US BROKER MOVES: ZS upgraded at Bernstein and Barclays; PINS downgraded at multiple brokers after earnings & guidance miss
Zscaler (ZS) received upgrades from both Barclays and Bernstein, signaling increased confidence in the stock's potential, with target prices around $228.
Newsquawk StaffPublished On the live feed at — 4 more headlines followed before this page went public
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US PRE-MARKET MOVERS: Mag-7, RIVN, ROKU, ANET, AMAT, ABNB, VRTX, BABA, COIN, DKNG, PINS
BoE's Pill says the UK is not on the cusp of a non-linear labour market downturn and unemployment is partly driven by structural factors
US BROKER MOVES: ZS upgraded at Bernstein and Barclays; PINS downgraded at multiple brokers after earnings & guidance miss
The UK Government is reportedly planning to spend over GBP 400mln on long-range weapons this financial year
No issuers are looking to raise capital in the US investment-grade primary market on Friday, according to Bloomberg citing an informal poll of syndicate underwriters
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UPGRADES
- Webster Financial (WBS) downgraded from Buy to Neutral at Citi; PT USD 75
- Airbnb (ABNB) upgraded from Hold to Buy at Deutsche Bank; PT USD 154
- Airbnb (ABNB) upgraded from In Line to Outperform at Evercore ISI; PT USD 145
- American Electric Power (AEP) upgraded from Peer Perform to Outperform at Wolfe Research; PT USD 142
- Allegro MicroSystems (ALGM) upgraded from Equal Weight to Overweight at Morgan Stanley; PT USD 51
- Applied Materials (AMAT) upgraded from Hold to Buy at Summit Insights
- China Telecom (CHA) upgraded from Underweight to Neutral at JPMorgan; PT USD 11.50 (from USD 12.40)
- Church & Dwight (CHD) upgraded from Sell to Neutral at Rothschild Redburn; PT USD 91 (from USD 81)
- CrowdStrike (CRWD) upgraded from Hold to Buy at HSBC; PT USD 446
- Freeport-McMoRan (FCX) upgraded from Hold to Buy at Argus
- International Flavors & Fragrances (IFF) upgraded from Perform to Outperform at Oppenheimer; PT USD 97
- McDonald’s (MCD) upgraded from Hold to Buy at Argus; PT USD 380
- Medpace (MEDP) upgraded from Hold to Buy at Jefferies; PT USD 560
- Mitek Systems (MITK) upgraded from Hold to Buy at Jefferies; PT USD 15 (from USD 11)
- Merck & Co. (MRK) upgraded from Hold to Buy at Deutsche Bank; PT USD 150 (from USD 115)
- Cloudflare (NET) upgraded from Hold to Buy at DZ Bank; PT USD 215
- Rivian Automotive (RIVN) upgraded from Hold to Buy at Deutsche Bank; PT USD 23 (from USD 16)
- Rivian Automotive (RIVN) upgraded from Sell to Neutral at UBS; PT USD 16 (from USD 15)
- Roku (ROKU) upgraded from Neutral to Buy at Rosenblatt; PT USD 118
- Rayonier (RYN) upgraded from Outperform to Strong Buy at Raymond James; PT USD 28 (from USD 26)
- SPX Technologies (SPXC) upgraded from Neutral to Buy at BofA Securities; PT USD 280 (from USD 240)
- Vertex Pharmaceuticals (VRTX) upgraded from Perform to Outperform at Oppenheimer; PT USD 540
- Xcel Energy (XEL) upgraded from Neutral to Buy at UBS; PT USD 89 (from USD 81)
- Zscaler (ZS) upgraded from Equal Weight to Overweight at Barclays; PT USD 228 (from USD 264)
- Zscaler (ZS) upgraded from Market Perform to Outperform at Bernstein; PT USD 228 (from USD 264)
DOWNGRADES
- Afya (AFYA) downgraded from Equal Weight to Underweight at Morgan Stanley; PT USD 16 (from USD 17.50)
- Dollar Tree (DLTR) downgraded from Market Perform to Underperform at BMO Capital; PT USD 95 (from USD 110)
- Domo (DOMO) downgraded from Market Outperform to Market Underperform at Citizens; PT USD 3.50
- Edison International (EIX) downgraded from Buy to Neutral at UBS; PT USD 78 (from USD 70)
- Evergy (EVRG) downgraded from Buy to Neutral at UBS; PT USD 88 (from USD 86)
- Fortune Brands Innovations (FBIN) downgraded from Overweight to Equal Weight at Barclays; PT USD 55 (from USD 68)
- Hercules Capital (HTGC) downgraded from Overweight to Neutral at Piper Sandler; PT USD 17.50 (from USD 20.50)
- Inspire Medical Systems (INSP) downgraded from Outperform to Peer Perform at Wolfe Research
- IPG Photonics (IPGP) downgraded from Strong Buy to Outperform at Raymond James; PT USD 180 (from USD 97)
- Norwegian Cruise Line (NCLH) downgraded from Overweight to Neutral at JPMorgan; PT USD 20 (from USD 28)
- Pinterest (PINS) downgraded from Buy to Hold at Loop Capital; PT USD 18 (from USD 45)
- Pinterest (PINS) downgraded from Buy to Neutral at Citi; PT USD 19 (from USD 38)
- Pinterest (PINS) downgraded from Buy to Neutral at BofA Securities; PT USD 19 (from USD 39)
- Pinterest (PINS) downgraded from Outperform to In Line at Evercore ISI; PT USD 25
- Pinterest (PINS) downgraded from Outperform to Sector Perform at RBC Capital; PT USD 17 (from USD 38)
- Pinterest (PINS) downgraded from Overweight to Neutral at JPMorgan; PT USD 20 (from USD 36)
- Upstart Holdings (UPST) downgraded from Market Perform to Market Underperform at Citizens; PT USD 20
- US Foods (USFD) downgraded from Overweight to Neutral at Piper Sandler; PT USD 103 (from USD 85)
INITIATIONS
- Climb Bio (CLYM) initiated at Overweight at Piper Sandler; PT USD 23
- Medtronic (MDT) initiated at Overweight at Barclays; PT USD 116
- Natural Grocers (NGVC) initiated at Buy at Freedom Capital Markets; PT USD 36
- SB Financial Group (SBFG) initiated at Buy at Brean Capital; PT USD 24
Context
In contrast, Pinterest (PINS) faced multiple downgrades after disappointing earnings and guidance, suggesting concerns about its growth trajectory. This bifurcation highlights a shift in market sentiment that could impact sector trends and investor behavior moving forward.
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