By Davit Kirakosyan
JPMorgan upgraded Avis Budget Group (NASDAQ:CAR) to Overweight from Neutral and raised its price target to $231.00 from $230.00. Shares gained more than 16% intra-day today. According to the analysts, the company is well-positioned to leverage growth in the industry and represents an attractive investment opportunity.
Raymond James upgraded AT&T Inc (NYSE:T) to Strong Buy from Outperform with a price target of $24.00 as it believes the company will outpace peer Verizon (NYSE:VZ) over the next few months based on the current operating performance of the two businesses.
RBC Capital upgraded HEICO (NYSE:HEI) to Outperform from Sector Perform and raised its price target to $175.00 from $150.00. Shares were trading around 3% higher intra-day today. Despite the stock trading at a premium relative to its historical valuation range, the analysts believe it will benefit from the expected closure of the Exxelia acquisition, continued strength in the commercial aftermarket, and the expected positive inflection in defense sales.
Guggenheim upgraded ServiceNow (NYSE:NOW) to Buy from Neutral with a price target of $510.00, noting it believes the U.S. Federal business was likely strong enough to more than offset the commercial market softness for the company.
Barclays upgraded Texas Instruments (NASDAQ:TXN) to Equalweight from Underweight with a price target of $150.00, expecting the company to be a primary beneficiary of the Chips Act and a more muted 2022 due to supply constraints to lead to a smaller EPS correction vs. peers.
JPMorgan upgraded Wolfspeed Inc (NYSE:WOLF) to Overweight from Neutral and raised its price target to $160.00 from $130.00.
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