Opening Bell Analysts Research Calls for Thursday, January 5

This report was sent to Briefing.com subscribers earlier today.

Research calls posted earlier this morning are available here.

Upgrades:

> Power & Utilities (AQN) upgraded to Overweight from Equal Weight at Wells Fargo

> Atlassian (TEAM) upgraded to Buy from Hold at Jefferies; tgt $150

> Bread Financial (BFH) upgraded to Overweight from Equal-Weight at Stephens; tgt $64

> Cboe Global Markets (CBOE) upgraded to Outperform from Neutral at Credit Suisse; tgt lowered to $144

> Charter Comm (CHTR) upgraded to Buy from Hold at Truist; tgt raised to $550

> Check Point Software (CHKP) upgraded to Buy from Hold at Jefferies; tgt raised to $150

> CME Group (CME) upgraded to Outperform from Neutral at Credit Suisse; tgt $191

> Comcast (CMCSA) upgraded to Buy from Hold at Truist; tgt $50

> Delta Air Lines (DAL) upgraded to Buy from Hold at Argus; tgt $39

> DocuSign (DOCU) upgraded to Buy from Hold at Jefferies; tgt raised to $70

> First Republic Bank (FRC) upgraded to Buy from Neutral at Goldman; tgt $142

> FirstCash (FCFS) upgraded to Overweight from Equal-Weight at Stephens

> HSBC Holdings (HSBC) upgraded to Buy from Hold at Jefferies

> Oracle (ORCL) upgraded to Buy from Hold at Jefferies; tgt raised to $105

> Silgan Holdings (SLGN) upgraded to Buy from Hold at Truist; tgt $64

> US Foods (USFD) upgraded to Overweight from Equal Weight at Barclays; tgt raised to $43

> Zimmer Biomet (ZBH) upgraded to Outperform from Mkt Perform at Raymond James; tgt $144

Downgrades:

> Allbirds (BIRD) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $4

> Ally Financial (ALLY) downgraded to Underperform from Buy at BofA Securities; tgt lowered to $26

> American Express (AXP) downgraded to Underweight from Equal-Weight at Stephens; tgt $134

> American States Water (AWR) downgraded to Neutral from Buy at Seaport Research Partners

> Armstrong World Industries (AWI) downgraded to Hold from Buy at Loop Capital; tgt $75

> AZEK (AZEK) downgraded to Neutral from Buy at UBS; tgt $24

> Baxter (BAX) downgraded to Mkt Perform from Outperform at Raymond James

> Berry Global (BERY) downgraded to Hold from Buy at Truist; tgt $70

> Business First Bancshares (BFST) downgraded to Mkt Perform from Outperform at Raymond James

> C.H. Robinson (CHRW) downgraded to Market Perform from Outperform at Cowen; tgt lowered to $91

> Cano Health (CANO) downgraded to Peer Perform from Outperform at Wolfe Research

> Capital One (COF) downgraded to Underweight from Equal-Weight at Stephens; tgt $79

> CarMax (KMX) downgraded to Hold from Buy at Argus

> Cognizant Tech (CTSH) downgraded to Underperform from Peer Perform at Wolfe Research; tgt $49

> Coinbase Global (COIN) downgraded to Market Perform from Outperform at Cowen; tgt $36

> CrossFirst Bankshares (CFB) downgraded to Mkt Perform from Outperform at Raymond James

> CrowdStrike (CRWD) downgraded to Hold from Buy at Jefferies; tgt lowered to $120

> Danaher (DHR) downgraded to Neutral from Outperform at Credit Suisse; tgt lowered to $300

> Delek US Holdings (DK) downgraded to Underweight from Overweight at Wells Fargo; tgt lowered to $24

> Dorian LPG (LPG) downgraded to Neutral from Buy at UBS; tgt $19

> Dropbox (DBX) downgraded to Hold from Buy at Jefferies; tgt $25

> EPAM Systems (EPAM) downgraded to Peer Perform from Outperform at Wolfe Research

