Benzinga's Top Ratings Upgrades, Downgrades For May 22, 2023

Upgrades

For Avidity Biosciences Inc RNA, Evercore ISI Group upgraded the previous rating of In-Line to Outperform. In the first quarter, Avidity Biosciences showed an EPS of $0.74, compared to $0.71 from the year-ago quarter. The current stock performance of Avidity Biosciences shows a 52-week-high of $25.74 and a 52-week-low of $9.88. Moreover, at the end of the last trading period, the closing price was at $10.82.

Odeon Capital upgraded the previous rating for KeyCorp KEY from Hold to Buy. For the first quarter, KeyCorp had an EPS of $0.30, compared to year-ago quarter EPS of $0.45. The stock has a 52-week-high of $20.30 and a 52-week-low of $8.54. At the end of the last trading period, KeyCorp closed at $9.82.

Argus Research upgraded the previous rating for Rocket Companies Inc RKT from Sell to Hold. For the first quarter, Rocket Companies had an EPS of $0.06, compared to year-ago quarter EPS of $0.15. At the moment, the stock has a 52-week-high of $11.38 and a 52-week-low of $5.97. Rocket Companies closed at $8.16 at the end of the last trading period.

According to Vertical Research, the prior rating for Corteva Inc CTVA was changed from Hold to Buy. Corteva earned $1.16 in the first quarter, compared to $0.97 in the year-ago quarter. The current stock performance of Corteva shows a 52-week-high of $68.42 and a 52-week-low of $50.03. Moreover, at the end of the last trading period, the closing price was at $56.97.

Citigroup upgraded the previous rating for Knight-Swift Transportation Holdings Inc KNX from Neutral to Buy. For the first quarter, Knight-Swift had an EPS of $0.73, compared to year-ago quarter EPS of $1.35. At the moment, the stock has a 52-week-high of $64.35 and a 52-week-low of $43.15. Knight-Swift closed at $54.59 at the end of the last trading period.

BMO Capital upgraded the previous rating for TrueBlue Inc TBI from Market Perform to Outperform. TrueBlue earned $0.06 in the first quarter, compared to $0.44 in the year-ago quarter. The stock has a 52-week-high of $23.00 and a 52-week-low of $14.20. At the end of the last trading period, TrueBlue closed at $16.04.

For Azul SA AZUL, B of A Securities upgraded the previous rating of Underperform to Neutral. For the first quarter, Azul had an EPS of $0.99, compared to year-ago quarter EPS of $1.14. The current stock performance of Azul shows a 52-week-high of $13.81 and a 52-week-low of $3.82. Moreover, at the end of the last trading period, the closing price was at $8.40.

For Norfolk Southern Corp NSC, Wells Fargo upgraded the previous rating of Equal-Weight to Overweight. For the first quarter, Norfolk Southern had an EPS of $3.32, compared to year-ago quarter EPS of $2.93. The stock has a 52-week-high of $264.17 and a 52-week-low of $196.33. At the end of the last trading period, Norfolk Southern closed at $217.74.

According to Citigroup, the prior rating for Norfolk Southern Corp NSC was changed from Neutral to Buy. For the first quarter, Norfolk Southern had an EPS of $3.32, compared to year-ago quarter EPS of $2.93. At the moment, the stock has a 52-week-high of $264.17 and a 52-week-low of $196.33. Norfolk Southern closed at $217.74 at the end of the last trading period.

For Union Pacific Corp UNP, Citigroup upgraded the previous rating of Neutral to Buy. In the first quarter, Union Pacific showed an EPS of $2.54, compared to $2.57 from the year-ago quarter. The current stock performance of Union Pacific shows a 52-week-high of $242.35 and a 52-week-low of $183.69. Moreover, at the end of the last trading period, the closing price was at $198.97.

UBS upgraded the previous rating for DraftKings Inc DKNG from Neutral to Buy. In the first quarter, DraftKings showed an EPS of $0.87, compared to $1.14 from the year-ago quarter. At the moment, the stock has a 52-week-high of $25.34 and a 52-week-low of $10.52. DraftKings closed at $24.11 at the end of the last trading period.

According to JP Morgan, the prior rating for AnaptysBio Inc ANAB was changed from Underweight to Neutral. For the first quarter, AnaptysBio had an EPS of $1.58, compared to year-ago quarter EPS of $1.31. The stock has a 52-week-high of $32.44 and a 52-week-low of $18.03. At the end of the last trading period, AnaptysBio closed at $19.13.

See all analyst ratings upgrades.

