Benzinga's Top Ratings Upgrades, Downgrades For July 20, 2023

Upgrades

Raymond James upgraded the previous rating for RB Global Inc RBA from Market Perform to Outperform. For the first quarter, RB Global had an EPS of $0.57, compared to year-ago quarter EPS of $0.46. The stock has a 52-week-high of $72.68 and a 52-week-low of $48.75. At the end of the last trading period, RB Global closed at $62.18.

Raymond James upgraded the previous rating for U.S. Bancorp USB from Underperform to Market Perform. U.S. Bancorp earned $1.12 in the second quarter, compared to $1.09 in the year-ago quarter. The stock has a 52-week-high of $49.95 and a 52-week-low of $27.27. At the end of the last trading period, U.S. Bancorp closed at $38.91.

For Host Hotels & Resorts Inc HST, Oppenheimer upgraded the previous rating of Perform to Outperform. Host Hotels & Resorts earned $0.55 in the first quarter, compared to $0.39 in the year-ago quarter. At the moment, the stock has a 52-week-high of $19.75 and a 52-week-low of $14.51. Host Hotels & Resorts closed at $17.67 at the end of the last trading period.

For Prologis Inc PLD, Exane BNP Paribas upgraded the previous rating of Neutral to Outperform. Prologis earned $1.83 in the second quarter, compared to $1.11 in the year-ago quarter. At the moment, the stock has a 52-week-high of $138.86 and a 52-week-low of $98.05. Prologis closed at $122.78 at the end of the last trading period.

According to Morgan Stanley, the prior rating for Anheuser-Busch InBev SA/NV BUD was changed from Equal-Weight to Overweight. In the first quarter, Anheuser-Busch InBev showed an EPS of $0.65, compared to $0.67 from the year-ago quarter. The stock has a 52-week-high of $67.09 and a 52-week-low of $44.52. At the end of the last trading period, Anheuser-Busch InBev closed at $58.43.

Credit Suisse upgraded the previous rating for XP Inc XP from Underperform to Neutral. In the first quarter, XP showed an EPS of $0.28, compared to $0.28 from the year-ago quarter. The stock has a 52-week-high of $25.18 and a 52-week-low of $10.30. At the end of the last trading period, XP closed at $23.82.

Stifel upgraded the previous rating for Cadence Design Systems Inc CDNS from Hold to Buy. For the first quarter, Cadence Design Sys had an EPS of $1.29, compared to year-ago quarter EPS of $1.17. The stock has a 52-week-high of $245.58 and a 52-week-low of $138.78. At the end of the last trading period, Cadence Design Sys closed at $242.49.

According to Piper Sandler, the prior rating for Olo Inc OLO was changed from Neutral to Overweight. In the first quarter, Olo showed an EPS of $0.03, compared to $0.01 from the year-ago quarter. The stock has a 52-week-high of $14.07 and a 52-week-low of $5.74. At the end of the last trading period, Olo closed at $6.72.

See all analyst ratings upgrades.

Downgrades

Oppenheimer downgraded the previous rating for RLJ Lodging Trust RLJ from Outperform to Perform. RLJ Lodging earned $0.03 in the first quarter, compared to $0.13 in the year-ago quarter. At the moment, the stock has a 52-week-high of $13.48 and a 52-week-low of $9.27. RLJ Lodging closed at $10.09 at the end of the last trading period.

Oppenheimer downgraded the previous rating for Hersha Hospitality Trust HT from Outperform to Perform. For the first quarter, Hersha Hospitality had an EPS of $0.02, compared to year-ago quarter EPS of $0.06. The current stock performance of Hersha Hospitality shows a 52-week-high of $12.09 and a 52-week-low of $5.64. Moreover, at the end of the last trading period, the closing price was at $6.37.

For Chatham Lodging Trust CLDT, Oppenheimer downgraded the previous rating of Outperform to Perform. In the first quarter, Chatham Lodging showed an EPS of $0.16, compared to $0.07 from the year-ago quarter. The current stock performance of Chatham Lodging shows a 52-week-high of $14.38 and a 52-week-low of $9.02. Moreover, at the end of the last trading period, the closing price was at $9.65.

