US BROKER MOVES: HOOD upgraded at Morgan Stanley; PCG downgraded at BofA

• Capricor Therapeutics (CAPR) Upgraded from Neutral to Overweight at Piper Sandler; PT USD 25
• Columbia Banking System (COLB) Upgraded from Neutral to Buy at DA Davidson; PT USD 36
• Robinhood (HOOD) Upgraded from Equalweight to Overweight at Morgan Stanley; PT USD 150
• Hercules Capital (HTGC) Upgraded from Neutral to Buy at UBS; PT USD 18.50
• Nuveen Churchill Direct Lending (NCDL) Upgraded from Neutral to Buy at UBS; PT USD 13
• Park Hotels & Resorts (PK) Upgraded from Market Perform to Outperform at BMO Capital; PT USD 18
• Sempra (SRE) Upgraded from Hold to Buy at Jefferies; PT USD 97
• Tidewater (TDW) Upgraded from Neutral to Buy at BTIG; PT USD 120
• Tempus AI (TEM) Upgraded from Neutral to Overweight at Piper Sandler; PT USD 76
• Timken (TKR) Upgraded from Neutral to Buy at BofA Securities; PT USD 135

• Edison International (EIX) Downgraded from Buy to Neutral at BofA Securities; PT USD 51
• LexinFintech (LX) Downgraded from Buy to Neutral at Citi; PT USD 1.20
• Miami International Holdings (MIAX) Downgraded from Overweight to Equalweight at Morgan Stanley; PT USD 50
• Myriad Genetics (MYGN) Downgraded from Neutral to Underweight at Piper Sandler; PT USD 2
• PG&E (PCG) Downgraded from Buy to Neutral at BofA Securities; PT USD 13
• Xenia Hotels & Resorts (XHR) Downgraded from Outperform to Market Perform at BMO Capital; PT USD 20.50

• Aclaris Therapeutics (ACRS) Initiated at Buy at Canaccord; PT USD 10
• Airbnb (ABNB) Initiated at Buy at Rosenblatt; PT USD 220
• Assembly Biosciences (ASMB) Initiated at Buy at UBS; PT USD 52
• Booz Allen Hamilton (BAH) Initiated at Hold at Jefferies; PT USD 80
• Booking Holdings (BKNG) Initiated at Buy at Rosenblatt; PT USD 245
• BlossomHill Therapeutics (BLSM) Initiated at Buy at Guggenheim; PT USD 30
• BlossomHill Therapeutics (BLSM) Initiated at Buy at H.C. Wainwright; PT USD 35
• BlossomHill Therapeutics (BLSM) Initiated at Outperform at LifeSci Capital; PT USD 32
• BlossomHill Therapeutics (BLSM) Initiated at Overweight at JPMorgan; PT USD 28
• Instacart (CART) Initiated at Neutral at Rosenblatt; PT USD 55
• DoorDash (DASH) Initiated at Buy at Rosenblatt; PT USD 270
• eToro (ETOR) Initiated at Overweight at KeyBanc; PT USD 45
• Expedia (EXPE) Initiated at Neutral at Rosenblatt; PT USD 360
• Interactive Brokers (IBKR) Initiated at Neutral at UBS; PT USD 102
• LPL Financial (LPLA) Initiated at Hold at Truist Securities
• Latigo Biotherapeutics (LTGO) Initiated at Buy at Guggenheim; PT USD 50
• Latigo Biotherapeutics (LTGO) Initiated at Buy at Jefferies; PT USD 50
• Latigo Biotherapeutics (LTGO) Initiated at Buy at Goldman Sachs; PT USD 73
• Latigo Biotherapeutics (LTGO) Initiated at Outperform at Leerink; PT USD 36
• Lyft (LYFT) Initiated at Neutral at Rosenblatt; PT USD 19
• Mobility Global (MBGL) Initiated at Equalweight at Barclays; PT USD 23
• Mettler-Toledo (MTD) Initiated at Sector Perform at RBC Capital; PT USD 1,515
• Nuvectis Pharma (NVCT) Initiated at Buy at Lucid Capital Markets; PT USD 40
• Patrick Industries (PATK) Initiated at Buy at Northcoast; PT USD 121
• Perpetua Resources (PPTA) Initiated at Sector Outperform at Scotiabank
• Rocket Pharmaceuticals (RCKT) Initiated at Buy at Chardan; PT USD 11
• Red Violet (RDVT) Initiated at Buy at Needham; PT USD 90
• Raymond James Financial (RJF) Initiated at Hold at Truist Securities
• Revvity (RVTY) Initiated at Sector Perform at RBC Capital; PT USD 135
• 10x Genomics (TXG) Initiated at Sector Perform at RBC Capital; PT USD 70
• Uber (UBER) Initiated at Buy at Rosenblatt; PT USD 100

A standard daily ratings sweep, but two clusters stand out from the noise. BofA's paired downgrades of PG&E and Edison International look like a single call on California utilities, and sector-wide moves from one house have historically drawn more follow-through than isolated single-name changes, with wildfire liability and regulatory recovery mechanics the recurring driver of prior California utility repricings. Elsewhere, Morgan Stanley's Robinhood upgrade continues a pattern in which retail-flow-sensitive brokers are re-rated with the equity and crypto engagement cycle, and such calls tend to cluster across the peer set, making coverage of Interactive Brokers and the exchanges the natural follow-on. The Rosenblatt initiation slate across online travel and delivery is a coverage launch, and new-desk initiations in past episodes have had a shelf life limited to the first sessions unless the theses diverge sharply from consensus. Paired hotel moves at BMO, upgrading Park while cutting Xenia, read as relative value within the REIT space rather than a sector view. Small-cap biotech initiations and upgrades of this kind are routine and historically move the names briefly before idiosyncratic catalysts take over.