US BROKER MOVES: META upgraded at JPMorgan; UBER downgraded at Arete
Newsquawk StaffPublished On the live feed at — 16 more headlines followed before this page went public
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European ECB Interest Rate Decision 2.65% vs. Exp. 2.65% (Prev. 2.40%)
European Deposit Facility Rate 2.50% vs. Exp. 2.5% (Prev. 2.25%)
US BROKER MOVES: META upgraded at JPMorgan; UBER downgraded at Arete
Elevance (ELV) says Q3 adj. EPS is tracking positively of prior outlook through July and August driven by favourable benefit expense performance and broad operating execution
[MARKET UPDATE]: Crude rallies, weighing on stocks and T-notes, supporting the dollar on little fresh news but does follow Iranian media echoing earlier reports about Houthis and Bab al-Mandab Strait
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UPGRADES
- Casey's General Stores (CASY) upgraded from Market Perform to Outperform at Raymond James; PT USD 750.00
- Caterpillar (CAT) upgraded from Hold to Buy at Freedom Broker; PT USD 980.00
- Herc Holdings (HRI) upgraded from Neutral to Overweight at JPMorgan; PT USD 175.00 (prev. USD 165.00)
- Kymera Therapeutics (KYMR) upgraded from Peerperform to Outperform at Wolfe Research
- Meta Platforms (META) upgraded from Neutral to Overweight at JPMorgan; PT USD 820.00 (prev. USD 640.00)
- Novartis (NVS) upgraded from Reduce to Hold at HSBC; PT USD 136.00 (prev. USD 123.00)
- Orchestra BioMed (OBIO) upgraded from Neutral to Buy at BTIG; PT USD 10.00
- Paccar (PCAR) upgraded from Sector Perform to Outperform at RBC Capital; PT USD 150.00 (prev. USD 130.00)
- Simmons First National (SFNC) upgraded from Market Perform to Outperform at Keefe, Bruyette & Woods; PT USD 26.00
- Synopsys (SNPS) upgraded from Equal Weight to Overweight at Wells Fargo; PT USD 475.00 (prev. USD 450.00)
- Block (XYZ) upgraded from Hold to Buy at StoneX; PT USD 105.00
- Yum! Brands (YUM) upgraded from Equal Weight to Overweight at Wells Fargo; PT USD 175.00 (prev. USD 165.00)
DOWNGRADES
- Amgen (AMGN) downgraded from Buy to Hold at HSBC; PT USD 425.00 (prev. USD 445.00)
- AngloGold Ashanti (AU) downgraded from Outperform to Market Perform at BMO Capital; PT USD 115.00
- BioCryst Pharmaceuticals (BCRX) downgraded from Outperform to Sector Perform at RBC Capital; PT USD 11.00
- Crescent Capital BDC (CCAP) downgraded from Buy to Neutral at BofA Securities; PT USD 10.25 (prev. USD 13.00)
- Cooper Companies (COO) downgraded from Buy to Neutral at BofA Securities; PT USD 65.00 (prev. USD 80.00)
- Cooper Companies (COO) downgraded from Outperform to Market Perform at William Blair
- Cooper Companies (COO) downgraded from Overweight to Neutral at Piper Sandler; PT USD 59.00 (prev. USD 86.00)
- DNOW (DNOW) downgraded from Buy to Hold at Freedom Broker; PT USD 18.00
- Uber Technologies (UBER) downgraded from Buy to Neutral at Arete; PT USD 74.00
- United Rentals (URI) downgraded from Overweight to Neutral at JPMorgan; PT USD 1,170.00 (prev. USD 1,235.00)
INITIATIONS
- Adagene (ADAG) initiated Buy at Chardan; PT USD 9.00
- Aehr Test Systems (AEHR) initiated Outperform at Oppenheimer; PT USD 120.00
- Adlai Nortye (ANL) initiated Buy at Jefferies; PT USD 31.00
- Amer Sports (AS) initiated Buy at BTIG; PT USD 42.00
- Amer Sports (AS) initiated Equalweight at Morgan Stanley; PT USD 31.00
- Bloom Energy (BE) initiated Buy at Fubon; PT USD 330.00
- Clean Harbors (CLH) initiated Outperform at William Blair
- Clover Health Investments (CLOV) initiated Buy at Deutsche Bank; PT USD 6.00
- Coinbase Global (COIN) initiated Equalweight at Morgan Stanley; PT USD 250.00
- CTS (CTS) initiated Outperform at Barrington Research; PT USD 80.00
- Driven Brands Holdings (DRVN) initiated Underperform at BofA Securities; PT USD 12.00
- FedEx (FDXF) initiated Market Perform at Bernstein SocGen Group; PT USD 133.00
- Fossil Group (FOSL) initiated Buy at Craig; PT USD 12.00
- Knight-Swift Transportation Holdings (KNX) initiated Outperform at Bernstein SocGen Group; PT USD 91.00
- Liftoff (LFTO) initiated Hold at Freedom Capital; PT USD 18.00
- Louisiana-Pacific (LPX) initiated Outperform at Wolfe Research; PT USD 90.00
- 908 Devices (MASS) initiated Buy at Canaccord; PT USD 13.50
- Nike (NKE) initiated Underweight at Morgan Stanley; PT USD 31.00
- Nvidia (NVDA) initiated Overweight at Piper Sandler; PT USD 300.00
- Old Dominion Freight Line (ODFL) initiated Market Perform at Bernstein SocGen Group; PT USD 200.00
- On Holding (ONON) initiated Overweight at Morgan Stanley; PT USD 39.00
- Revolution Medicines (RVMD) initiated Overweight at Morgan Stanley; PT USD 255.00
- Saia (SAIA) initiated Outperform at Bernstein SocGen Group; PT USD 439.00
- StepStone (STEP) initiated Outperform at RBC Capital; PT USD 65.00
- Under Armour (UAA) initiated Underweight at Morgan Stanley; PT USD 4.00
- XPO (XPO) initiated Outperform at Bernstein SocGen Group; PT USD 244.00
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