Benzinga's Top Ratings Upgrades, Downgrades For September 16, 2022

Upgrades

• Morgan Stanley upgraded the previous rating for Alcoa Corp AA from Equal-Weight to Overweight. Alcoa earned $2.67 in the second quarter, compared to $1.49 in the year-ago quarter. The current stock performance of Alcoa shows a 52-week-high of $98.09 and a 52-week-low of $39.56. Moreover, at the end of the last trading period, the closing price was at $43.14.
• For Southern Copper Corp SCCO, Morgan Stanley upgraded the previous rating of Underweight to Equal-Weight. For the second quarter, Southern Copper had an EPS of $0.56, compared to year-ago quarter EPS of $1.21. At the moment, the stock has a 52-week-high of $79.31 and a 52-week-low of $44.31. Southern Copper closed at $46.76 at the end of the last trading period.
• According to Morgan Stanley, the prior rating for Teck Resources Ltd TECK was changed from Equal-Weight to Overweight. In the second quarter, Teck Resources showed an EPS of $2.55, compared to $0.51 from the year-ago quarter. The stock has a 52-week-high of $45.90 and a 52-week-low of $24.72. At the end of the last trading period, Teck Resources closed at $32.35.
• Cowen & Co. upgraded the previous rating for Shoals Technologies Group Inc SHLS from Market Perform to Outperform. In the second quarter, Shoals Technologies Gr showed an EPS of $0.07, compared to $0.09 from the year-ago quarter. The current stock performance of Shoals Technologies Gr shows a 52-week-high of $28.47 and a 52-week-low of $9.58. Moreover, at the end of the last trading period, the closing price was at $24.78.

See all analyst ratings upgrades.

Downgrades

• For Vermilion Energy Inc VET, Scotiabank downgraded the previous rating of Sector Outperform to Sector Perform. Vermilion Energy earned $1.72 in the second quarter, compared to $2.27 in the year-ago quarter. The current stock performance of Vermilion Energy shows a 52-week-high of $30.17 and a 52-week-low of $12.52. Moreover, at the end of the last trading period, the closing price was at $24.88.
• For DXC Technology Co DXC, Susquehanna downgraded the previous rating of Positive to Neutral. DXC Technology earned $0.75 in the first quarter, compared to $0.84 in the year-ago quarter. The stock has a 52-week-high of $39.65 and a 52-week-low of $23.99. At the end of the last trading period, DXC Technology closed at $27.47.
• According to Susquehanna, the prior rating for Infosys Ltd INFY was changed from Positive to Neutral. Infosys earned $0.16 in the first quarter, compared to $0.17 in the year-ago quarter. The stock has a 52-week-high of $26.39 and a 52-week-low of $17.51. At the end of the last trading period, Infosys closed at $17.79.
• For FedEx Corp FDX, Loop Capital downgraded the previous rating of Buy to Hold. In the fourth quarter, FedEx showed an EPS of $6.87, compared to $5.01 from the year-ago quarter. At the moment, the stock has a 52-week-high of $266.79 and a 52-week-low of $192.82. FedEx closed at $204.87 at the end of the last trading period.
• According to Barclays, the prior rating for Adobe Inc ADBE was changed from Overweight to Equal-Weight. In the third quarter, Adobe showed an EPS of $3.40, compared to $3.11 from the year-ago quarter. At the moment, the stock has a 52-week-high of $575.00 and a 52-week-low of $305.00. Adobe closed at $309.13 at the end of the last trading period.
• Wells Fargo downgraded the previous rating for Arrow Electronics Inc ARW from Equal-Weight to Underweight. Arrow Electronics earned $5.78 in the second quarter, compared to $3.34 in the year-ago quarter. The stock has a 52-week-high of $137.95 and a 52-week-low of $98.39. At the end of the last trading period, Arrow Electronics closed at $99.81.
• According to Wells Fargo, the prior rating for Avnet Inc AVT was changed from Equal-Weight to Underweight. For the fourth quarter, Avnet had an EPS of $2.07, compared to year-ago quarter EPS of $1.12. The stock has a 52-week-high of $50.19 and a 52-week-low of $36.66. At the end of the last trading period, Avnet closed at $40.11.
• B of A Securities downgraded the previous rating for Adobe Inc ADBE from Buy to Neutral. In the third quarter, Adobe showed an EPS of $3.40, compared to $3.11 from the year-ago quarter. The stock has a 52-week-high of $575.00 and a 52-week-low of $305.00. At the end of the last trading period, Adobe closed at $309.13.
• For International Paper Co IP, Jefferies downgraded the previous rating of Hold to Underperform. International Paper earned $1.24 in the second quarter, compared to $1.06 in the year-ago quarter. At the moment, the stock has a 52-week-high of $50.23 and a 52-week-low of $39.37. International Paper closed at $39.68 at the end of the last trading period.
• Baird downgraded the previous rating for Adobe Inc ADBE from Outperform to Neutral. In the third quarter, Adobe showed an EPS of $3.40, compared to $3.11 from the year-ago quarter. At the moment, the stock has a 52-week-high of $575.00 and a 52-week-low of $305.00. Adobe closed at $309.13 at the end of the last trading period.
• For FedEx Corp FDX, JP Morgan downgraded the previous rating of Overweight to Neutral. For the fourth quarter, FedEx had an EPS of $6.87, compared to year-ago quarter EPS of $5.01. The current stock performance of FedEx shows a 52-week-high of $266.79 and a 52-week-low of $192.82. Moreover, at the end of the last trading period, the closing price was at $204.87.
• Keybanc downgraded the previous rating for FedEx Corp FDX from Overweight to Sector Weight. FedEx earned $6.87 in the fourth quarter, compared to $5.01 in the year-ago quarter. The current stock performance of FedEx shows a 52-week-high of $266.79 and a 52-week-low of $192.82. Moreover, at the end of the last trading period, the closing price was at $204.87.

