Benzinga's Top Ratings Upgrades, Downgrades For August 24, 2022

Upgrades

• According to Citigroup, the prior rating for Cyxtera Technologies Inc CYXT was changed from Neutral to Buy. The current stock performance of Cyxtera Technologies shows a 52-week-high of $15.42 and a 52-week-low of $7.09. Moreover, at the end of the last trading period, the closing price was at $7.55.
• For Centennial Resource Development Inc CDEV, Truist Securities upgraded the previous rating of Hold to Buy. For the second quarter, Centennial Resource Dev had an EPS of $0.60, compared to year-ago quarter EPS of $0.03. At the moment, the stock has a 52-week-high of $9.70 and a 52-week-low of $5.08. Centennial Resource Dev closed at $7.74 at the end of the last trading period.
• Wolfe Research upgraded the previous rating for Prologis Inc PLD from Peer Perform to Outperform. In the second quarter, Prologis showed an EPS of $1.11, compared to $1.01 from the year-ago quarter. At the moment, the stock has a 52-week-high of $174.54 and a 52-week-low of $106.46. Prologis closed at $128.46 at the end of the last trading period.
• For AvalonBay Communities Inc AVB, Wolfe Research upgraded the previous rating of Peer Perform to Outperform. In the second quarter, AvalonBay Communities showed an EPS of $2.43, compared to $1.98 from the year-ago quarter. At the moment, the stock has a 52-week-high of $259.05 and a 52-week-low of $183.35. AvalonBay Communities closed at $206.67 at the end of the last trading period.

See all analyst ratings upgrades.

Downgrades

• For Catalyst Pharmaceuticals Inc CPRX, Roth Capital downgraded the previous rating of Buy to Neutral. For the second quarter, Catalyst Pharmaceuticals had an EPS of $0.28, compared to year-ago quarter EPS of $0.11. At the moment, the stock has a 52-week-high of $15.07 and a 52-week-low of $5.24. Catalyst Pharmaceuticals closed at $14.91 at the end of the last trading period.
• Truist Securities downgraded the previous rating for Aerie Pharmaceuticals Inc AERI from Buy to Hold. For the second quarter, Aerie Pharmaceuticals had an EPS of $0.32, compared to year-ago quarter EPS of $0.84. The current stock performance of Aerie Pharmaceuticals shows a 52-week-high of $15.21 and a 52-week-low of $4.81. Moreover, at the end of the last trading period, the closing price was at $15.16.
• RBC Capital downgraded the previous rating for Bank of Nova Scotia BNS from Outperform to Sector Perform. Bank of Nova Scotia earned $1.63 in the third quarter, compared to $1.64 in the year-ago quarter. The current stock performance of Bank of Nova Scotia shows a 52-week-high of $74.86 and a 52-week-low of $54.23. Moreover, at the end of the last trading period, the closing price was at $59.09.
• Rosenblatt downgraded the previous rating for Twitter Inc TWTR from Buy to Neutral. Twitter earned $0.08 in the second quarter, compared to $0.20 in the year-ago quarter. The stock has a 52-week-high of $54.57 and a 52-week-low of $31.30. At the end of the last trading period, Twitter closed at $39.86.
• Morgan Stanley downgraded the previous rating for Foghorn Therapeutics Inc FHTX from Overweight to Equal-Weight. In the second quarter, Foghorn Therapeutics showed an EPS of $0.66, compared to $0.63 from the year-ago quarter. The current stock performance of Foghorn Therapeutics shows a 52-week-high of $24.34 and a 52-week-low of $8.01. Moreover, at the end of the last trading period, the closing price was at $11.00.
• For Aerie Pharmaceuticals Inc AERI, HC Wainwright & Co. downgraded the previous rating of Buy to Neutral. In the second quarter, Aerie Pharmaceuticals showed an EPS of $0.32, compared to $0.84 from the year-ago quarter. The current stock performance of Aerie Pharmaceuticals shows a 52-week-high of $15.21 and a 52-week-low of $4.81. Moreover, at the end of the last trading period, the closing price was at $15.16.
• Barclays downgraded the previous rating for XPeng Inc XPEV from Overweight to Equal-Weight. XPeng earned $0.43 in the second quarter, compared to $0.21 in the year-ago quarter. The current stock performance of XPeng shows a 52-week-high of $51.50 and a 52-week-low of $18.01. Moreover, at the end of the last trading period, the closing price was at $18.73.
• According to Raymond James, the prior rating for Medtronic PLC MDT was changed from Outperform to Market Perform. For the first quarter, Medtronic had an EPS of $1.13, compared to year-ago quarter EPS of $1.41. The current stock performance of Medtronic shows a 52-week-high of $114.31 and a 52-week-low of $86.70. Moreover, at the end of the last trading period, the closing price was at $90.22.
• For Avalara Inc AVLR, William Blair downgraded the previous rating of Outperform to Market Perform. For the second quarter, Avalara had an EPS of $0.02, compared to year-ago quarter EPS of $0.02. At the moment, the stock has a 52-week-high of $129.34 and a 52-week-low of $66.39. Avalara closed at $91.90 at the end of the last trading period.
• According to BMO Capital, the prior rating for Bank of Nova Scotia BNS was changed from Outperform to Market Perform. In the third quarter, Bank of Nova Scotia showed an EPS of $1.63, compared to $1.64 from the year-ago quarter. The stock has a 52-week-high of $74.86 and a 52-week-low of $54.23. At the end of the last trading period, Bank of Nova Scotia closed at $59.09.

See all analyst ratings downgrades.

Initiations

• Fox Advisors initiated coverage on Benchmark Electronics Inc BHE with an Overweight rating. The price target for Benchmark Electronics is set to $35.00. Benchmark Electronics earned $0.50 in the second quarter, compared to $0.27 in the year-ago quarter. At the moment, the stock has a 52-week-high of $28.87 and a 52-week-low of $21.11. Benchmark Electronics closed at $27.66 at the end of the last trading period.
• B. Riley Securities initiated coverage on Establishment Labs Holdings Inc ESTA with a Buy rating. The price target for Establishment Labs Hldgs is set to $107.00. Establishment Labs Hldgs earned $1.52 in the second quarter, compared to $0.22 in the year-ago quarter. At the moment, the stock has a 52-week-high of $93.80 and a 52-week-low of $46.93. Establishment Labs Hldgs closed at $62.52 at the end of the last trading period.
• With a Buy rating, EF Hutton initiated coverage on FiscalNote Holdings Inc NOTE. The price target seems to have been set at $12.00 for FiscalNote Holdings. At the moment, the stock has a 52-week-high of $12.30 and a 52-week-low of $5.55. FiscalNote Holdings closed at $10.32 at the end of the last trading period.
• JMP Securities initiated coverage on VICI Properties Inc VICI with a Market Outperform rating. The price target for VICI Properties is set to $38.00. For the second quarter, VICI Properties had an EPS of $0.48, compared to year-ago quarter EPS of $0.46. The stock has a 52-week-high of $35.69 and a 52-week-low of $26.23. At the end of the last trading period, VICI Properties closed at $33.69.
• Deutsche Bank initiated coverage on Arista Networks Inc ANET with a Hold rating. The price target for Arista Networks is set to $135.00. For the second quarter, Arista Networks had an EPS of $1.08, compared to year-ago quarter EPS of $0.68. The current stock performance of Arista Networks shows a 52-week-high of $144.50 and a 52-week-low of $89.11. Moreover, at the end of the last trading period, the closing price was at $126.96.

See all analyst ratings initiations.