For Braemar Hotels & Resorts Inc BHR, Oppenheimer downgraded the previous rating of Outperform to Perform. Braemar Hotels & Resorts earned $0.44 in the first quarter, compared to $0.41 in the year-ago quarter. The stock has a 52-week-high of $5.85 and a 52-week-low of $3.42. At the end of the last trading period, Braemar Hotels & Resorts closed at $3.88.

For The Estee Lauder Companies Inc EL, Barclays downgraded the previous rating of Overweight to Equal-Weight. In the third quarter, Estee Lauder Cos showed an EPS of $0.47, compared to $1.90 from the year-ago quarter. The stock has a 52-week-high of $284.27 and a 52-week-low of $175.05. At the end of the last trading period, Estee Lauder Cos closed at $190.97.

According to Benchmark, the prior rating for Owens-Corning Inc OC was changed from Buy to Hold. Owens-Corning earned $2.77 in the first quarter, compared to $2.92 in the year-ago quarter. The current stock performance of Owens-Corning shows a 52-week-high of $138.25 and a 52-week-low of $74.25. Moreover, at the end of the last trading period, the closing price was at $136.34.

For Omnicell Inc OMCL, Wells Fargo downgraded the previous rating of Overweight to Underweight. Omnicell earned $0.39 in the first quarter, compared to $0.83 in the year-ago quarter. The current stock performance of Omnicell shows a 52-week-high of $114.31 and a 52-week-low of $46.19. Moreover, at the end of the last trading period, the closing price was at $67.42.

According to Edward Jones, the prior rating for Activision Blizzard Inc ATVI was changed from Buy to Hold. In the second quarter, Activision Blizzard showed an EPS of $1.08, compared to $0.47 from the year-ago quarter. The stock has a 52-week-high of $93.67 and a 52-week-low of $70.94. At the end of the last trading period, Activision Blizzard closed at $92.20.

According to Barclays, the prior rating for Skyworks Solutions Inc SWKS was changed from Overweight to Equal-Weight. Skyworks Solutions earned $2.02 in the second quarter, compared to $2.63 in the year-ago quarter. The stock has a 52-week-high of $123.69 and a 52-week-low of $76.17. At the end of the last trading period, Skyworks Solutions closed at $114.50.

For Enphase Energy Inc ENPH, Wolfe Research downgraded the previous rating of Outperform to Peer Perform. For the first quarter, Enphase Energy had an EPS of $1.37, compared to year-ago quarter EPS of $0.79. The current stock performance of Enphase Energy shows a 52-week-high of $339.88 and a 52-week-low of $152.15. Moreover, at the end of the last trading period, the closing price was at $185.49.

According to UBS, the prior rating for Activision Blizzard Inc ATVI was changed from Buy to Neutral. In the second quarter, Activision Blizzard showed an EPS of $1.08, compared to $0.47 from the year-ago quarter. At the moment, the stock has a 52-week-high of $93.67 and a 52-week-low of $70.94. Activision Blizzard closed at $92.20 at the end of the last trading period.

According to Deutsche Bank, the prior rating for Avis Budget Group Inc CAR was changed from Buy to Hold. For the first quarter, Avis Budget Gr had an EPS of $7.72, compared to year-ago quarter EPS of $9.99. At the moment, the stock has a 52-week-high of $251.26 and a 52-week-low of $131.85. Avis Budget Gr closed at $239.48 at the end of the last trading period.

Truist Securities downgraded the previous rating for Heritage-Crystal Clean Inc HCCI from Buy to Hold. In the first quarter, Heritage-Crystal Clean showed an EPS of $0.70, compared to $0.54 from the year-ago quarter. The current stock performance of Heritage-Crystal Clean shows a 52-week-high of $42.80 and a 52-week-low of $25.80. Moreover, at the end of the last trading period, the closing price was at $41.94.

