US Top Rating Updates on 1/11: CRM, ORCL, XPEV, BX and More

Bernstein analyst Mark Moerdler downgraded $Salesforce(CRM.US)$ to Underperform from Market Perform with a price target of $119, down from $134. The analyst notes that Salesforce has been a controversial name for the last year as growth slowed and the company started to focus on margin.

Mizuho analyst Siti Panigrahi initiated coverage of $Oracle(ORCL.US)$ with a Buy rating and $116 price target. Oracle's "broad" portfolio of infrastructure and application products has matured, prompting the company to transition to the cloud to reaccelerate its growth profile, Panigrahi tells investors in a research note.

JPMorgan analyst Nick Lai downgraded $XPeng(XPEV.US)$ to Neutral from Overweight with a price target of $9, down from $11. The reopening trade in autos is "playing out rapidly and could run out of steam in near term," Lai tells investors in a research note. The market appears to be rapidly pricing in a 2023 recovery scenario as economic momentum resumes, but the recent rally "has priced in a rosy scenario while corporate earnings and underlying industry data are still lagging," says the analyst.