UPGRADES 
for Friday 1 JUL 22
Symbol Company Analyst Firm Upgrading
AMKBY Moller Maersk JP Morgan
AVAV AeroVironment Alembic Global Advisors
CPNG Coupang Credit Suisse
FRC First Republic Bank Atlantic Equities
STR Sitio Royalties Corp. RBC Capital Mkts
TTE TotalEnergies SE Jefferies *
* = Upgrade to BUY
DOWNGRADES 
for Friday, 1 JUL 22
Symbol Company Analyst Firm Downgrading
DCT Duck Creek Technologies JMP Securities
DCT Duck Creek Technologies BofA Securities
ENLAY Enel SpA HSBC Securities
FDX FedEx Berenberg
HBAN Huntington Banc JP Morgan
HBT HBT Financial JP Morgan
LOB Live Oak Bancshares JP Morgan
MU Micron BofA Securities
SSREY Swiss Re Barclays
XPEV XPeng Nomura
ZIM ZIM Integrated Shipping BofA Securities
COVERAGE INITIATED 
for Friday, 1 JUL 22
Symbol Company Analyst Firm Downgrading Initial Recommendation
ALVO Alvotech Deutsche Bank Hold
BLTE Belite Bio The Benchmark Company BUY *
CERT Certara Piper Sandler Overweight
CMCSA Comcast Daiwa Securities Outperform
CUZ Cousins Prop Wolfe Research Peer Perform
HOG Harley-Davidson DA Davidson Neutral
PARA Paramount Global Daiwa Securities Neutral
SON Sonoco Products Citigroup BUY *
SOUN SoundHound AI Cantor Fitzgerald Neutral
SYM Symbotic Citigroup BUY *
VECT VectivBio Piper Sandler Overweight