Downgrades

Northland Capital Markets downgraded the previous rating for Photronics Inc PLAB from Outperform to Market Perform. Photronics earned $0.40 in the first quarter, compared to $0.38 in the year-ago quarter. At the moment, the stock has a 52-week-high of $25.81 and a 52-week-low of $13.86. Photronics closed at $17.37 at the end of the last trading period.

For Intercept Pharmaceuticals Inc ICPT, HC Wainwright & Co. downgraded the previous rating of Neutral to Sell. Intercept Pharma earned $0.77 in the first quarter, compared to $0.58 in the year-ago quarter.

According to Williams Trading, the prior rating for Foot Locker Inc FL was changed from Hold to Sell. In the first quarter, Foot Locker showed an EPS of $0.70, compared to $1.60 from the year-ago quarter. The stock has a 52-week-high of $47.22 and a 52-week-low of $23.86. At the end of the last trading period, Foot Locker closed at $30.21.

Williams Trading downgraded the previous rating for Hibbett Inc HIBB from Buy to Hold. Hibbett earned $2.91 in the fourth quarter, compared to $1.25 in the year-ago quarter. At the moment, the stock has a 52-week-high of $75.38 and a 52-week-low of $39.59. Hibbett closed at $47.53 at the end of the last trading period.

For Foot Locker Inc FL, Citigroup downgraded the previous rating of Buy to Neutral. Foot Locker earned $0.70 in the first quarter, compared to $1.60 in the year-ago quarter. The stock has a 52-week-high of $47.22 and a 52-week-low of $23.86. At the end of the last trading period, Foot Locker closed at $30.21.

Loop Capital downgraded the previous rating for Apple Inc AAPL from Buy to Hold. Apple earned $1.52 in the second quarter, compared to $1.52 in the year-ago quarter. At the moment, the stock has a 52-week-high of $176.39 and a 52-week-low of $124.17. Apple closed at $175.16 at the end of the last trading period.

For Cirrus Logic Inc CRUS, Loop Capital downgraded the previous rating of Buy to Hold. In the fourth quarter, Cirrus Logic showed an EPS of $0.92, compared to $2.01 from the year-ago quarter. The stock has a 52-week-high of $111.15 and a 52-week-low of $61.95. At the end of the last trading period, Cirrus Logic closed at $78.11.

For Revolve Group Inc RVLV, TD Cowen downgraded the previous rating of Outperform to Market Perform. Revolve Gr earned $0.19 in the first quarter, compared to $0.30 in the year-ago quarter. The current stock performance of Revolve Gr shows a 52-week-high of $33.66 and a 52-week-low of $16.16. Moreover, at the end of the last trading period, the closing price was at $16.55.

JP Morgan downgraded the previous rating for Catalent Inc CTLT from Overweight to Neutral. In the second quarter, Catalent showed an EPS of $0.67, compared to $0.90 from the year-ago quarter. The current stock performance of Catalent shows a 52-week-high of $115.30 and a 52-week-low of $31.45. Moreover, at the end of the last trading period, the closing price was at $37.17.

Oppenheimer downgraded the previous rating for Sonder Holdings Inc SOND from Outperform to Perform. Sonder Holdings earned $0.39 in the first quarter, compared to $0.18 in the year-ago quarter. At the moment, the stock has a 52-week-high of $2.75 and a 52-week-low of $0.27. Sonder Holdings closed at $0.65 at the end of the last trading period.

For Canadian National Railway Co CNI, Citigroup downgraded the previous rating of Buy to Neutral. Canadian National Railway earned $1.35 in the first quarter, compared to $1.04 in the year-ago quarter. At the moment, the stock has a 52-week-high of $129.85 and a 52-week-low of $103.81. Canadian National Railway closed at $119.50 at the end of the last trading period.

For Nike Inc NKE, Williams Trading downgraded the previous rating of Hold to Sell. Nike earned $0.79 in the third quarter, compared to $0.87 in the year-ago quarter. The stock has a 52-week-high of $131.31 and a 52-week-low of $82.24. At the end of the last trading period, Nike closed at $114.76.

See all analyst ratings downgrades.

Initiations

With a Buy rating, UBS initiated coverage on ResMed Inc RMD. The price target seems to have been set at $290.00 for ResMed. For the third quarter, ResMed had an EPS of $1.68, compared to year-ago quarter EPS of $1.32. The stock has a 52-week-high of $247.51 and a 52-week-low of $190.52. At the end of the last trading period, ResMed closed at $224.51.

