American Express, Biogen upgraded: Wall Street's top analyst calls

• JPMorgan upgraded American Express (AXP) to Overweight from Neutral with a terms people of $400, up from $328. The institution trades astatine a flimsy premium to the group, but this is warranted fixed the antiaircraft quality of its revenues, the expert tells investors successful a probe note.

• Truist upgraded Biogen (BIIB) to Buy from Hold with a terms people of $235, up from $190, up of the Phase 2 BIIB080 information presumption astatine AAIC adjacent week and the approaching Phase 3 pipeline readouts with litifilimab owed successful Q4. The firm's "increasingly constructive" presumption connected the outlook for Biogen shares is driven by expectations for the unveiling of differentiated, clinically meaningful Phase 2 information with Diranersen, and an charismatic risk/reward.

• Jefferies upgraded Shopify (SHOP) to Buy from Hold with a terms people of $160, up from $140. Third enactment information indicates Shopify's fiscal Q2 results volition bushed statement estimates, the expert tells investors successful a probe note.

• Morgan Stanley upgraded Keysight Technologies (KEYS) to Overweight from Equal Weight with a terms people of $400, up from $350. The steadfast views Keysight arsenic a play connected AI concern and broadening architectures versus a play connected a peculiar architecture.
  

• Wells Fargo upgraded Humana (HUM) to Overweight from Equal Weight with a terms people of $502, up from $227. The steadfast believes the moderating Medicare Advantage outgo inclination "requires a thesis refresh" for Humana.

Top 5 Downgrades:

• BofA downgraded Papa John's (PZZA) to Underperform from Neutral with a terms people of $34, down from $42. The steadfast thinks it is improbable erstwhile CFO Ravi Thanawala would person near his station aft little than 3 years if helium believed a crisp turnaround were imminent, the expert tells investors.

• Loop Capital downgraded Best Buy (BBY) to Hold from Buy with an unchanged terms people of $82.
  

• RBC Capital downgraded Kymera Therapeutics (KYMR) to Sector Perform from Outperform with a terms people of $115, up from $106. While the steadfast believes STAT6 degrader '621 has shown biomarkers that powerfully suggest it tin beryllium an "oral dupi" and believes the institution could beryllium an M&A people should year-end Phase IIb AD information supply further de-risking, it views the reward/risk arsenic much balanced.

• Keefe Bruyette downgraded Porch Group (PRCH) to Market Perform from Outperform with a terms people of $16.25, up from $13. The stock's 116% rally successful the past 3 months brings a much balanced risk/reward setup, the expert tells investors successful a probe note.

• Piper Sandler downgraded Ameris Bancorp (ABCB) to Neutral from Overweight with a $96 terms target. Ameris remains a precocious prime slope with beardown semipermanent maturation prospects, but aft a important banal rally and a much balanced valuation, expectations person been modestly lowered owed to slower stock repurchases and owe recovery, making the shares little compelling to bargain astatine existent levels, according to the firm.