Investing

Opening Bell Analysts Research Calls for Wednesday, January 18

24/7 Wall St. Staff

Published: January 18, 2023 9:45 am

This report was sent to Briefing.com subscribers earlier today.

Research calls posted earlier this morning are available here.

Upgrades:

> Algoma Steel Group (ASTL) upgraded to Buy from Hold at Stifel

> Check Point Software (CHKP) upgraded to Neutral from Sell at Citigroup

> Gap (GPS) upgraded to Equal-Weight from Underweight at Morgan Stanley

> Grifols, S.A. (GRFS) upgraded to Buy from Hold at Jefferies

> Magellan Midstream (MMP) upgraded to Overweight from Equal Weight at Barclays; tgt $59

> Nestle (NSRGY) upgraded to Hold from Underperform at Jefferies

> Oatly Group AB (OTLY) upgraded to Buy from Neutral at Mizuho; tgt raised to $6

> Pegasystems (PEGA) upgraded to Buy from Neutral at Citigroup; tgt raised to $45

> Seagate Tech (STX) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $69

> Willis Towers Watson (WTW) upgraded to Outperform from Mkt Perform at Keefe Bruyette; tgt $303

Downgrades:

> Exact Sciences (EXAS) downgraded to Mkt Perform from Outperform at Raymond James

> Extra Space Storage (EXR) downgraded to Peer Perform from Outperform at Wolfe Research

> Exxon Mobil (XOM) downgraded to Sell from Neutral at Redburn

> Idorsia Ltd (IDRSF) downgraded to Hold from Buy at Jefferies

> Monarch Casino & Resort (MCRI) downgraded to Neutral from Outperform at Macquarie; tgt lowered to $81

> Morgan Stanley (MS) downgraded to Neutral from Buy at Citigroup; tgt $100

> PayPal (PYPL) downgraded to Underperform from Neutral at SMBC Nikko; tgt lowered to $75

> PennyMac (PFSI) downgraded to Mkt Perform from Mkt Outperform at JMP Securities

> Signature Bank (SBNY) downgraded to Equal-Weight from Overweight at Stephens; tgt $145

> Skechers USA (SKX) downgraded to Equal-Weight from Overweight at Morgan Stanley; tgt $46

> Terna Rete Elettrica (TERRF) downgraded to Neutral from Buy at UBS

> UGI Corp (UGI) downgraded to Underweight from Equal Weight at Barclays; tgt raised to $39

> Veracyte (VCYT) downgraded to Mkt Perform from Outperform at Raymond James

> Williams Cos (WMB) downgraded to Equal Weight from Overweight at Barclays; tgt $37

Others:

> Adobe (ADBE) initiated with a Neutral at DA Davidson; tgt $350

> BioMarin Pharmaceutical (BMRN) initiated with a Hold at Canaccord Genuity; tgt $119

> Boyd Gaming (BYD) initiated with a Buy at ROTH Capital; tgt $70

> Check Point Software (CHKP) initiated with a Sector Outperform at Scotiabank; tgt $160

> Coherent (COHR) initiated with a Buy at Rosenblatt; tgt $55

> CrowdStrike (CRWD) initiated with an Outperform at BMO Capital Markets; tgt $120

> CubeSmart (CUBE) initiated with an Outperform at Wolfe Research; tgt $48

> Datadog (DDOG) placed on Negative Catalyst Watch at Citigroup

> Fortinet (FTNT) initiated with a Sector Outperform at Scotiabank; tgt $65

> Informatica (INFA) initiated with a Sector Perform at Scotiabank; tgt $15

> Intel (INTC) placed on Negative Catalyst Watch at Citigroup

> Kornit Digital (KRNT) initiated with an Equal-Weight at Morgan Stanley; tgt $27

> Lam Research (LRCX) resumed with a Hold at Stifel; tgt $495

> Membership Collective Group (MCG) initiated with a Buy at ROTH Capital; tgt $7

> Microchip (MCHP) placed on Positive Catalyst Watch at Citigroup

> National Storage Affiliates (NSA) initiated with a Peer Perform at Wolfe Research

> Nuvalent (NUVL) initiated with an Outperform at Wedbush; tgt $39

> ON Semiconductor (ON) placed on Positive Catalyst Watch at Citigroup

> Oracle (ORCL) initiated with a Neutral at DA Davidson; tgt $85

> Palantir Technologies (PLTR) initiated with a Neutral at Mizuho; tgt $7

> Prenetics Group Ltd. (PRE) initiated with an Overweight at Cantor Fitzgerald; tgt $7

> Qualcomm (QCOM) placed on Negative Catalyst Watch at Citigroup

> Rhythm Pharmaceuticals (RYTM) resumed with a Buy at Canaccord Genuity; tgt $52

> Salesforce (CRM) initiated with a Neutral at DA Davidson; tgt $150

> SentinelOne (S) initiated with a Sector Outperform at Scotiabank; tgt $13

> Shopify (SHOP) initiated with a Neutral at DA Davidson; tgt $34

> Splunk (SPLK) placed on Positive Catalyst Watch at Citigroup

> Ultragenyx Pharma (RARE) assumed with a Buy at Canaccord Genuity; tgt $90

> Vertex Pharma (VRTX) initiated with a Hold at Canaccord Genuity; tgt $311