American Analyst Ratings for January 4th 2024

STA Research
January 4th, 2024
Barrick Gold Corp: Dealmaker Ian Hannam is suing Randgold Resources for up to $18 million, claiming he is owed compensation for his work on the 2018 acquisition by Barrick Gold. The lawsuit centers on an agreement where Hannam's advisory boutique, Hannam & Partners, was promised a minimum of $10 million for facilitating the deal. Hannam asked for $18 million after the $18 billion acquisition but was rebuffed. Bank of Montreal: CIBC raised its target price for Bank of Montreal to C$150 from C$134, citing declining credit losses, accelerating loan growth, and stronger capital markets earnings. Boeing Co: The Federal Aviation Administration (FAA) noted Boeing has not resumed 737 MAX production post-machinists' strike, but expects to restart later this month. The FAA is focused on workforce training and supply chain stabilization. BP Plc: BP is seeking buyers for up to a 49% stake in its U.S. natural gas pipeline network, potentially raising up to $3 billion. This sale is part of CEO Murray Auchincloss's strategy to reduce debt levels. Canadian Imperial Bank of Commerce: Jefferies raised its target price for CIBC to C$104 from C$103 after the bank's fourth-quarter profit exceeded analysts' expectations. Chevron Corp & Hess Corp: Chevron announced up to $1.5 billion in charges for restructuring, asset impairments, and property sales costs in Q4, including severance pay for job cuts and relocations. Chevron also plans to cut 2025 project spending by $2 billion. Citigroup Inc: Citigroup promoted 344 executives globally to managing director roles, one of the largest cohorts in the firm's history. Separately, Citi Handlowy in Poland approved a new strategy to achieve a return on equity exceeding 15% by 2027. Cooper Companies Inc: Cooper Companies forecast annual revenue below Wall Street expectations due to softer demand for contact lenses, sending shares lower after reporting quarterly revenue of $1.02 billion (slightly below estimates). DoorDash Inc: RBC raised its target price for DoorDash to $215 from $175, citing the company’s focus on balancing growth and profitability, alongside potential M&A activities. Hewlett Packard Enterprise Co: Hewlett Packard Enterprise exceeded Wall Street expectations for Q4, reporting strong demand for servers used in AI applications. The company's Q4 revenue was $8.46 billion, surpassing estimates. HSBC: HSBC announced the promotion of Lisa McGeough as the new CEO for the U.S. operations starting next year. Lululemon Athletica Inc: Lululemon raised its full-year revenue forecast, driven by strong demand in the U.S. and international markets. JPMorgan increased its target price for Lululemon to $425 from $338 after the company posted solid third-quarter growth. Lockheed Martin Corp: The U.S. Air Force deferred decisions related to the Next Generation Air Dominance (NGAD) fighter jet program, affecting Lockheed Martin, Boeing, and Northrop Grumman, which are competing for the contract. Northrop Grumman Corp: Similar to Lockheed Martin, Northrop Grumman is impacted by the U.S. Air Force’s delay of the NGAD fighter jet program, with contracts extended to allow more time for design updates. Shift4 Payments Inc: CEO Jared Isaacman, a private astronaut and close ally of SpaceX, is playing a central role in the burgeoning commercial space industry, which aims to usher in an era of spacefaring civilization. Stellantis: Stellantis signed an agreement with Zeta Energy to develop cost-effective lithium-sulfur batteries for electric vehicles by 2030. Teva Pharmaceutical Industries Ltd: Teva announced it will transfer ownership of its Japanese generics business to JKI, with the divestiture expected to be completed by April 1, 2025. Toronto-Dominion Bank: CIBC lowered its target price for Toronto-Dominion Bank to C$90 from C$93, following the bank's warning of a challenging 2025 and the suspension of its medium-term earnings forecast. UnitedHealth Group Inc: The search for a masked assailant who killed a UnitedHealth executive in Manhattan continues. Meanwhile, Oppenheimer raised its target price for UnitedHealth to $640 from $610, citing its strong growth profile. Ulta Beauty Inc: Ulta Beauty raised its annual profit forecast, signaling stronger demand for perfumes and makeup during the holiday season. The company also slightly increased its annual sales forecast. JPMorgan raised its target price for Ulta to $480 from $472. VSE Corp: RBC raised its target price for VSE Corp to $135 from $125 after the company completed the acquisition of Kellstrom Aerospace. Volkswagen: Volkswagen workers will go on extended strikes in response to a dispute over layoffs and factory closures, marking the first such closures in Germany for the automaker. WEC Energy Group Inc: WEC Energy issued higher earnings estimates for 2025 and announced a 6.9% dividend increase, with projected earnings per share of $5.17 to $5.27. Zeta Energy: Zeta Energy partnered with Stellantis to develop affordable lithium-sulfur batteries for electric vehicles, aiming for commercialization by 2030.
