Benzinga's Top Ratings Upgrades, Downgrades For May 18, 2023

Author: Benzinga Insights | May 18, 2023 11:00am

Upgrades

According to CIBC, the prior rating for BlackBerry Ltd (NYSE:BB) was changed from Underperformer to Neutral. In the fourth quarter, BlackBerry showed an EPS of $0.02, compared to $0.01 from the year-ago quarter. The stock has a 52-week-high of $7.20 and a 52-week-low of $3.17. At the end of the last trading period, BlackBerry closed at $5.38.

Evercore ISI Group upgraded the previous rating for Teva Pharmaceutical Industries Ltd (NYSE:TEVA) from In-Line to Outperform. In the first quarter, Teva Pharmaceutical Indus showed an EPS of $0.40, compared to $0.55 from the year-ago quarter. The current stock performance of Teva Pharmaceutical Indus shows a 52-week-high of $11.45 and a 52-week-low of $6.78. Moreover, at the end of the last trading period, the closing price was at $8.13.

According to B of A Securities, the prior rating for Cincinnati Financial Corp (NASDAQ:CINF) was changed from Neutral to Buy. Cincinnati Financial earned $0.89 in the first quarter, compared to $1.58 in the year-ago quarter. The current stock performance of Cincinnati Financial shows a 52-week-high of $130.66 and a 52-week-low of $88.67. Moreover, at the end of the last trading period, the closing price was at $102.69.

According to UBS, the prior rating for Albemarle Corp (NYSE:ALB) was changed from Neutral to Buy. For the first quarter, Albemarle had an EPS of $10.32, compared to year-ago quarter EPS of $2.38. At the moment, the stock has a 52-week-high of $334.20 and a 52-week-low of $171.82. Albemarle closed at $207.99 at the end of the last trading period.

BTIG upgraded the previous rating for Dynatrace Inc (NYSE:DT) from Neutral to Buy. Dynatrace earned $0.31 in the fourth quarter, compared to $0.17 in the year-ago quarter. The stock has a 52-week-high of $48.00 and a 52-week-low of $31.55. At the end of the last trading period, Dynatrace closed at $47.07.

According to Mizuho, the prior rating for WEC Energy Group Inc (NYSE:WEC) was changed from Neutral to Buy. WEC Energy Group earned $1.61 in the first quarter, compared to $1.79 in the year-ago quarter. At the moment, the stock has a 52-week-high of $108.39 and a 52-week-low of $80.91. WEC Energy Group closed at $89.27 at the end of the last trading period.

For Rambus Inc (NASDAQ:RMBS), Jefferies upgraded the previous rating of Hold to Buy. Rambus earned $0.03 in the first quarter, compared to $0.01 in the year-ago quarter. At the moment, the stock has a 52-week-high of $54.23 and a 52-week-low of $20.00. Rambus closed at $53.55 at the end of the last trading period.

According to Citigroup, the prior rating for Tencent Music Entertainment Group (NYSE:TME) was changed from Neutral to Buy. Tencent Music Enter Gr earned $0.13 in the first quarter, compared to $0.09 in the year-ago quarter. The stock has a 52-week-high of $9.29 and a 52-week-low of $3.15. At the end of the last trading period, Tencent Music Enter Gr closed at $8.31.

Roth Capital upgraded the previous rating for Snap-on Inc (NYSE:SNA) from Neutral to Buy. Snap-on earned $4.60 in the first quarter, compared to $4.00 in the year-ago quarter. The stock has a 52-week-high of $265.02 and a 52-week-low of $190.37. At the end of the last trading period, Snap-on closed at $257.53.

According to National Bank Financial Inc, the prior rating for Ritchie Bros Auctioneers Inc (NYSE:RBA) was changed from Sector Perform to Outperform. In the first quarter, Ritchie Bros Auctioneers showed an EPS of $0.57, compared to $0.46 from the year-ago quarter. At the moment, the stock has a 52-week-high of $72.68 and a 52-week-low of $48.75. Ritchie Bros Auctioneers closed at $51.85 at the end of the last trading period.

See all analyst ratings upgrades.

Downgrades

For XP Inc (NASDAQ:XP), Banco Bradesco BBI S.A downgraded the previous rating of Outperform to Neutral. XP earned $0.28 in the first quarter, compared to $0.28 in the year-ago quarter. At the moment, the stock has a 52-week-high of $25.18 and a 52-week-low of $10.30. XP closed at $16.73 at the end of the last trading period.

OTR Global downgraded the previous rating for Nutanix Inc (NASDAQ:NTNX) from Positive to Mixed. The stock has a 52-week-high of $33.72 and a 52-week-low of $13.44. At the end of the last trading period, Nutanix closed at $26.27.

