Upgrades, Downgrades, and Initiations

Avatar photo Chris Versace on September 10, 2026

Upgrades:

Block (XYZ) upgraded to Buy from Hold at StoneX, tgt $105

Casey’s General Stores (CASY) upgraded to Outperform from Market Perform at Raymond James, tgt $750

DT Midstream (DTM) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $170

Herc Holdings (HRI) upgraded to Overweight from Neutral at JPMorgan, tgt $175

Kymera Therapeutics (KYMR) upgraded to Outperform from Peer Perform at Wolfe Research, tgt $180

Meta Platforms (META) upgraded to Overweight from Neutral at JPMorgan, tgt $820

Novartis (NVS) upgraded to Hold from Reduce at HSBC 

Orchestra BioMed (OBIO) upgraded to Buy from Neutral at BTIG, tgt $10

PACCAR (PCAR) upgraded to Outperform from Sector Perform at RBC Capital, tgt $150

Simmons First National (SFNC) upgraded to Outperform from Market Perform at Keefe, Bruyette & Woods, tgt $26

Synopsys (SNPS) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $475

Yum! Brands (YUM) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $175

Downgrades:

AngloGold Ashanti (AU) downgraded to Market Perform from Outperform at BMO Capital, tgt $115

BioCryst Pharmaceuticals (BCRX) downgraded to Sector Perform from Outperform at RBC Capital, tgt $11

Bowhead Specialty (BOW) downgraded to Market Perform from Outperform at Citizens 

Chewy (CHWY) downgraded to In Line from Outperform at Evercore ISI, tgt $25

Cooper Companies (COO) downgraded to Neutral from Buy at BofA, tgt $65

Cooper Companies (COO) downgraded to Neutral from Outperform at Robert W. Baird, tgt $61

Cooper Companies (COO) downgraded to Neutral from Overweight at Piper Sandler, tgt $59

Uber (UBER) downgraded to Neutral from Buy at Arete, tgt $74

United Rentals (URI) downgraded to Neutral from Overweight at JPMorgan, tgt $1,170

Others:

908 Devices (MASS) initiated with a Buy at Canaccord, tgt $13.50

Adagene (ADAG) initiated with a Buy at Chardan, tgt $9

Adlai Nortye (ANL) initiated with a Buy at Jefferies, tg

Aehr Test Systems (AEHR) initiated with an Outperform at Oppenheimer, tgt $120

Amer Sports (AS) initiated with a Buy at BTIG, tgt $42

Amer Sports (AS) resumed with an Equal Weight at Morgan Stanley, tgt $31

AMD (AMD) initiated with an Overweight at Piper Sandler, tgt $600

Antero Resources (AR) resumed with a Hold at Stifel, tgt $42

APA Corp. (APA) initiated with a Buy at Stifel, tgt $62

Arm Holdings (ARM) initiated with an Overweight at Piper Sandler, tgt $320

Broadcom (AVGO) initiated with an Overweight at Piper Sandler, tgt $460

California Resources (CRC) resumed with a Buy at Stifel, tgt $68

CareTrust REIT (CTRE) initiated with an Outperform at Huntington, tgt $44

Chiron Real Estate (XRN) initiated with a Market Perform at Huntington, tgt $37

Chord Energy (CHRD) resumed with a Buy at Stifel, tgt $182

Clean Harbors (CLH) initiated with an Outperform at William Blair 

Coinbase (COIN) initiated with an Equal Weight at Morgan Stanley, tgt $250

Diamondback Energy (FANG) resumed with a Buy at Stifel, tgt $259

Devon Energy (DVN) resumed with a Buy at Stifel, tgt $61

Driven Brands (DRVN) resumed with an Underperform at BofA, tgt $12

Energy Transfer (ET) resumed with a Buy at Stifel, tgt $25

EOG Resources (EOG) resumed with a Hold at Stifel, tgt $158

Enterprise Products (EPD) resumed with a Hold at Stifel, tgt $40

FatPipe (FATN) initiated with a Buy at Roth Capital, tgt $8

FedEx Freight (FDXF) initiated with a Market Perform at Bernstein, tgt $133

Fervo Energy (FRVO) initiated with an Outperform at Northland, tgt $27

Gulfport Energy (GPOR) initiated with a Hold at Stifel, tgt $193

Intel (INTC) initiated with a Neutral at Piper Sandler, tgt $110

Janus Living (JAN) initiated with an Outperform at Huntington, tgt $36

Kinder Morgan (KMI) resumed with a Hold at Stifel, tgt $35

Knight-Swift (KNX) initiated with an Outperform at Bernstein, tgt $91

LTC Properties (LTC) initiated with an Outperform at Huntington, tgt $47

Mach Natural Resources (MNR) resumed with a Buy at Stifel, tgt $15

Marvell Technology (MRVL) initiated with an Overweight at Piper Sandler, tgt $270

MPLX (MPLX) resumed with a Hold at Stifel, tgt $65

National Health Investors (NHI) initiated with an Outperform at Huntington, tgt $79

Nebius Group (NBIS) initiated with a Buy at Truist, tgt $355

Nike (NKE) resumed with an Underweight at Morgan Stanley, tgt $31

NVIDIA (NVDA) initiated with an Overweight at Piper Sandler, tgt $300

Old Dominion (ODFL) initiated with a Market Perform at Bernstein, tgt $200

ONEOK (OKE) resumed with a Hold at Stifel, tgt $105

On Holding (ONON) resumed with an Overweight at Morgan Stanley, tgt $39

Ovintiv (OVV) initiated with a Buy at Stifel, tgt $92

Permian Resources (PR) resumed with a Buy at Stifel, tgt $30

Qualcomm (QCOM) initiated with a Neutral at Piper Sandler, tgt $190

Range Resources (RRC) resumed with a Hold at Stifel, tgt $46

RELX (RELX) initiated with a Buy at TD Cowen 

Revolution Medicines (RVMD) initiated with an Overweight at Morgan Stanley, tgt $255

