Benzinga's Top Ratings Upgrades, Downgrades For May 18, 2023

Upgrades

According to CIBC, the prior rating for BlackBerry Ltd BB was changed from Underperformer to Neutral. In the fourth quarter, BlackBerry showed an EPS of $0.02, compared to $0.01 from the year-ago quarter. The stock has a 52-week-high of $7.20 and a 52-week-low of $3.17. At the end of the last trading period, BlackBerry closed at $5.38.

Evercore ISI Group upgraded the previous rating for Teva Pharmaceutical Industries Ltd TEVA from In-Line to Outperform. In the first quarter, Teva Pharmaceutical Indus showed an EPS of $0.40, compared to $0.55 from the year-ago quarter. The current stock performance of Teva Pharmaceutical Indus shows a 52-week-high of $11.45 and a 52-week-low of $6.78. Moreover, at the end of the last trading period, the closing price was at $8.13.

According to B of A Securities, the prior rating for Cincinnati Financial Corp CINF was changed from Neutral to Buy. Cincinnati Financial earned $0.89 in the first quarter, compared to $1.58 in the year-ago quarter. The current stock performance of Cincinnati Financial shows a 52-week-high of $130.66 and a 52-week-low of $88.67. Moreover, at the end of the last trading period, the closing price was at $102.69.

According to UBS, the prior rating for Albemarle Corp ALB was changed from Neutral to Buy. For the first quarter, Albemarle had an EPS of $10.32, compared to year-ago quarter EPS of $2.38. At the moment, the stock has a 52-week-high of $334.20 and a 52-week-low of $171.82. Albemarle closed at $207.99 at the end of the last trading period.

BTIG upgraded the previous rating for Dynatrace Inc DT from Neutral to Buy. Dynatrace earned $0.31 in the fourth quarter, compared to $0.17 in the year-ago quarter. The stock has a 52-week-high of $48.00 and a 52-week-low of $31.55. At the end of the last trading period, Dynatrace closed at $47.07.

According to Mizuho, the prior rating for WEC Energy Group Inc WEC was changed from Neutral to Buy. WEC Energy Group earned $1.61 in the first quarter, compared to $1.79 in the year-ago quarter. At the moment, the stock has a 52-week-high of $108.39 and a 52-week-low of $80.91. WEC Energy Group closed at $89.27 at the end of the last trading period.

For Rambus Inc RMBS, Jefferies upgraded the previous rating of Hold to Buy. Rambus earned $0.03 in the first quarter, compared to $0.01 in the year-ago quarter. At the moment, the stock has a 52-week-high of $54.23 and a 52-week-low of $20.00. Rambus closed at $53.55 at the end of the last trading period.

According to Citigroup, the prior rating for Tencent Music Entertainment Group TME was changed from Neutral to Buy. Tencent Music Enter Gr earned $0.13 in the first quarter, compared to $0.09 in the year-ago quarter. The stock has a 52-week-high of $9.29 and a 52-week-low of $3.15. At the end of the last trading period, Tencent Music Enter Gr closed at $8.31.

Roth Capital upgraded the previous rating for Snap-on Inc SNA from Neutral to Buy. Snap-on earned $4.60 in the first quarter, compared to $4.00 in the year-ago quarter. The stock has a 52-week-high of $265.02 and a 52-week-low of $190.37. At the end of the last trading period, Snap-on closed at $257.53.

According to National Bank Financial Inc, the prior rating for Ritchie Bros Auctioneers Inc RBA was changed from Sector Perform to Outperform. In the first quarter, Ritchie Bros Auctioneers showed an EPS of $0.57, compared to $0.46 from the year-ago quarter. At the moment, the stock has a 52-week-high of $72.68 and a 52-week-low of $48.75. Ritchie Bros Auctioneers closed at $51.85 at the end of the last trading period.

See all analyst ratings upgrades.

Downgrades

For XP Inc XP, Banco Bradesco BBI S.A downgraded the previous rating of Outperform to Neutral. XP earned $0.28 in the first quarter, compared to $0.28 in the year-ago quarter. At the moment, the stock has a 52-week-high of $25.18 and a 52-week-low of $10.30. XP closed at $16.73 at the end of the last trading period.

OTR Global downgraded the previous rating for Nutanix Inc NTNX from Positive to Mixed. The stock has a 52-week-high of $33.72 and a 52-week-low of $13.44. At the end of the last trading period, Nutanix closed at $26.27.

