πŸ“ˆ Rating Rides: Upgrades to Buy and Downgrades to Bye πŸ‘‹

Published 9 months agoΒ β€’Β 5 min read

Hey Reader,

Welcome to this week's edition of our analyst rating changes roundup. Below, we highlight top firms' most notable upgrades and downgrades, providing insights into market sentiment and potential investment opportunities.

Analyst Upgrades

Alcoa (AA)

  • Firm: Wolfe Research
  • Rating Change: Underperform to Hold Wolfe Research upgraded Alcoa from Underperform to Hold, indicating a neutral stance on the aluminum giant as market conditions evolve.

First Bancshares (FBMS)

  • Firm: Keefe Bruyette
  • Rating Change: Hold to Outperform Keefe Bruyette's upgrade suggests a positive outlook on First Bancshares' growth prospects, moving from a cautious Hold to an enthusiastic Outperform.

Frontdoor (FTDR)

  • Firm: William Blair
  • Rating Change: Hold to Outperform William Blair sees significant upside potential in Frontdoor's market position and strategic initiatives.

Grid Dynamics (GDYN)

  • Firm: TD Cowen
  • Rating Change: Hold to Buy TD Cowen's shift to a Buy rating reflects growing confidence in Grid Dynamics' technology and growth trajectory.

Intuitive Surgical (ISRG)

  • Firm: Redburn Atlantic
  • Rating Change: Hold to Buy Redburn Atlantic is optimistic about Intuitive Surgical's innovation and market expansion, upgrading it to Buy.

Kellanova (K)

  • Firm: BofA Securities
  • Rating Change: Hold to Buy BofA Securities' upgrade points to strong fundamentals and potential growth for Kellanova.

Mobileye Global (MBLY)

  • Firm: Morgan Stanley
  • Rating Change: Underperform to Hold Morgan Stanley's upgrade indicates an improved outlook for Mobileye Global's performance.

Omnicell (OMCL)

  • Firm: Barclays
  • Rating Change: Underperform to Hold Barclays moves Omnicell to a more neutral position, suggesting stabilized prospects.

Blue Owl Capital (OWL)

  • Firm: Oppenheimer
  • Rating Change: Hold to Outperform Oppenheimer's upgrade highlights Blue Owl Capital's strong positioning and future growth potential.

Qualcomm (QCOM)

  • Firm: DZ Bank
  • Rating Change: Hold to Buy DZ Bank's confidence in Qualcomm's technological advancements leads to an upgrade to Buy.

Ferrari (RACE)

  • Firm: Barclays
  • Rating Change: Hold to Outperform Barclays sees luxury automaker Ferrari outperforming, raising its rating to Outperform.

RingCentral (RNG)

  • Firm: Rosenblatt
  • Rating Change: Hold to Buy Rosenblatt upgrades RingCentral, expecting robust growth in the communication services sector.

Atlassian (TEAM)

  • Firm: Goldman
  • Rating Change: Hold to Buy Goldman's upgrade reflects a positive outlook on Atlassian's software solutions and market share expansion.

Clearfield (CLFD)

  • Firm: Lake Street
  • Rating Change: Hold to Buy Lake Street sees significant potential in Clearfield's fiber optics solutions, upgrading to Buy.

BioNTech (BNTX)

  • Firm: HSBC Securities
  • Rating Change: Hold to Buy HSBC Securities is optimistic about BioNTech's innovative biotech pipeline, moving to Buy.

Gildan Activewear (GIL)

  • Firm: Stifel
  • Rating Change: Hold to Buy Stifel sees growth potential in Gildan Activewear's market strategy, upgrading to Buy.

Analyst Downgrades

Appian (APPN)

  • Firm: KeyBanc Capital Markets
  • Rating Change: Outperform to Hold KeyBanc Capital Markets downgrades Appian, signaling a cautious outlook amidst market challenges.

Alexandria Real Estate (ARE)

  • Firm: Jefferies
  • Rating Change: Buy to Hold Jefferies tempers its optimism on Alexandria Real Estate, reflecting near-term uncertainties.

Altice USA (ATUS)

  • Firm: UBS
  • Rating Change: Buy to Hold UBS downgrades Altice USA, pointing to potential headwinds in the telecommunications sector.

Bausch Health (BHC)

  • Firm: Piper Sandler
  • Rating Change: Hold to Underperform Piper Sandler expresses concerns over Bausch Health's performance, moving to Underperform.

Builders FirstSource (BLDR)

  • Firm: BofA Securities
  • Rating Change: Buy to Hold BofA Securities shifts to a more cautious stance on Builders FirstSource.

