US Top Rating Updates on 1/31: BAC, DLTR, EW, INCY and More

William Blair analyst Andy Hsieh upgraded $FibroGen (FGEN.US)$ to Outperform from Market Perform following a deep dive on the potential of pamrevlumab, the company's wholly owned monoclonal antibody against connective tissue growth factor, which is being evaluated in the treatment of idiopathic pulmonary fibrosis, or IPF, locally advanced pancreatic cancer, or LAPC, and Duchenne muscular dystrophy, or DMD.

Atlantic Equities downgrades $Bank of America (BAC.US)$ to Neutral from Overweight, price target is $40. Bank of America has an average rating of outperform and price targets ranging from $33 to $52, according to analysts polled by Capital IQ.

EF Hutton analyst Michael King initiated coverage of $Xencor (XNCR.US)$ with a Buy rating and $42 price target. The analyst calls Xencor one of the biotech industry's most prolific antibody and protein engineering companies. Advancement of multiple late-stage clinical assets are key to driving value in the shares in 2023, the analyst tells investors in a research note.