US BROKER MOVES: TSLA upgraded at JPM; WMT downgraded at Erste

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Iranian Ambassador tells Tass a special regime for the passage of vessels in the Strait of Hormuz is in place with respect to Russia as a country friendly to Iran

Hamas' delegation has now arrived in Cairo, Egypt for discussion with Palestinian mediators about the gaza agreements second phase, Al Arabiya reports citing sources

US BROKER MOVES: TSLA upgraded at JPM; WMT downgraded at Erste

NBP Minutes from May meeting: Members said inflation in the coming months would primarily depend on fuel prices; outlook for inflation was currently subject to high uncertainty, even in the short term

US PRE-MARKET MOVERS: Mag-7, AVGO, LULU, GIII, COO, U

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UPGRADES

  • AppLovin (APP) Upgraded from Neutral to Outperform at Edgewater Research
  • Broadcom (AVGO) Upgraded to Buy at Erste Group; PT USD 418.91
  • KANZHUN (BZ) Upgraded from Market Perform to Outperform at Bernstein SocGen Group; PT USD 18.00 (prev. USD 16.50)
  • Chipotle Mexican Grill (CMG) Upgraded from Neutral to Overweight at JPMorgan; PT USD 35.00 (prev. USD 38.00)
  • FormFactor (FORM) Upgraded from In Line to Outperform at Evercore ISI; PT USD 155.00
  • Shutterstock (SSTK) Upgraded from Neutral to Buy at Citi; PT USD 7.00
  • Tesla (TSLA) Upgraded from Sell to Hold at Erste Group
  • Tesla (TSLA) Upgraded from Underweight to Neutral at JPMorgan; PT USD 475.00 (prev. USD 145.00)
  • Unity Software (U) Upgraded from Neutral to Outperform at Edgewater Research

DOWNGRADES

  • Cboe Global Markets (CBOE) Downgraded from Buy to Hold at Erste Group
  • CME Group (CME) Downgraded from Buy to Hold at Erste Group
  • CrowdStrike (CRWD) Downgraded from Buy to Hold at Berenberg; PT USD 720.00 (prev. USD 525.00)
  • Fiserv (FISV) Downgraded from Neutral to Underperform at BNP Paribas Exane; PT USD 46.00
  • lululemon athletica (LULU) Downgraded from Buy to Neutral at BTIG
  • lululemon athletica (LULU) Downgraded from Outperform to Underperform at BNP Paribas Exane; PT USD 88.00
  • Suncor Energy (SU) Downgraded from Buy to Neutral at Goldman Sachs; PT USD 72.00
  • Walmart (WMT) Downgraded from Buy to Hold at Erste Group

INITIATIONS

  • Airbnb (ABNB) Initiated with Outperform at CICC, PT USD 165/shr
  • Armstrong World Industries (AWI) Initiated with Hold at Loop Capital
  • Aurora Innovation (AUR) Initiated with Buy at Craig-Hallum, PT USD 18/shr
  • Concentra Group (CON) Initiated with Buy at Goldman Sachs, PT USD 30/shr
  • Coya Therapeutics (COYA) Initiated with Buy at Roth/MKM, PT USD 12/shr
  • Cavco Industries (CVCO) Initiated with Buy at UBS, PT USD 700/shr
  • Comfort Systems (FIX) Initiated with Buy at Erste Group
  • Guardant Health (GH) Initiated with Buy at Goldman Sachs, PT USD 165/shr
  • GRAIL (GRAL) Initiated with Neutral at Goldman Sachs, PT USD 60/shr
  • KYIV (KYIV) Initiated with Equalweight at Morgan Stanley, PT USD 17/shr
  • LifeStance Health (LFST) Initiated with Neutral at Goldman Sachs, PT USD 9/shr
  • MasterBrand (MBC) Initiated with Hold at Loop Capital
  • Natera (NTRA) Initiated with Neutral at Goldman Sachs, PT USD 245/shr
  • Nvidia (NVDA) Initiated with Buy at China Renaissance
  • Onto Innovation (ONTO) Initiated with Buy at Deutsche Bank, PT USD 350/shr
  • Sotera Health (SHC) Initiated with Buy at Goldman Sachs, PT USD 20/shr
  • Skyline Champion (SKY) Initiated with Buy at UBS, PT USD 93/shr
  • Talphera (TLPH) Initiated with Buy at H.C. Wainwright

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