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US Stock Ratings

Name

Symbol

Analyst

Action

Rating

Closing Price

Target Price
Apple Inc AAPL
Piper Jaffray Companies
 Downgrades Neutral 184.25 205
Albertsons Companies
 ACI
Telsey Advisory Group
 Reiterated by Market Perform – Market Perform 22.71 27.25
Agree Realty Corporation
 ADC RBC Target Raised by Outperform – Outperform 62.52 67
Akoustis Technologies Inc
 AKTS
Piper Jaffray Companies
 Downgrades Neutral 0.763 1
Alkami Technology Inc
 ALKT Barclays Target Raised by Equal Weight – Equal Weight 22.79 26
Alarm.com Holdings Inc
 ALRM Barclays Target Raised by Equal Weight – Equal Weight 61.15 66
Advanced Micro Devices Inc
 AMD
KeyBanc Capital Markets
 Maintains Overweight 135.32 170
AN2 Therapeutics Inc
 ANTX JMP Securities Initiates Coverage On Market Outperform 18.61 30
Armstrong World Industries Inc
 AWI UBS Upgraded by Sell – Neutral 95.45 103
Bath & Body Works Inc.
 BBWI Barclays Downgrades Equal-Weight 43.59 45
BJs Wholesale Club Holdings Inc
 BJ
Wells Fargo & Company
 Reiterated by Overweight – Equal Weight 65.57 70
Bausch + Lomb Corp
 BLCO Evercore ISI Downgraded by Outperform – In-Line 16.39 17
Topbuild Corp BLD Truist Financial Downgraded by Buy – Hold 355.33 410
Builders FirstSource Inc
 BLDR Truist Financial Downgraded by Buy – Hold 159.31 185
BlackRock Inc BLK TD Cowen Initiates Coverage On Market Perform 784.15 819
Bridge Investment Group Holdings Inc
 BRDG TD Cowen Initiated by Outperform 9.11 11
Beyond Inc. BYON Barclays Target Raised by Equal Weight – Equal Weight 25.36 24
Carlyle Group Inc
 CG TD Cowen Initiated by Market Perform 39.07 42
Cigna Corp CI
Sanford C. Bernstein & Co.
 Upgraded by Market Perform – Outperform 303.66 372
Colliers International Group Inc Bats
 CIGI
National Bank Financial
 Downgrades Sector Perform 115.86 125
Clarus Corp CLAR
Jefferies & Company
 Reiterated by Buy – Hold 6.12 7
Comerica Inc CMA
Goldman Sachs & Co.
