT USD 110.00 (prev. USD 98.00)
- First Solar (FSLR) upgraded from Underweight to Sector Weight at KeyBanc
- Liberty Energy (LBRT) upgraded from Equal Weight to Overweight at Barclays; PT USD 27.00
- Park Hotels & Resorts (PK) upgraded from Market Perform to Strong Buy at Raymond James; PT USD 19.00
- Royal Caribbean Group (RCL) upgraded from Hold to Buy at Deutsche Bank; PT USD 299.00
- Royal Caribbean Group (RCL) upgraded from Neutral to Buy at BofA Securities; PT USD 330.00
- Sweetgreen (SG) upgraded from Equal Weight to Overweight at Wells Fargo; PT USD 11.00
- Teleflex (TFX) upgraded from Neutral to Buy at BofA Securities; PT USD 158.00 (prev. USD 145.00)
DOWNGRADES
- Braskem (BAK) downgraded from Buy to Hold at HSBC; PT USD 1.50 (prev. USD 6.50)
- BlackLine (BL) downgraded from Neutral to Underperform at DA Davidson
- Manhattan Associates (MANH) downgraded from Buy to Neutral at DA Davidson
- UiPath (PATH) downgraded from Neutral to Underperform at DA Davidson; PT USD 10.00
- Pegasystems (PEGA) downgraded from Buy to Neutral at DA Davidson
- PepsiCo (PEP) downgraded from Buy to Hold at Deutsche Bank; PT USD 138.00 (prev. USD 155.00)
- Roblox (RBLX) downgraded from Hold to Underperform at Jefferies; PT USD 38.00
- RLJ Lodging Trust (RLJ) downgraded from Outperform to Market Perform at Raymond James
INITIATIONS
- Acadia Healthcare (ACHC) initiated Outperform at Raymond James; PT USD 39.00
- Autodesk (ADSK) initiated Overweight at Piper Sandler; PT USD 300.00
- Addus HomeCare (ADUS) initiated Outperform at Raymond James; PT USD 137.00
- Agenus (AGEN) initiated Buy at Rodman & Renshaw; PT USD 19.00
- Aveanna Healthcare (AVAH) initiated Strong Buy at Raymond James; PT USD 15.00
- Bank of America (BAC) initiated Buy at HSBC; PT USD 65.00
- Citigroup (C) initiated Buy at HSBC; PT USD 164.00
- Coinbase Global (COIN) initiated Outperform at Keefe, Bruyette & Woods; PT USD 237.00
- Community Health Systems (CYH) initiated Underperform at Raymond James
- Encompass Health (EHC) initiated Strong Buy at Raymond James; PT USD 150.00
- Fortive (FTV) initiated In Line at Evercore ISI; PT USD 60.00
- Goldman Sachs (GS) initiated Hold at HSBC; PT USD 1007.00
- HCA Healthcare (HCA) initiated Market Perform at Raymond James
- IonQ (IONQ) initiated Buy at BofA Securities; PT USD 60.00
- Jack Henry & Associates (JKHY) initiated Buy at Seaport Global Securities
- JPMorgan Chase (JPM) initiated Hold at HSBC; PT USD 377.00
- LENSAR (LNSR) initiated Buy at Lucid Capital Markets; PT USD 11.00
- Lexicon Pharmaceuticals (LXRX) initiated Overweight at Cantor Fitzgerald
Single-name rating changes from one house tend to fade within the session unless they mark a first mover against consensus or a two-notch jump; the durable signal in roundups of this kind is clustering. Here the clustering is worth noting: DA Davidson taking several application software names down together reads as a sector call rather than stock-specific work, HSBC initiating across the large US banks in one sweep is a coverage launch that sets a fresh house view on the group, and the double upgrade on the same cruise operator from two houses on the same day is the kind of coincident move that historically draws more follow-through than a lone call. Two-notch moves, such as the fertilizer name lifted from Sell to Neutral and the chemicals name cut with a target slashed by a large share, carry more weight than single-step shuffles. The initiations on the money-center banks will be read against existing street consensus for any outlier targets. As with all such rundowns, price targets stated here are as published in the note itself; the follow-on is whether peer houses echo the software downgrades or the cruise upgrades in coming sessions.
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