BROKER MOVERS: BIDU upgraded at JPM; QS at Evercore

Upgrades:

• Alignment Healthcare (ALHC) Upgraded to Overweight at JPMorgan; PT USD 20
• Baidu (BIDU) ADRs Upgraded to Overweight at JPMorgan; PT USD 188
• Booking (BKNG) Upgraded to Buy at BofA; PT USD 6,000
• Carvana (CVNA) Upgraded to Outperform at Wedbush; PT USD 400
• Cipher Mining (CIFR) Upgraded to Overweight at JPMorgan; PT USD 18
• CleanSpark (CLSK) Upgraded to Overweight at JPMorgan
• Cummins (CMI) Upgraded to Buy at Truist Secs; PT USD 628
• Eversource (ES) Upgraded to Buy at Janney Montgomery; PT USD 79
• Flutter (FLUT) Upgraded to Buy at HSBC; PT USD 228
• Inspire Medical (INSP) Upgraded to Buy at Stifel; PT USD 110
• International Paper (IP) Upgraded to Outperform at BNPP Exane; PT USD 44
• Magnera (MAGN) Upgraded to Overweight at Wells Fargo; PT USD 16
• Merck & Co (MRK) Upgraded to Overweight at Wells Fargo; PT USD 125
• Morgan Stanley (MS) Upgraded to Outperform at Wolfe
• MP Materials (MP) Upgraded to Outperform at BMO; PT USD 75
• Tractor Supply (TSCO) Upgraded to Buy at Jefferies; PT USD 64
• Vita Coco (COCO) Upgraded to Overweight at Stephens; PT USD 58
• Vornado Realty (VNO) Upgraded to Neutral at JPMorgan; PT USD 41

Downgrades:

• Brandywine Realty (BDN) Downgraded to Underweight at JPMorgan
• Exact Sciences (EXAS) Downgraded to Hold at Benchmark
• Exact Sciences (EXAS) Downgraded to Hold at Jefferies; PT USD 105
• Frontline PLC (FRO) Downgraded to Neutral at Clarksons; PT USD 26.34
• JFrog (FROG) Downgraded to Neutral at UBS; PT USD 65
• Kimbell Royalty Partners (KRP) Downgraded to Sector Weight at KeyBanc
• PureCycle (PCT) Downgraded to Hold at TD Cowen; PT USD 9
• QuantumScape (QS) Downgraded to Inline at Evercore ISI; PT USD 12

Initiations:

• Adagene (ADAG) ADRs Initiated at New Buy at Guggenheim; PT USD 9
• Agios (AGIO) Initiated at New Buy at Truist Secs; PT USD 32
• Airbnb (ABNB) Initiated at New Neutral at BNP Exane
• Amazon (AMZN) Initiated at New Outperform at BNP Exane
• Bicycle Therapeutics (BCYC) ADRs Initiated at New Hold at Truist Secs; PT USD 10
• Cadence Design (CDNS) Initiated at New Outperform at KGI Securities; PT USD 390
• Cadence Design (CDNS) Reinstated at Buy at Citi; PT USD 385
• Capital Clean Energy Car (CCEC) Initiated at New Buy at Clarksons; PT USD 23
• CareCloud Inc (CCLD) Initiated at New Buy at ThinkEquity; PT USD 8
• CG Oncology (CGON) Initiated at New Buy at Truist Secs; PT USD 62
• Clean Harbors (CLH) Reinstated at Neutral at Goldman; PT USD 228
• EBay (EBAY) Initiated at New Neutral at BNP Exane
• Etsy (ETSY) Initiated at New Neutral at BNPP Exane
• Expedia (EXPE) Initiated at New Neutral at BNPP Exane
• Ferrari (RACE) Initiated at New Outperform at Grupo Santander; PT USD 494.02
• Ferrari (RACE) Reinstated at Buy at Goldman
• Fulcrum Therapeutics (FULC) Initiated at New Buy at Truist Secs; PT USD 14
• Granite Construction (GVA) Initiated at New Neutral at Goldman; PT USD 109
• Hyatt (H) Reinstated at Overweight at JPMorgan; PT USD 178
• Ideaya Biosciences (IDYA) Initiated at New Buy at Truist Secs; PT USD 59
• Jacobs (J) Initiated at New Buy at Goldman; PT USD 158
• MannKind (MNKD) Initiated at New Buy at Truist Secs; PT USD 9
• Marvell Technology (MRVL) Initiated at New Hold at HSBC; PT USD 85
• MeiraGTx (MGTX) Initiated at New Buy at HC Wainwright; PT USD 20
• Meta (META) Initiated at New Outperform at BNPP Exane; PT USD 800
• Navan (NAVN) Initiated at New Outperform at Oppenheimer; PT USD 25
• Navan (NAVN) Initiated at New Overweight at Morgan Stanley; PT USD 19
• Navan (NAVN) Initiated at New Buy at Needham; PT USD 25
• Navan (NAVN) Initiated at New Buy at Loop Capital; PT USD 25
• Navan (NAVN) Initiated at New Outperform at Mizuho Securities; PT USD 25
• Navan (NAVN) Initiated at New Buy at Citi; PT USD 26
• Navan (NAVN) Initiated at New Market Outperform at Citizens; PT USD 25
• Navan (NAVN) Initiated at New Buy at Jefferies; PT USD 25
• Navan (NAVN) Initiated at New Buy at Goldman; PT USD 29
• Nuvalent (NUVL) Initiated at New Buy at Truist Secs; PT USD 140
• Nuvation Bio (NUVB) Initiated at New Buy at Truist Secs; PT USD 11
• Passage Bio (PASG) Initiated at New Buy at Lucid Capital Markets; PT USD 68
• Primoris Services (PRIM) Initiated at New Sell at Goldman; PT USD 117
• Regeneron (REGN) Initiated at New Buy at HSBC; PT USD 890
• Republic Services (RSG) Reinstated at Buy at Goldman; PT USD 255
• Samsara (IOT) Initiated at New Buy at Arete; PT USD 50
• Stellantis (STLA) Reinstated at Neutral at Goldman
• Synopsys (SNPS) Initiated at New Outperform at KGI Securities; PT USD 585
• Synopsys (SNPS) Reinstated at Buy at Citi; PT USD 580
• T1 Energy (TE) Initiated at New Buy at Roth Capital Partners; PT USD 7
• Viridian Therapeutics Inc (VRDN) Initiated at New Buy at Truist Secs; PT USD 41
• WM (WM) Reinstated at Buy at Goldman; PT USD 256
• Xencor (XNCR) Initiated at New Buy at Truist Secs; PT USD 29