Top upgrades and downgrades on 5/11

Upgrades

• $Arcturus Therapeutics (ARCT.US)$ : Baird Upgrades to Neutral from Underperform - PT $18 (from $21)

• $Arrowhead Pharmaceuticals (ARWR.US)$ : Baird Upgrades to Outperform from Neutral - PT $60 (from $71)

• $Cronos Group (CRON.US)$ : CIBC Upgrades to Outperformer from Neutral

• $HF Sinclair (DINO.US)$ : Cowen Upgrades to Outperform from Market Perform - PT $52 (from $38)

• $8x8 (EGHT.US)$ : B. Riley Upgrades to Buy from Neutral - PT $13.50

• $Novanta (NOVT.US)$ : William Blair Upgrades to Outperform from Market Perform

• $Planet Fitness (PLNT.US)$ : JP Morgan Upgrades to Overweight From Neutral - PT $90

• $Peloton Interactive (PTON.US)$ : JMP Securities Upgrades to Market Outperform from Market Perform - PT $25

• $Construction Partners (ROAD.US)$ : Raymond James Upgrades to Strong Buy from Outperform - PT $25

• $Rackspace Technology (RXT.US)$ : Raymond James Upgrades to Outperform from Market Perform - PT $12

• $TriCo Bancshares (TCBK.US)$ : Stephens Upgrades to Overweight from Equal Weight - PT $48 (from $46)

• $Trex Co. (TREX.US)$ : Credit Suisse Upgrades to Neutral from Underperform - PT $65

Downgrades

• $AlerisLife (ALR.US)$ : B.Riley Downgrades to Neutral from Buy - PT $1.50 (from $5)

• $Array Technologies (ARRY.US)$ : Roth Capital Downgrades to Neutral from Buy - PT $7 (from $25)

• $Avaya Holdings (AVYA.US)$ : JPMorgan Downgrades to Underweight from Neutral - PT $7 (from $16)

• $Biohaven (BHVN.US)$ : SVB Leerink Downgrades to Market Perform from Outperform - PT $150

• $Credit Suisse (CS.US)$ : Berenberg Downgrades to Hold from Buy

• $Carvana (CVNA.US)$ : Stifel Downgrades to Hold from Buy - PT $40 (from $115)

• $Diebold Nixdorf (DBD.US)$ : JP Morgan Downgrades to Neutral From Overweight

• $Corning (GLW.US)$ : Barclays Downgrades to Equalweight from Overweight - PT $38 (from $53)

• $Hydrofarm (HYFM.US)$ : UBS Downgrades to Neutral from Buy - PT $8 (from $26)

• $Jounce Therapeutics (JNCE.US)$ : Baird Downgrades to Neutral from Outperform - PT $7 (from $15)

• $Katapult (KPLT.US)$ : Loop Capital Downgrades to Hold from Buy - PT $1 (from $5)

• $loanDepot (LDI.US)$ : Citigroup Downgrades to Sell from Neutral - PT $2 (from $5)

• $Pegasystems (PEGA.US)$ : Truist Securities Downgrades to Hold from Buy - PT $60 (from $110)

• $Rocket (RKT.US)$ : Citigroup Downgrades to Neutral from Buy - PT $8 (from $14)

• $Upstart (UPST.US)$ : BofA Securities Downgrades to Neutral from Buy - PT $41 (from $255)

• $Unity Software (U.US)$ : Daiwa Securities Downgrades to Neutral from Outperform - PT $34 (from $110)

Initiated

• $Affirm Holdings (AFRM.US)$ : JPMorgan initiates at Neutral - PT $30

• $Academy (ASO.US)$ : Truist Securities initiates at Buy - PT $53

• $Bausch + Lomb Corp. (BLCO.US)$ : Cowen initiates at Outperform - PT $35

• $Equity Lifestyle Properties Inc (ELS.US)$ : Truist Securities initiates at Buy - PT $78