For United Community Banks Inc UCBI, Keefe, Bruyette & Woods downgraded the previous rating of Outperform to Market Perform. In the second quarter, United Community Banks showed an EPS of $0.55, compared to $0.66 from the year-ago quarter. The current stock performance of United Community Banks shows a 52-week-high of $39.48 and a 52-week-low of $20.37. Moreover, at the end of the last trading period, the closing price was at $28.21.

For Nicolet Bankshares Inc NIC, Keefe, Bruyette & Woods downgraded the previous rating of Outperform to Market Perform. Nicolet Bankshares earned $1.53 in the second quarter, compared to $1.73 in the year-ago quarter. The current stock performance of Nicolet Bankshares shows a 52-week-high of $86.00 and a 52-week-low of $51.76. Moreover, at the end of the last trading period, the closing price was at $79.38.

For Carvana Co CVNA, RBC Capital downgraded the previous rating of Sector Perform to Underperform. For the second quarter, Carvana had an EPS of $0.55, compared to year-ago quarter EPS of $2.35. The current stock performance of Carvana shows a 52-week-high of $58.01 and a 52-week-low of $3.56. Moreover, at the end of the last trading period, the closing price was at $55.80.

According to Morgan Stanley, the prior rating for Diageo PLC DEO was changed from Equal-Weight to Underweight. At the moment, the stock has a 52-week-high of $194.01 and a 52-week-low of $160.09. Diageo closed at $179.68 at the end of the last trading period.

For Activision Blizzard Inc ATVI, Jefferies downgraded the previous rating of Buy to Hold. For the second quarter, Activision Blizzard had an EPS of $1.08, compared to year-ago quarter EPS of $0.47. The current stock performance of Activision Blizzard shows a 52-week-high of $93.67 and a 52-week-low of $70.94. Moreover, at the end of the last trading period, the closing price was at $92.20.

Citigroup downgraded the previous rating for Activision Blizzard Inc ATVI from Buy to Hold. In the second quarter, Activision Blizzard showed an EPS of $1.08, compared to $0.47 from the year-ago quarter. At the moment, the stock has a 52-week-high of $93.67 and a 52-week-low of $70.94. Activision Blizzard closed at $92.20 at the end of the last trading period.

See all analyst ratings downgrades.

Initiations

Barclays initiated coverage on Kura Sushi USA Inc KRUS with a Equal-Weight rating. The price target for Kura Sushi USA is set to $95.00. For the third quarter, Kura Sushi USA had an EPS of $0.16, compared to year-ago quarter EPS of $0.05. The current stock performance of Kura Sushi USA shows a 52-week-high of $110.00 and a 52-week-low of $37.97. Moreover, at the end of the last trading period, the closing price was at $99.44.

With a Equal-Weight rating, Wells Fargo initiated coverage on Catalent Inc CTLT. The price target seems to have been set at $43.00 for Catalent. In the third quarter, Catalent showed an EPS of $0.09, compared to $1.04 from the year-ago quarter. The stock has a 52-week-high of $115.30 and a 52-week-low of $31.45. At the end of the last trading period, Catalent closed at $46.32.

Raymond James initiated coverage on Kratos Defense & Security Solutions Inc KTOS with an Outperform rating. The price target for Kratos Defense & Security is set to $17.00. Kratos Defense & Security earned $0.06 in the first quarter, compared to $0.04 in the year-ago quarter. At the moment, the stock has a 52-week-high of $16.22 and a 52-week-low of $8.90. Kratos Defense & Security closed at $13.35 at the end of the last trading period.

With a Buy rating, Northcoast Research initiated coverage on ATI Inc ATI. The price target seems to have been set at $54.00 for ATI. ATI earned $0.49 in the first quarter, compared to $0.40 in the year-ago quarter. The current stock performance of ATI shows a 52-week-high of $47.27 and a 52-week-low of $22.76. Moreover, at the end of the last trading period, the closing price was at $45.46.

With an Overweight rating, Wells Fargo initiated coverage on Inotiv Inc NOTV. The price target seems to have been set at $9.00 for Inotiv. Inotiv earned $0.39 in the second quarter, compared to $0.24 in the year-ago quarter. The current stock performance of Inotiv shows a 52-week-high of $27.10 and a 52-week-low of $3.65. Moreover, at the end of the last trading period, the closing price was at $5.07.