For Essential Utilities Inc (NYSE:WTRG), Northcoast Research downgraded the previous rating of Buy to Neutral. Essential Utilities earned $0.72 in the first quarter, compared to $0.76 in the year-ago quarter. At the moment, the stock has a 52-week-high of $52.44 and a 52-week-low of $38.51. Essential Utilities closed at $41.06 at the end of the last trading period.

According to B of A Securities, the prior rating for Selective Insurance Group Inc (NASDAQ:SIGI) was changed from Neutral to Underperform. Selective Insurance Gr earned $1.44 in the first quarter, compared to $1.41 in the year-ago quarter. The stock has a 52-week-high of $104.37 and a 52-week-low of $72.40. At the end of the last trading period, Selective Insurance Gr closed at $101.94.

B of A Securities downgraded the previous rating for The Hanover Insurance Group Inc (NYSE:THG) from Buy to Neutral. For the first quarter, Hanover Insurance Gr had an EPS of $0.13, compared to year-ago quarter EPS of $3.26. The stock has a 52-week-high of $149.42 and a 52-week-low of $115.26. At the end of the last trading period, Hanover Insurance Gr closed at $120.19.

According to Truist Securities, the prior rating for Procter & Gamble Co (NYSE:PG) was changed from Buy to Hold. In the third quarter, Procter & Gamble showed an EPS of $1.37, compared to $1.33 from the year-ago quarter. The current stock performance of Procter & Gamble shows a 52-week-high of $158.11 and a 52-week-low of $122.19. Moreover, at the end of the last trading period, the closing price was at $155.08.

Morgan Stanley downgraded the previous rating for Futu Holdings Ltd (NASDAQ:FUTU) from Equal-Weight to Underweight. For the fourth quarter, Futu Hldgs had an EPS of $0.92, compared to year-ago quarter EPS of $0.45. The current stock performance of Futu Hldgs shows a 52-week-high of $72.20 and a 52-week-low of $28.01. Moreover, at the end of the last trading period, the closing price was at $41.42.

According to Jefferies, the prior rating for Amyris Inc (NASDAQ:AMRS) was changed from Buy to Hold. In the first quarter, Amyris showed an EPS of $0.34, compared to $0.37 from the year-ago quarter. At the moment, the stock has a 52-week-high of $4.86 and a 52-week-low of $0.55. Amyris closed at $0.66 at the end of the last trading period.

According to Stifel, the prior rating for Magellan Midstream Partners LP (NYSE:MMP) was changed from Buy to Hold. Magellan Midstream earned $1.32 in the first quarter, compared to $1.10 in the year-ago quarter. The stock has a 52-week-high of $64.42 and a 52-week-low of $44.84. At the end of the last trading period, Magellan Midstream closed at $62.02.

Stifel downgraded the previous rating for NeoGames SA (NASDAQ:NGMS) from Buy to Hold. For the first quarter, NeoGames had an EPS of $0.20, compared to year-ago quarter EPS of $0.03. The current stock performance of NeoGames shows a 52-week-high of $27.50 and a 52-week-low of $10.85. Moreover, at the end of the last trading period, the closing price was at $27.32.

According to Citigroup, the prior rating for Nu Holdings Ltd (NYSE:NU) was changed from Buy to Neutral. Nu Holdings earned $0.04 in the first quarter, compared to $0.01 in the year-ago quarter. The current stock performance of Nu Holdings shows a 52-week-high of $6.92 and a 52-week-low of $3.27. Moreover, at the end of the last trading period, the closing price was at $6.18.

Raymond James downgraded the previous rating for Intercept Pharmaceuticals Inc (NASDAQ:ICPT) from Outperform to Market Perform. Intercept Pharma earned $0.77 in the first quarter, compared to $0.58 in the year-ago quarter. The stock has a 52-week-high of $21.86 and a 52-week-low of $10.82. At the end of the last trading period, Intercept Pharma closed at $13.83.

See all analyst ratings downgrades.

Initiations

Cantor Fitzgerald initiated coverage on Acumen Pharmaceuticals Inc (NASDAQ:ABOS) with an Overweight rating. The price target for Acumen Pharmaceuticals is set to $13.00. In the first quarter, Acumen Pharmaceuticals showed an EPS of $0.28, compared to $0.23 from the year-ago quarter. The stock has a 52-week-high of $10.95 and a 52-week-low of $3.17. At the end of the last trading period, Acumen Pharmaceuticals closed at $5.45.

