UPGRADES 
for Wednesday, 29 JUN 22
Symbol Company Analyst Firm Upgrading
CDNS Cadence Design BofA Securities
FHI Federated Hermes Keefe Bruyette
GS Goldman Sachs BofA Securities *
HFWA Heritage Financial Corp. DA Davidson *
ICVX Icosavax Evercore ISI
MCD McDonald's Atlantic Equities
ORCL Oracle Exane BNP Paribas
ORLY O'Reilly Auto DA Davidson *
SDVKY Sandvik AB RBC Capital Mkts
SEVN Seven Hills Realty Trust JMP Securities
SNPS Synopsys BofA Securities
TTE TotalEnergies SE Bernstein
ULTA Ulta Beauty Raymond James *
* = Upgraded to BUY
DOWNGRADES 
for Wednesday, 29 JUN 22
Symbol Company Analyst Firm Downgrading
ACN Accenture Exane BNP Paribas
BBWI Bath & Body Works JP Morgan
BEN Franklin Resources Keefe Bruyette
CCEP Coca-Cola European Partners Kepler
CCI Crown Castle Deutsche Bank
CGNT Cognyte Software Evercore ISI
DEO Diageo plc Deutsche Bank *
EBMT Eagle Bancorp Montana DA Davidson
JHG Janus Henderson Group Keefe Bruyette
JOAN JOANN Inc. Loop Capital
MO Altria Barclays
NGLOY Anglo American Deutsche Bank
OLED Universal Display BofA Securities
PSO Pearson Plc UBS *
QRVO Qorvo BofA Securities
RCII Rent-A-Center Stephens
SBH Sally Beauty Raymond James
SCMWY Swisscom JP Morgan
SWKS Skyworks BofA Securities
TER Teradyne BofA Securities
TKAGY Telekom Austria JP Morgan
TROW T. Rowe Price Keefe Bruyette
TXN Texas Instruments BofA Securities
UPST Upstart Morgan Stanley
VCTR Victory Capital Keefe Bruyette
VOD Vodafone PLC JP Morgan
WETF WisdomTree Keefe Bruyette
WRLD World Acceptance Stephens
* = Downgrade to SELL
COVERAGE INITIATED 
for Wednesday, 29 JUN 22
Symbol Company Analyst Firm Downgrading Initial Recommendation
ADUS Addus HomeCare Stifel BUY *
AGESY Ageas SA/NV Barclays Overweight
ALVO Alvotech DNB Markets BUY *
AMED Amedisys Stifel Hold
AMZN Amazon Redburn BUY *
APPS Digital Turbine B. Riley Securities BUY *
ASML ASML Argus BUY *
BALY Bally's Corporation Barclays Equal Weight
BCC Boise Cascade Truist Hold
BLBD Blue Bird DA Davidson BUY *
BYD Boyd Gaming Barclays Overweight
CCL Carnival Barclays Overweight
CHH Choice Hotels Barclays Underweight
CPNG Coupang Morgan Stanley Overweight
CPTN Cepton Northland Capital Outperform
CZR Caesars Entertainment Barclays Overweight
DKNG DraftKings Barclays Equal Weight
GNRC Generac Wells Fargo Overweight
GWH ESS Inc. Chardan Capital Markets Neutral
H Hyatt Hotels Barclays Overweight
HGV Hilton Grand Vacations Barclays Overweight
HLT Hilton Barclays Equal Weight
ITHX ITHAX Acquisition Corp. Northland Capital Outperform
LEV Lion Electric DA Davidson BUY *
LPX Louisiana-Pacific Truist Hold
LVS Las Vegas Sands Barclays Overweight
MAR Marriott Barclays Overweight
MDB MongoDB Redburn Sell
MSFT Microsoft Redburn BUY *
MTN Vail Resorts Barclays Underweight
NCLH Norwegian Cruise Line Barclays Equal Weight
NOVA Sunnova Energy Wells Fargo Equal Weight
PCH PotlatchDeltic Truist Hold
RCL Royal Caribbean Barclays Overweight
REVG REV Group DA Davidson Neutral
RUN Sunrun Wells Fargo Equal Weight
SGEN Seagen Raymond James Outperform
SLDP Solid Power Chardan Capital Markets BUY *
SNOW Snowflake Redburn Neutral
SPWR SunPower Wells Fargo Underweight
THG Hanover Insurance Morgan Stanley Equal-Weight
TNL Travel + Leisure Co Barclays Equal Weight
VAC Marriott Vacations Barclays Overweight
WE WeWork UBS Neutral
WH Wyndham Hotels & Resorts Barclays Equal Weight
WY Weyerhaeuser Truist Hold
WYNN Wynn Resorts Barclays Equal Weight
YMM Full Truck Alliance Co. Ltd. Credit Suisse Outperform
REITERATION for Wednesday, 29 JUN 22
Symbol Name Analyst Firm Reiterating Rating
U Unity Software BTIG Research BUY *
CCL Carnival Morgan Stanley Underperform