With a Buy rating, Truist Securities initiated coverage on Integral Ad Science Holding Corp IAS. The price target seems to have been set at $25.00 for Integral Ad Science. For the first quarter, Integral Ad Science had an EPS of $0.02, compared to year-ago quarter EPS of $0.01. At the moment, the stock has a 52-week-high of $20.29 and a 52-week-low of $6.64. Integral Ad Science closed at $19.80 at the end of the last trading period.

With an Overweight rating, Wells Fargo initiated coverage on Repligen Corp RGEN. The price target seems to have been set at $185.00 for Repligen. For the first quarter, Repligen had an EPS of $0.64, compared to year-ago quarter EPS of $0.92. The current stock performance of Repligen shows a 52-week-high of $262.26 and a 52-week-low of $134.64. Moreover, at the end of the last trading period, the closing price was at $158.59.

Exane BNP Paribas initiated coverage on Arista Networks Inc ANET with an Outperform rating. The price target for Arista Networks is set to $210.00. For the first quarter, Arista Networks had an EPS of $1.43, compared to year-ago quarter EPS of $0.84. The current stock performance of Arista Networks shows a 52-week-high of $178.36 and a 52-week-low of $98.72. Moreover, at the end of the last trading period, the closing price was at $176.26.

With a Neutral rating, Exane BNP Paribas initiated coverage on Juniper Networks Inc JNPR. The price target seems to have been set at $31.00 for Juniper Networks. In the first quarter, Juniper Networks showed an EPS of $0.48, compared to $0.31 from the year-ago quarter. The current stock performance of Juniper Networks shows a 52-week-high of $34.53 and a 52-week-low of $25.18. Moreover, at the end of the last trading period, the closing price was at $30.22.

Exane BNP Paribas initiated coverage on Cisco Systems Inc CSCO with an Underperform rating. The price target for Cisco Systems is set to $45.00. Cisco Systems earned $1.00 in the third quarter, compared to $0.87 in the year-ago quarter. At the moment, the stock has a 52-week-high of $52.56 and a 52-week-low of $38.61. Cisco Systems closed at $52.43 at the end of the last trading period.

Jefferies initiated coverage on Alexandria Real Estate Equities Inc ARE with a Buy rating. The price target for Alexandria Real Estate is set to $142.00. For the first quarter, Alexandria Real Estate had an EPS of $2.19, compared to year-ago quarter EPS of $2.05. The current stock performance of Alexandria Real Estate shows a 52-week-high of $172.65 and a 52-week-low of $108.81. Moreover, at the end of the last trading period, the closing price was at $119.42.

Morgan Stanley initiated coverage on Karuna Therapeutics Inc KRTX with an Overweight rating. The price target for Karuna Therapeutics is set to $280.00. For the first quarter, Karuna Therapeutics had an EPS of $2.80, compared to year-ago quarter EPS of $1.95. At the moment, the stock has a 52-week-high of $277.88 and a 52-week-low of $122.75. Karuna Therapeutics closed at $205.00 at the end of the last trading period.

With a Neutral rating, Goldman Sachs initiated coverage on SEMrush Holdings Inc SEMR. The price target seems to have been set at $10.50 for SEMrush Hldgs. In the first quarter, SEMrush Hldgs showed an EPS of $0.07, compared to $0.02 from the year-ago quarter. The stock has a 52-week-high of $14.48 and a 52-week-low of $7.17. At the end of the last trading period, SEMrush Hldgs closed at $10.37.

B. Riley Securities initiated coverage on Cars.com Inc CARS with a Buy rating. The price target for Cars.com is set to $26.00. For the first quarter, Cars.com had an EPS of $0.17, compared to year-ago quarter EPS of $0.06. At the moment, the stock has a 52-week-high of $21.74 and a 52-week-low of $10.52. Cars.com closed at $21.00 at the end of the last trading period.

