US Top Rating Updates on 11/8: SQ, LYFT, ASML, SE and More

Macquarie analyst Paul Golding upgraded $Block (SQ.US)$ to Outperform from Neutral with a $100 price target. The shares have fallen 20% since the analyst's downgrade to Neutral in late July, a time he saw market risk and risk to consensus EBITDA as potential pitfalls in the coming periods.

Evercore ISI analyst Mark Mahaney downgraded $Lyft Inc (LYFT.US)$ to In Line from Outperform with a price target of $18, down from $41. The analyst says the "weak growth" in Lyft's Q3 active riders is "very concerning" as is its acknowledged market share loss to $Uber Technologies (UBER.US)$.

Morgan Stanley analyst Lee Simpson initiated coverage of $ASML Holding (ASML.US)$ with an Overweight rating and EUR 650 price target. ASML is more a defensive play within the cyclical semiconductor industry, Simpson tells investors in a research note. He says ASML is a high-quality semi-cap equipment name that dominates the lithography system supply to chipmakers worldwide.