UPGRADES 
for Monday, 18 JUL 22
Symbol Company Analyst Firm Upgrading
BWA BorgWarner Deutsche Bank *
CHT Chunghwa Telecom JP Morgan
CPYYY Centrica Bernstein
EXFY Expensify BofA Securities *
GRAB Grab JP Morgan
HLI Houlihan Lokey Morgan Stanley
IDEXY Inditex UBS *
JPM JPMorgan Chase Berenberg
NU Nu Holdings New Street *
RYAM Rayonier Adv. Materials RBC Capital Mkts
SMSMY Sims Metal Mgmt Citigroup *
WDFC WD-40 DA Davidson *
YUM Yum! Brands Goldman *
* = Upgrade to BUY
DOWNGRADES 
for Monday, 18 JUL 22
Symbol Company Analyst Firm Downgrading
ACT Enact Holdings Keefe Bruyette
AEVA Aeva Piper Sandler
AMIGY Admiral Group Jefferies
BL BlackLine BofA Securities
CRK Comstock Goldman
DYAI Dyadic International Dawson James
EAT Brinker Goldman
EBKDY Erste Group Bank Morgan Stanley
EFC Ellington Financial Keefe Bruyette
FOXA Fox Corporation Morgan Stanley
GM General Motors Deutsche Bank
GT Goodyear Tire Deutsche Bank
HNNMY H&M UBS
HOLX Hologic BTIG Research
IEX IDEX Corp Stifel
IP Int'l Paper Wells Fargo
JHG Janus Henderson Group JP Morgan
LAZ Lazard Morgan Stanley
LMND Lemonade Piper Sandler
MC Moelis Morgan Stanley
MFA MFA Financial Keefe Bruyette
MGNX MacroGenics SMBC Nikko
MITT AG Mortgage Investment Trust Keefe Bruyette
NYMT New York Mortgage Trust Keefe Bruyette
PARA Paramount Global Morgan Stanley
RDN Radian Group Keefe Bruyette
UBS UBS AG Barclays
UDMY Udemy Piper Sandler
COVERAGE INITIATED 
for Monday, 18 JUL 22
Symbol Company Analyst Firm Downgrading Initial Recommendation
ABSI Absci Corporation Truist BUY *
AMPS Altus Power JP Morgan Neutral
CHK Chesapeake Energy Goldman BUY *
CVRX CVRx, Inc. Craig Hallum BUY *
DICE DICE Therapeutics H.C. Wainwright BUY *
KHC Kraft Heinz Mizuho BUY *
NKTX Nkarta SVB Leerink Outperform
OYST Oyster Point Pharma H.C. Wainwright BUY *
PEN Penumbra RBC Capital Mkts Outperform
REITERATED for Monday, 18 JUL 22
GOOG Alphabet MKM Partners BUY *
GOOGL Alphabet A MKM Partners BUY *