With a Buy rating, B. Riley Securities initiated coverage on CarGurus Inc CARG. The price target seems to have been set at $28.00 for CarGurus. For the first quarter, CarGurus had an EPS of $0.26, compared to year-ago quarter EPS of $0.36. The stock has a 52-week-high of $26.39 and a 52-week-low of $9.28. At the end of the last trading period, CarGurus closed at $23.58.

With a Neutral rating, B. Riley Securities initiated coverage on TrueCar Inc TRUE. The price target seems to have been set at $3.00 for TrueCar. For the first quarter, TrueCar had an EPS of $0.22, compared to year-ago quarter EPS of $0.13. The current stock performance of TrueCar shows a 52-week-high of $3.49 and a 52-week-low of $1.30. Moreover, at the end of the last trading period, the closing price was at $2.39.

With a Buy rating, B. Riley Securities initiated coverage on ACV Auctions Inc ACVA. The price target seems to have been set at $23.00 for ACV Auctions. In the first quarter, ACV Auctions showed an EPS of $0.11, compared to $0.19 from the year-ago quarter. The stock has a 52-week-high of $18.68 and a 52-week-low of $6.52. At the end of the last trading period, ACV Auctions closed at $17.40.

Wolfe Research initiated coverage on GLOBALFOUNDRIES Inc GFS with an Outperform rating. The price target for GLOBALFOUNDRIES is set to $80.00. In the first quarter, GLOBALFOUNDRIES showed an EPS of $0.52, compared to $0.42 from the year-ago quarter. The stock has a 52-week-high of $72.50 and a 52-week-low of $44.47. At the end of the last trading period, GLOBALFOUNDRIES closed at $66.73.

Wolfe Research initiated coverage on Microchip Technology Inc MCHP with a Peer Perform rating. Microchip Technology earned $1.64 in the fourth quarter, compared to $1.35 in the year-ago quarter. The stock has a 52-week-high of $93.58 and a 52-week-low of $54.80. At the end of the last trading period, Microchip Technology closed at $91.73.

With an Outperform rating, Wolfe Research initiated coverage on Qualcomm Inc QCOM. The price target seems to have been set at $145.00 for Qualcomm. For the second quarter, Qualcomm had an EPS of $2.15, compared to year-ago quarter EPS of $3.21. The stock has a 52-week-high of $156.65 and a 52-week-low of $101.47. At the end of the last trading period, Qualcomm closed at $124.42.

For Allegro Microsystems Inc ALGM, Wolfe Research initiated coverage, by setting the current rating at Peer Perform. For the fourth quarter, Allegro Microsystems had an EPS of $0.37, compared to year-ago quarter EPS of $0.21. At the moment, the stock has a 52-week-high of $53.05 and a 52-week-low of $19.80. Allegro Microsystems closed at $52.17 at the end of the last trading period.

With an Outperform rating, Wolfe Research initiated coverage on SiTime Corp SITM. The price target seems to have been set at $160.00 for SiTime. SiTime earned $0.09 in the first quarter, compared to $0.94 in the year-ago quarter. The stock has a 52-week-high of $209.66 and a 52-week-low of $73.10. At the end of the last trading period, SiTime closed at $129.57.

Wolfe Research initiated coverage on Marvell Technology Inc MRVL with an Outperform rating. The price target for Marvell Tech is set to $80.00. Marvell Tech earned $0.31 in the first quarter, compared to $0.52 in the year-ago quarter. At the moment, the stock has a 52-week-high of $67.99 and a 52-week-low of $33.75. Marvell Tech closed at $65.63 at the end of the last trading period.

Wolfe Research initiated coverage on NXP Semiconductors NV NXPI with a Peer Perform rating. In the first quarter, NXP Semiconductors showed an EPS of $3.19, compared to $3.34 from the year-ago quarter. The current stock performance of NXP Semiconductors shows a 52-week-high of $224.40 and a 52-week-low of $132.17. Moreover, at the end of the last trading period, the closing price was at $220.28.

