Newsquawk Logo

US BROKER MOVES: UNP upgraded at UBS; CLLS downgraded at Barclays

This is a routine daily rating sweep rather than a single catalyst, and the informational content sits in the clusters, not the individual calls.

Newsquawk StaffPublished On the live feed at — 1 more headline followed before this page went public
Newsquawk headlinesUTC

Russia's Syzran and Saratov oil refineries have stopped operations after Ukrainian drone attacks, according to reports

[CALENDAR ADDITION] US President Trump to speak in North Carolina to campaign for the Republican candidate at 19:00EDT/00:00BST

US BROKER MOVES: UNP upgraded at UBS; CLLS downgraded at Barclays

German Government Spokesperson says Germany is open to discussing new partnership models between EU and Canada but the term associate member needs to be rethought

Houthis claim responsibility for recent Saudi attack; says they carried out two military operations, targeting Saudi Aramco in Yanbu with dozens of ballistic missiles and drones and Khamis Mushait Air Base with a number of ballistic missiles

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.

Try the platform free
Free. No signup, no card.

UPGRADES

  • Alvotech (ALVO) Upgraded from Underweight to Overweight at Barclays; PT USD 8
  • Credicorp (BAP) Upgraded from Neutral to Overweight at JPMorgan; PT USD 482
  • Paychex (PAYX) Upgraded from Underperform to Peer Perform at Wolfe Research
  • Rocket Pharmaceuticals (RCKT) Upgraded from Hold to Buy at Needham; PT USD 9
  • Similarweb (SMWB) Upgraded from Hold to Buy at Needham; PT USD 11
  • Union Pacific (UNP) Upgraded from Neutral to Buy at UBS; PT USD 339

DOWNGRADES

  • CBIZ (CBZ) Downgraded from Outperform to Market Perform at Barrington Research
  • Cellectis (CLLS) Downgraded from Overweight to Underweight at Barclays; PT USD 1.30
  • Hartford Financial (HIG) Downgraded from Outperform to Neutral at Mizuho; PT USD 154
  • Meritage Homes (MTH) Downgraded from Buy to Hold at Truist Securities
  • Nu Holdings (NU) Downgraded from Outperform to Market Perform at Itau BBA; PT USD 18

INITIATIONS

  • Airbnb (ABNB) Initiated at Equalweight at Morgan Stanley; PT USD 170
  • American Bitcoin (ABTC) Initiated at Buy at BTIG; PT USD 15
  • Bandwidth (BAND) Initiated at Neutral at BofA Securities; PT USD 60
  • Booking Holdings (BKNG) Initiated at Overweight at Morgan Stanley; PT USD 230
  • Dutch Bros (BROS) Initiated at Buy at Seaport Global Securities; PT USD 50
  • CAVA (CAVA) Initiated at Buy at Seaport Global Securities; PT USD 58
  • Chipotle Mexican Grill (CMG) Initiated at Neutral at Seaport Global Securities
  • Domino's Pizza (DPZ) Initiated at Neutral at Seaport Global Securities
  • Darden Restaurants (DRI) Initiated at Buy at Seaport Global Securities; PT USD 240
  • Brinker International (EAT) Initiated at Buy at Seaport Global Securities; PT USD 230
  • Expedia (EXPE) Initiated at Underweight at Morgan Stanley; PT USD 235
  • Five9 (FIVN) Initiated at Outperform at FBN Securities; PT USD 40
  • Janus Living (JAN) Initiated at Neutral at Compass Point; PT USD 37
  • McDonald's (MCD) Initiated at Neutral at Seaport Global Securities
  • Corvex (MOVE) Initiated at Buy at Chardan; PT USD 18.75
  • Pinnacle Financial Partners (PNFP) Initiated at Outperform at Hovde Group
  • Restaurant Brands International (QSR) Initiated at Buy at Seaport Global Securities; PT USD 88
  • Arcus Biosciences (RCUS) Initiated at Buy at TD Cowen
  • Starbucks (SBUX) Initiated at Neutral at Seaport Global Securities
  • Shake Shack (SHAK) Initiated at Neutral at Seaport Global Securities
  • Solid Biosciences (SLDB) Initiated at Outperform at RBC Capital; PT USD 18
  • Sylvamo (SLVM) Initiated at Overweight at Wells Fargo; PT USD 47
  • Tarsus Pharmaceuticals (TARS) Initiated at Overweight at Barclays; PT USD 110
  • First Tracks Biotherapeutics (TRAX) Initiated at Buy at Guggenheim; PT USD 100
  • Texas Roadhouse (TXRH) Initiated at Buy at Seaport Global Securities; PT USD 195
  • Wendy's (WEN) Initiated at Neutral at Seaport Global Securities
  • Yum! Brands (YUM) Initiated at Buy at Seaport Global Securities; PT USD 162
Context

The Seaport initiation block across restaurants, with Buys on the casual dining and chicken names against Neutrals on the large-cap incumbents, reads as a coverage launch with a house view on where same-store traffic and margin sit, a pattern that tends to move the smaller, less-covered names more than the index heavyweights on day one. The Morgan Stanley pairing of Booking at Overweight against Expedia at Underweight is a relative-value statement within online travel rather than a sector call, and such pairs typically matter for the spread between the two more than for either in isolation. Among the changes, the Union Pacific upgrade at UBS is the most consequential for flows given the stock's index weight and the rail group's sensitivity to freight volume commentary; single-analyst rail calls have historically faded unless volume data or peer commentary corroborates. The Cellectis cut to Underweight with a target implying a fraction of the prior valuation is of the binary biotech type, where rating changes tend to follow data or financing events rather than precede them. The tells are whether the initiations draw follow-on research from the same houses and whether the UNP call is echoed across the rail peer set in coming sessions.

Related headlines

The whole workspace, free to try.

Try it free
Newsquawk Logo

© 2026 Newsquawk. All rights reserved.