BROKER MOVES: FTNT upgraded at TD Cowen; SCCO downgraded at JPM

UPGRADES

• Acushnet (GOLF) Upgraded to Neutral at JPMorgan; PT USD 96
• Applied Materials (AMAT) Upgraded to Buy at Deutsche Bank; PT USD 390
• Darden (DRI) Upgraded to Buy at Melius
• Darden (DRI) Upgraded to Outperform at Mizuho Securities; PT USD 235
• Fortinet (FTNT) Upgraded to Buy at TD Cowen; PT USD 100
• P&G (PG) Upgraded to Buy at DBS Bank; PT USD 167
• P&G (PG) Upgraded to Overweight at JPMorgan; PT USD 165
• Redwood Trust (RWT) Upgraded to Overweight at JPMorgan; PT USD 6
• RLI (RLI) Upgraded to Hold at Jefferies; PT USD 52
• Spotify (SPOT) Upgraded to Buy at Goldman; PT USD 700
• Starbucks (SBUX) Upgraded to Outperform at William Blair
• Stepan (SCL) Upgraded to Buy at Seaport Global Securities; PT USD 75

DOWNGRADES

• Axalta (AXTA) Downgraded to Neutral at Seaport Global Securities
• BJ's Wholesale (BJ) Downgraded to Hold at Melius; PT USD 100
• Cleveland-Cliffs (CLF) Downgraded to Neutral at Seaport Global Securities
• Confluent (CFLT) Downgraded to Market Perform at Bernstein
• Entegris (ENTG) Downgraded to Neutral at Seaport Global Securities
• FB Financial (FBK) Downgraded to Neutral at Piper Sandler; PT USD 65
• Inspire Medical (INSP) Downgraded to Hold at Truist Secs; PT USD 96
• Li Auto (LI) ADRs Downgraded to Hold at Jefferies; PT USD 17.50
• Materion (MTRN) Downgraded to Neutral at Seaport Global Securities
• OFG Bancorp (OFG) Downgraded to Market Perform at KBW; PT USD 43
• Quaker Houghton (KWR) Downgraded to Neutral at Seaport Global Securities
• Safehold Inc (SAFE) Downgraded to Underweight at Morgan Stanley; PT USD 14
• Sherwin-Williams (SHW) Downgraded to Hold at Deutsche Bank
• Southern Copper (SCCO) Downgraded to Underweight at JPMorgan; PT USD 117.50
• Trade Desk (TTD) Downgraded to Market Perform at Citizens
• Two Harbors (TWO) Downgraded to Neutral at UBS; PT USD 14
• Wolverine World Wide (WWW) Downgraded to Neutral at BNP Paribas

INITIATIONS

• Bandwidth (BAND) Initiated at New Buy at B Riley; PT USD 20
• Centuri Holdings (CTRI) Initiated at New Overweight at Cantor; PT USD 34
• Coherus Oncology (CHRS) Initiated at New Outperform at Oppenheimer
• Decoy Therapeutics Inc (DCOY) Initiated at New Buy at Ladenburg Thalmann
• eGain Corp (EGAN) Initiated at New Neutral at B Riley; PT USD 10.50
• Elf Beauty (ELF) Reinstated Buy at Citi; PT USD 110
• Everus Construction Group (ECG) Initiated at New Neutral at Cantor; PT USD 97
• Heico (HEI) Initiated at New Neutral at Susquehanna; PT USD 385
• Heritage Distilling Holding (IPST) US Initiated at New Buy at Roth Capital Partners; PT USD 8.20
• Hinge Health (HNGE) Initiated at New Buy at Freedom Capital; PT USD 59
• Insmed (INSM) Initiated at New Buy at Roth Capital Partners; PT USD 212
• MasTec (MTZ) Initiated at New Overweight at Cantor; PT USD 274
• Melco Resorts (MLCO) ADRs Initiated at New Buy at Texas Capital; PT USD 11.50
• Mirion Technologies (MIR) Initiated at New Equal-Weight at Morgan Stanley
• MYR Group (MYRG) Initiated at New Overweight at Cantor; PT USD 285
• N-able (NABL) Initiated at New Buy at B Riley; PT USD 10
• Powell Industries (POWL) Initiated at New Neutral at Cantor; PT USD 427
• Primoris Services (PRIM) Initiated at New Neutral at Cantor; PT USD 160
• Quanta Services (PWR) Initiated at New Overweight at Cantor; PT USD 520
• Sterling Infrastructure (STRL) Initiated at New Overweight at Cantor; PT USD 413
• VTV Therapeutics (VTVT) Reinstated Buy at Roth Capital Partners; PT USD 58