US BROKER MOVES: ALB upgraded at Baird; ASTS downgraded at Scotiabank

UPGRADES

• Albemarle (ALB) Upgraded to Outperform at Baird; PT USD 210
• Amcor (AMCR) Upgraded to Outperform at Baird; PT USD 10
• Block (XYZ) Upgraded to Outperform at BNP Paribas; PT USD 83
• BNY Mellon (BK) Upgraded to Buy at Truist Secs
• Colgate-Palmolive (CL) Upgraded to Overweight at Piper Sandler; PT USD 88
• First Bancorp NC (FBNC) Upgraded to Strong Buy at Raymond James; PT USD 62
• First Commonwealth (FCF) Upgraded to Outperform at Raymond James; PT USD 20
• Golub Capital (GBDC) Upgraded to Overweight at Wells Fargo; PT USD 14
• HBT Financial (HBT) Upgraded to Outperform at Raymond James; PT USD 30
• Hershey (HSY) Upgraded to Overweight at Piper Sandler; PT USD 213
• Lowe's (LOW) Upgraded to Overweight at Barclays; PT USD 285
• McDonald's (MCD) Upgraded to Outperform at Oppenheimer; PT USD 355
• Wayfair (W) Upgraded to Overweight at Barclays; PT USD 123

DOWNGRADES

• Afya (AFYA) Downgraded to Neutral at JPMorgan; PT USD 22
• Alerus Financial (ALRS) Downgraded to Market Perform at Hovde Group
• Arthur J Gallagher (AJG) Downgraded to Neutral at Piper Sandler; PT USD 272
• AST SpaceMobile (ASTS) Downgraded to Sector Underperform at Scotiabank
• Axalta (AXTA) Downgraded to Neutral at Baird; PT USD 35
• Bain Capital Specialty Finance (BCSF) US Downgraded to Equal-Weight at Wells Fargo; PT USD 14
• Bank of America (BAC) Downgraded to Peerperform at Wolfe
• Bigbear.ai (BBAI) Downgraded to Neutral at Cantor; PT USD 6
• BJ's Wholesale (BJ) Downgraded to Underweight at Barclays; PT USD 90
• Blackstone Sec Lending (BXSL) Downgraded to Underweight at Wells Fargo; PT USD 24
• ChoiceOne Financial Services (COFS) US Downgraded to Market Perform at Hovde Group
• Cleveland-Cliffs (CLF) Downgraded to Sector Weight at KeyBanc
• Crocs (CROX) Downgraded to Neutral at Baird; PT USD 100
• Deckers Outdoor (DECK) Downgraded to Underweight at Piper Sandler; PT USD 85
• Deckers Outdoor (DECK) Downgraded to Neutral at Baird; PT USD 125
• Fidelis Insurance (FIHL) Downgraded to Underweight at JPMorgan; PT USD 21
• First Solar (FSLR) Downgraded to Hold at Jefferies; PT USD 260
• Gitlab (GTLB) Downgraded to Neutral at Cantor; PT USD 40
• Graphic Packaging (GPK) Downgraded to Neutral at Baird; PT USD 18
• Heritage Commerce (HTBK) Downgraded to Market Perform at Raymond James
• Humana (HUM) Downgraded to Equal-Weight at Wells Fargo; PT USD 290
• JPMorgan (JPM) Downgraded to Peerperform at Wolfe
• Lakeland Financial (LKFN) Downgraded to Market Perform at Hovde Group
• M&T Bank (MTB) Downgraded to Peerperform at Wolfe
• MidCap Financial (MFIC) Downgraded to Equal-Weight at Wells Fargo; PT USD 11
• Morgan Stanley Direct Lending Fund (MSDL) US Downgraded to Equal-Weight at Wells Fargo; PT USD 16
• OneStream (OS) Downgraded to Neutral at Rosenblatt Securities Inc; PT USD 24
• OneStream (OS) Downgraded to Market Perform at BMO; PT USD 24
• OneStream (OS) Downgraded to Hold at Loop Capital; PT USD 24
• OneStream (OS) Downgraded to Neutral at Guggenheim
• OneStream (OS) Downgraded to Neutral at Mizuho Securities; PT USD 24
• OneStream (OS) Downgraded to Equal-Weight at Morgan Stanley; PT USD 24
• OneStream (OS) Downgraded to Hold at TD Cowen; PT USD 24
• OneStream (OS) Downgraded to Hold at Truist Secs; PT USD 24
• OneStream (OS) Downgraded to Neutral at Piper Sandler; PT USD 24
• OneStream (OS) Downgraded to Neutral at Baird; PT USD 24
• OneStream (OS) Downgraded to Market Perform at William Blair
• Portillo's (PTLO) Downgraded to Hold at Stifel; PT USD 6
• Prosperity Banc (PB) Downgraded to Market Perform at Raymond James
• SoundThinking Inc (SSTI) Downgraded to Neutral at Cantor; PT USD 10
• State Street (STT) Downgraded to Hold at Truist Secs
• U.S. Bancorp (USB) Downgraded to Peerperform at Wolfe
• Union Pacific (UNP) Downgraded to Market Perform at BMO; PT USD 255
• Universal Health (UHS) Downgraded to Equal-Weight at Wells Fargo; PT USD 235
• W R Berkley Corp (WRB) Downgraded to Underperform at Evercore ISI; PT USD 69
• Wolverine World Wide (WWW) Downgraded to Neutral at Piper Sandler; PT USD 16
• Yum (YUM) Downgraded to Market Perform at Oppenheimer