 Upgraded by Neutral – Buy 54.68 70.5
CME Group Inc CME
Rosenblatt Securities
 Reiterated by Sell – Sell 201.41 180
Chipotle Mexican Grill Inc
 CMG BTIG Reiterated Buy 2233.6499 2650
Chipotle Mexican Grill Inc
 CMG Stifel Nicolaus Target Raised by Buy – Buy 2233.6499 2450
CMS Energy Corporation
 CMS
KeyBanc Capital Markets
 Maintains Overweight 59.29 65
Canadian National Railway Co
 CNI Stephens Target Raised by Equal Weight 125.06 135
CNO Financial Group Inc
 CNO Evercore ISI Downgraded by In-Line – Underperform 27.3 26
CenterPoint Energy Inc
 CNP
KeyBanc Capital Markets
 Target Raised by Overweight – Overweight 29.13 31
Capital One Financial Corporation
 COF
J.P. Morgan Chase & Co
 Reiterated by Overweight – Neutral 130.72 131
Collegium Pharmaceutical Inc
 COLL
Jefferies & Company
 Reiterated by Buy – Hold 33.86 37
Collegium Pharmaceutical Inc
 COLL
Needham & Company
 Target Raised by Buy – Buy 33.86 40
Dollar General Corporation
 DG Barclays Upgraded by Equal Weight – Overweight 131.28 154
Domino’s Pizza Inc
 DPZ Stifel Nicolaus Target Raised by Buy – Buy 400.46 470
DTE Energy Company
 DTE
KeyBanc Capital Markets
 Maintains Overweight 110.98 117
Duke Energy Corporation
 DUK
KeyBanc Capital Markets
 Target Raised by Overweight – Overweight 98.78 107
Dyne Therapeutics Inc
 DYN
Raymond James
 Maintains Strong Buy 14.77 56
Brinker International Inc
 EAT Stifel Nicolaus Target Raised by Buy – Buy 41.05 50
Electrovaya Inc. Common Shares
 ELVA
Craig Hallum Capital Group
 Target Lowered by Buy – Buy 3.3 10
Emerson Electric Company
 EMR
Mizuho Securities
 Upgraded by Neutral – Buy 94.68 118
EPAM Systems Inc
 EPAM Wolfe Research Upgraded by Peer Perform – Outperform 282.66 355
EPAM Systems Inc
 EPAM
Piper Jaffray Companies
 Maintains Overweight 282.66 339
Edwards Lifesciences Corp
 EW Evercore ISI Downgraded by Outperform – In-Line 73.13 77
Freeport-McMoran Copper & Gold Inc
 FCX
Raymond James
 Target Raised by Outperform – Outperform 41.37 43
FirstEnergy Corporation
 FE
KeyBanc Capital Markets
 Target Raised by Overweight – Overweight 37.76 43
Ferguson Plc FERG
Wells Fargo & Company
 Upgrade Equal Weight – Overweight 184.06 210
Federated Investors Inc B
 FHI TD Cowen Initiated by Market Perform 33.61 32
Five Below Inc FIVE
Wells Fargo & Company
 Downgraded by Overweight – Equal Weight 204.69 215
Fluence Energy Inc
 FLNC
Bank of America Merrill Lynch
 Target Raised by Buy – Buy 22.48 28
FMC Corporation
 FMC Roth MKM Initiates Coverage On Buy 61.19 74
Floor & Decor Holdings Inc
 FND Barclays Target Raised by Underweight – Underweight 102.92 75
Floor & Decor Holdings Inc
 FND
Wells Fargo & Company
 Downgraded by Overweight – Equal Weight 102.92 105
Fortrea Holdings Inc.
 FTRE
Jefferies & Company
 Initiated by Buy 33.3 44
Futu Holdings Ltd
 FUTU
Morgan Stanley & Co.
 Upgraded by Underweight – Equal Weight 52.15 50
First Watch Restaurant Group Inc
 FWRG Stifel Nicolaus Downgrades Hold 19.21 20
GCM Grosvenor Inc
 GCMG TD Cowen Initiated by Market Perform 8.52 9.5
Guess? Inc GES
Jefferies & Company
 Reiterated by Buy – Hold 23.24 24
Chart Industries Inc
 GTLS
Raymond James
 Upgraded by Outperform – Strong-Buy 131.62 190
HCA Holdings Inc
 HCA
Sanford C. Bernstein & Co.
