US BROKER MOVES: MOS upgraded at Scotiabank, FTNT downgraded; HUM downgraded at Morgan Stanley

UPGRADES

• ARM Holdings (ARM) ADRs Upgraded to Neutral at Grupo Santander; PT USD 104
• Autodesk (ADSK) Upgraded to Overweight at JPMorgan; PT USD 319
• Church & Dwight (CHD) Upgraded to Neutral at JPMorgan; PT USD 100
• Darling Ingredients (DAR) Upgraded to Outperform at Baird; PT USD 62
• Futu Holdings (FUTU) ADRs Upgraded to Buy at Goldman; PT USD 213.39
• Liberty Energy (LBRT) Upgraded to Overweight at Piper Sandler; PT USD 32
• McDonald's (MCD) Upgraded to Buy at BTIG; PT USD 360
• Mosaic (MOS) Upgraded to Sector Outperform at Scotiabank; PT USD 36
• ResMed (RMD) Upgraded to Buy at Morgans Financial Limited; PT USD 47.73

DOWNGRADES

• Autoliv (ALV) Downgraded to Hold at Handelsbanken; PT USD 130
• Best Buy (BBY) Downgraded to Neutral at JPMorgan; PT USD 76
• BioNTech (BNTX) ADRs Downgraded to Market Perform at Leerink; PT USD 113
• Chevron (CVX) Downgraded to Hold at HSBC; PT USD 180
• Cirrus Logic (CRUS) Downgraded to Hold at Loop Capital; PT USD 130
• Fortinet (FTNT) Downgraded to Sector Perform at Scotiabank; PT USD 85
• Humana (HUM) Downgraded to Underweight at Morgan Stanley; PT USD 174
• Independent Bank Corp (INDB) Downgraded to Underweight at Barclays; PT USD 80
• International Paper (IP) Downgraded to Neutral at UBS; PT USD 44
• Prosperity Banc (PB) Downgraded to Underweight at Barclays; PT USD 68
• PTC Inc. (PTC) Downgraded to Underweight at JPMorgan; PT USD 162

INITIATIONS

• American Bitcoin (ABTC) Initiated at New Buy at HC Wainwright; PT USD 4
• Avalo Therapeutics (AVTX) Initiated at New Buy at Guggenheim; PT USD 50
• Circle Internet (CRCL) Initiated at New Equal-Weight at Morgan Stanley; PT USD 66
• Cullinan Therapeutics (CGEM) Initiated at New Buy at Guggenheim; PT USD 30
• Here Group Ltd (HERE) ADRs Initiated at New Outperform at CICC; PT USD 6.50
• KLA Corp (KLAC) Initiated at New Neutral at CTBC Securities; PT USD 1,750
• Micron (MU) Initiated at New Buy at Phillip Secs; PT USD 500
• Praxis Precision (PRAX) Initiated at New Equal-Weight at Wells Fargo; PT USD 282
• Rapport Therapeutics (RAPP) Initiated at New Overweight at Wells Fargo; PT USD 43
• Sandisk (SNDK) Initiated at New Buy at CTBC Securities; PT USD 660
• Stewart Information (STC) Initiated at New Market Outperform at Citizens
• Synergy CHC (SNYR) Initiated at New Buy at Ascendiant Capital Markets; PT USD 5
• Teradyne (TER) Initiated at New Buy at Aletheia Capital; PT USD 400
• Waystar (WAY) Initiated at New Outperform at Leerink; PT USD 43