Wall Street Research Calls: Texas Instruments Upgraded, Illumina Downgraded

Texas Instruments upgraded to Buy from Hold with a price target of $245 by TD Cowen, citing potential for outperformance in a recovery. Thermo Fisher and Danaher upgraded to Outperform by Scotiabank. BNP Paribas Exane upgraded WK Kellogg to Neutral from Underperform after Ferrero agreed to acquire it for $23.00 per share. Wedbush upgraded Cinemark and AMC Entertainment to Outperform from Neutral with price targets of $37 and $4, respectively. Scotiabank downgraded Illumina to Sector Perform from Outperform and BofA downgraded Expeditors to Underperform from Neutral.

Investors and financial professionals have received a series of significant upgrades and downgrades from leading analysts this week. Texas Instruments (TXN) and Thermo Fisher (TMO) have been upgraded, while Illumina (ILMN) and Expeditors (EXPD) have been downgraded.

Texas Instruments (TXN) received a significant upgrade from TD Cowen, moving from Hold to Buy with a price target of $245. The brokerage cited potential for outperformance in a recovery, noting that the chipmaker is well-positioned to benefit from an industrial recovery and rising free cash flow as its capital spending winds down [1].

Thermo Fisher (TMO) was upgraded by Scotiabank from Sector Perform to Outperform with a price target of $590. The firm believes the "worst-case outlook" for life science tools companies has been largely factored into valuations, and the sector’s longer-term fundamentals are mostly unchanged [2].

Danaher (DHR) was also upgraded to Outperform by Scotiabank. The firm believes the company is poised to benefit from a more consistent release slate over the next several quarters [2].

BNP Paribas Exane upgraded WK Kellogg (KLG) to Neutral from Underperform after Ferrero agreed to acquire it for $23.00 per share. The price target was set at $23 [2].

Cinemark (CNK) and AMC Entertainment (AMC) were upgraded to Outperform by Wedbush with price targets of $37 and $4, respectively. The firm believes both companies are poised to benefit from a more consistent release slate over the next several quarters and are positioned to gain market share [2].

Illumina (ILMN) was downgraded by Scotiabank from Outperform to Sector Perform with a price target of $125. The firm awaits more clarity around company-specific macro factors before again recommending the shares [2].

Expeditors (EXPD) was downgraded by BofA from Neutral to Underperform with a price target of $118. Containership rates are sliding rapidly from current levels given excess supply and muted demand [2].

These upgrades and downgrades reflect the evolving market sentiment and analyst expectations for these companies. Investors should carefully consider these ratings and targets when making investment decisions.

References:
[1] https://finance.yahoo.com/news/coreweave-initiated-texas-instruments-upgraded-133824154.html
[2] https://www.investing.com/news/stock-market-news/td-cowen-upgrades-texas-instruments-as-industrial-downturn-nears-end-4132220