| UPGRADES | | | | |
| COMPANY | TICKER | BROKERAGE FIRM | RATINGS CHANGE | PRICE TARGET |
| America Movil SA | AMX | BofA Securities | Neutral>>Buy | $23>>$25 |
| Parker-Hannifin | PH | BofA Securities | Neutral>>Buy | $435>>$475 |
| Trane | TT | BofA Securities | Underperform>>Neutral | $187>>$210 |
| TelevisaUnivision | TV | BofA Securities | Neutral>>Buy | $5>>$4.7 |
| UWM Holdings | UWMC | BTIG Research | Neutral>>Buy | $6 |
| Beacon Roofing Supply | BECN | RBC Capital Mkts | Sector Perform>>Outperform | $91>>$94 |
| O’Reilly Auto | ORLY | Citigroup | Neutral>>Buy | $983>>$1040 |
| Pinnacle West | PNW | KeyBanc Capital Markets | Underweight>>Sector Weight | |
| CMS Energy | CMS | KeyBanc Capital Markets | Sector Weight>>Overweight | $57 |
| CenterPoint | CNP | KeyBanc Capital Markets | Sector Weight>>Overweight | $29 |
| DTE Energy | DTE | KeyBanc Capital Markets | Sector Weight>>Overweight | $106 |
| Entergy | ETR | KeyBanc Capital Markets | Sector Weight>>Overweight | $97 |
| Prosperity Bancshares | PB | Raymond James | Outperform>>Strong Buy | $68 |
| Live Oak Bancshares | LOB | JP Morgan | Neutral>>Overweight | $40 |
| Investar | ISTR | Piper Sandler | Neutral>>Overweight | $14 |
| Carlsberg A/S | CABGY | Kepler | Reduce>>Hold | |
| Heineken | HEINY | Kepler | Hold>>Buy | |
| Pernod-Ricard | PDRDY | Kepler | Reduce>>Hold | |
| Ceridian HCM | CDAY | Needham | Hold>>Buy | $82 |
| Monster Beverage | MNST | CFRA | Hold>>Buy | $60 |
| KB Financial | KB | CLSA | Outperform>>Buy | |
| | | | |
| DOWNGRADES | | | | |
| COMPANY | TICKER | BROKERAGE FIRM | RATINGS CHANGE | PRICE TARGET |
| Bread Financial | BFH | BofA Securities | Buy>>Neutral | $44>>$36 |
| Carrier Global | CARR | BofA Securities | Neutral>>Underperform | $62>>$55 |
| Canadian Nat’l Rail | CNI | BofA Securities | Buy>>Neutral | $131>>$115 |
| Cooper | COO | Redburn Atlantic | Overweight>>Neutral | $390>>$343 |
| YETI Holdings | YETI | Exane BNP Paribas | Outperform>>Neutral | $42,00 |
| Tractor Supply | TSCO | Citigroup | Buy>>Neutral | $250>>$207 |
| Floor & Decor | FND | Citigroup | Buy>>Neutral | $122>>$90 |
| Paymentus | PAY | Citigroup | Buy>>Neutral | $14>>$17 |
| NextEra Energy | NEE | KeyBanc Capital Markets | Overweight>>Sector Weight | |
| Clorox | CLX | Raymond James | Outperform>>Mkt Perform | |
| Comerica | CMA | Raymond James | Strong Buy>>Outperform | $57>>$53 |
| Marriott Vacations | VAC | Jefferies | Buy>>Hold | $150>>$112 |
| SomaLogic | SLGC | Jefferies | Buy>>Hold | $3.5>>$2.3 |
| Nu Holdings | NU | New Street | Buy>>Neutral | $8.25>>$8.1 |
| Cambium Networks | CMBM | JMP Securities | Mkt Outperform>>Mkt Perform | |
| Cambium Networks | CMBM | Oppenheimer | Outperform>>Perform | |
| Britvic | BTVCY | Kepler | Buy>>Hold | |
| Intesa Sanpaolo | ISNPY | Morgan Stanley | Overweight>>Equal-Weight | |
| Shoals Technologies | SHLS | Northland Capital | Outperform>>Market Perform | $26>>$18 |
