Upgrades, Downgrades and New Research Coverage

Avatar photo Chris Versace on October 15, 2026

Upgrades:

ArcelorMittal ($MT) upgraded to Overweight from Neutral at JPMorgan

Array Technologies ($ARRY) upgraded to Outperform from Neutral at Mizuho, Target: $5

Bank of America ($BAC) upgraded to Outperform from Neutral at Baird, Target: $62

BorgWarner ($BWA) upgraded to Buy from Neutral at BofA, Target: $85

Brighthouse Financial ($BHF) upgraded to Neutral from Underweight at JPMorgan, Target: $55

CarMax ($KMX) upgraded to Buy from Underperform at BofA, Target: $65

Casey’s General Stores ($CASY) upgraded to Outperform from Sector Perform at RBC Capital, Target: $825

Cemex ($CX) upgraded to Buy from Neutral at Citi, Target: $12

Crocs ($CROX) upgraded to Overweight from Equal Weight at Barclays, Target: $139

Fortrea ($FTRE) upgraded to Buy from Hold at Deutsche Bank, Target: $25

Lithium Americas ($LAC) upgraded to Speculative Buy from Hold at Canaccord

Quantinuum ($QNT) upgraded to Overweight from Equal Weight at Morgan Stanley, Target: $62

Scotts Miracle-Gro ($SMG) upgraded to Buy from Neutral at UBS, Target: $70

Walmart ($WMT) upgraded to Buy from Hold at Deutsche Bank, Target: $136

Zions Bancorp ($ZION) upgraded to Outperform from Neutral at Baird, Target: $75

Downgrades:

Albertsons ($ACI) downgraded to Neutral from Overweight at JPMorgan, Target: $14

Albertsons ($ACI) downgraded to Neutral from Buy at Goldman Sachs, Target: $13

Align Technology ($ALGN) downgraded to Neutral from Outperform at Baird, Target: $162

Cirrus Logic ($CRUS) downgraded to Sector Weight from Overweight at KeyBanc

Dauch ($DCH) downgraded to Underperform from Buy at BofA, Target: $5

Envista ($NVST) downgraded to Neutral from Outperform at Baird, Target: $26

Par Pacific ($PARR) downgraded to Neutral from Buy at Goldman Sachs, Target: $94

Spotify ($SPOT) downgraded to Hold from Buy at StoneX

ZTO Express ($ZTO) downgraded to Neutral from Buy at Goldman Sachs, Target: $22

New research coverage

AngloGold Ashanti ($AU) initiated with a Buy at Goldman Sachs, Target: $104

Antero Resources ($AR) initiated with a Sector Outperform at Scotiabank, Target: $46

APA Corp. ($APA) initiated with a Sector Perform at Scotiabank, Target: $44

Black Hills ($BKH) initiated with a Buy at Jefferies, Target: $87

Bright Minds Biosciences ($DRUG) initiated with an Outperform at Wolfe Research, Target: $150

CAMP4 Therapeutics ($CAMP) initiated with a Buy at Needham, Target: $8

Chord Energy ($CHRD) initiated with a Sector Outperform at Scotiabank, Target: $192

CNX Resources (CNX) initiated with a Sector Perform at Scotiabank, Target: $34

Crescent Energy ($CRGY) initiated with a Sector Outperform at Scotiabank, Target: $18

CRISPR Therapeutics ($CRSP) initiated with a Neutral at UBS, Target: $52

Devon Energy ($DVN) initiated with a Sector Outperform at Scotiabank, Target: $61

Diamondback Energy ($FANG) initiated with a Sector Outperform at Scotiabank, Target: $250

Digital Turbine ($APPS) resumed with a Buy at Roth Capital, Target: $19

Eloxx Pharmaceuticals ($ELOX) initiated with an Overweight at Cantor Fitzgerald

EOG Resources ($EOG) initiated with a Sector Perform at Scotiabank, Target: $144

EQT Corporation ($EQT) initiated with a Sector Perform at Scotiabank, Target: $54

Establishment Labs ($ESTA) initiated with a Buy at Stifel, Target: $85

Fidelity National Information Services ($FIS) resumed with a Buy at BofA, Target: $42

First Financial Bankshares ($FFIN) initiated with a Market Perform at Raymond James

