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Listed here are the most important calls on Wall Avenue on Monday. Raymond James upgrades Planet Health to sturdy purchase from market carry out Raymond James stated in its improve that Planet Health continues to be in nice form regardless of its pullback. “The inventory is nicely off its highs from final fall and has been notably weak of late, underperforming the broader market regardless of its resilient and recession-resistant enterprise mannequin and our expectations for wholesome development in 2023. Additional, PLNT has no rate of interest danger and little or no near-term debt maturities, whereas present valuation is nicely beneath its latest historic common.” UBS downgrades Lyft to impartial from purchase UBS stated in its downgrade that it is skeptical that Lyft can ship industry-level high line development “We’re downgrading shares of Lyft to Impartial from Purchase and decreasing our ests. We mannequin ’24E Adj EBITDA of $671M, beneath the co’s $1B EBITDA goal (and Avenue at $868M), given 1) beneath goal high line ests, 2) considerations the co might reinvest and three) concern round rising insurance coverage prices past 3Q.” Jefferies downgrades Anheuser-Busch InBev to carry from purchase Jefferies in its downgrade that the beer firm will not be as cheep as its friends. “Delivering on the fairness story however transferring to the sidelines. ABI is on a firmer footing and is efficiently addressing every of the bear factors in its fairness story. Execution is enhancing and deleveraging on observe. The corporate is delivering on numbers and while we proceed to see sights, it’s not as low cost vs friends as headlines counsel and is well-loved by the sell-side with 70% BUYs vs HEIA/CARLS 50%. We’re -3.8% beneath cons F24E EPS.” Morgan Stanley upgrades Helmerich & Payne to equal weight from underweight Morgan Stanley stated the petroleum contract drilling firm has earnings development potential the above-average capex upside “Key drivers of our HP improve is that we see peer-leading FCF revisions potential regardless of modeling beneath avg. EBITDA upside and above avg. capex upside. Moreover, we see sturdy draw back safety for HP shares, supported by the online money place we forecast for the corporate by calendar year-end 2022.” —With reporting by Michael Bloom
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