US BROKER MOVES: CIEN upgraded at Evercore; INVH & AMH upgraded at Mizuho

UPGRADES Veeco Instruments (VECO) upgraded from Market Perform to Outperform at Northland; PT USD 66.00 AT&T (T) upgraded from Neutral to Outperform at BNP Paribas Exane Macerich (MAC) upgraded from In Line to Outperform at Evercore ISI; PT USD 26.00 Invitation Homes (INVH) upgraded from Neutral to Outperform at Mizuho; PT USD 32.00 (prev. USD 31.00) Ciena (CIEN) upgraded from In Line to Outperform at Evercore ISI; PT USD 550.00 Candel Therapeutics (CADL) upgraded from Neutral to Buy at BofA Securities; PT USD 18.00 (prev. USD 12.00) Arhaus (ARHS) upgraded from Hold to Buy at Jefferies; PT USD 10.00 (prev. USD 9.50) American Homes 4 Rent (AMH) upgraded from Neutral to Outperform at Mizuho; PT USD 36.00 (prev. USD 35.00) DOWNGRADES Universal Technical Institute (UTI) downgraded from Buy to Hold at Texas Capital Securities; PT USD 25.00 (prev. USD 48.00) Vail Resorts (MTN) downgraded from Outperform to Neutral at BNP Paribas Exane Flutter Entertainment (FLUT) downgraded from Buy to Neutral at Rothschild Redburn; PT USD 119.00 (prev. USD 169.00) Equity LifeStyle Properties (ELS) downgraded from Outperform to Neutral at Mizuho; PT USD 65.00 (prev. USD 72.00) Compañía Cervecerías Unidas (CCU) downgraded from Buy to Reduce at HSBC; PT USD 10.00 (prev. USD 15.00) INITIATIONS Chiron Real Estate (XRN) initiated Overweight at Cantor Fitzgerald TeraWulf (WULF) initiated Neutral at Rothschild Redburn; PT USD 15.00 Vertex Pharmaceuticals (VRTX) initiated Outperform at Leerink; PT USD 594.00 Tempus AI (TEM) initiated Neutral at Goldman Sachs; PT USD 75.00 Securitize (SECZ) initiated Overweight at Cantor Fitzgerald Palvella Therapeutics (PVLA) initiated Buy at Chardan; PT USD 240.00 Oddity Tech (ODD) initiated Neutral at JPMorgan; PT USD 18.00 NexGen Energy (NXE) initiated Overweight at JPMorgan; PT USD 14.00 NANO Nuclear Energy (NNE) initiated Buy at Needham; PT USD 33.00 Nebius Group (NBIS) initiated Sell at Rothschild Redburn; PT USD 84.00 Iron Mountain (IRM) initiated Buy at Rothschild Redburn; PT USD 132.00 IREN (IREN) initiated Neutral at Rothschild Redburn; PT USD 40.00 IQM Quantum Computers (IQMX) initiated Buy at BTIG; PT USD 20.00 Immunome (IMNM) initiated Buy at Alliance Global Partners; PT USD 32.00 Hut 8 (HUT) initiated Neutral at Rothschild Redburn; PT USD 96.00 Equinix (EQIX) initiated Buy at Rothschild Redburn; PT USD 1,261.00 Digital Realty Trust (DLR) initiated Buy at Rothschild Redburn; PT USD 227.00 Cyabra (CYAB) initiated Buy at ThinkEquity; PT USD 1.00 CoreWeave (CRWV) initiated Sell at Rothschild Redburn; PT USD 54.00 Core Scientific (CORZ) initiated Neutral at Rothschild Redburn; PT USD 16.00 Cipher Mining (CIFR) initiated Neutral at Rothschild Redburn; PT USD 18.00 Applied Digital (APLD) initiated Neutral at Rothschild Redburn; PT USD 22.00 Arteris (AIP) initiated Buy at Craig-Hallum; PT USD 30.00