US BROKER MOVES: STX upgraded at Susquehanna; HPQ downgraded at Barclays
The upgrades and downgrades reflect shifting analyst sentiment, particularly with Seagate Technology (STX) receiving an upgrade to Neutral, suggesting a cautious optimism about its prospects, while HP Inc.
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NEC Director Hassett says they have been in touch with big banks on credit cards, there will be great new "Trump Cards"; does not think legislation will be needed on credit cards
Newsquawk Update: Monday, 19th January 2026 - MLK Day.
US BROKER MOVES: STX upgraded at Susquehanna; HPQ downgraded at Barclays
State Street Corporation (STT) Q4 2025 (USD): Adj. 2.97 (exp. 2.79), Revenue 3.667bln (exp. 3.60bln), NII 802mln (exp. 762.9mln)
US prescriptions for Novo Nordisk's (NOVOB DC) Wegovy pill were 3,071 for the first four days of launch, via IQVIA data
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UPGRADES
- YETI Holdings (YETI) upgraded to Overweight at KeyBanc; PT USD 57
- Seagate Technology (STX) upgraded to Neutral at Susquehanna; PT USD 280
- Rocket Lab (RKLB) upgraded to Overweight at Morgan Stanley; PT USD 105
- PepsiCo (PEP) upgraded to Outperform at BNP Paribas; PT USD 179
- Monster Beverage (MNST) upgraded to Neutral at BNP Paribas; PT USD 77
- MDA Space (MDA) upgraded to Overweight at Morgan Stanley; PT CAD 46
- Honeywell (HON) upgraded to Overweight at JPMorgan; PT USD 255
- Grab Holdings (GRAB) upgraded to Buy at HSBC; PT USD 6.20
- Garmin (GRMN) upgraded to Equal-Weight at Barclays; PT USD 217
- Enbridge (ENB) upgraded to Sector Outperform at Scotiabank; PT CAD 73
- Dave & Buster’s (PLAY) upgraded to Buy at Benchmark; PT USD 30
- Coupang (CPNG) upgraded to Buy at Deutsche Bank; PT USD 25
- BioNTech ADRs (BNTX) upgraded to Buy at Goldman Sachs; PT USD 142
- AutoNation (AN) upgraded to Overweight at JPMorgan; PT USD 235
- Armour Residential (ARR) upgraded to Buy at Jones; PT USD 20.50
DOWNGRADES
- Zegna Group (ZGN) downgraded to Neutral at BofA
- Tractor Supply (TSCO) downgraded to Hold at Truist; PT USD 55
- Sigma Lithium (SGML) downgraded to Hold at Canaccord; PT CAD 20.50
- Shift4 Payments (FOUR) downgraded to Hold at Deutsche Bank
- Petrobras ADRs (PBR) downgraded to Neutral at BTG Pactual; PT USD 15
- Penumbra (PEN) downgraded to Neutral at Citi; PT USD 374
- Penumbra (PEN) downgraded to Neutral at BTIG
- Penumbra (PEN) downgraded to Hold at Nephron; PT USD 374
- Penumbra (PEN) downgraded to Market Perform at Leerink; PT USD 374
- Penumbra (PEN) downgraded to Hold at Truist; PT USD 374
- OneStream (OS) downgraded to Underweight at JPMorgan; PT USD 24
- Molson Coors (TAP) downgraded to Underperform at BNP Paribas; PT USD 40
- MGM Resorts (MGM) downgraded to Underweight at Morgan Stanley; PT USD 33
- Meritage Homes (MTH) downgraded to Neutral at BofA; PT USD 82
- Melco Resorts ADRs (MLCO) downgraded to Neutral at JPMorgan; PT USD 7.70
- Marriott Vacations (VAC) downgraded to Underweight at Morgan Stanley; PT USD 52
- Mach Natural Resources (MNR) downgraded to Sector Weight at KeyBanc
- Kraft Heinz (KHC) downgraded to Underweight at Morgan Stanley; PT USD 24
- J.M. Smucker (SJM) downgraded to Equal-Weight at Morgan Stanley; PT USD 105
- Iridium Communications (IRDM) downgraded to Equal-Weight at Morgan Stanley
- HP Inc. (HPQ) downgraded to Sell at CFRA
- HP Inc. (HPQ) downgraded to Underweight at Barclays; PT USD 18
- Honest Co. (HNST) downgraded to Underweight at JPMorgan
- Hilton Grand Vacations (HGV) downgraded to Equal-Weight at Morgan Stanley
- Fortive (FTV) downgraded to Underweight at JPMorgan; PT USD 57
- EOG Resources (EOG) downgraded to Sector Weight at KeyBanc
- Eastman Chemical (EMN) downgraded to Sector Perform at RBC; PT USD 70
- Devon Energy (DVN) downgraded to Sector Perform at Scotiabank; PT USD 41
- ConocoPhillips (COP) downgraded to Underperform at BofA; PT USD 102
- Clearwater Analytics (CWAN) downgraded to Neutral at D.A. Davidson; PT USD 24.55
- Central Garden & Pet (CENT) downgraded to Underweight at JPMorgan; PT USD 28
- Brown-Forman (BF/B) downgraded to Underperform at BNP Paribas
- Baytex Energy (BTE) downgraded to Hold at TD Cowen; PT CAD 5
- Afya (AFYA) downgraded to Neutral at UBS; PT USD 16
- Acushnet (GOLF) downgraded to Sector Weight at KeyBanc
- 3M (MMM) downgraded to Neutral at JPMorgan; PT USD 182
INITIATIONS
- Vulcan Materials (VMC) initiated at Buy at B. Riley; PT USD 345
- Unity Software (U) initiated at Buy at Freedom Capital; PT USD 52
- Staar Surgical (STAA) resumed at Underweight at Morgan Stanley; PT USD 13
- Martin Marietta (MLM) initiated at Neutral at B. Riley; PT USD 700
- Knife River (KNF) initiated at Buy at B. Riley; PT USD 92
- Hesai Group ADRs (HSAI) initiated at Buy at William O’Neil
- Fabrinet (FN) initiated at Buy at William O’Neil
- Evercore (EVR) initiated at Buy at William O’Neil
- Construction Partners (ROAD) initiated at Neutral at B. Riley; PT USD 117
- Birkenstock (BIRK) initiated at Neutral at Seaport
- Astera Labs (ALAB) initiated at Buy at President Capital Management
- Arm Holdings ADRs (ARM) initiated at Outperform at Haitong
Context
(HPQ) was notably downgraded to Sell, indicating significant concerns about its outlook. Such changes can influence stock performance and investor sentiment, and they often hint at broader trends within their respective sectors, making it crucial to analyze any potential ripple effects on related stocks.
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