US BROKER MOVES: SCCO upgraded at Goldman Sachs; Citi downgrades ADSK, DOCU, SMWB, VEEV, seeing a lack of catalysts in next 12 months

UPGRADES

• KNOT Offshore (KNOP) Upgraded to Buy at Fearnley; PT USD 15
• MacroGenics (MGNX) Upgraded to Buy at B Riley; PT USD 9
• Madison Square Garden Sports (MSGS) US Upgraded to Buy at Seaport Global Securities; PT USD 430
• Meta (META) Upgraded to Strong Buy at CFRA
• Nexstar Media (NXST) Upgraded to Buy at Citi; PT USD 220
• Ryman Hospitality (RHP) Upgraded to Overweight at Morgan Stanley
• Shake Shack (SHAK) Upgraded to Outperform at Mizuho Securities; PT USD 120
• Southern Copper (SCCO) Upgraded to Neutral at Goldman; PT USD 178

DOWNGRADES

• Autodesk (ADSK) Downgraded to Neutral at Citi; PT USD 246
• Axalta (AXTA) Downgraded to Equal-Weight at Wells Fargo; PT USD 30
• CCC Intelligent Solutions (CCC) Downgraded to Neutral at Citi; PT USD 6
• Docusign (DOCU) Downgraded to Neutral at Citi; PT USD 50
• Nike (NKE) Downgraded to Neutral at Piper Sandler; PT USD 50
• Nutanix (NTNX) Downgraded to Neutral at JPMorgan; PT USD 44
• Roots Corp. (ROOT CN) Downgraded to Hold at TD Cowen; PT CUSD 4.25
• ServiceNow (NOW) Downgraded to Neutral at UBS; PT USD 100
• Sherwin-Williams (SHW) Downgraded to Equal-Weight at Wells Fargo; PT USD 365
• SimilarWeb (SMWB) Downgraded to Neutral at Citi; PT USD 3
• Simply Good Foods (SMPL) Downgraded to Equal-Weight at Stephens; PT USD 14
• Telus (T CN) Downgraded to Sector Perform at Scotiabank; PT CUSD 21.50
• Veeva (VEEV) Downgraded to Neutral at Citi; PT USD 176

INITIATIONS

• AbCellera Biologics (ABCL) Initiated at New Buy at Jones; PT USD 11
• Caris Life Sciences (CAI) Initiated at New Neutral at Piper Sandler; PT USD 21
• CBIZ (CBZ) Initiated at New Equal-Weight at Stephens; PT USD 31
• Definium Therapeutics In (DFTX) Initiated at New Overweight at Piper Sandler
• Grail (GRAL) Initiated at New Neutral at Mizuho Securities; PT USD 58
• Initiated at New Neutral at Piper Sandler; PT USD 54
• Infleqtion (INFQ) Initiated at New Buy at BTIG; PT USD 22
• Insmed (INSM) Initiated at New Outperform at Raymond James; PT USD 200
• Lyell Immunopharma (LYEL) Initiated at New Strong Buy at Needham; PT USD 44
• Macom (MTSI) Initiated at New Buy at Loop Capital
• Mechanics Bancorp (MCHB) Initiated at New Overweight at Cantor; PT USD 17
• Milestone Pharmaceuticals (MIST) Initiated at New Strong Buy at Raymond James
• Nakamoto (NAKA) Initiated at New Buy at TD Cowen; PT USD 1
• Praxis Precision (PRAX) Initiated at New Strong Buy at Raymond James; PT USD 815
• ProPetro (PUMP) Reinstated Neutral at Goldman; PT USD 15
• PTC Therapeutics (PTCT) Reinstated Outperform at Raymond James; PT USD 108
• Rapport Therapeutics (RAPP) Initiated at New Strong Buy at Raymond James
• Sharplink (SBET) Initiated at New Buy at TD Cowen
• Skillz (SKLZ) Initiated at New Overweight at Cantor
• Strive (ASST) Initiated at New Buy at TD Cowen; PT USD 26
• United Therapeutics (UTHR) Initiated at New Outperform at Raymond James
• UroGen Pharma (URGN) Reinstated Buy at Jefferies; PT USD 40
• Whitefiber (WYFI) Initiated at New Buy at BTIG; PT USD 20