Jefferies initiated coverage on Wolfspeed Inc (NYSE:WOLF) with a Hold rating. The price target for Wolfspeed is set to $46.00. Wolfspeed earned $0.13 in the third quarter, compared to $0.12 in the year-ago quarter. The current stock performance of Wolfspeed shows a 52-week-high of $125.40 and a 52-week-low of $39.02. Moreover, at the end of the last trading period, the closing price was at $42.02.

For Tarsus Pharmaceuticals Inc (NASDAQ:TARS), Guggenheim initiated coverage, by setting the current rating at Buy. In the first quarter, Tarsus Pharmaceuticals showed an EPS of $0.88, compared to $0.98 from the year-ago quarter. The stock has a 52-week-high of $19.52 and a 52-week-low of $11.33. At the end of the last trading period, Tarsus Pharmaceuticals closed at $15.93.

Truist Securities initiated coverage on Arcellx Inc (NASDAQ:ACLX) with a Buy rating. The price target for Arcellx is set to $60.00. In the first quarter, Arcellx showed an EPS of $0.58, compared to $1.59 from the year-ago quarter. The current stock performance of Arcellx shows a 52-week-high of $48.91 and a 52-week-low of $6.14. Moreover, at the end of the last trading period, the closing price was at $41.24.

Seaport Global initiated coverage on Array Technologies Inc (NASDAQ:ARRY) with a Buy rating. The price target for Array Technologies is set to $30.00. For the first quarter, Array Technologies had an EPS of $0.25, compared to year-ago quarter EPS of $0.02. The stock has a 52-week-high of $24.59 and a 52-week-low of $7.03. At the end of the last trading period, Array Technologies closed at $22.68.

For Lantern Pharma Inc (NASDAQ:LTRN), HC Wainwright & Co. initiated coverage, by setting the current rating at Neutral. At the moment, the stock has a 52-week-high of $6.57 and a 52-week-low of $4.05. Lantern Pharma closed at $4.90 at the end of the last trading period.

BTIG initiated coverage on Coya Therapeutics Inc (NASDAQ:COYA) with a Buy rating. The price target for Coya Therapeutics is set to $15.00. In the first quarter, Coya Therapeutics showed an EPS of $0.28, compared to $0.66 from the year-ago quarter. The stock has a 52-week-high of $8.00 and a 52-week-low of $3.69. At the end of the last trading period, Coya Therapeutics closed at $5.76.

With a Buy rating, Canaccord Genuity initiated coverage on Pliant Therapeutics Inc (NASDAQ:PLRX). The price target seems to have been set at $48.00 for Pliant Therapeutics. In the first quarter, Pliant Therapeutics showed an EPS of $0.67, compared to $0.78 from the year-ago quarter. The current stock performance of Pliant Therapeutics shows a 52-week-high of $36.64 and a 52-week-low of $4.69. Moreover, at the end of the last trading period, the closing price was at $21.53.

With a Neutral rating, JP Morgan initiated coverage on PLAYSTUDIOS Inc (NASDAQ:MYPS). The price target seems to have been set at $5.00 for PLAYSTUDIOS. PLAYSTUDIOS earned $0.02 in the first quarter, compared to $0.20 in the year-ago quarter. The current stock performance of PLAYSTUDIOS shows a 52-week-high of $6.59 and a 52-week-low of $3.25. Moreover, at the end of the last trading period, the closing price was at $4.43.

With a Hold rating, Brookline Capital initiated coverage on Genelux Corp (NASDAQ:GNLX). The price target seems to have been set at $25.00 for Genelux. At the moment, the stock has a 52-week-high of $39.27 and a 52-week-low of $5.35. Genelux closed at $24.70 at the end of the last trading period.

With a Buy rating, DA Davidson initiated coverage on Varonis Systems Inc (NASDAQ:VRNS). The price target seems to have been set at $30.00 for Varonis Systems. In the first quarter, Varonis Systems showed an EPS of $0.00, compared to $0.09 from the year-ago quarter. The current stock performance of Varonis Systems shows a 52-week-high of $35.35 and a 52-week-low of $15.61. Moreover, at the end of the last trading period, the closing price was at $24.01.

With a Sector Perform rating, Scotiabank initiated coverage on Braze Inc (NASDAQ:BRZE). The price target seems to have been set at $34.00 for Braze. In the fourth quarter, Braze showed an EPS of $0.14, compared to $0.18 from the year-ago quarter. The current stock performance of Braze shows a 52-week-high of $50.96 and a 52-week-low of $22.62. Moreover, at the end of the last trading period, the closing price was at $30.53.

See all analyst ratings initiations.

Posted In: ABOS ACLX ALB AMRS ARRY BB BRZE CINF COYA DT FUTU GNLX ICPT LTRN MMP MYPS NGMS NTNX NU PG