| Telecom Italia | TIIAY | Deutsche Bank | Hold>>Sell | |
| Equinor | EQNR | Goldman | Neutral>>Sell | |
| | | | |
| NEW COVERAGE | | | | |
| COMPANY | TICKER | BROKERAGE FIRM | RATINGS CHANGE | PRICE TARGET |
| Shake Shack | SHAK | BofA Securities | Neutral | $66 |
| Wingstop | WING | BofA Securities | Buy | $218 |
| PBF Energy | PBF | BMO Capital Markets | Outperform | $60 |
| HF Sinclair | DINO | BMO Capital Markets | Outperform | $65 |
| Alpine Immune Sciences | ALPN | RBC Capital Mkts | Outperform | $19,00 |
| Johnson & Johnson | JNJ | RBC Capital Mkts | Outperform | $178,00 |
| Arch Capital | ACGL | Deutsche Bank | Buy | $81 |
| American Intl | AIG | Deutsche Bank | Buy | $79,00 |
| Arthur J. Gallagher | AJG | Deutsche Bank | Buy | $277,00 |
| Aon | AON | Deutsche Bank | Hold | $361 |
| Chubb | CB | Deutsche Bank | Buy | $269,00 |
| Equitable Holdings | EQH | Deutsche Bank | Hold | $31,00 |
| Hartford Financial | HIG | Deutsche Bank | Hold | $85 |
| MetLife | MET | Deutsche Bank | Hold | $71,00 |
| Marsh McLennan | MMC | Deutsche Bank | Buy | $226,00 |
| Prudential | PRU | Deutsche Bank | Hold | $99,00 |
| Travelers | TRV | Deutsche Bank | Hold | $186,00 |
| Zebra Tech | ZBRA | Exane BNP Paribas | Underperform | $183,00 |
| Ametek | AME | Exane BNP Paribas | Neutral | $159,00 |
| Amphenol | APH | Exane BNP Paribas | Outperform | $93,00 |
| Cognex | CGNX | Exane BNP Paribas | Outperform | $55,00 |
| Fortive | FTV | Exane BNP Paribas | Outperform | $91,00 |
| Graco | GGG | Exane BNP Paribas | Neutral | $73,00 |
| IDEX Corp | IEX | Exane BNP Paribas | Neutral | $200,00 |
| Nordson | NDSN | Exane BNP Paribas | Outperform | $275,00 |
| Teledyne Tech | TDY | Exane BNP Paribas | Outperform | $530,00 |
| First Citizens BancShares | FCNCA | Wedbush | Outperform | $1.700,00 |
| First Horizon | FHN | Wedbush | Neutral | $12,00 |
| Oculis Holding AG | OCS | Stifel | Buy | $35,00 |
| Ares Management | ARES | Wolfe Research | Outperform | $133,00 |
| Blackstone | BX | Wolfe Research | Peer Perform | |
| Carlyle Group | CG | Wolfe Research | Peer Perform | |
| KKR | KKR | Wolfe Research | Outperform | $75,00 |
| Blue Owl Capital | OWL | Wolfe Research | Outperform | $16,00 |
| Howmet Aerospace | HWM | Northcoast | Neutral | |
| Fabrinet | FN | Rosenblatt | Buy | $230,00 |
| Instacart | CART | Bernstein | Mkt Perform | $30,00 |
| Capcom | CCOEY | Bernstein | Mkt Perform | |
| Elekta AB | EKTAY | Barclays | Underweight | |
| Lithium Argentina | LAAC | Stifel | Buy | $18,50 |
| Lithium Americas | LAC | Stifel | Buy | $15,00 |
| Nintendo | NTDOY | Bernstein | Mkt Perform | |
| Pembina Pipeline | PBA | Citigroup | Neutral | |
| Straumann AG | SAUHY | Barclays | Overweight | |
| Vestis | VSTS | Redburn Atlantic | Overweight | $29,00 |
| Lithium Argentina | LAAC | Scotiabank | Sector Perform | $10,00 |
| Lithium Americas | LAC | Scotiabank | Sector Outperform | $20,00 |
| Acrivon Therapeutics | ACRV | Maxim Group | Buy | |