For Essential Utilities Inc WTRG, Northcoast Research downgraded the previous rating of Buy to Neutral. Essential Utilities earned $0.72 in the first quarter, compared to $0.76 in the year-ago quarter. At the moment, the stock has a 52-week-high of $52.44 and a 52-week-low of $38.51. Essential Utilities closed at $41.06 at the end of the last trading period.

According to B of A Securities, the prior rating for Selective Insurance Group Inc SIGI was changed from Neutral to Underperform. Selective Insurance Gr earned $1.44 in the first quarter, compared to $1.41 in the year-ago quarter. The stock has a 52-week-high of $104.37 and a 52-week-low of $72.40. At the end of the last trading period, Selective Insurance Gr closed at $101.94.

B of A Securities downgraded the previous rating for The Hanover Insurance Group Inc THG from Buy to Neutral. For the first quarter, Hanover Insurance Gr had an EPS of $0.13, compared to year-ago quarter EPS of $3.26. The stock has a 52-week-high of $149.42 and a 52-week-low of $115.26. At the end of the last trading period, Hanover Insurance Gr closed at $120.19.

According to Truist Securities, the prior rating for Procter & Gamble Co PG was changed from Buy to Hold. In the third quarter, Procter & Gamble showed an EPS of $1.37, compared to $1.33 from the year-ago quarter. The current stock performance of Procter & Gamble shows a 52-week-high of $158.11 and a 52-week-low of $122.19. Moreover, at the end of the last trading period, the closing price was at $155.08.

Morgan Stanley downgraded the previous rating for Futu Holdings Ltd FUTU from Equal-Weight to Underweight. For the fourth quarter, Futu Hldgs had an EPS of $0.92, compared to year-ago quarter EPS of $0.45. The current stock performance of Futu Hldgs shows a 52-week-high of $72.20 and a 52-week-low of $28.01. Moreover, at the end of the last trading period, the closing price was at $41.42.

According to Jefferies, the prior rating for Amyris Inc AMRS was changed from Buy to Hold. In the first quarter, Amyris showed an EPS of $0.34, compared to $0.37 from the year-ago quarter. At the moment, the stock has a 52-week-high of $4.86 and a 52-week-low of $0.55. Amyris closed at $0.66 at the end of the last trading period.

According to Stifel, the prior rating for Magellan Midstream Partners LP MMP was changed from Buy to Hold. Magellan Midstream earned $1.32 in the first quarter, compared to $1.10 in the year-ago quarter. The stock has a 52-week-high of $64.42 and a 52-week-low of $44.84. At the end of the last trading period, Magellan Midstream closed at $62.02.

Stifel downgraded the previous rating for NeoGames SA NGMS from Buy to Hold. For the first quarter, NeoGames had an EPS of $0.20, compared to year-ago quarter EPS of $0.03. The current stock performance of NeoGames shows a 52-week-high of $27.50 and a 52-week-low of $10.85. Moreover, at the end of the last trading period, the closing price was at $27.32.

According to Citigroup, the prior rating for Nu Holdings Ltd NU was changed from Buy to Neutral. Nu Holdings earned $0.04 in the first quarter, compared to $0.01 in the year-ago quarter. The current stock performance of Nu Holdings shows a 52-week-high of $6.92 and a 52-week-low of $3.27. Moreover, at the end of the last trading period, the closing price was at $6.18.

Raymond James downgraded the previous rating for Intercept Pharmaceuticals Inc ICPT from Outperform to Market Perform. Intercept Pharma earned $0.77 in the first quarter, compared to $0.58 in the year-ago quarter. The stock has a 52-week-high of $21.86 and a 52-week-low of $10.82. At the end of the last trading period, Intercept Pharma closed at $13.83.

See all analyst ratings downgrades.

Initiations

Cantor Fitzgerald initiated coverage on Acumen Pharmaceuticals Inc ABOS with an Overweight rating. The price target for Acumen Pharmaceuticals is set to $13.00. In the first quarter, Acumen Pharmaceuticals showed an EPS of $0.28, compared to $0.23 from the year-ago quarter. The stock has a 52-week-high of $10.95 and a 52-week-low of $3.17. At the end of the last trading period, Acumen Pharmaceuticals closed at $5.45.

