U.S. Markets

US BROKER MOVES: CTSH upgraded at Wedbush; ALL downgraded at KBW

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UPGRADES W. R. Berkley (WRB) Upgraded to Buy at Goldman Sachs W. P. Carey (WPC) Upgraded to Outperform at Wolfe Research; PT USD 85 Voya Financial (VOYA) Upgraded to Strong Buy at Raymond James; PT USD 117 Teleflex (TFX) Upgraded to Overweight at Piper Sandler; PT USD 160 (prev. USD 140) MGE Energy (MGEE) Upgraded to Buy at Ladenburg Thalmann; PT USD 81 Kilroy Realty (KRC) Upgraded to Outperform at Evercore ISI Cognizant Technology Solutions (CTSH) Upgraded to Outperform at Wedbush; PT USD 70 (prev. USD 56) Cummins (CMI) Upgraded to Buy at UBS; PT USD 850 (prev. USD 565) Avis Budget Group (CAR) Upgraded to Equalweight at Barclays; PT USD 160 (prev. USD 140) Biogen (BIIB) Upgraded to Buy at Needham; PT USD 255 Brown-Forman (BF.B) Upgraded to Neutral at BofA Securities; PT USD 28 (prev. USD 26.50) DOWNGRADES Ryan Specialty (RYAN) Downgraded to Neutral at Goldman Sachs Blackstone Secured Lending Fund (BXSL) Downgraded to Market Perform at Keefe, Bruyette & Woods; PT USD 24 (prev. USD 25) Allstate (ALL) Downgraded to Market Perform at Keefe, Bruyette & Woods; PT USD 242 (prev. USD 266) ADC Therapeutics (ADCT) Downgraded to Neutral at H.C. Wainwright INITIATIONS Rithm Capital (RITM) Initiated at New Buy at Compass Point; PT USD 14 Ormat Technologies (ORA) Initiated at New Peerperform at Wolfe Research Option Care Health (OPCH) Initiated at New Neutral at Goldman Sachs; PT USD 22 Lantronix (LTRX) Initiated at New Buy at Canaccord; PT USD 10.50 Quaker Chemical (KWR) Initiated at New Buy at Truist Securities; PT USD 172 Kontoor Brands (KTB) Initiated at New Overweight at JPMorgan; PT USD 90 Interactive Brokers (IBKR) Initiated at New Outperform at Wolfe Research; PT USD 101 iBio (IBIO) Initiated at New Outperform at Raymond James; PT USD 5 Devon Energy (DVN) Initiated at New Overweight at JPMorgan; PT USD 62 Climb Bio (CLYM) Initiated at New Buy at Guggenheim; PT USD 35 Cabot Corporation (CBT) Initiated at New Buy at Truist Securities; PT USD 98

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