Today's most important upgrades

  • Stock Market News
Today's most important upgrades
Credit: © Reuters.

By Davit Kirakosyan

Goldman Sachs upgraded Vir Biotechnology (NASDAQ: VIR ) to Buy from Neutral and raised its price target to $53.00 from $41.00, noting compelling risk/reward for an underappreciated catalyst with the potential to drive a major new leg of growth.

Goldman Sachs also said the company will report VIR-2482 data in mid-2023, and it expects to see "meaningfully better efficacy" than currently approved and rival pipeline-stage flu vaccines.

Shares surged more than 13% intra-day today.

Wolfe Research upgraded Norfolk Southern (NYSE: NSC ) to Outperform from Peerperform with a price target of $255.00.

Since the major Ohio derailment about two weeks ago, the company’s shares are down almost 10%, while the other U.S. rails are down 4%. However, according to Wolfe Research, near-term trends are looking more favorable for the company, with volumes up 3% quarter-to-date, the best among the U.S. rails.

At the same time, met coal prices have rebounded from H2 levels and are now at their highest level since last June.

Shares were trading around 2% lower intra-day today.

CFRA upgraded Molson Coors (NYSE: TAP ) to Hold from Sell and raised its price target to $50.00 from $45.00.

Shares gained more than 8% intra-day today after the company reported its Q4 results, with EPS of $1.30 coming in better than the consensus estimate of $1.07. Revenue was $2.63 billion, slightly missing the consensus estimate of $2.64B.

Raymond James upgraded Prosperity Bancshares (NYSE: PB ) to Outperform from Market Perform with a price target of $85.00.

Piper Sandler upgraded Caleres (NYSE: CAL ) to Overweight from Neutral and raised its price target to $35.00 from $26.00 following Wednesday’s pre-announcement underpinned by 2023 earnings reset coupled with further confidence in EPS gains being structural in nature.

Shares were up 6% intra-day today.

Guggenheim upgraded Alliant Energy (NASDAQ: LNT ) to Neutral from Sell.

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