Jefferies initiated coverage on Wolfspeed Inc WOLF with a Hold rating. The price target for Wolfspeed is set to $46.00. Wolfspeed earned $0.13 in the third quarter, compared to $0.12 in the year-ago quarter. The current stock performance of Wolfspeed shows a 52-week-high of $125.40 and a 52-week-low of $39.02. Moreover, at the end of the last trading period, the closing price was at $42.02.

For Tarsus Pharmaceuticals Inc TARS, Guggenheim initiated coverage, by setting the current rating at Buy. In the first quarter, Tarsus Pharmaceuticals showed an EPS of $0.88, compared to $0.98 from the year-ago quarter. The stock has a 52-week-high of $19.52 and a 52-week-low of $11.33. At the end of the last trading period, Tarsus Pharmaceuticals closed at $15.93.

Truist Securities initiated coverage on Arcellx Inc ACLX with a Buy rating. The price target for Arcellx is set to $60.00. In the first quarter, Arcellx showed an EPS of $0.58, compared to $1.59 from the year-ago quarter. The current stock performance of Arcellx shows a 52-week-high of $48.91 and a 52-week-low of $6.14. Moreover, at the end of the last trading period, the closing price was at $41.24.

Seaport Global initiated coverage on Array Technologies Inc ARRY with a Buy rating. The price target for Array Technologies is set to $30.00. For the first quarter, Array Technologies had an EPS of $0.25, compared to year-ago quarter EPS of $0.02. The stock has a 52-week-high of $24.59 and a 52-week-low of $7.03. At the end of the last trading period, Array Technologies closed at $22.68.

For Lantern Pharma Inc LTRN, HC Wainwright & Co. initiated coverage, by setting the current rating at Neutral. At the moment, the stock has a 52-week-high of $6.57 and a 52-week-low of $4.05. Lantern Pharma closed at $4.90 at the end of the last trading period.

BTIG initiated coverage on Coya Therapeutics Inc COYA with a Buy rating. The price target for Coya Therapeutics is set to $15.00. In the first quarter, Coya Therapeutics showed an EPS of $0.28, compared to $0.66 from the year-ago quarter. The stock has a 52-week-high of $8.00 and a 52-week-low of $3.69. At the end of the last trading period, Coya Therapeutics closed at $5.76.

With a Buy rating, Canaccord Genuity initiated coverage on Pliant Therapeutics Inc PLRX. The price target seems to have been set at $48.00 for Pliant Therapeutics. In the first quarter, Pliant Therapeutics showed an EPS of $0.67, compared to $0.78 from the year-ago quarter. The current stock performance of Pliant Therapeutics shows a 52-week-high of $36.64 and a 52-week-low of $4.69. Moreover, at the end of the last trading period, the closing price was at $21.53.

With a Neutral rating, JP Morgan initiated coverage on PLAYSTUDIOS Inc MYPS. The price target seems to have been set at $5.00 for PLAYSTUDIOS. PLAYSTUDIOS earned $0.02 in the first quarter, compared to $0.20 in the year-ago quarter. The current stock performance of PLAYSTUDIOS shows a 52-week-high of $6.59 and a 52-week-low of $3.25. Moreover, at the end of the last trading period, the closing price was at $4.43.

With a Hold rating, Brookline Capital initiated coverage on Genelux Corp GNLX. The price target seems to have been set at $25.00 for Genelux. At the moment, the stock has a 52-week-high of $39.27 and a 52-week-low of $5.35. Genelux closed at $24.70 at the end of the last trading period.

With a Buy rating, DA Davidson initiated coverage on Varonis Systems Inc VRNS. The price target seems to have been set at $30.00 for Varonis Systems. In the first quarter, Varonis Systems showed an EPS of $0.00, compared to $0.09 from the year-ago quarter. The current stock performance of Varonis Systems shows a 52-week-high of $35.35 and a 52-week-low of $15.61. Moreover, at the end of the last trading period, the closing price was at $24.01.

With a Sector Perform rating, Scotiabank initiated coverage on Braze Inc BRZE. The price target seems to have been set at $34.00 for Braze. In the fourth quarter, Braze showed an EPS of $0.14, compared to $0.18 from the year-ago quarter. The current stock performance of Braze shows a 52-week-high of $50.96 and a 52-week-low of $22.62. Moreover, at the end of the last trading period, the closing price was at $30.53.

See all analyst ratings initiations.