 Downgrade Outperform – Mkt Perform 272.08 301
Hudson Pacific Properties Inc
 HPP Scotia Capital Maintains Sector Perform 9.19 6
Hudson Pacific Properties Inc
 HPP
BMO Capital Markets
 Target Raised by Outperform – Outperform 9.19 13
Installed Building Products Inc
 IBP Truist Financial Downgraded by Buy – Hold 174.58 200
International Game Technology PLC
 IGT
Jefferies & Company
 Reiterated by Buy – Hold 26.1 29
InMode Ltd INMD Barclays Target Lowered by Overweight – Overweight 21 33
Inovio Pharmaceuticals Inc
 INO JMP Securities Initiates Coverage On Market Outperform 0.52 1
IQVIA Holdings Inc
 IQV Truist Financial Target Raised by Buy – Buy 220.01 286
Invesco Plc IVZ TD Cowen Initiated by Outperform 17.27 21
Janus Henderson Group PLC
 JHG TD Cowen Initiated by Market Perform 29.19 30
KKR & Co LP KKR TD Cowen Initiated by Outperform 79.89 96
Keros Therapeutics Inc
 KROS
Wedbush Securities
 Reiterated by Outperform 41.26 86
Lowe’s Companies Inc
 LOW Barclays Target Raised by Equal Weight – Equal Weight 212.27 229
LPL Financial Holdings Inc
 LPLA TD Cowen Initiated by Market Perform 232.73 224
Lululemon Athletica Inc.
 LULU
Piper Jaffray Companies
 Target Up Overweight 498.02 560
Mattel Inc MAT Roth MKM Downgrades Neutral 18.34 20
McDonald’s Corporation
 MCD Stifel Nicolaus Target Raised by Hold – Hold 294.39 322
Microchip Technology Inc
 MCHP
Piper Jaffray Companies
 Downgrades Neutral 84.57 80
MongoDB MDB UBS Downgrades Neutral 372.98 410
Mesa Laboratories Inc
 MLAB Evercore ISI Upgraded by In-Line – Outperform 97.13 125
MannKind Corp MNKD H.C. Wainwright Reiterated by Buy – Buy 3.7 7.5
Callaway Golf Company
 MODG
Raymond James
 Target Raised by Outperform – Outperform 13.35 16
Merck & Company Inc
 MRK TD Cowen Upgraded by Market Perform – Outperform 114.77 135
MACOM Technology Solutions Holdings Inc
 MTSI
Piper Jaffray Companies
 Downgrades Neutral 85.72 85
Micron Technology Inc
 MU
Piper Jaffray Companies
 Upgrades Overweight 82.26 95
Murphy USA Inc MUSA
Jefferies & Company
 Upgraded by Hold – Buy 362.31 425
nVent Electric PLC
 NVT RBC Maintains Outperform 56.08 65
OneMain Holdings Inc
 OMF
Wells Fargo & Company
 Target Raised by Equal Weight – Equal Weight 48.28 48
Omega Therapeutics Inc
 OMGA
Wedbush Securities
 Reiterated by Outperform – Outperform 2.73 12
O’Reilly Automotive Inc
 ORLY Barclays Target Raised by Equal Weight – Equal Weight 943.71 986
Blue Owl Capital Inc
 OWL TD Cowen Initiated by Outperform 14.66 17
Pfizer Inc PFE TD Cowen Downgrades Market Perform 29.73 32
Principal Financial Group Inc
 PFG Evercore ISI Upgraded by Underperform – Inline 78.67 83
PulteGroup Inc PHM UBS Downgraded by Buy – Neutral 100.47 120
Profound Medical Corp
 PROF
Alliance Global Partners
 Target Lowered by Buy – Buy 7.68 12.75
Qorvo Inc QRVO
Piper Jaffray Companies
 Downgrades Neutral 105.69 120
Restaurant Brands International Inc
 QSR Stifel Nicolaus Target Raised by Hold 76.4 80
Raymond James Financial Inc.
 RJF TD Cowen Initiated by Market Perform 109.46 121
Rocket Companies Inc
 RKT
J.P. Morgan Chase & Co
 Reiterated by Neutral – Underweight 13.34 10.5
Roper Technologies Inc. Common Stock
 ROP RBC Maintains Outperform 531 620
Revolve Group LLC
 RVLV
Robert W. Baird & Co.
