US Top Rating Updates on 11/17: TGT, EL, ICE, IQV and More

Piper Sandler analyst Edward Yruma upgraded $Target (TGT.US)$ to Overweight from Neutral with a price target of $200, up from $190. The company has had a difficult 2022, but we are approaching "trough" EBIT margins and the stock's valuation now "looks compelling," Yruma tells investors in a research note.

Canaccord analyst Susan Anderson last night initiated coverage of $Estee Lauder (EL.US)$ with a Hold rating and $228 price target. The company is seeing weakness in the travel retail channel and slower growth due to continued lockdowns, and it is uncertain when this will ease, Anderson tells investors in a research note.

Citi analyst Patrick Donnelly downgraded $IQVIA Holdings (IQV.US)$ to Neutral from Buy with a price target of $245, down from $275. The analyst cites valuation for the downgrade. Following the stock's significant move higher, Iqvia now trades at a premium to comps despite potential fiscal 2023 headwinds to margins and earnings, Donnelly tells investors in a research note.