INITIATIONS

• Applied Digital (APLD) Initiated at New Buy at Arete; PT USD 99
• Applied Digital (APLD) Initiated at New Buy at Freedom Capital; PT USD 36
• ATRenew (RERE) ADRs Initiated at New Buy at Huatai Research; PT USD 7.64
• Badger Meter (BMI) Initiated at New Underweight at Barclays; PT USD 157
• Compugen (CGEN) Initiated at New Buy at HC Wainwright; PT USD 4
• Design Therapeutics (DSGN) Initiated at New Outperform at Oppenheimer; PT USD 18
• Dream Finders (DFH) Initiated at New Market Perform at Citizens
• Erasca (ERAS) Initiated at New Overweight at Piper Sandler; PT USD 5
• Galecto (GLTO) Initiated at New Outperform at Leerink; PT USD 46
• Jade Biosciences Inc (JBIO) Initiated at New Buy at HC Wainwright; PT USD 25
• Legend Biotech (LEGN) ADRs Initiated at New Outperform at Oppenheimer; PT USD 75
• M/I Homes (MHO) Initiated at New Market Outperform at Citizens; PT USD 165
• Meritage Homes (MTH) Initiated at New Market Outperform at Citizens; PT USD 90
• Natera (NTRA) Initiated at New Buy at Citi; PT USD 300
• Olema Pharma (OLMA) Initiated at New Overweight at Piper Sandler; PT USD 40
• ON Semi (ON) Reinstated Buy at William O'Neil
• ORIC Pharma (ORIC) Initiated at New Overweight at Piper Sandler; PT USD 22
• Palvella Therapeutics (PVLA) Initiated at New Outperform at Mizuho Securities
• Protara Therapeutics Inc (TARA) Initiated at New Overweight at Piper Sandler
• PulteGroup (PHM) Initiated at New Market Outperform at Citizens; PT USD 145
• Taylor Morrison (TMHC) Reinstated Market Outperform at Citizens; PT USD 95
• Toll Brothers (TOL) Initiated at New Market Outperform at Citizens; PT USD 175
• Tri Pointe Homes (TPH) Reinstated Market Outperform at Citizens
• Vertical Aerospace (EVTL) Initiated at New Outperform at William Blair