US BROKER MOVES: KDP upgraded at Morgan Stanley; MRK downgraded at RBC and UBS

UPGRADES Keurig Dr Pepper (KDP) initiated Overweight w/ USD 38.00 PT at Morgan Stanley Progressive (PGR) upgraded from Market Perform to Outperform w/ USD 250.00 PT at Keefe, Bruyette & Woods Etsy (ETSY) upgraded from Neutral to Buy w/ USD 105.00 PT (prev. USD 88.00) at BofA Securities EPR Properties (EPR) upgraded from Sector Weight to Overweight w/ USD 70.00 PT at KeyBanc Crown Castle (CCI) upgraded from Equalweight to Overweight w/ USD 84.00 PT (prev. USD 92.00) at Barclays American Tower (AMT) upgraded from Equalweight to Overweight w/ USD 198.00 PT (prev. USD 195.00) at Barclays Analog Devices (ADI) upgraded from Neutral to Buy w/ USD 425.00 PT at Seaport Global Securities Ternium (TX) upgraded from Hold to Buy w/ USD 22.00 PT at Deutsche Bank Pony AI (PONY) upgraded from Neutral to Outperform at BNP Paribas Exane DOWNGRADES Western Midstream (WHD) downgraded from Buy to Neutral w/ USD 75.00 PT (prev. USD 67.00) at Citi TJX Companies (TJX) downgraded from Buy to Neutral at Citi TJX Companies (TJX) downgraded from Buy to Accumulate w/ USD 155.00 PT at Gordon Haskett Nvni Group (NVNI) downgraded from Buy to Hold at Maxim Group Merck (MRK) downgraded from Outperform to Sector Perform w/ USD 150.00 PT (prev. USD 142.00) at RBC Capital Merck (MRK) downgraded from Buy to Neutral w/ USD 150.00 PT at UBS Liberty Latin America (LILA) downgraded from Equalweight to Underweight w/ USD 7.00 PT at Morgan Stanley Gerdau (GGB) downgraded from Buy to Neutral w/ USD 5.10 PT at BofA Securities Equinor (EQNR) downgraded from Buy to Neutral w/ USD 46.00 PT at Gerdes Energy Research Coty (COTY) downgraded from Outperform to Sector Perform w/ USD 3.00 PT at RBC Capital Allstate (ALL) downgraded from Market Perform to Underperform w/ USD 250.00 PT at Keefe, Bruyette & Woods INITIATIONS UMB Financial (UMBF) initiated Overweight w/ USD 180.00 PT at JPMorgan Surrozen (SRZN) initiated Outperform at William Blair Sphere Entertainment (SPHR) initiated Overweight w/ USD 185.00 PT at Piper Sandler Quince Therapeutics (QNCX) initiated Buy w/ USD 68.00 PT at Craig-Hallum ProQR Therapeutics (PRQR) initiated Buy w/ USD 8.00 PT at BofA Securities Progyny (PGNY) initiated Overweight w/ USD 37.00 PT at Wells Fargo Madison Square Garden Entertainment (MSGE) initiated Neutral w/ USD 86.00 PT at Piper Sandler Monolithic Power Systems (MPWR) initiated Buy w/ USD 2,013.00 PT at Arete Milestone Pharmaceuticals (MIST) initiated Overweight w/ USD 3.00 PT at Cantor Fitzgerald Lifeway Foods (LWAY) initiated Buy w/ USD 32.00 PT at BTIG Keurig Dr Pepper (KDP) initiated Overweight w/ USD 38.00 PT at Morgan Stanley Incyte (INCY) initiated Buy w/ USD 152.00 PT at Canaccord Freenome (FRNM) initiated Buy w/ USD 21.00 PT at Guggenheim CalciMedica (CALC) initiated Buy w/ USD 9.00 PT at Guggenheim Bitdeer Technologies (BTDR) initiated Overweight w/ USD 15.00 PT at Barclays Ardagh Metal Packaging (AMBP) initiated Hold w/ USD 5.20 PT at Deutsche Bank Alpha Cognition (ACOG) initiated Buy w/ USD 21.00 PT at B. Riley