Top upgrades and downgrades on 5/16

Upgrades

• $Alibaba (BABA.US)$ : JPMorgan Upgrades to Overweight from Underweight - PT $130 (from $75)

• $KE Holdings (BEKE.US)$ : JPMorgan Upgrades to Neutral from Underweight - PT $13.50 (from $7.50)

• $Baidu (BIDU.US)$ : JPMorgan Upgrades to Neutral from Underweight - PT $125 (from $90)

• $Bilibili (BILI.US)$ : JPMorgan Upgrades to Neutral from Underweight - PT $19 (from $15)

• $Baozun (BZUN.US)$ : JPMorgan Upgrades to Neutral from Underweight - PT $8 (from $5)

• $Citizens Financial (CFG.US)$ : UBS Upgrades to Buy from Neutral - PT $54 (from $48)

• $Cigna Group (CI.US)$ : JPMorgan Upgrades to Overweight from Neutral - PT $304 (from $248)

• $Dada Nexus (DADA.US)$ : JPMorgan Upgrades to Overweight from Neutral - PT $10 (from $7.50)

• $Dingdong (DDL.US)$ : JPMorgan Upgrades to Overweight from Underweight - PT $7 (from $2.50)

• $HF Sinclair (DINO.US)$ : Goldman Sachs Upgrades to Buy from Neutral - PT $56 (from $46)

• $Duke Realty Corp (DRE.US)$ : BMO Capital Upgrades to Outperform from Market Perform - PT $65 (from $68)

• $Viant Technology (DSP.US)$ : UBS Upgrades to Buy from Neutral - PT $8 (from $5)

• $Hyatt Hotels (H.US)$ : Berenberg Upgrades to Hold from Sell - PT $85 (from $80)

• $Harpoon Therapeutics (HARP.US)$ : Wedbush Upgrades to Outperform from Neutral - PT $7 (from $5)

• $Interparfums (IPAR.US)$ : Citigroup Upgrades to Buy from Neutral - PT $99

• $iQIYI (IQ.US)$ : JPMorgan Upgrades to Overweight from Underweight - PT $8 (from $2)

• $JD.com (JD.US)$ : JPMorgan Upgrades to Neutral from Underweight - PT $58 (from $40)

• $Netflix (NFLX.US)$ : Wedbush Upgardes to Outperform from Neutral - PT $280

• $NetEase (NTES.US)$ : JPMorgan Upgrades to Overweight from Underweight - PT $120 (from $60)

• $PDD Holdings (PDD.US)$ : JPMorgan Upgrades to Overweight from Underweight - PT $55 (from $27)

• $Rocket (RKT.US)$ : KBW Upgrades to Market Perform from Underperform - PT $7 (from $10)

• $Signify Health (SGFY.US)$ : Baird Upgrades to Outperform from Neutral - PT $16 (from $19)

• $SoFi Technologies (SOFI.US)$ : Piper Sandler Upgrades to Overweight from Neutral - PT $10 (from $12)

• $The Trade Desk (TTD.US)$ : Stifel Upgrades to Buy from Hold - PT $80 (from $50)

• $Valvoline (VVV.US)$ : JPMorgan Upgrades to Overweight from Neutral - PT $36 (from $30)

• $JOYY (YY.US)$ : JPMorgan Upgrades to Neutral from Underweight - PT $40 (from $25)

• $Zhihu (ZH.US)$ : JPMorgan Upgrades to Neutral from Underweight - PT $1.50 (from $1.80)

Downgrades

• $Bandwidth (BAND.US)$ : Baird Downgrades to Neutral from Outperform - PT $25 (from $38)

• $Bionomics (BNOX.US)$ : Evercore ISI Downgrades to In Line from Outperform

• $Dime Community Bancshares Inc (DCOM.US)$ : Stephens Downgrades to Equal Weight from Overweight - PT $34.50 (from $36)

• $FirstEnergy (FE.US)$ : BofA Securities Downgrades to Neutral from Buy - PT $44 (from $52)

• $FIGS Inc (FIGS.US)$ : BofA Securities Downgrades to Neutral from Buy - PT $12 (from $32)

• $Humacyte (HUMA.US)$ : Piper Sandler Downgrades to Underweight from Overweight - PT $4

• $InnovAge Holding (INNV.US)$ : Baird Downgrades to Neutral from Outperform - PT $5 (from $6)

• $Marathon Petroleum (MPC.US)$ : Goldman Sachs Downgrades to Neutral from Buy - PT $102 (from $90)

• $Nielsen (NLSN.US)$ : BMO Capital Downgrades to Market Perform from Outperform - PT $28 (from $34)

• $RingCentral (RNG.US)$ : Baird Downgrades to Neutral from Outperform - PT $80 (from $95)

• $Shift Technologies (SFT.US)$ : Benchmark Downgrades to Hold from Buy

• $Switch (SWCH.US)$ : Credit Suisse Downgrades to Neutral from Outperform - PT $35

• $Twilio (TWLO.US)$ : Baird Downgrades to Neutral from Outperform - PT $120 (from $155)

• $United Parcel Service (UPS.US)$ : JPMorgan Downgrades to Neutral from Overweight - PT $202 (from $229)

Initiated

• $Novocure (NVCR.US)$ : H.C. Wainwright initiates at Buy - PT $115

• $Restoration Hardware (RH.US)$ : Morgan Stanley initiates at Equalweight - PT $400

• $Petco Health and Wellness (WOOF.US)$ : Morgan Stanley initiates at Equalweight - PT $21