5 big analyst picks: Baidu upgraded to Overweight, Philip Morris rated as a Buy

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5 big analyst picks: Baidu upgraded to Overweight, Philip Morris rated as a Buy
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Here is your Pro Recap of the biggest analyst picks you may have missed today: upgrades at Baidu, Philip Morris, EPR Properties, US Foods, and Studio City International.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

Baidu upgraded at Morgan Stanley

Morgan Stanley upgraded Baidu (NASDAQ: BIDU ) to Overweight from Equalweight and raised its price target to $190.00 from $160.00, as reported in real time on InvestingPro.

The company announced on Friday that it has secured a commercial license from regulators for its driverless ride-hailing service in Shenzhen. Baidu has already acquired licenses for fully driverless services in three other Chinese cities, namely Wuhan, Chongqing, and Beijing. It is currently awaiting a commercial license in Beijing.

Last month, the company reported its Q1 earnings , with EPS and revenues coming in better than the consensus estimates.

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Philip Morris upgraded to Buy

Citi upgraded Philip Morris (NYSE: PM ) to Buy from Neutral and raised its price target to $117.00 from $109.00. As a result, shares rose more than 1% in pre-market today.

The company is set to report its Q2/23 earnings next month. Street estimates stand at $1.49 for EPS and $8.78 billion for revenues.

3 more upgrades

JMP Securities upgraded EPR Properties (NYSE: EPR ) to Market Outperform from Market Perform with a price target of $54.00.

US Foods (NYSE: USFD ) shares rose more than 1% pre-market today after Morgan Stanley upgraded the company to Overweight from Equalweight and raised its price target to $54.00 from $46.00.

Credit Suisse upgraded Studio City International (NYSE: MSC ) to Outperform from Neutral and raised its price target to $11.00 from $7.50.

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