US BROKER MOVES: TXN upgraded at Mizuho; EXC downgraded at multiple firms after PECO withdrawal

UPGRADES

• Chevron (CVX) Upgraded to Outperform at BNP Paribas
• Exxon (XOM) Upgraded to Neutral at BNP Paribas; PT USD 165
• Lufax (LU) ADRs Upgraded to Neutral at JPMorgan; PT USD 2
• Onto Innovation (ONTO) Upgraded to Buy at Stifel; PT USD 350
• Postal Realty (PSTL) Upgraded to Outperform at BMO; PT USD 23
• Quaker Houghton (KWR) Upgraded to Buy at Seaport Global Securities
• Texas Instruments (TXN) Upgraded to Neutral at Mizuho Securities

DOWNGRADES

• Agree Realty (ADC) Downgraded to Market Perform at BMO; PT USD 86
• Albemarle (ALB) Downgraded to Neutral at Baird; PT USD 210
• Apellis Pharma (APLS) Downgraded to Equal-Weight at Wells Fargo; PT USD 41
• Camtek/Israel (CAMT) Downgraded to Hold at Stifel; PT USD 185
• Clorox (CLX) Downgraded to Underweight at JPMorgan; PT USD 99
• Exelon (EXC) Downgraded to Neutral at Mizuho Securities; PT USD 48
• Exelon (EXC) Downgraded to Market Perform at BMO; PT USD 49
• Exelon (EXC) Downgraded to Equal-Weight at Barclays; PT USD 49
• Floor & Decor (FND) Downgraded to Underperform at BofA; PT USD 45
• Fluence Energy (FLNC) Downgraded to Sell at UBS; PT USD 8
• Global Net Lease (GNL) Downgraded to Market Perform at BMO; PT USD 10
• Newmont Corp (NEM) Downgraded to Sector Perform at National Bank; PT USD 130
• NXP Semi (NXPI) Downgraded to Underperform at Mizuho Securities
• Soleno (SLNO) Downgraded to Equal-Weight at Wells Fargo; PT USD 53

INITIATIONS

• Amneal Pharma (AMRX) Initiated at New Buy at UBS; PT USD 19
• Boeing (BA) Initiated at New Equal-Weight at Oxcap; PT USD 222
• Corvus Pharmaceuticals (CRVS) Initiated at New Buy at Goldman; PT USD 40
• Critical Metals (CRML) Initiated at New Buy at Texas Capital; PT USD 20
• Definium Therapeutics In (DFTX) Initiated at New Buy at Stifel; PT USD 30
• FirstEnergy (FE) Initiated at New Hold at TD Cowen; PT USD 56
• Four Corners Property (FCPT) Initiated at New Market Perform at BMO; PT USD 27
• FrontView REIT (FVR) Initiated at New Outperform at BMO; PT USD 20
• Golub Capital (GBDC) Initiated at New Outperform at RBC; PT USD 15
• H2O America (HTO) Initiated at New Hold at TD Cowen; PT USD 64
• Immunic Inc (IMUX) Initiated at New Buy at Stifel; PT USD 2.50
• Netstreit (NTST) Initiated at New Outperform at BMO; PT USD 24
• Northwest Natural (NWN) Initiated at New Hold at TD Cowen; PT USD 58
• Repligen (RGEN) Initiated at New Buy at Rothschild & Co Redburn; PT USD 160
• SharonAI (SHAZ) Initiated at New Buy at Lucid Capital Markets; PT USD 50
• Spire (SR) Initiated at New Hold at TD Cowen; PT USD 101
• W&T Offshore (WTI) Initiated at New Outperform at William Blair
• Woodward (WWD) Initiated at New Outperform at RBC; PT USD 450