With a Buy rating, BWS Financial initiated coverage on TriMas Corp TRS. The price target seems to have been set at $40.00 for TriMas. In the first quarter, TriMas showed an EPS of $0.30, compared to $0.50 from the year-ago quarter. At the moment, the stock has a 52-week-high of $31.89 and a 52-week-low of $21.41. TriMas closed at $25.42 at the end of the last trading period.

CL King initiated coverage on Avanos Medical Inc AVNS with a Buy rating. The price target for Avanos Medical is set to $31.00. Avanos Medical earned $0.27 in the first quarter, compared to $0.26 in the year-ago quarter. The current stock performance of Avanos Medical shows a 52-week-high of $31.99 and a 52-week-low of $19.39. Moreover, at the end of the last trading period, the closing price was at $22.53.

Daiwa Capital initiated coverage on Legend Biotech Corp LEGN with a Buy rating. Legend Biotech earned $0.34 in the first quarter, compared to $0.10 in the year-ago quarter. At the moment, the stock has a 52-week-high of $73.30 and a 52-week-low of $37.31. Legend Biotech closed at $69.73 at the end of the last trading period.

Northland Capital Markets initiated coverage on Cardio Diagnostics Holdings Inc CDIO with an Outperform rating. The price target for Cardio Diagnostics Hldgs is set to $8.00. The current stock performance of Cardio Diagnostics Hldgs shows a 52-week-high of $8.50 and a 52-week-low of $0.89. Moreover, at the end of the last trading period, the closing price was at $1.42.

With a Buy rating, CL King initiated coverage on Conmed Corp CNMD. The price target seems to have been set at $140.00 for Conmed. For the first quarter, Conmed had an EPS of $0.66, compared to year-ago quarter EPS of $0.70. The stock has a 52-week-high of $129.65 and a 52-week-low of $71.25. At the end of the last trading period, Conmed closed at $118.96.

BTIG initiated coverage on Progyny Inc PGNY with a Buy rating. The price target for Progyny is set to $50.00. In the first quarter, Progyny showed an EPS of $0.18, compared to $0.05 from the year-ago quarter. The current stock performance of Progyny shows a 52-week-high of $46.40 and a 52-week-low of $25.67. Moreover, at the end of the last trading period, the closing price was at $37.13.

With a Buy rating, Canaccord Genuity initiated coverage on DICE Therapeutics Inc DICE. The price target seems to have been set at $71.00 for DICE Therapeutics. In the first quarter, DICE Therapeutics showed an EPS of $0.54, compared to $0.50 from the year-ago quarter. At the moment, the stock has a 52-week-high of $45.98 and a 52-week-low of $12.67. DICE Therapeutics closed at $32.66 at the end of the last trading period.

With an Outperform rating, TD Cowen initiated coverage on Travere Therapeutics Inc TVTX. The price target seems to have been set at $30.00 for Travere Therapeutics. In the first quarter, Travere Therapeutics showed an EPS of $0.82, compared to $0.82 from the year-ago quarter. The current stock performance of Travere Therapeutics shows a 52-week-high of $29.07 and a 52-week-low of $14.51. Moreover, at the end of the last trading period, the closing price was at $16.45.

Needham initiated coverage on Luna Innovations Inc LUNA with a Buy rating. The price target for Luna Innovations is set to $10.00. In the first quarter, Luna Innovations showed an EPS of $0.00, compared to $0.05 from the year-ago quarter. At the moment, the stock has a 52-week-high of $10.97 and a 52-week-low of $4.07. Luna Innovations closed at $8.15 at the end of the last trading period.

With an Overweight rating, Cantor Fitzgerald initiated coverage on ECARX Holdings Inc ECX. The price target seems to have been set at $10.00 for ECARX Holdings. The stock has a 52-week-high of $11.79 and a 52-week-low of $3.02. At the end of the last trading period, ECARX Holdings closed at $6.47.

With a Equal-Weight rating, Barclays initiated coverage on Ormat Technologies Inc ORA. The price target seems to have been set at $89.00 for Ormat Technologies. In the first quarter, Ormat Technologies showed an EPS of $0.51, compared to $0.35 from the year-ago quarter. The current stock performance of Ormat Technologies shows a 52-week-high of $101.71 and a 52-week-low of $67.28. Moreover, at the end of the last trading period, the closing price was at $83.48.

Goldman Sachs initiated coverage on Docebo Inc DCBO with a Neutral rating. The price target for Docebo is set to $37.00. Docebo earned $0.09 in the first quarter, compared to $0.21 in the year-ago quarter. The current stock performance of Docebo shows a 52-week-high of $41.48 and a 52-week-low of $23.40. Moreover, at the end of the last trading period, the closing price was at $33.50.

See all analyst ratings initiations.