US BROKER MOVES: SPOT upgraded at Citi; DLTR upgraded at CFRA

UPGRADES

• Ameriprise (AMP) Upgraded to Neutral at Piper Sandler; PT USD 530


• Circle Internet (CRCL) Upgraded to Neutral at Compass Point; PT USD 60


• Deckers Outdoor (DECK) Upgraded to Outperform at KGI Securities; PT USD 129


• GE Vernova (GEV) Upgraded to Buy at Guggenheim; PT USD 910


• Globus Medical (GMED) Upgraded to Buy at Needham; PT USD 112


• Hexcel (HXL) Upgraded to Equal-Weight at Morgan Stanley; PT USD 90


• International Paper (IP) Upgraded to Equal-Weight at Wells Fargo


• Quest Diagnostics (DGX) Upgraded to Overweight at Barclays; PT USD 210


• Royalty Pharma (RPRX) Upgraded to Buy at UBS; PT USD 49


• Sandisk (SNDK) Upgraded to Outperform at Raymond James; PT USD 725


• Southwest Air (LUV) Upgraded to Outperform at BMO; PT USD 57.50


• Spotify (SPOT) Upgraded to Buy at Citi; PT USD 650


• Tal Education (TAL) ADRs Upgraded to Outperform at Macquarie; PT USD 18


• Valley National (VLY) Upgraded to Strong Buy at Raymond James; PT USD 15

DOWNGRADES

• Arthur J Gallagher (AJG) Downgraded to Neutral at Cantor; PT USD 282


• Codere Online Luxembourg (CDRO) Downgraded to Hold at Stifel; PT USD 8.50


• Dollar Tree (DLTR) Downgraded to Sell at CFRA


• Fractyl Health (GUTS) Downgraded to Equal-Weight at Morgan Stanley; PT USD 2


• Gran Tierra (GTE) Downgraded to Hold at Canaccord; PT USD 5.92


• Kenvue (KVUE) Downgraded to Hold at Jefferies; PT USD 18


• PagSeguro (PAGS) Downgraded to Neutral at Banco BTG Pactual; PT USD 13


• Quince Therapeutics Inc (QNCX) Downgraded to Market Perform at Citizens


• Quince Therapeutics Inc (QNCX) Downgraded to Hold at Brookline Capital

INITIATIONS

• Arista Networks (ANET) Initiated at New Buy at William O'Neil


• Carlisle (CSL) Initiated at New Market Perform at William Blair


• Definium Therapeutics In (DFTX) Initiated at New Buy at Jefferies; PT USD 30


• Engene Holdings (ENGN) Initiated at New Buy at Jefferies; PT USD 28


• Figure Technology (FIGR) Initiated at New Buy at Texas Capital; PT USD 82


• Medtronic (MDT) Initiated at New Outperform at CICC; PT USD 121


• Pulse Biosciences (PLSE) Initiated at New Outperform at Mizuho Securities


• RenovoRx (RNXT) Initiated at New Buy at Jones; PT USD 8


• RxSight (RXST) Initiated at New Market Perform at William Blair

30 Jan 2026 - 12:57- Equities- Source: Market Source