UPGRADES 
for Wednesday, 20 JUL 22
Symbol Company Analyst Firm Upgrading
ALB Albemarle KeyBanc Capital Markets
AXTA Axalta Coating Systems KeyBanc Capital Markets
BABA Alibaba Bernstein
BERY Berry Global Credit Suisse
CHKP Check Point Software BofA Securities *
CVX Chevron HSBC Securities *
DTM DT Midstream Barclays
EGO Eldorado Gold Canaccord Genuity *
FMC FMC Corp KeyBanc Capital Markets
FNV Franco-Nevada Stifel *
NFLX Netflix Stifel *
VITL Vital Farms Morgan Stanley
XYL Xylem Stifel *
* = Upgrade to BUY
DOWNGRADES 
for Wednesday, 20 JUL 22
Symbol Company Analyst Firm Downgrading
ALLY Ally Financial Evercore ISI
ANET Arista Networks BofA Securities
ATRA Atara Biotherapeutics Citigroup *
BIRD Allbirds Stifel
CMI Cummins Bernstein
EQR Equity Residential Piper Sandler
EXLS ExlService Citigroup *
EXP Eagle Materials JP Morgan
FFIV F5 Networks BofA Securities
FOR Forestar BTIG Research
GOOGL Alphabet A Exane BNP Paribas
HOLX Hologic BofA Securities
JNPR Juniper Networks BofA Securities
MIELY Mitsubishi Electric Citigroup *
MLNK MeridianLink Wolfe Research
PLBY PLBY Group Stifel
PYPL PayPal Wolfe Research
SEE Sealed Air Credit Suisse
TSN Tyson Foods Cleveland Research
UMGNF Universal Music Group N.V. HSBC Securities
VBLT Vascular Biogenics Oppenheimer
VBLT Vascular Biogenics H.C. Wainwright
VSTA Vasta Platform Goldman
WEC WEC Energy Group Credit Suisse
WU Western Union Wolfe Research
WWW Wolverine Stifel
WY Weyerhaeuser Argus
* = SELL
COVERAGE INITIATED 
for Wednesday, 20 JUL 22
Symbol Company Analyst Firm Downgrading Initial Recommendation
A Agilent UBS BUY *
ACLX Arcellx Canaccord Genuity BUY *
CIVI Civitas Resources MKM Partners BUY *
CZR Caesars Entertainment Susquehanna Neutral
DDOG Datadog Bernstein Outperform
DHR Danaher UBS BUY *
DYN Dyne Therapeutics Chardan Capital Markets BUY *
FWRD Forward Air The Benchmark Company Hold
HOLX Hologic UBS Neutral
INVA Innoviva Goldman Neutral
KYMR Kymera Therapeutics SVB Leerink Mkt Perform
LNDC Landec Stephens Overweight
MORF Morphic SVB Leerink Outperform
MTD Mettler-Toledo UBS Neutral
NG NovaGold Resources National Bank Financial Outperform
NGM NGM Biopharmaceuticals Jefferies BUY *
NOW ServiceNow Bernstein Outperform
OKTA Okta Bernstein Mkt Perform
PKI PerkinElmer UBS BUY *
PLRX Pliant Therapeutics SVB Leerink Outperform
QDEL QuidelOrtho UBS Sell
RGEN Repligen UBS BUY *
RNA Avidity Biosciences Chardan Capital Markets BUY *
RSI Rush Street Interactive Susquehanna Neutral
RXDX Prometheus Biosciences Goldman BUY *
SHCR Sharecare Morgan Stanley Equal-Weight
SYM Symbotic Cantor Fitzgerald Overweight
TEAM Atlassian Bernstein Outperform
TWLO Twilio Bernstein Mkt Perform
WAT Waters UBS Neutral
ZM Zoom Video Bernstein Mkt Perform
REITERATED for Wednesday, 20 JUL 22
AAPL Apple Wells Fargo Outperform
AAPL Apple Morgan Stanley Outperform
HOG Harley-Davidson BofA Securities BUY *
JBHT J.B. Hunt Transport Wolfe Research Outperform
JBHT J.B. Hunt Transport Wells Fargo Outperform
JBHT J.B. Hunt Transport UBS Hold
JBHT J.B. Hunt Transport Raymond James Outperform
JBHT J.B. Hunt Transport Evercore ISI Outperform
JBHT J.B. Hunt Transport Credit Suisse Hold
JBHT J.B. Hunt Transport Cowen Hold
JBHT J.B. Hunt Transport BofA Securities BUY *
NFLX Netflix Wolfe Research Outperform
NFLX Netflix Robert W. Baird Hold
NFLX Netflix Pivotal Research Group SELL *
NFLX Netflix Piper Sandler Hold
NFLX Netflix Morgan Stanley Hold
NFLX Netflix Macquarie Underperform
NFLX Netflix JP Morgan Hold
NFLX Netflix Credit Suisse Hold
NFLX Netflix Atlantic Equities Hold