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Upgrades:

> Alphabet A (GOOGL) upgraded to Outperform from Neutral at Exane BNP Paribas; tgt $123

> American Airlines (AAL) upgraded to Peer Perform from Underperform at Wolfe Research

> Applied Industrial (AIT) upgraded to Outperform from Neutral at Robert W. Baird; tgt $160

> Chubb (CB) upgraded to Overweight from Neutral at JP Morgan; tgt $239

> Duke Energy (DUK) upgraded to Neutral from Sell at Seaport Research Partners

> Fidelity Nat’l Info (FIS) upgraded to Outperform from Mkt Perform at Keefe Bruyette; tgt $70

> FMC Corp (FMC) upgraded to Buy from Neutral at Redburn; tgt $155

> GDS Holdings (GDS) upgraded to Buy from Hold at Deutsche Bank; tgt $20

> GlaxoSmithKline (GSK) upgraded to Buy from Hold at Deutsche Bank

> LivePerson (LPSN) upgraded to Neutral from Underperform at Credit Suisse; tgt lowered to $5

> NVIDIA (NVDA) upgraded to Overweight from Equal-Weight at Morgan Stanley; tgt raised to $304

> Sterling Bancorp, Inc. (SBT) upgraded to Overweight from Neutral at Piper Sandler; tgt lowered to $6

> Synchrony Financial (SYF) upgraded to Outperform from Perform at Oppenheimer; tgt $35

> Warner Bros. Discovery (WBD) upgraded to Outperform from Peer Perform at Wolfe Research; tgt $20

> Warner Bros. Discovery (WBD) upgraded to Overweight from Equal Weight at Wells Fargo; tgt $20

Downgrades:

> Bread Financial (BFH) downgraded to Mkt Perform from Outperform at Keefe Bruyette; tgt lowered to $35

> CareMax (CMAX) downgraded to Market Perform from Outperform at TD Cowen; tgt lowered to $4

> Cerevel Therapeutics (CERE) downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $29

> Dollar General (DG) downgraded to Hold from Accumulate at Gordon Haskett; tgt lowered to $220

> Emergent BioSolutions (EBS) downgraded to Underweight from Neutral at JP Morgan; tgt lowered to $9

> First Republic Bank (FRC) downgraded to Neutral from Outperform at Wedbush; tgt lowered to $5

> Honest Company (HNST) downgraded to Market Perform from Outperform at Telsey Advisory Group; tgt lowered to $2

> MacroGenics (MGNX) downgraded to Neutral from Buy at Guggenheim

> NovoCure (NVCR) downgraded to Underweight from Neutral at JP Morgan; tgt lowered to $50

> RingCentral (RNG) downgraded to Perform from Outperform at Oppenheimer

> Synchrony Financial (SYF) downgraded to Mkt Perform from Outperform at Keefe Bruyette; tgt lowered to $32

> Terex (TEX) downgraded to Neutral from Buy at BofA Securities; tgt lowered to $54

> Veeva Systems (VEEV) downgraded to Hold from Buy at Truist; tgt lowered to $195

Others:

> Atour Lifestyle Hldgs. Ltd. (ATAT) initiated with a Buy at Citigroup; tgt $28.30

> Bill.com (BILL) initiated with a Neutral at Robert W. Baird; tgt $86

> Bumble Inc. (BMBL) initiated with a Buy at Citigroup; tgt $24

> Centessa Pharmaceuticals (CNTA) initiated with an Outperform at SVB Securities; tgt $6

> Churchill Downs (CHDN) initiated with a Buy at Truist; tgt $300

> Inventiva (IVA) initiated with a Buy at Stifel; tgt $27

> IQVIA (IQV) initiated with a Buy at Truist; tgt $265

> Okta (OKTA) initiated with a Buy at Westpark Capital; tgt $120

> PTC Therapeutics (PTCT) initiated with a Market Perform at SVB Securities; tgt $48

> Seadrill Ltd (SDRL) initiated with a Buy at BTIG Research; tgt $50

> Shopify (SHOP) resumed with a Hold at Stifel; tgt $45

> South Plains Financial (SPFI) initiated with an Outperform at Raymond James; tgt $26

> Viking Therapeutics (VKTX) initiated with a Buy at Stifel; tgt $22

> Zscaler (ZS) initiated with an Equal Weight at CapitalOne; tgt $125

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