Benzinga's Top Ratings Upgrades, Downgrades For August 17, 2023

Upgrades

According to Craig-Hallum, the prior rating for Tower Semiconductor Ltd TSEM was changed from Hold to Buy. In the second quarter, Tower Semiconductor showed an EPS of $0.46, compared to $0.53 from the year-ago quarter. The stock has a 52-week-high of $47.74 and a 52-week-low of $29.80. At the end of the last trading period, Tower Semiconductor closed at $30.17.

For Adobe Inc ADBE, B of A Securities upgraded the previous rating of Neutral to Buy. Adobe earned $3.91 in the second quarter, compared to $3.35 in the year-ago quarter. The current stock performance of Adobe shows a 52-week-high of $552.94 and a 52-week-low of $274.80. Moreover, at the end of the last trading period, the closing price was at $514.49.

According to Citigroup, the prior rating for America Movil SAB de CV AMX was changed from Neutral to Buy. America Movil earned $0.51 in the first quarter, compared to $0.47 in the year-ago quarter. The current stock performance of America Movil shows a 52-week-high of $23.07 and a 52-week-low of $15.68. Moreover, at the end of the last trading period, the closing price was at $18.63.

Rosenblatt upgraded the previous rating for Coherent Corp COHR from Neutral to Buy. In the fourth quarter, Coherent showed an EPS of $0.41, compared to $0.98 from the year-ago quarter. The current stock performance of Coherent shows a 52-week-high of $60.46 and a 52-week-low of $26.29. Moreover, at the end of the last trading period, the closing price was at $32.97.

Wolfe Research upgraded the previous rating for Hexcel Corp HXL from Peer Perform to Outperform. In the second quarter, Hexcel showed an EPS of $0.50, compared to $0.33 from the year-ago quarter. At the moment, the stock has a 52-week-high of $79.08 and a 52-week-low of $50.25. Hexcel closed at $69.18 at the end of the last trading period.

For Alcon Inc ALC, JP Morgan upgraded the previous rating of Neutral to Overweight. Alcon earned $0.69 in the second quarter, compared to $0.63 in the year-ago quarter. At the moment, the stock has a 52-week-high of $86.20 and a 52-week-low of $55.21. Alcon closed at $80.24 at the end of the last trading period.

See all analyst ratings upgrades.

Downgrades

For 22nd Century Group Inc XXII, Alliance Global Partners downgraded the previous rating of Buy to Neutral. For the second quarter, 22nd Century Group had an EPS of $1.40, compared to year-ago quarter EPS of $0.95. The stock has a 52-week-high of $26.32 and a 52-week-low of $2.00. At the end of the last trading period, 22nd Century Group closed at $2.07.

Scotiabank downgraded the previous rating for Crestwood Equity Partners LP CEQP from Sector Outperform to Sector Perform. For the second quarter, Crestwood Equity Partners had an EPS of $1.16, compared to year-ago quarter EPS of $0.14. The current stock performance of Crestwood Equity Partners shows a 52-week-high of $31.43 and a 52-week-low of $22.11. Moreover, at the end of the last trading period, the closing price was at $27.39.

BTIG downgraded the previous rating for Invitation Homes Inc INVH from Buy to Neutral. Invitation Homes earned $0.44 in the second quarter, compared to $0.42 in the year-ago quarter. The stock has a 52-week-high of $40.20 and a 52-week-low of $28.52. At the end of the last trading period, Invitation Homes closed at $34.07.

According to Nomura Instinet, the prior rating for BorgWarner Inc BWA was changed from Buy to Neutral. For the second quarter, BorgWarner had an EPS of $1.35, compared to year-ago quarter EPS of $1.05. At the moment, the stock has a 52-week-high of $51.14 and a 52-week-low of $31.16. BorgWarner closed at $39.85 at the end of the last trading period.

BMO Capital downgraded the previous rating for SL Green Realty Corp SLG from Outperform to Market Perform. In the second quarter, SL Green Realty showed an EPS of $1.43, compared to $1.87 from the year-ago quarter. The stock has a 52-week-high of $51.26 and a 52-week-low of $19.06. At the end of the last trading period, SL Green Realty closed at $32.18.

For Advent Technologies Holdings Inc ADN, Jefferies downgraded the previous rating of Buy to Hold. For the second quarter, Advent Technologies Hldgs had an EPS of $0.23, compared to year-ago quarter EPS of $0.21. The current stock performance of Advent Technologies Hldgs shows a 52-week-high of $4.26 and a 52-week-low of $0.55. Moreover, at the end of the last trading period, the closing price was at $0.62.

