US Top Rating Updates on 10/25: NFLX, UPS, FDX, ANET and More

Jefferies analyst Stephanie Moore initiated coverage of $United Parcel Service (UPS.US)$ with a Buy rating and $190 price target as part of a broader research note on North American Transportation & Logistics. The analyst has a "cautious view" on the industry given her belief that T&L is at the end of a robust freight cycle, which should see slower consumption trends over the next 12 months.

Jefferies analyst Stephanie Moore initiated coverage of $FedEx (FDX.US)$ with a Hold rating and $170 price target. The stock's valuation is well below its historical average, but after missing fiscal Q1 earnings by 30%, guiding Q2 earnings 50% below expectations, and pulling fiscal 2023 guidance after just one quarter "there needs to be significant changes," Moore tells investors in a research note.

Credit Suisse analyst Sami Badri downgraded $Arista Networks (ANET.US)$ to Neutral from Outperform with a price target of $110, down from $185. The analyst believes the company will struggle to meet revenue growth expectations in 2023.