Fiserv ($FISV) resumed with an Underperform at BofA, Target: $48

Global Payments ($GPN) resumed with a Buy at BofA, Target: $114

Gold Fields ($GFI) initiated with a Neutral at Goldman Sachs, Target: $38

Gulfport Energy ($GPOR) initiated with a Sector Outperform at Scotiabank, Target: $217

HawkEye 360 ($HAWK) initiated with an Overweight at Piper Sandler, Target: $22

Hemab Therapeutics ($COAG) initiated with an Overweight at JPMorgan, Target: $70

Infinity Natural Resources ($INR) initiated with a Sector Outperform at Scotiabank, Target: $17

Magnolia Oil & Gas ($MGY) initiated with a Sector Outperform at Scotiabank, Target: $31

Matador Resources ($MTDR) initiated with a Sector Perform at Scotiabank, Target: $59

MGE Energy ($MGEE) initiated with a Neutral at JPMorgan, Target: $76

Murphy Oil ($MUR) initiated with a Sector Perform at Scotiabank, Target: $41

Netflix ($NFLX) assumed with a Buy at Jefferies, Target: $85

Northern Oil and Gas ($NOG) initiated with a Sector Perform at Scotiabank, Target: $27

onsemi ($ON) initiated with a Buy at StoneX, Target: $110

Ovid Therapeutics ($OVID) initiated with an Outperform at Wolfe Research, Target: $5

Permian Resources ($PR) initiated with a Sector Outperform at Scotiabank, Target: $29

Rapport Therapeutics ($RAPP) initiated with an Outperform at Wolfe Research, Target: $50

Rapport Therapeutics ($RAPP) initiated with a Buy at UBS, Target: $71

Redwire ($RDW) initiated with a Neutral at Piper Sandler, Target: $11

Shift4 Payments ($FOUR) resumed with a Neutral at BofA, Target: $42

Sight Sciences ($SGHT) initiated with a Buy at H.C. Wainwright, Target: $14

SM Energy ($SM) initiated with a Sector Perform at Scotiabank, Target: $39

Solid Biosciences ($SLDB) initiated with a Buy at UBS, Target: $20

Spectrum Brands ($SPB) resumed with a Buy at UBS, Target: $97

Suja Life ($SUJA) initiated with a Hold at Needham

Ultragenyx ($RARE) initiated with a Neutral at UBS, Target: $16

Vail Resorts ($MTN) initiated with a Market Perform at Citizens

Versant Media ($VSNT) initiated with an Equal Weight at Morgan Stanley, Target: $38

Viking Therapeutics ($VKTX) initiated with a Buy at UBS, Target: $94

Viper Energy ($VNOM) initiated with a Sector Outperform at Scotiabank, Target: $54

Warner Music Group ($WMG) initiated with a Buy at StoneX

Wave Life Sciences ($WVE) initiated with a Buy at UBS, Target: $11

York Space Systems ($YSS) initiated with a Neutral at Piper Sandler, Target: $9

Position: TheStreet Pro Portfolio is long BAC, NFLX 

That’s a Wrap!

Avatar photo Stephen Guilfoyle on June 4, 2026

What a day! What a rally. Could have been a heck of a lot worse.

Markets opened on weakness Thursday, after a bloody day for stocks on Wednesday. Oil sold off, which was nice. That left some room for equities to rally ahead of Friday’s BLS labor market survey results for the month of May.

Thursday morning was defined by a sharp rotation out of tech. The Nasdaq Composite opened sharply lower before closing just below the unchanged mark. The S&P 500 added 0.4% for the day.

Health Care led the markets for the day, as providers and pharmaceuticals led health care. Humana ($HUM) and UnitedHealth ($UNH) gained 6.8% and 5.5% respectively. On the flipside, the semiconductors took a pounding as Broadcom ($AVGO) and Micron ($MU) surrendered 12.5% and 7.2% in that order. Nine of the 11 S&P sector SPDR ETFs closed the regular session in the green.

Quantum computing firm Quantinuum ($QNT) finally opened trading at $68 per share on the Nasdaq after its initial public offering. The company raised $1.68 billion after pricing the shares at $60 a piece.

The BLS is set to release its Jobs numbers for May tomorrow at 08:30. Consensus view is for growth of 105K non-farm positions. These results are expected to impact the outcome of the June FOMC meeting.

Have a good night, gang. It’s always a pleasure to pitch in relief of the ace of our staff, Dougie Kass. May you have a pleasant evening, and may God hold and protect those you love.

Sarge

Position: Long MU equity