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Upgrades:

> Equity Residential (EQR) upgraded to Buy from Hold at Argus; tgt $72

> ISS A/S (ISSDY) upgraded to Equal-Weight from Underweight at Morgan Stanley

> Matson (MATX) upgraded to Peer Perform from Underperform at Wolfe Research

> Verbund AG (OEZVY) upgraded to Buy from Hold at Societe Generale

> XPeng (XPEV) upgraded to Buy from Neutral at UBS; tgt lowered to $13

Downgrades:

> Cadence Bank (CADE) downgraded to Neutral from Buy at Janney; tgt raised to $30

> Descartes (DSGX) downgraded to Peer Perform from Outperform at Wolfe Research

> Dominion Energy (D) downgraded to In-line from Outperform at Evercore ISI; tgt $78

> Hub Group (HUBG) downgraded to Peer Perform from Outperform at Wolfe Research

> NIO (NIO) downgraded to Neutral from Buy at UBS; tgt lowered to $13

> Norfolk Southern (NSC) downgraded to Peer Perform from Outperform at Wolfe Research

> On (ONON) downgraded to Hold from Buy at Williams Trading; tgt $20

> PACCAR (PCAR) downgraded to Peer Perform from Outperform at Wolfe Research

> Saia (SAIA) downgraded to Peer Perform from Outperform at Wolfe Research

> Salesforce (CRM) downgraded to Neutral from Buy at Monness Crespi & Hardt

> Sprouts Farmers Market (SFM) downgraded to Neutral from Buy at Northcoast

Others:

> Franklin Covey (FC) initiated with an Outperform at Northland Capital; tgt $100

> Lemonade (LMND) initiated with a Mkt Perform at Keefe Bruyette; tgt $24

> Ventyx Biosciences (VTYX) initiated with an Overweight at Morgan Stanley; tgt $45

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