CenterPoint (CNP)

  • Firm: JP Morgan, KeyBanc Capital Markets, BMO Capital Markets
  • Rating Changes: Outperform to Hold Multiple firms downgrade CenterPoint, indicating a less favorable outlook.

Crocs (CROX)

  • Firm: Raymond James
  • Rating Change: Buy to Outperform Raymond James sees Crocs outperforming rather than leading in the market.

Intel (INTC)

  • Firms: BofA Securities, HSBC Securities, Raymond James, The Benchmark Company, New Street
  • Rating Changes: Various downgrades to Hold or Underperform Intel faces a series of downgrades from several firms, reflecting concerns over its market position and competitive pressures.

Ionis Pharma (IONS)

  • Firm: BMO Capital Markets
  • Rating Change: Outperform to Hold BMO Capital Markets lowers expectations for Ionis Pharma, moving to Hold.

lululemon athletica (LULU)

  • Firm: Goldman
  • Rating Change: Buy to Hold Goldman takes a more neutral stance on lululemon, reflecting market saturation concerns.

Microchip (MCHP)

  • Firm: BofA Securities
  • Rating Change: Buy to Hold BofA Securities downgrades Microchip, indicating a more cautious outlook.

Nu Holdings (NU)

  • Firm: UBS
  • Rating Change: Buy to Hold UBS shifts to a Hold rating for Nu Holdings, reflecting near-term uncertainties.

Oaktree Specialty Lending Corp (OCSL)

  • Firm: Oppenheimer
  • Rating Change: Outperform to Hold Oppenheimer tempers its outlook on Oaktree Specialty Lending Corp.

Procore Technologies (PCOR)

  • Firms: DA Davidson, Barclays
  • Rating Changes: Buy/Outperform to Hold Procore Technologies faces downgrades from both firms, signaling cautious optimism.

SmartRent (SMRT)

  • Firm: BTIG Research
  • Rating Change: Buy to Hold BTIG Research downgrades SmartRent amidst market challenges.

Southern (SO)

  • Firm: Wolfe Research
  • Rating Change: Outperform to Hold Wolfe Research takes a neutral stance on Southern.

Atlassian (TEAM)

  • Firm: Robert W. Baird
  • Rating Change: Outperform to Hold Contrasting Goldman's upgrade, Robert W. Baird downgrades Atlassian, indicating mixed market sentiments.

Telefonica S.A. (TEF)

  • Firm: BofA Securities
  • Rating Change: Buy to Hold BofA Securities downgrades Telefonica, reflecting concerns over market conditions.

Clarus Corporation (CLAR)

  • Firm: ROTH MKM
  • Rating Change: Buy to Hold ROTH MKM downgrades Clarus Corporation, signaling a cautious outlook.

Intercontinental Exchange (ICE)

  • Firm: Deutsche Bank
  • Rating Change: Buy to Hold Deutsche Bank tempers its optimism on Intercontinental Exchange.

Amazon (AMZN)

  • Firm: Itau BBA
  • Rating Change: Outperform to Hold Itau BBA downgrades Amazon, indicating a more cautious stance.

Morgan Stanley (MS)

  • Firm: Wells Fargo
  • Rating Change: Hold to Underperform Wells Fargo expresses concerns over Morgan Stanley's performance, downgrading to Underperform.

Altair Engineering (ALTR)

  • Firm: Goldman
  • Rating Change: Hold to Sell Goldman downgrades Altair Engineering to Sell, signaling significant concerns.

Colliers (CIGI)

  • Firm: Raymond James
  • Rating Change: Buy to Outperform Raymond James downgrades Colliers, indicating a more moderate outlook.

Nutrien (NTR)

  • Firm: HSBC Securities
  • Rating Change: Hold to Underperform HSBC Securities downgrades Nutrien amidst challenging market conditions.

Open Text (OTEX)

  • Firm: National Bank Financial
  • Rating Change: Outperform to Hold National Bank Financial tempers its outlook on Open Text.

Snap (SNAP)

  • Firm: HSBC Securities
  • Rating Change: Buy to Hold HSBC Securities downgrades Snap, reflecting a more cautious stance.

Galapagos NV (GLPG)

  • Firm: Raymond James
  • Rating Change: Outperform to Hold Raymond James lowers expectations for Galapagos NV.

TELUS International (TIXT)

  • Firm: William Blair
  • Rating Change: Outperform to Hold William Blair tempers its optimism on TELUS International.

This week's analyst rating changes reflect a dynamic market environment. Stay tuned for more updates and insights in our next edition.

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I help retail investors stay up to date with the financial markets so they can grow their investments.