See all analyst ratings downgrades.

Initiations

• Stifel initiated coverage on PureCycle Technologies Inc PCT with a Buy rating. The price target for PureCycle Technologies is set to $15.00. PureCycle Technologies earned $0.09 in the second quarter, compared to $0.13 in the year-ago quarter. At the moment, the stock has a 52-week-high of $10.95 and a 52-week-low of $4.94. PureCycle Technologies closed at $9.90 at the end of the last trading period.
• With a Buy rating, Needham initiated coverage on Snowflake Inc SNOW. The price target seems to have been set at $240.00 for Snowflake. In the second quarter, Snowflake showed an EPS of $0.01, compared to $0.04 from the year-ago quarter. At the moment, the stock has a 52-week-high of $344.00 and a 52-week-low of $110.27. Snowflake closed at $196.49 at the end of the last trading period.
• For Allscripts Healthcare Solutions Inc MDRX, Keybanc initiated coverage, by setting the current rating at Sector Weight. Allscripts Healthcare earned $0.18 in the second quarter, compared to $0.23 in the year-ago quarter. The current stock performance of Allscripts Healthcare shows a 52-week-high of $23.25 and a 52-week-low of $13.99. Moreover, at the end of the last trading period, the closing price was at $16.67.
• With an Overweight rating, Keybanc initiated coverage on Benefitfocus Inc BNFT. The price target seems to have been set at $10.00 for Benefitfocus. Benefitfocus earned $0.10 in the second quarter, compared to $0.18 in the year-ago quarter. The stock has a 52-week-high of $13.05 and a 52-week-low of $6.24. At the end of the last trading period, Benefitfocus closed at $6.62.
• For Doximity Inc DOCS, Keybanc initiated coverage, by setting the current rating at Sector Weight. For the first quarter, Doximity had an EPS of $0.14, compared to year-ago quarter EPS of $0.11. The stock has a 52-week-high of $64.95 and a 52-week-low of $27.06. At the end of the last trading period, Doximity closed at $32.65.
• For GoodRx Holdings Inc GDRX, Keybanc initiated coverage, by setting the current rating at Sector Weight. GoodRx Holdings earned $0.06 in the second quarter, compared to $0.08 in the year-ago quarter. The stock has a 52-week-high of $33.15 and a 52-week-low of $5.58. At the end of the last trading period, GoodRx Holdings closed at $6.51.
• Keybanc initiated coverage on Omnicell Inc OMCL with an Overweight rating. The price target for Omnicell is set to $130.00. For the second quarter, Omnicell had an EPS of $0.84, compared to year-ago quarter EPS of $0.97. The stock has a 52-week-high of $182.77 and a 52-week-low of $95.43. At the end of the last trading period, Omnicell closed at $95.76.
• Keybanc initiated coverage on Phreesia Inc PHR with an Overweight rating. The price target for Phreesia is set to $40.00. In the second quarter, Phreesia showed an EPS of $0.89, compared to $0.48 from the year-ago quarter. The current stock performance of Phreesia shows a 52-week-high of $43.47 and a 52-week-low of $13.19. Moreover, at the end of the last trading period, the closing price was at $28.72.
• With an Overweight rating, Keybanc initiated coverage on Recursion Pharmaceuticals Inc RXRX. The price target seems to have been set at $20.00 for Recursion Pharmaceuticals. In the second quarter, Recursion Pharmaceuticals showed an EPS of $0.38, compared to $0.31 from the year-ago quarter. The current stock performance of Recursion Pharmaceuticals shows a 52-week-high of $18.23 and a 52-week-low of $4.92. Moreover, at the end of the last trading period, the closing price was at $13.11.