Sabra Healthcare REIT (SBRA) initiated with an Outperform at Huntington, tgt $23

Saia (SAIA) initiated with an Outperform at Bernstein, tgt $439

SK Hynix (SKHY) initiated with an Overweight at JPMorgan, tgt $245

StepStone Group (STEP) initiated with an Outperform at RBC Capital, tgt $65

Strawberry Fields REIT (STRW) initiated with a Market Perform at Huntington, tgt $15

Targa Resources (TRGP) resumed with a Buy at Stifel, tgt $340

TXO Partners (TXO) resumed with a Buy at Stifel, tgt $17

Under Armour (UAA) resumed with an Equal Weight at Morgan Stanley, tgt $4

Western Midstream Partners (WES) resumed with a Buy at Stifel, tgt $55

WhiteHawk Minerals (WHK) resumed with a Buy at Stifel, tgt $32

Williams Companies (WMB) resumed with a Buy at Stifel, tgt $85

XPO (XPO) initiated with an Outperform at Bernstein, tgt $244

Positions: TheStreet Pro Portfolio is long AVGO, META, MRVL, NVDA, PCAR, and URI.

JPMorgan Upgrades Meta and Raises Price Target

Avatar photo Chris Versace on September 10, 2026

JPMorgan upgraded Meta Platforms ($META) to overweight from neutral, citing upside potential following the social media giant’s launch of its AI assistant. The firm also boosted its META price target to $820 from $640.

“Meta is in the early stages of releasing frontier models and AI-driven products beyond advertising, notably Muse AI agent and Meta Model API access,” analyst Douglas Anmuth said, according to reports. PT was set to $820, implying a 25% increase from last close.

“Frontier models are at the core of Meta’s (META) product and monetization pipeline over a multi-year period, and its path toward superintelligence.”

“Muse is built around security and privacy—an advantage for Meta—which we believe could be a key hurdle for other agents to gain trust and navigate more challenging tasks involving passwords, credit cards, and other personal information.”

Position: TheStreet Pro Portfolio is long META

JetBlue Raises Guidance

Avatar photo Chris Versace on September 10, 2026

JetBlue Airways ($JBLU) raised Q3 RASM growth guidance to 17-20% yr/yr from 12.5-16.5%, citing “strong travel demand, constructive pricing and targeted commercial actions; early Q4 booking trends remain encouraging.”

Position: None

Taiwan Semi’s August Revenue Soars

Avatar photo Chris Versace on September 10, 2026

Taiwan Semiconductor Manufacturing ($TSM) reported August consolidated revenue of NT$514.81 billion, up 53.3%, year over year, from NT$335.77 billion.

August revenue increased 10.1% sequentially from NT$467.58 billion in July.

Here’s the thing, that 53.3% August revenue growth is a reacceleration from the 44.7% year-over-year figure posted in July. 

That follows the record August revenue reported a few days ago by Foxconn of ~$29.14 billion, up 52% year over year. 

Our read-through on those data points are positive for the Portfolio’s chip holdings and support the view that chip capacity is poised to remain tight for some time, a strong positive for our position in Applied Materials ($AMAT). 

Position: TheStreet Pro Portfolio is long AMAT shares. 

ECB Policy Decision Also on Tap

Avatar photo Chris Versace on September 10, 2026

In my opening comments, we shared what the market is expecting from today’s August PPI report. 

Fifteen minutes before we get that 8:30 AM ET report, the European Central Bank will make its latest policy decision. The consensus is it will deliver a 25 basis point rate hike, but what is said during the subsequent press conference about inflation and where monetary policy could go from here will be of greater interest. 

Position: None

I’m Back in the ‘Sandbox.’ Let’s Get Ready for PPI.

Avatar photo Chris Versace on September 10, 2026

Here we go my friends! Once again I have the privilege of playing in Doug Kass’s sandbox for the day, and boy oh boy we will have a lot to chew through together. 

Normally about now, I’m reviewing and compiling what will potentially go into the day’s “8 Key Things Shaping the Stock Market” but I’m going to hold that until after we get this morning’s August PPI report. 

The consensus for that report has headline PPI rising 5.3% year over year, up from 4.7% in July. Core PPI is also expected to step up to 4.6% from July’s 4.2%.

But… 

When we look at where oil, diesel, gas and other prices have moved to since the end of August and signs the Iran war is heating back up, we can see the argument about looking past the August PPI and tomorrow’s CPI data to focus on what the September data looks like. 

And while we tend to steer away from getting political, preferring to focus on policy and outcomes, we also have the fact that President Trump commented that “Right after the election, oil prices are going to be tumbling downward.”

Thinking that comment through, it means that, best case, oil and related prices are likely to be elevated not only in September and October. And there are reasons to think even that best-case scenario is questionable. 

It would be swell to have gas prices come tumbling down, but we’ve also heard the war with Iran was won and over more than a few times, and yet here we are. 

When it comes to TheStreet Pro Portfolio, we’ll continue to follow the data and let it inform us, rather than making the herd-like mistake of superimposing what we want it to say, course correcting as needed. 

That’s the Portfolio, but this is the Daily Diary, and we’ll have a lot more coming your way today.

Go get that first, second or if you’re like me, third cup of your preferred go juice (coffee here!), and I’ll have more for you in a jiffy. 

Position: None