US BROKER MOVES: FDX upgraded at Wells Fargo; ADBE, FRSH, VERX downgraded at Piper Sandler

UPGRADES

• Affirm Holdings (AFRM) Upgraded to Overweight at Morgan Stanley; PT USD 76
• Baidu (BIDU) ADRs Upgraded to Buy at China Renaissance; PT USD 180
• Becton Dickinson (BDX) Upgraded to Buy at Citi; PT USD 233
• Equity LifeStyle (ELS) Upgraded to Buy at BofA
• FedEx (FDX) Upgraded to Outperform at Bernstein; PT USD 427
• FedEx (FDX) Upgraded to Overweight at Wells Fargo; PT USD 380
• JetBlue (JBLU) Upgraded to Neutral at Citi
• JPMorgan (JPM) Upgraded to Neutral at Baird; PT USD 280
• Mastercard (MA) Upgraded to Outperform at Daiwa; PT USD 610
• Palantir (PLTR) Upgraded to Outperform at Baird; PT USD 200
• Popular (BPOP) Upgraded to Buy at BofA; PT USD 156
• Q2 Holdings (QTWO) Upgraded to Buy at DA Davidson; PT USD 82
• SoFi Technologies (SOFI) Upgraded to Overweight at JPMorgan; PT USD 31
• Stellar Bancorp (STEL) Upgraded to Outperform at KBW; PT USD 44
• Visa (V) Upgraded to Outperform at Daiwa; PT USD 370

DOWNGRADES

• Adobe (ADBE) Downgraded to Neutral at Piper Sandler
• Coterra Energy (CTRA) Downgraded to Sector Perform at Scotiabank; PT USD 31
• DHT Holdings (DHT) Downgraded to Hold at ABG; PT USD 14.30
• Elevance (ELV) Downgraded to Sector Perform at RBC; PT USD 358
• Exxon (XOM) Downgraded to Underperform at BNP Paribas; PT USD 125
• Figure Technology (FIGR) Downgraded to Underperform at BofA
• Freshworks (FRSH) Downgraded to Neutral at Piper Sandler
• Lockheed (LMT) Downgraded to Hold at DZ Bank; PT USD 665
• Peakstone Realty Trust (PKST) Downgraded to Neutral at UBS; PT USD 21
• Schneider National (SNDR) Downgraded to Hold at Stifel; PT USD 26
• Sun Country Airlines (SNCY) Downgraded to Hold at TD Cowen; PT USD 18
• Vertex (VERX) Downgraded to Neutral at Piper Sandler

INITIATIONS

• Aktis Oncology (AKTS) Initiated at New Outperform at Leerink; PT USD 31
• Aktis Oncology (AKTS) Initiated at New Buy at TD Cowen
• Aktis Oncology (AKTS) Initiated at New Overweight at JPMorgan; PT USD 30
• Alexandria Real Estate (ARE) Reinstated Neutral at Goldman; PT USD 60
• Caribou Biosciences (CRBU) Initiated at New Buy at Clear Street; PT USD 13
• GCI Liberty (GLIBA) Initiated at New Buy at Seaport Global Securities; PT USD 68
• Limbach Holdings (LMB) Initiated at New Neutral at JPMorgan; PT USD 100
• MSA Safety (MSA) Initiated at New Neutral at JPMorgan; PT USD 200
• Nebius Group (NBIS) Initiated at New Buy at Freedom Capital; PT USD 108
• Ovintiv (OVV) Initiated at New Equal-Weight at Stephens; PT USD 44
• ReNew Energy (RNW) Reinstated Equal-Weight at Morgan Stanley; PT USD 6.03
• Sagimet Biosciences (SGMT) Initiated at New Buy at Guggenheim; PT USD 27
• TaskUS (TASK) Initiated at New Outperform at Wedbush; PT USD 15