Wells Fargo downgraded the previous rating for Crestwood Equity Partners LP CEQP from Overweight to Equal-Weight. For the second quarter, Crestwood Equity Partners had an EPS of $1.16, compared to year-ago quarter EPS of $0.14. The stock has a 52-week-high of $31.43 and a 52-week-low of $22.11. At the end of the last trading period, Crestwood Equity Partners closed at $27.39.

Evercore ISI Group downgraded the previous rating for JBG SMITH Properties JBGS from In-Line to Underperform. JBG SMITH Props earned $0.36 in the second quarter, compared to $0.31 in the year-ago quarter. The current stock performance of JBG SMITH Props shows a 52-week-high of $24.25 and a 52-week-low of $13.37. Moreover, at the end of the last trading period, the closing price was at $14.49.

According to Keybanc, the prior rating for Denbury Inc DEN was changed from Overweight to Sector Weight. Denbury earned $1.06 in the second quarter, compared to $1.69 in the year-ago quarter. The stock has a 52-week-high of $104.05 and a 52-week-low of $73.24. At the end of the last trading period, Denbury closed at $87.50.

See all analyst ratings downgrades.

Initiations

CL King initiated coverage on Outset Medical Inc OM with a Neutral rating. Outset Medical earned $0.69 in the second quarter, compared to $0.77 in the year-ago quarter. At the moment, the stock has a 52-week-high of $30.55 and a 52-week-low of $11.41. Outset Medical closed at $14.79 at the end of the last trading period.

With a Buy rating, Jefferies initiated coverage on BeiGene Ltd BGNE. The price target seems to have been set at $287.00 for BeiGene. For the second quarter, BeiGene had an EPS of $3.64, compared to year-ago quarter EPS of $5.56. The current stock performance of BeiGene shows a 52-week-high of $280.62 and a 52-week-low of $124.55. Moreover, at the end of the last trading period, the closing price was at $192.33.

JP Morgan initiated coverage on AppFolio Inc APPF with an Overweight rating. The price target for AppFolio is set to $200.00. AppFolio earned $0.23 in the second quarter, compared to $0.03 in the year-ago quarter. The current stock performance of AppFolio shows a 52-week-high of $195.90 and a 52-week-low of $93.04. Moreover, at the end of the last trading period, the closing price was at $164.69.

With a Equal-Weight rating, Morgan Stanley initiated coverage on CryoPort Inc CYRX. The price target seems to have been set at $16.00 for CryoPort. In the second quarter, CryoPort showed an EPS of $0.42, compared to $0.23 from the year-ago quarter. The stock has a 52-week-high of $44.41 and a 52-week-low of $12.39. At the end of the last trading period, CryoPort closed at $13.02.

Piper Sandler initiated coverage on First Business Financial Services Inc FBIZ with an Overweight rating. The price target for First Business Finl Servs is set to $37.00. In the second quarter, First Business Finl Servs showed an EPS of $0.98, compared to $1.29 from the year-ago quarter. The stock has a 52-week-high of $39.77 and a 52-week-low of $24.57. At the end of the last trading period, First Business Finl Servs closed at $32.10.

UBS initiated coverage on Landstar System Inc LSTR with a Neutral rating. The price target for Landstar System is set to $209.00. In the second quarter, Landstar System showed an EPS of $1.85, compared to $3.05 from the year-ago quarter. At the moment, the stock has a 52-week-high of $208.62 and a 52-week-low of $137.62. Landstar System closed at $192.47 at the end of the last trading period.

BMO Capital initiated coverage on Metals Acquisition Ltd MTAL with an Outperform rating. The price target for Metals Acquisition is set to $14.00. The stock has a 52-week-high of $13.10 and a 52-week-low of $8.49. At the end of the last trading period, Metals Acquisition closed at $11.25.

With a Sector Perform rating, RBC Capital initiated coverage on Lennox International Inc LII. The price target seems to have been set at $391.00 for Lennox Intl. In the second quarter, Lennox Intl showed an EPS of $6.15, compared to $5.00 from the year-ago quarter. The stock has a 52-week-high of $382.40 and a 52-week-low of $203.82. At the end of the last trading period, Lennox Intl closed at $366.96.

DA Davidson initiated coverage on CommVault Systems Inc CVLT with a Buy rating. The price target for CommVault Systems is set to $85.00. CommVault Systems earned $0.72 in the first quarter, compared to $0.64 in the year-ago quarter. The current stock performance of CommVault Systems shows a 52-week-high of $78.80 and a 52-week-low of $50.42. Moreover, at the end of the last trading period, the closing price was at $68.94.

See all analyst ratings initiations.