US BROKER MOVES: MS upgraded at UBS; ARM downgraded at UBS

UPGRADES

• Arista Networks (ANET) Upgraded to Buy at Rosenblatt Securities Inc
• Associated Banc (ASB) Upgraded to Overweight at Barclays
• Centerspace (CSR) Upgraded to Overweight at Piper Sandler; PT USD 72
• East West Bancorp (EWBC) Upgraded to Buy at UBS; PT USD 125
• FB Financial (FBK) Upgraded to Strong Buy at Raymond James; PT USD 62
• Flagstar Bank (FLG) Upgraded to Buy at Truist Secs; PT USD 17
• MercadoLibre (MELI) Upgraded to Buy at Jefferies
• Morgan Stanley (MS) Upgraded to Buy at UBS; PT USD 196
• Old Dominion (ODFL) Upgraded to Equal-Weight at Wells Fargo; PT USD 200
• Q2 Holdings (QTWO) Upgraded to Outperform at Baird; PT USD 70
• Rocket Lab (RKLB) Upgraded to Market Outperform at Citizens; PT USD 85
• Third Coast (TCBX) Upgraded to Outperform at Raymond James; PT USD 45
• Wingstop (WING) Upgraded to Buy at Citi; PT USD 230

DOWNGRADES

• Adecoagro (AGRO) Downgraded to Neutral at Banco BTG Pactual; PT USD 16
• ARM Holdings (ARM) ADRs Downgraded to Equal-Weight at Morgan Stanley; PT USD 150
• Bio-Rad (BIO) Downgraded to Neutral at Citi; PT USD 300
• D.R. Horton (DHI) Downgraded to Neutral at Seaport Global Securities
• Equinix (EQIX) Downgraded to Sector Perform at Scotiabank; PT USD 1,050
• First Horizon (FHN) Downgraded to Neutral at UBS
• First Interstate Banc (FIBK) Downgraded to Sell at UBS; PT USD 30
• Insulet (PODD) Downgraded to Neutral at Citi; PT USD 230
• KB Home (KBH) Downgraded to Sell at Seaport Global Securities; PT USD 43
• Lennar (LEN) Downgraded to Sell at Seaport Global Securities; PT USD 74
• LSB Industries (LXU) Downgraded to Sector Perform at RBC; PT USD 14
• M/I Homes (MHO) Downgraded to Neutral at Seaport Global Securities
• NVR (NVR) Downgraded to Sell at Seaport Global Securities; PT USD 5,664
• Park Hotels (PK) Downgraded to Equal-Weight at Barclays; PT USD 9
• PulteGroup (PHM) Downgraded to Sell at Seaport Global Securities; PT USD 100
• Red River (RRBI) Downgraded to Market Perform at Raymond James
• Soleno (SLNO) Downgraded to Hold at TD Cowen; PT USD 53
• Soleno (SLNO) Downgraded to Hold at Stifel; PT USD 53
• Soleno (SLNO) Downgraded to Market Perform at Oppenheimer
• Soleno (SLNO) Downgraded to Neutral at Baird; PT USD 53
• Taylor Morrison (TMHC) Downgraded to Sell at Seaport Global Securities; PT USD 49
• Toll Brothers (TOL) Downgraded to Neutral at Seaport Global Securities
• TopBuild (BLD) Downgraded to Neutral at Seaport Global Securities
• Tractor Supply (TSCO) Downgraded to Neutral at BofA; PT USD 47
• Wix.com (WIX) Downgraded to Market Perform at Citizens

INITIATIONS

• CAAP (CAAP) Initiated at New Outperform at Grupo Santander; PT USD 36
• Equillium (EQ) Initiated at New Overweight at Cantor; PT USD 10
• Forum Markets (FRMM) Initiated at New Speculative Buy at Benchmark; PT USD 5
• Generali (G IM) ADRs Initiated at New Underperform at BNP Paribas; PT USD 18
• Madison Square Garden Entertainment (MSGE) Initiated at New Buy at BTIG
• MapLight Therapeutics (MPLT) Initiated at New Buy at TD Cowen
• National Fuel Gas (NFG) Initiated at New Overweight at KeyBanc; PT USD 110
• Navan (NAVN) Initiated at New Buy at BofA; PT USD 17
• PayPay (PAYP) ADRs Initiated at New Buy at Goldman; PT USD 29
• Permian Resources (PR) Initiated at New Overweight at KeyBanc; PT USD 25
• PicS (PICS) Initiated at New Outperform at Bradesco BBI; PT USD 21
• Quad/Graphics (QUAD) Initiated at New Buy at Benchmark; PT USD 10
• Rank One Computing (ROC) Initiated at New Buy at Benchmark; PT USD 9
• Sharplink (SBET) Initiated at New Buy at HC Wainwright; PT USD 10
• Sutro Biopharma (STRO) Initiated at New Outperform at Leerink; PT USD 38