Today's most important upgrades

MKM Partners upgraded Activision Blizzard (NASDAQ: ATVI) to Buy from Neutral with a price target of $95.00, noting that shares are severely discounting the fundamental improvements being seen with the business and the strong growth potential in 2023.

Northland Capital Markets upgraded Shoals Technologies Group (NASDAQ: SHLS) to Outperform from Market Perform with a price target of $30.00. Shares surged more than 20% intra-day today following the company’s reported Q3 beat.

Argus upgraded Philip Morris (NYSE: PM) from Hold to Buy with a price target of $110.00 given the company's strong growth outlook. The analysts noted that the company aims to become a mostly smoke-free (noncombustible) company by 2025 by phasing out cigarettes and replacing them with higher-margin alternatives such as Heated Tobacco Products (HTP), which currently represent 30% of its net sales.

Atlantic Equities upgraded Chubb Corporation (NYSE: CB) to Overweight from Neutral with a price target of $240.00 following another strong quarterly result, as well as a substantial upside to rising interest rates.

By Davit Kirakosyan

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