US BROKER MOVES: JOYY upgraded at JPM; GAP downgraded at Jefferies

UPGRADES Grupo Aval Acciones y Valores (AVAL) Upgraded to Neutral from Underweight at JPMorgan; PT USD 5.50 Entegris (ENTG) Upgraded to Buy from Hold at Deutsche Bank; PT USD 200 (prev USD 152) Hilton Worldwide Holdings (HLT) Upgraded to Buy from Hold at Deutsche Bank; PT USD 365 (prev USD 363) IDEX Corporation (IEX) Upgraded to Outperform from Neutral at Mizuho; PT USD 280 (prev USD 210) Intuitive Surgical (ISRG) Upgraded to Outperform from Perform at Oppenheimer; PT USD 500 JOYY (JOYY) Upgraded to Overweight from Neutral at JPMorgan; PT USD 98 (prev USD 35) Merck & Co. (MRK) Upgraded to Outperform from Neutral at Daiwa Securities; PT USD 143 (prev USD 120) Okta (OKTA) Upgraded to Market Outperform from Market Perform at Citizens; PT USD 170 Summit Therapeutics (SMMT) Upgraded to Market Perform from Underperform at Leerink; PT USD 13 DOWNGRADES Amerant Bancorp (AMTB) Downgraded to Equal Weight from Overweight at Stephens Apogee Therapeutics (APGE) Downgraded to Neutral from Buy at BTIG Atai Life Sciences (ATAI) Downgraded to Hold from Buy at Deutsche Bank; PT USD 8 (prev USD 12) Cardiff Oncology (CRDF) Downgraded to Market Perform from Outperform at William Blair Gap (GAP) Downgraded to Hold from Buy at Jefferies; PT USD 23 (prev USD 29) MarineMax (HZO) Downgraded to Hold from Buy at Truist Securities MarineMax (HZO) Downgraded to Neutral from Buy at Northcoast Legend Biotech (LEGN) Downgraded to Perform from Outperform at Oppenheimer; PT USD 40 (prev USD 75) Novo Nordisk (NVO) Downgraded to Hold from Buy at Berenberg; PT USD 47 (prev USD 50) On Holding (ONON) Downgraded to Outperform from Strong Buy at Raymond James; PT USD 38 (prev USD 52) Tencent Music Entertainment (TME) Downgraded to Hold from Buy at China Merchants Securities Tencent Music Entertainment (TME) Downgraded to Hold from Buy at China Renaissance; PT USD 9.30 Tigo Energy (TYGO) Downgraded to Neutral from Buy at Roth WSFS Financial (WSFS) Downgraded to Equal Weight from Overweight at Stephens INITIATIONS Flutter Entertainment (FLUT) Initiated Neutral at JPMorgan; PT USD 114 JSPR Initiated Overweight at Piper Sandler; PT USD 2 LightPath Technologies (LPTH) Initiated Overweight at Piper Sandler; PT USD 15 Mercury Systems (MRCY) Initiated Overweight at Piper Sandler; PT USD 126 QMLS Initiated Buy at Chardan; PT USD 24.50 Unusual Machines (UMAC) Initiated Overweight at Piper Sandler; PT USD 38