US BROKER MOVES: SCCO upgraded at Goldman Sachs; Citi downgrades ADSK, DOCU, SMWB, VEEV, seeing a lack of catalysts in next 12 months

UPGRADES KNOT Offshore (KNOP) Upgraded to Buy at Fearnley; PT USD 15 MacroGenics (MGNX) Upgraded to Buy at B Riley; PT USD 9 Madison Square Garden Sports (MSGS) US Upgraded to Buy at Seaport Global Securities; PT USD 430 Meta (META) Upgraded to Strong Buy at CFRA Nexstar Media (NXST) Upgraded to Buy at Citi; PT USD 220 Ryman Hospitality (RHP) Upgraded to Overweight at Morgan Stanley Shake Shack (SHAK) Upgraded to Outperform at Mizuho Securities; PT USD 120 Southern Copper (SCCO) Upgraded to Neutral at Goldman; PT USD 178 DOWNGRADES Autodesk (ADSK) Downgraded to Neutral at Citi; PT USD 246 Axalta (AXTA) Downgraded to Equal-Weight at Wells Fargo; PT USD 30 CCC Intelligent Solutions (CCC) Downgraded to Neutral at Citi; PT USD 6 Docusign (DOCU) Downgraded to Neutral at Citi; PT USD 50 Nike (NKE) Downgraded to Neutral at Piper Sandler; PT USD 50 Nutanix (NTNX) Downgraded to Neutral at JPMorgan; PT USD 44 Roots Corp. (ROOT CN) Downgraded to Hold at TD Cowen; PT CUSD 4.25 ServiceNow (NOW) Downgraded to Neutral at UBS; PT USD 100 Sherwin-Williams (SHW) Downgraded to Equal-Weight at Wells Fargo; PT USD 365 SimilarWeb (SMWB) Downgraded to Neutral at Citi; PT USD 3 Simply Good Foods (SMPL) Downgraded to Equal-Weight at Stephens; PT USD 14 Telus (T CN) Downgraded to Sector Perform at Scotiabank; PT CUSD 21.50 Veeva (VEEV) Downgraded to Neutral at Citi; PT USD 176 INITIATIONS AbCellera Biologics (ABCL) Initiated at New Buy at Jones; PT USD 11 Caris Life Sciences (CAI) Initiated at New Neutral at Piper Sandler; PT USD 21 CBIZ (CBZ) Initiated at New Equal-Weight at Stephens; PT USD 31 Definium Therapeutics In (DFTX) Initiated at New Overweight at Piper Sandler Grail (GRAL) Initiated at New Neutral at Mizuho Securities; PT USD 58 Initiated at New Neutral at Piper Sandler; PT USD 54 Infleqtion (INFQ) Initiated at New Buy at BTIG; PT USD 22 Insmed (INSM) Initiated at New Outperform at Raymond James; PT USD 200 Lyell Immunopharma (LYEL) Initiated at New Strong Buy at Needham; PT USD 44 Macom (MTSI) Initiated at New Buy at Loop Capital Mechanics Bancorp (MCHB) Initiated at New Overweight at Cantor; PT USD 17 Milestone Pharmaceuticals (MIST) Initiated at New Strong Buy at Raymond James Nakamoto (NAKA) Initiated at New Buy at TD Cowen; PT USD 1 Praxis Precision (PRAX) Initiated at New Strong Buy at Raymond James; PT USD 815 ProPetro (PUMP) Reinstated Neutral at Goldman; PT USD 15 PTC Therapeutics (PTCT) Reinstated Outperform at Raymond James; PT USD 108 Rapport Therapeutics (RAPP) Initiated at New Strong Buy at Raymond James Sharplink (SBET) Initiated at New Buy at TD Cowen Skillz (SKLZ) Initiated at New Overweight at Cantor Strive (ASST) Initiated at New Buy at TD Cowen; PT USD 26 United Therapeutics (UTHR) Initiated at New Outperform at Raymond James UroGen Pharma (URGN) Reinstated Buy at Jefferies; PT USD 40 Whitefiber (WYFI) Initiated at New Buy at BTIG; PT USD 20