> Essent Group (ESNT) downgraded to Neutral from Buy at Goldman; tgt $44

> Euronet (EEFT) downgraded to Underperform from Peer Perform at Wolfe Research; tgt $98

> Five9 (FIVN) downgraded to Hold from Buy at Jefferies; tgt $65

> Gap (GPS) downgraded to Sell from Neutral at UBS; tgt $7

> IAA (IAA) downgraded to Neutral from Outperform at Robert W. Baird; tgt lowered to $44

> Maravai Life Sciences (MRVI) downgraded to Neutral from Buy at UBS; tgt lowered to $16

> Nomad Foods (NOMD) downgraded to Neutral from Outperform at Credit Suisse; tgt lowered to $20

> Nordstrom (JWN) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $20

> Palantir Technologies (PLTR) downgraded to Hold from Buy at Jefferies; tgt lowered to $7.50

> Progyny (PGNY) downgraded to Mkt Perform from Outperform at SVB Leerink; tgt $34

> Revolve Group (RVLV) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $28

> Sealed Air (SEE) downgraded to Hold from Buy at Truist; tgt $59

> Shopify (SHOP) downgraded to Hold from Buy at Jefferies

> SJW (SJW) downgraded to Neutral from Buy at Seaport Research Partners

> Tapestry (TPR) downgraded to Mkt Perform from Outperform at Bernstein

> Varonis Systems (VRNS) downgraded to Hold from Buy at Jefferies; tgt $26

> Verint Systems (VRNT) downgraded to Hold from Buy at Jefferies; tgt lowered to $40

> Veritex Holdings (VBTX) downgraded to Mkt Perform from Outperform at Raymond James

> Vertex (VERX) downgraded to Hold from Buy at Jefferies; tgt $15

> Victoria’s Secret (VSCO) downgraded to Sell from Neutral at UBS

> Wendy’s (WEN) downgraded to Perform from Outperform at Oppenheimer

> Wolverine (WWW) downgraded to Neutral from Overweight at Piper Sandler; tgt lowered to $13

> Y-mAbs Therapeutics (YMAB) downgraded to Market Perform from Outperform at Cowen

> Zurich Insurance Group (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas

Others:

> AppLovin (APP) initiated with a Sell at The Benchmark Company; tgt $7

> AstraZeneca (AZN) initiated with an Outperform at BMO Capital Markets; tgt $82

> Axsome Therapeutics (AXSM) initiated with a Neutral at Piper Sandler; tgt $75

> Bridge Investment Group (BRDG) initiated with an Overweight at Piper Sandler

> Castle Biosciences (CSTL) initiated with a Sector Outperform at Scotiabank; tgt $54

> Etsy (ETSY) initiated with a Peer Perform at Wolfe Research

> Foghorn Therapeutics (FHTX) initiated with an Outperform at BMO Capital Markets; tgt $20

> Forge Global Holdings (FRGE) initiated with a Neutral at JP Morgan

> Genenta S.p.A. (GNTA) initiated with a Buy at EF Hutton; tgt $15

> Guardant Health (GH) initiated with a Sector Outperform at Scotiabank; tgt $36

> HashiCorp (HCP) added as 2023 Top Pick at Oppenheimer

> Illumina (ILMN) initiated with a Sector Perform at Scotiabank; tgt $216

> Karuna Therapeutics (KRTX) initiated with an Overweight at Piper Sandler; tgt $285

> Microsoft (MSFT) initiated with a Buy at DA Davidson; tgt $270

> Nano-X Imaging (NNOX) initiated with an Overweight at Cantor Fitzgerald; tgt $21

> Olink Holding (OLK) initiated with a Sector Outperform at Scotiabank; tgt $27

> R1 RCM (RCM) initiated with a Buy at Canaccord Genuity; tgt $14

> Squarespace (SQSP) initiated with a Peer Perform at Wolfe Research

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