US BROKER MOVES: PGR upgraded at Morgan Stanley; INFY downgraded at HSBC
Daily broker roundups of this size rarely move the tape beyond the names involved; the informational content is concentrated in the unusual, not the routine.
US S&P Global Composite PMI Flash (Jul) 53.6 vs. Exp. 52.3 (Prev. 51.9)
US S&P Global Services PMI Flash (Jul) 53.6 vs. Exp. 51 (Prev. 51.2)
US BROKER MOVES: PGR upgraded at Morgan Stanley; INFY downgraded at HSBC
Canadian New Housing Price Index MoM (Jun) M/M -0.1% vs. Exp. -0.2% (Prev. -0.3%)
Canadian PPI MoM (Jun) M/M -1.4% vs. Exp. -0.4% (Prev. 1.2%)
Open the platform and use it. The whole workspace is free to try, with no signup and no card. When you want the headlines arriving live instead of on a delay, Newsquawk Pro is £24.99 for 7 days.
Upgrades
- Cleveland-Cliffs (CLF) Upgraded to Neutral at BNP Paribas Exane; PT USD 11.50
- Digital Realty Trust (DLR) Upgraded to Buy at TD Cowen; PT USD 222
- Dover (DOV) Upgraded to Outperform at BMO Capital; PT USD 240 (prev USD 255)
- Edwards Lifesciences (EW) Upgraded to Outperform at Leerink; PT USD 101 (prev USD 87)
- Progressive (PGR) Upgraded to Equalweight at Morgan Stanley; PT USD 210 (prev USD 190)
- PayPal (PYPL) Upgraded to Hold at Truist Securities; PT USD 57 (prev USD 44)
Downgrades
- Albertsons (ACI) Downgraded to Market Perform at BMO Capital; PT USD 12 (prev USD 23)
- Albertsons (ACI) Downgraded to Market Perform at Telsey; PT USD 13 (prev USD 22)
- Cheesecake Factory (CAKE) Downgraded to Neutral at Mizuho; PT USD 85 (prev USD 75)
- Flywire (FLYW) Downgraded to Hold at Truist Securities; PT USD 17 (prev USD 18)
- Huntington Bancshares (HBAN) Downgraded to Equalweight at Morgan Stanley; PT USD 19 (prev USD 21)
- Infosys (INFY) Downgraded to Hold at HSBC; PT USD 11.47 (prev USD 14.24)
- Legend Biotech (LEGN) Downgraded to Neutral at UBS; PT USD 28 (prev USD 49)
- Penske Automotive Group (PAG) Downgraded to Equalweight at Morgan Stanley; PT USD 210 (prev USD 190)
- Rollins (ROL) Downgraded to Underweight at Wells Fargo; PT USD 32 (prev USD 46)
- Rollins (ROL) Downgraded to Neutral at JPMorgan; PT USD 45 (prev USD 70)
- Tenable Holdings (TENB) Downgraded to Neutral at UBS; PT USD 37
Initiations
- Mama's Creations (MAMA) Initiated Outperform at William Blair
- Blue Owl Capital Corporation (OBDC) Initiated Buy at Lucid Capital Markets; PT USD 13
The items that stand out are the paired moves: Albertsons drawing two downgrades to Market Perform with price targets cut roughly in half from different shops, and Rollins hit by both Wells Fargo and JPMorgan on the same day. Clustered, same-direction actions from independent desks have historically carried more signal than single calls, since they suggest a shared view of deteriorating fundamentals rather than one analyst's model revision, and in past episodes such clusters have tended to precede further negative revisions rather than mark the end of them. Elsewhere the pattern is the familiar one of target cuts accompanying maintained or only modestly changed ratings, which typically reflects multiple compression or a reset of expectations rather than fresh thesis work. The Progressive upgrade to Equalweight and the Huntington and Penske downgrades at the same house read as relative-value positioning within coverage rather than sector calls. Worth noting is whether the downgraded names confirm with earnings revisions in coming weeks; ratings drift without estimate changes has tended to fade quickly.
Related headlines
- Newsquawk European Market Wrap - 8th September 202614 hours ago
- US Market Wrap: Stocks fall and crude gains amid escalating geopolitics 7 hours ago
- US EQUITY OPEN: US indices open in the red amid downbeat risk tone after Labor Day holiday14 hours ago
- PRE-MARKET AUSTRALIAN, JAPANESE AND SOUTH KOREAN STOCKS NEWS: Samsung Electronics (005930 KS)** - Co. opened an AI chip R&D hub in Yokohama to collaborate with Japanese companies on advanced semiconductor packaging4 hours ago
- US senior Trump administration official says President Trump approved series of proclamations on Canada trade measures, with ban on dairy, most alcohol and motorcycle imports from Canada under Section 338 with restrictions effective in about 3 weeks5 hours ago
- Russia's Kremlin says US President Trump and Russian President Putin spoke on the phone; conversation was open and constructive and lasted one hour.14 hours ago
- [MARKET ANALYSIS] DXY is little changed ahead of inflation data later in the week and despite the US announcing an import ban on some Canadian goods as trade war escalates1 hour ago
- [MARKET ANALYSIS] T-note futures are little changed after yesterday's indecisive mood and with key inflation data due later this week1 hour ago
- [MARKET ANALYSIS] Oil prices are underpinned after US and Iran conducted a fresh round of retaliatory strikes1 hour ago
- CRUDE WRAP: WTI (V6) SETTLES USD 1.55 HIGHER AT USD 93.03/BBL9 hours ago
- US Secretary of State Rubio says that President Trump has a desire to reach an agreement with Colombia on tariffs6 hours ago
- US President Trump says directing the GSA, working with the USTR, to take all necessary steps to remove Canadian-origin products from GSA’s Multiple Award Schedules unless Canada restores full and fair reciprocity for American farmers and companies7 hours ago
- US President Trump reiterates that Iran will never have a nuclear weapon; says blockade against Iran has been effective13 hours ago
- PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: TSMC (2330 TT) plans to adopt ASML’s high-NA EUV lithography equipment for high-volume manufacturing from 20303 hours ago
- US Secretary of State Rubio hoping to wrap up solid trade deals with Colombia, Ecuador, and Peru during visits13 hours ago
- Canada's Trade Minister says Canada is negotiating with Poland to sell nuclear energy tech and LNG13 hours ago
- PBoC sets USD/CNY mid-point at 6.7709 vs Exp. 6.7042 (prev. 6.7804)3 hours ago
- PBoC is expected to set USD/CNY mid-point at 6.7042 (prev. 6.7804)3 hours ago
- NY Fed SCE (Aug): Inflation expectations: One-year 3.6% (prev. 3.6%), 3-year 3.2% (prev. 3.3%), 5-year 3% (prev. 3%). 13 hours ago
- [MARKET ANALYSIS] Asia-Pac stocks trade mixed with the region partially shrugging off the weak US lead following a fresh exchange of US-Iran strikes and escalation in the US-Canada trade war53 min ago
The whole workspace, free to try.
Try it free