 Reiterated by Outperform – Neutral 15.88 17
Revolve Group LLC
 RVLV
Jefferies & Company
 Reiterated by Buy – Hold 15.88 17
Revolution Medicines Inc
 RVMD
Wedbush Securities
 Initiated by Outperform 27.99 41
Revvity Inc. RVTY Evercore ISI Upgraded by In-Line – Outperform 105.02 125
Safehold Inc SAFE
Jefferies & Company
 Initiated by Buy 23.02 33
Stifel Financial Corporation
 SF TD Cowen Initiated by Outperform 68 83
Sprouts Farmers Market LLC
 SFM Evercore ISI Upgraded by Underperform – Inline 47.86 45
Shopify Inc SHOP
CIBC World Markets
 Maintains Hold 71.82 60
Silicon Motion Technology
 SIMO
J.P. Morgan Chase & Co
 Upgraded by Neutral – Overweight 59.45 77
Simulations Plus Inc
 SLP
Craig Hallum Capital Group
 Target Raised by Buy – Buy 43.18 51
Schneider National Inc
 SNDR Evercore ISI Downgraded by Outperform – Inline 24.51 25
State Street Corp
 STT
Bank of America Merrill Lynch
 Reiterated by Neutral – Underperform 77.3 81
Skyworks Solutions Inc
 SWKS
Piper Jaffray Companies
 Downgrades Neutral 105.21 90
Truist Financial Corp
 TFC
Bank of America Merrill Lynch
 Upgraded by Neutral – Buy 36.51 43
TPG Inc TPG TD Cowen Initiated by Market Perform 39.74 38
T. Rowe Price Group Inc
 TROW TD Cowen Initiated by Underperform 106.29 88
Tyler Technologies Inc
 TYL JMP Securities Reinstates Market Outperform 406.9 490
Unifirst Corporation
 UNF
Robert W. Baird & Co.
 Reiterated by Outperform – Neutral 167.88 185
United Natural Foods Inc
 UNFI
Wells Fargo & Company
 Reiterated by Equal Weight – Underweight 16.44 15
Virtus Investment Partners Inc
 VRTS TD Cowen Initiated by Outperform 229.11 289
Verizon Communications Inc
 VZ Wolfe Research Upgrades Outperform 39.16 46
Wayfair Inc W Barclays Target Lowered by Equal Weight – Equal Weight 55.04 60
WESCO International Inc
 WCC RBC Target Raised by Outperform – Outperform 168.62 203
Workday Inc WDAY
KeyBanc Capital Markets
 Assumes Overweight 268.41 310
WEC Energy Group Inc
 WEC
Bank of America Merrill Lynch
 Reiterated by Neutral – Underperform 86.61 78
WEC Energy Group Inc
 WEC
KeyBanc Capital Markets
 Target Raised by Overweight – Overweight 86.61 95
Xcel Energy Inc XEL
KeyBanc Capital Markets
 Target Raised by Overweight – Overweight 63.58 68
Xenon Pharmaceuticals Inc
 XENE Citigroup Initiates Coverage On Buy 44.19 62
XORTX Therapeutics Inc
 XRTX
Alliance Global Partners
 Maintains Buy 2.49 14
Xylem Inc XYL RBC Target Raised by Outperform – Outperform 111.56 140
YETI Holdings Inc
 YETI
Canaccord Genuity
 Downgraded by Buy – Hold 47.14 50
Yum! Brands Inc YUM Stifel Nicolaus Reiterated by Buy – Hold 129.1 135
Yum China Holdings Inc
 YUMC
J.P. Morgan Chase & Co
 Reiterated by Overweight – Neutral 42.95 38
Zimmer Biomet Holdings Inc
 ZBH Evercore ISI Downgraded by Outperform – Inline 120.47 125
ZimVie Inc ZIMV Barclays Target Raised by Underweight – Underweight 17.11 13
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AVG Analyst Rating STA Analysis
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MDA:CA
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NVDA
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