• For Teladoc Health Inc TDOC, Keybanc initiated coverage, by setting the current rating at Sector Weight. In the second quarter, Teladoc Health showed an EPS of $0.44, compared to $0.86 from the year-ago quarter. At the moment, the stock has a 52-week-high of $95.71 and a 52-week-low of $27.38. Teladoc Health closed at $31.89 at the end of the last trading period.
• With an Overweight rating, Keybanc initiated coverage on Veeva Systems Inc VEEV. The price target seems to have been set at $220.00 for Veeva Sys. Veeva Sys earned $1.03 in the second quarter, compared to $0.94 in the year-ago quarter. The stock has a 52-week-high of $257.68 and a 52-week-low of $152.04. At the end of the last trading period, Veeva Sys closed at $174.83.
• With a Buy rating, MKM Partners initiated coverage on CyberArk Software Ltd CYBR. The price target seems to have been set at $190.00 for CyberArk Software. For the second quarter, CyberArk Software had an EPS of $0.27, compared to year-ago quarter EPS of $0.01. The stock has a 52-week-high of $180.01 and a 52-week-low of $100.35. At the end of the last trading period, CyberArk Software closed at $153.20.
• With a Buy rating, MKM Partners initiated coverage on CrowdStrike Holdings Inc CRWD. The price target seems to have been set at $240.00 for CrowdStrike Holdings. For the second quarter, CrowdStrike Holdings had an EPS of $0.36, compared to year-ago quarter EPS of $0.11. At the moment, the stock has a 52-week-high of $242.00 and a 52-week-low of $130.00. CrowdStrike Holdings closed at $178.86 at the end of the last trading period.
• MKM Partners initiated coverage on Fortinet Inc FTNT with a Buy rating. The price target for Fortinet is set to $70.00. Fortinet earned $0.24 in the second quarter, compared to $0.19 in the year-ago quarter. At the moment, the stock has a 52-week-high of $362.12 and a 52-week-low of $47.37. Fortinet closed at $50.82 at the end of the last trading period.
• MKM Partners initiated coverage on Zscaler Inc ZS with a Buy rating. The price target for Zscaler is set to $225.00. Zscaler earned $0.25 in the fourth quarter, compared to $0.14 in the year-ago quarter. At the moment, the stock has a 52-week-high of $323.55 and a 52-week-low of $125.12. Zscaler closed at $175.99 at the end of the last trading period.
• Truist Securities initiated coverage on Fusion Pharmaceuticals Inc FUSN with a Buy rating. The price target for Fusion Pharmaceuticals is set to $10.00. Fusion Pharmaceuticals earned $0.44 in the second quarter, compared to $0.63 in the year-ago quarter. At the moment, the stock has a 52-week-high of $8.73 and a 52-week-low of $1.99. Fusion Pharmaceuticals closed at $3.15 at the end of the last trading period.
• With a Buy rating, Truist Securities initiated coverage on POINT Biopharma Global Inc PNT. The price target seems to have been set at $22.00 for POINT Biopharma Global. For the second quarter, POINT Biopharma Global had an EPS of $0.27, compared to year-ago quarter EPS of $0.15. The current stock performance of POINT Biopharma Global shows a 52-week-high of $10.98 and a 52-week-low of $5.22. Moreover, at the end of the last trading period, the closing price was at $8.44.
• Stifel initiated coverage on Canoo Inc GOEV with a Buy rating. The price target for Canoo is set to $4.00. Canoo earned $0.68 in the second quarter, compared to $0.50 in the year-ago quarter. The stock has a 52-week-high of $8.24 and a 52-week-low of $1.75. At the end of the last trading period, Canoo closed at $2.80.
• Wedbush initiated coverage on Vigil Neuroscience Inc VIGL with an Outperform rating. The price target for Vigil Neuroscience is set to $19.00. At the moment, the stock has a 52-week-high of $18.27 and a 52-week-low of $2.18. Vigil Neuroscience closed at $8.24 at the end of the last trading period.

See all analyst ratings initiations.