Published 1 Sept 2026, 12:16Subscribers had it 20 minutes earlier, at 11:56

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

ByNewsquawk Staff

UPGRADES:

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

DOWNGRADES

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

INITIATIONS

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

Subscribers had this at 11:56. Published here 12:16.

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Context

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.

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