Today's most important upgrades

Loop Capital upgraded Upstart Holdings Inc (NASDAQ: UPST) to Buy from Hold with a price target of $24.00 as the firm believes shares have reached a level that provides relative outperformance to its price target.

Shares jumped more than 28% intra-day today after the company reported a Q4 beat, but guided significantly lower for Q1/23 revenues.

“The company reported difficult numbers for its Q4 last night (volume down 63%) and an ugly guide for Q1 (volume estimated to be down 70%). However, we think the odds are that the TTM ending Q2:23 will be end of the worst of times, not the beginning,” said the firm.

CFRA upgraded Zoetis Inc. (NYSE: ZTS) to Buy from Hold and raised its price target to $200.00 from $149.00.

Shares closed more than 5% higher yesterday and were trading 2% higher intra-day today after the company reported its Q4 results and released a strong outlook. Q4 EPS and revenues came in at $1.15 and $2 billion, respectively, in line with consensus estimates.

For fiscal 2023, the company expects EPS in the range of $5.34-$5.44, compared to the consensus of $5.33. Full-year revenue is expected in the range of $8.575-8.725B, better than the consensus estimate of $8.57B.

Piper Sandler upgraded U.S. Bancorp (NYSE: USB) to Overweight from Neutral and raised its price target to $57.00 from $53.00.

UBS upgraded ANGI HomeServices (NASDAQ: ANGI) to Neutral from Sell and raised its price target to $2.75 from $2.00.

Shares gained more than 13% intra-day today recovering from an 8% drop yesterday, which was followed by the company’s reported worse-than-expected Q4 results.

RBC Capital upgraded Ecolab Inc. (NYSE: ECL) to Outperform from Sector Perform and raised its price target of $185.00 from $155.00.

The company reported its Q4 results yesterday, with EPS of $1.27 coming in better than the consensus estimate of $1.25, while revenue of $3.67B missed the consensus estimate of $3.71B.

Shares were trading more than 3% higher intra-day today, continuing yesterday’s gain of 7%.

By Davit Kirakosyan

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