US BROKER MOVES: ILMN upgraded at JPMorgan; NKE downgraded at RBC
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Elevance Health (ELV) says it has a clearer path to resolving the CMS Medicare Advantage sanctions issue after completing the key required steps and submitting the requested data
NBH Minutes (May): One dissentor for a 25bp cut, the rest for unchanged
US BROKER MOVES: ILMN upgraded at JPMorgan; NKE downgraded at RBC
Kemira (KEMIRA FH) cuts FY26 Adj. EBTIDA guidance to between EUR 400-500mln (prev. guided EUR 470-570mln), affirms revenue guidance of between EUR 2.6-3.0bln
Israeli PM Netanyahu says Israel and IDF will continue to act forcefully against Iran and its proxies that threaten the Middle East and the entire world
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UPGRADES
- Western Midstream Partners (WES) Upgraded to Equalweight at Morgan Stanley; PT USD 51
- RenaissanceRe (RNR) Upgraded to Buy at Citi; PT USD 345 (prev. USD 335)
- Pfizer (PFE) Upgraded to Sector Perform at RBC Capital; PT USD 25
- Oscar Health (OSCR) Upgraded to Overweight at Barclays; PT USD 35 (prev. USD 30)
- Illumina (ILMN) Upgraded to Overweight at JPMorgan; PT USD 185
- Global-e Online (GLBE) Upgraded to Buy at Truist Securities; PT USD 39 (prev. USD 34)
- GlobalFoundries (GFS) Upgraded to Buy at Arete; PT USD 95
- Entergy (ETR) Upgraded to Outperform at Evercore ISI; PT USD 121 (prev. USD 115)
- Devon Energy (DVN) Upgraded to Outperform at Evercore ISI; PT USD 54
- CAVA Group (CAVA) Upgraded to Buy at UBS; PT USD 90 (prev. USD 85)
- BorgWarner (BWA) Upgraded to Buy at UBS; PT USD 95 (prev. USD 61)
DOWNGRADES
- Taylor Morrison Home (TMHC) Downgraded to Peerperform at Wolfe Research
- Nuvation Bio (NUVL) Downgraded to Neutral at UBS; PT USD 124 (prev. USD 138)
- Nuvation Bio (NUVL) Downgraded to Neutral at Guggenheim
- Nutrien (NTR) Downgraded to Hold at Berenberg; PT USD 65 (prev. USD 61)
- Nike (NKE) Downgraded to Sector Perform at RBC Capital; PT USD 50 (prev. USD 70)
- Hess Midstream (HESM) Downgraded to Underweight at Morgan Stanley; PT USD 38
- Bill Holdings (BILL) Downgraded to Hold at Truist Securities
INITIATIONS
- Solid Power (SLDP) Initiated at New Buy at Alliance Global Partners; PT USD 6.75
- Power Integrations (POWI) Initiated at New Buy at Needham; PT USD 90
- indie Semiconductor (INDI) Initiated at New Hold at TD Cowen
- Inhibikase Therapeutics (IKT) Initiated at New Outperform at Oppenheimer; PT USD 5
- Hyliion Holdings (HYLN) Initiated at New Buy at Needham; PT USD 9
- Equity Bancshares (EQBK) Initiated at New Market Perform at Hovde Group
- CalAmp (CAMP) Initiated at New Buy at Chardan; PT USD 6.50
- Barnes & Noble Education (BNED) Initiated at New Outperform at Northland; PT USD 17
- Bel Fuse (BELFB) Initiated at New Overweight at JPMorgan; PT USD 370
- AnaptysBio (ANAB) Initiated at New Buy at H.C. Wainwright; PT USD 95
- ADMA Biologics (ADMA) Initiated at New Outperform at Raymond James; PT USD 21
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