US BROKER MOVES: IBM upgraded at UBS; KR downgraded at Wells Fargo

UPGRADES

• Array Technologies (ARRY) upgraded from Neutral to Outperform at BNP Paribas Exane; PT USD 19
• Enphase Energy (ENPH) upgraded from Hold to Buy at Jefferies; PT USD 57 (from USD 42)
• IBM (IBM) upgraded from Sell to Neutral at UBS; PT USD 236
• Iovance Biotherapeutics (IOVA) upgraded from Market Perform to Market Outperform at Citizens; PT USD 5
• Lincoln National (LNC) upgraded from Equal Weight to Overweight at Wells Fargo; PT USD 48
• Oracle (ORCL) upgraded from Perform to Outperform at Oppenheimer; PT USD 185
• Principal Financial (PFG) upgraded from Underweight to Equal Weight at Wells Fargo; PT USD 91
• Shoals Technologies (SHLS) upgraded from Underperform to Neutral at BNP Paribas Exane; PT USD 9
• Trex (TREX) upgraded from Hold to Buy at Loop Capital; PT USD 53 (from USD 45)

DOWNGRADES

• Evolent Health (EVH) downgraded from Overweight to Sector Weight at KeyBanc
• Fox Corp (FOX) downgraded from Buy to Underperform at BofA Securities; PT USD 45 (from USD 80)
• Fox Corp (FOXA) downgraded from Buy to Underperform at BofA Securities; PT USD 45 (from USD 80)
• Grocery Outlet (GO) downgraded from Overweight to Equal Weight at Wells Fargo; PT USD 10.50
• Kinsale Capital (KNSL) downgraded from N/A to Underperform at BMO
• Kroger (KR) downgraded from Overweight to Equal Weight at Wells Fargo; PT USD 68
• ONEOK (OKE) downgraded from Outperform to Peerperform at Wolfe Research
• Prudential Financial (PRU) downgraded from Equal Weight to Underweight at Wells Fargo; PT USD 103
• Ryan Specialty (RYAN) downgraded from Outperform to Market Perform at BMO; PT USD 43
• Molson Coors (TAP) downgraded from Neutral to Underperform at BofA Securities; PT USD 42 (from USD 50)
• Thermon (THR) downgraded from Outperform to Market Perform at William Blair
• Tenaris (TS) downgraded from Buy to Hold at Zephirin; PT USD 45 (from USD 42)
• Workday (WDAY) downgraded from Buy to Hold at TD Cowen; PT USD 155 (from USD 200)
• Workday (WDAY) downgraded from Outperform to In Line at Evercore ISI; PT USD 160 (from USD 200)

INITIATIONS

• Angion Biomedica (ANGX) initiated at Buy at B. Riley; PT USD 7
• Aura Biosciences (AUGO) initiated at Overweight at JPMorgan; PT USD 105
• Baker Hughes (BKR) initiated at Buy at Johnson Rice; PT USD 68
• Baldwin Insurance (BWIN) initiated at Buy at TD Cowen
• CEVA (CEVA) initiated at Buy at UBS; PT USD 27
• Hasbro (HAS) initiated at Outperform at BNP Paribas Exane
• Century Therapeutics (IPSC) initiated at Buy at TD Cowen
• Live Nation (LYV) initiated at Overweight at Wells Fargo; PT USD 204
• Mattel (MAT) initiated at Neutral at BNP Paribas Exane; PT USD 17
• Ovintiv (OVV) initiated at Overweight at JPMorgan; PT USD 58
• PepGen (PEPG) initiated at Outperform at Oppenheimer; PT USD 15
• Q32 Bio (QTTB) initiated at Buy at H.C. Wainwright; PT USD 13