US BROKER MOVES: ON upgraded at BofA; BBY double downgraded at Goldman Sachs
This set of ratings reveals a mix of bullish and bearish sentiment across various sectors.
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[CALENDAR ADDITION] BoE's Taylor (Dove) to give remarks at 14:00BST/09:00EDT on the relationship between macroeconomic policy and economic history - Text Release
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US BROKER MOVES: ON upgraded at BofA; BBY double downgraded at Goldman Sachs
OPEC MOMR (Mar – Incorporates Iranian War): In March, crude oil production by countries participating in the DoC (OPEC+) dropped by 7.70mln BPD M/M, to average about 35.06mln BPD, according to available secondary sources
ECB's de Guindos says the impact from war in Iran will depend on the duration of conflict
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UPGRADES
- Arrow Electronics (ARW) Upgraded to Buy at Truist Secs; PT USD 183
- Avnet (AVT) Upgraded to Buy at Truist Secs; PT USD 80
- Bilibili (BILI) ADRs Upgraded to Overweight at Morgan Stanley; PT USD 31
- Blackstone (BX) Upgraded to Outperform at Oppenheimer; PT USD 154
- Chime Financial (CHYM) Upgraded to Buy at Compass Point; PT USD 27
- Constellation Brands (STZ) Upgraded to Buy at TD Cowen; PT USD 190
- Copa Holdings (CPA) Upgraded to Buy at Goldman; PT USD 138
- CoreWeave (CRWV) Upgraded to Outperform at Macquarie; PT USD 125
- Diodes (DIOD) Upgraded to Buy at Truist Secs; PT USD 98
- ON Semi (ON) Upgraded to Buy at BofA; PT USD 85
- Rexford Industrial (REXR) Upgraded to Outperform at Evercore ISI; PT USD 40
- Starbucks (SBUX) Upgraded to Hold at Jefferies; PT USD 92
- T-Mobile (TMUS) Upgraded to Overweight at KeyBanc; PT USD 260
- Tempus AI (TEM) Upgraded to Buy at TD Cowen; PT USD 65
- Viper Energy (VNOM) Upgraded to Buy at Jefferies; PT USD 55
- Williams-Sonoma (WSM) Upgraded to Buy at Goldman; PT USD 218
DOWNGRADES
- Best Buy (BBY) Downgraded to Sell at Goldman; PT USD 59
- Nebius Group (NBIS) Downgraded to Hold at Freedom Capital; PT USD 154
- Nike (NKE) Downgraded to Hold at HSBC; PT USD 48
- NXP Semi (NXPI) Downgraded to Neutral at BofA; PT USD 230
- Oshkosh (OSK) Downgraded to Neutral at Citi; PT USD 170
- Parsons (PSN) Downgraded to Neutral at Baird; PT USD 60
- Petco (WOOF) Downgraded to Neutral at Goldman; PT USD 3.83
- Replimune (REPL) Downgraded to Sell at HC Wainwright
- Replimune (REPL) Downgraded to Neutral at Wedbush; PT USD 2
- Replimune (REPL) Downgraded to Market Perform at Leerink; PT USD 2
- Replimune (REPL) Downgraded to Underweight at JPMorgan; PT USD 10
- Replimune (REPL) Downgraded to Underperform at BMO; PT USD 1
- Replimune (REPL) Downgraded to Neutral at Cantor
- Replimune (REPL) Downgraded to Neutral at Piper Sandler; PT USD 4
- Whitestone REIT (WSR) Downgraded to Neutral at Cantor; PT USD 19
INITIATIONS
- Adobe (ADBE) Initiated at New Neutral at BTIG
- Biohaven (BHVN) Reinstated Buy at Canaccord; PT USD 21
- Caris Life Sciences (CAI) Initiated at New Buy at Jefferies; PT USD 28
- Chime Financial (CHYM) Initiated at New Overweight at Wells Fargo; PT USD 25
- Coherent Corp (COHR) Initiated at New Buy at William O'Neil
- Credo Technology (CRDO) Initiated at New Buy at Jefferies; PT USD 175
- Figma (FIG) Initiated at New Neutral at BTIG
- Generate Biomedicines (GENB) Initiated at New Buy at HC Wainwright; PT USD 16
- Janus Living (JAN) Initiated at New Overweight at Cantor; PT USD 27
- Johnson Controls (JCI) Initiated at New Inline at Evercore ISI; PT USD 155
- Luckin Coffee (LKNCY) ADRs Initiated at New Strong Buy at Huachuang; PT USD 47.67
- Rollins (ROL) Initiated at New Hold at Loop Capital; PT USD 56
- SiNtx Technologies Inc (SINT) Initiated at New Buy at HC Wainwright; PT USD 10
- Sonida Senior Living (SNDA) Initiated at New Overweight at Cantor; PT USD 36
- Stryker (SYK) Initiated at New Outperform at Leerink; PT USD 410
- Tempus AI (TEM) Initiated at New Underperform at Jefferies; PT USD 35
- Veracyte (VCYT) Initiated at New Buy at Jefferies; PT USD 45
- Yum China (YUMC) Reinstated Accumulate at Zhongtai Securities
- Zimmer Biomet (ZBH) Initiated at New Market Perform at Leerink; PT USD 101
Context
Notably, ON's upgrade at BofA suggests growing confidence in that company, while Best Buy's double downgrade could signal ongoing concerns about consumer electronics demand. These revisions could ripple through their respective sectors, influencing trading strategies and market sentiment.
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