#Upgrades - Mar 03, 2025 • $ACNB: Piper Sandler Upgrades to Overweight from Neutral - PT $50 (from $37) • $BOW: KBW Upgrades to Outperform from Market Perform - PT $44 • $CHKP: Piper Sandler Upgrades to Overweight from Neutral - PT $260 (from $220) • $CMG: Morgan Stanley Upgrades to Overweight from Equalweight - PT $70 (from $65) • $CRL: Redburn-Atlantic Upgrades to Neutral from Sell - PT $188 (from $171) • $GTN: Wells Fargo Upgrades to Equal Weight from Underweight - PT $4 • $ITCI: Canaccord Genuity Upgrades to Buy from Hold - PT $132 • $KMI: Barclays Upgrades to Overweight from Equalweight - PT $31 • $MLCO: Morgan Stanley Upgrades to Overweight from Equalweight - PT $6.70 (from $7.50) • $MOS: JPMorgan Upgrades to Overweight from Neutral - PT $29 (from $26) • $MSEX: Baird Upgrades to Outperform from Neutral - PT $61 • $MYTE: TD Cowen Upgrades to Buy from Hold - PT $14 (from $13) • $ONC: BofA Securities Upgrades to Buy from Neutral - PT $320 (from $207) • $THO: BofA Securities Upgrades to Buy from Neutral - PT $125 (from $110) • $UWMC: KBW Upgrades to Outperform from Market Perform - PT $7.50 (from $6.50) • $VIV: Barclays Upgrades to Overweight from Equalweight - PT $11.50 (from $11.80)

MORNING BID 🔸 $CWAN acquires $ENFN for $11.25/share, totaling $1.5B, including $30M to end Enfusion's tax agreement. 🔸 $NVDA and $AMD drop due to new U.S. AI chip export controls, effective in 120 days. 🔸 $UNH, $CI, $CVS, $HUM up after U.S. proposes 2.2% increase in 2026 Medicare Advantage payments. 🔸 $SAGE confirms $BIIB $7.22/share acquisition proposal. 🔸 $EXAS reports Q4 revenue $713M, FY24 $2.76B; plans three new cancer tests in 2025. 🔸 $HOLX Q1 revenue $1.022B, slightly below expectations due to currency impact. 🔸 $JNJ to buy $ITCI for $132/share, valuing deal at $14.6B. 🔸 $NTRA Q4 revenue $472M, FY24 guidance $1.7B. 🔸 $RXST FY25 revenue guidance $185M-$197M, gross margin 71%-73%. 🔸 $BEN AUM dropped to $1.58T in Dec '24 from $1.65T in Nov '24 due to market downturn and $18.9B net outflows. 🔸 $LZ upgraded by JPMorgan to Overweight from Underweight, price target raised to $9 from $8. 🔸 $CLMT secured a $1.44B DOE loan to expand its Montana Renewables facility. 🔸 Biden admin delayed Nippon Steel's (NPSCY) $14.9B bid for $X to June, after blocking it on Jan. 3 for national security. 🔸 $ASO highlighted by Barron's for recovery potential in 2025 despite recent sales dips. 🔸 $BNED files for a $100M mixed shelf offering. 🔸 BMW saw sales decline due to China demand drop and recalls. 🔸 $BOOT Q3 EPS $2.43 vs. $2.05 est., revenue $608.2M vs. $593.45M, with 8.6% same-store sales growth. 🔸 $HSY CEO Michele Buck to retire by June 30, 2026. 🔸 $KSS to close San Bernardino EFC and 27 stores by April 2025, incurring $60M-$80M in charges. 🔸 $LULU ups Q4 EPS to $5.81-$5.85, revenue to $3.56B-$3.58B, with gross margin up 30 bps. 🔸 $JWN reports 4.9% net sales, 5.8% comp sales growth for holiday, expects 2.5%-3.5% comp sales growth for FY24.

#Upgrades - Sep 06, 2024 $AMRX: JPMorgan Upgrades to Neutral from Underweight - PT $9 $CARR: Wolfe Research Upgrades to Peerperform from Underperform $COIN: Barclays Upgrades to Equalweight from Underweight - PT $169 (from $206) $ETN: Wolfe Research Upgrades to Peerperform from Underperform $FTV: Mizuho Upgrades to Outperform from Neutral - PT $90 (from $80) $HOOD: Barclays Upgrades to Equalweight from Underweight - PT $20 (from $18) $HUBB: Deutsche Bank Upgrades to Buy from Hold - PT $441 (from $431) $ITCI: Piper Sandler Upgrades to Overweight from Neutral - PT $92 (from $68) $NIO: JPMorgan Upgrades to Overweight from Neutral - PT $8 (from $5.30) $OMAB: Morgan Stanley Upgrades to Overweight from Equalweight - PT $77 (from $82) $X: Exane BNP Paribas Upgrades to Outperform from Neutral