Upgrades and Downgrades for Thursday, 6/13

Upgrades

• PagBank (PAGS) upgraded by Bradesco BBI from Neutral to Outperform
• Frontier Developments (FRRDF) upgraded by Deutsche Bank from Sell to Hold
• Telekom Indonesia (TLK) upgraded by JPMorgan from Neutral to Overweight
• 3M (MMM) upgraded by Wolfe Research from Peer Perform to Outperform
• Allianz (ALIZY) upgraded by Keefe Bruyette from Market Perform to Outperform
• Sandvik (SDVKY) upgraded by DNB Markets from Hold to Buy
• Zebra Technologies (ZBRA) upgraded by Exane BNP Paribas from Underperform to Neutral
• Legal & General (LGGNY) upgraded by BofA from Neutral to Buy
• Par Technology (PAR) upgraded by Stephens from Equal Weight to Overweight
• Kimberly-Clark (KMB) upgraded by BofA from Underperform to Buy

Downgrades

• Cara Therapeutics (CARA) downgraded by Stifel from Buy to Hold
• Telefonica (TEF) downgraded by Deutsche Bank from Hold to Sell
• Ares Management (ARES) downgraded by Deutsche Bank from Buy to Hold
• Roper Technologies (ROP) downgraded by Wolfe Research from Outperform to Peer Perform
• Corning (GLW) downgraded by Morgan Stanley from Overweight to Equal Weight
• W. R. Berkley (WRB) downgraded by Goldman Sachs from Buy to Neutral
• SoftwareONE (SWONF) downgraded by Baader Helvea from Buy to Add
• Ericsson (ERIC) downgraded by Nordea from Buy to Hold
• Cara Therapeutics (CARA) downgraded by Needham from Buy to Hold
• NextEra Energy Partners (NEP) downgraded by Barclays from Equal Weight to Underweight
• Generac (GNRC) downgraded by Janney Montgomery Scott from Buy to Neutral

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