With an Outperform rating, Wolfe Research initiated coverage on NVIDIA Corp NVDA. The price target seems to have been set at $570.00 for NVIDIA. In the first quarter, NVIDIA showed an EPS of $1.09, compared to $1.36 from the year-ago quarter. The current stock performance of NVIDIA shows a 52-week-high of $480.88 and a 52-week-low of $108.14. Moreover, at the end of the last trading period, the closing price was at $470.77.

Wolfe Research initiated coverage on ON Semiconductor Corp ON with a Peer Perform rating. For the first quarter, ON Semiconductor had an EPS of $1.19, compared to year-ago quarter EPS of $1.22. The stock has a 52-week-high of $105.35 and a 52-week-low of $54.93. At the end of the last trading period, ON Semiconductor closed at $101.91.

Wolfe Research initiated coverage on Intel Corp INTC with an Underperform rating. The price target for Intel is set to $27.00. Intel earned $0.04 in the first quarter, compared to $0.87 in the year-ago quarter. The stock has a 52-week-high of $40.73 and a 52-week-low of $24.59. At the end of the last trading period, Intel closed at $34.46.

With an Outperform rating, Wolfe Research initiated coverage on Advanced Micro Devices Inc AMD. The price target seems to have been set at $150.00 for Advanced Micro Devices. Advanced Micro Devices earned $0.60 in the first quarter, compared to $1.13 in the year-ago quarter. The current stock performance of Advanced Micro Devices shows a 52-week-high of $132.83 and a 52-week-low of $54.58. Moreover, at the end of the last trading period, the closing price was at $116.43.

For Texas Instruments Inc TXN, Wolfe Research initiated coverage, by setting the current rating at Peer Perform. For the first quarter, Texas Instruments had an EPS of $1.85, compared to year-ago quarter EPS of $2.35. The stock has a 52-week-high of $186.30 and a 52-week-low of $145.98. At the end of the last trading period, Texas Instruments closed at $183.67.

Wolfe Research initiated coverage on Monolithic Power Systems Inc MPWR with a Peer Perform rating. For the first quarter, Monolithic Power Systems had an EPS of $3.00, compared to year-ago quarter EPS of $2.45. At the moment, the stock has a 52-week-high of $595.98 and a 52-week-low of $303.30. Monolithic Power Systems closed at $574.51 at the end of the last trading period.

Wolfe Research initiated coverage on Micron Technology Inc MU with an Outperform rating. The price target for Micron Technology is set to $80.00. For the third quarter, Micron Technology had an EPS of $1.43, compared to year-ago quarter EPS of $2.59. At the moment, the stock has a 52-week-high of $74.77 and a 52-week-low of $48.43. Micron Technology closed at $64.96 at the end of the last trading period.

With an Outperform rating, Wolfe Research initiated coverage on Skyworks Solutions Inc SWKS. The price target seems to have been set at $135.00 for Skyworks Solutions. Skyworks Solutions earned $2.02 in the second quarter, compared to $2.63 in the year-ago quarter. At the moment, the stock has a 52-week-high of $123.69 and a 52-week-low of $76.17. Skyworks Solutions closed at $114.50 at the end of the last trading period.

Wolfe Research initiated coverage on Analog Devices Inc ADI with a Peer Perform rating. In the second quarter, Analog Devices showed an EPS of $2.83, compared to $2.40 from the year-ago quarter. The stock has a 52-week-high of $199.44 and a 52-week-low of $133.48. At the end of the last trading period, Analog Devices closed at $195.79.

Wolfe Research initiated coverage on Broadcom Inc AVGO with a Peer Perform rating. In the second quarter, Broadcom showed an EPS of $10.32, compared to $9.07 from the year-ago quarter. At the moment, the stock has a 52-week-high of $921.78 and a 52-week-low of $415.35. Broadcom closed at $901.37 at the end of the last trading period.

Wolfe Research initiated coverage on Qorvo Inc QRVO with an Outperform rating. The price target for Qorvo is set to $125.00. Qorvo earned $0.26 in the fourth quarter, compared to $3.12 in the year-ago quarter. The stock has a 52-week-high of $114.59 and a 52-week-low of $75.58. At the end of the last trading period, Qorvo closed at $105.84.

See all analyst ratings initiations.