Today's Most Important Upgrades

Guggenheim upgraded Merck (NYSE: MRK) to Buy from Neutral with a price target of $104.00. According to the analysts, the company is poised to beat 2023 expectations with margin-driven potential upside to the Street estimates as the Januvia patent win makes its way into forecasts and as the business trajectory for key growth products Keytruda and Gardasil remains very positive. Shares were up more than 3% intra-day today.

BofA Securities upgraded Telus International (NYSE: TIXT) to Neutral from Underperform and raised its price target to $28.00 from $23.00.

Mizuho Securities upgraded Toast Inc. (NYSE: TOST) to Buy from Neutral and raised its price target to $24.00 from $22.00, noting that continued payroll & SaaS cross-sell success could help the company reach profitability in 2023, one year ahead of the current consensus expectations.

Kraft Heinz Company (NASDAQ: KHC) gained more than 3% intra-day today after Goldman Sachs upgraded the company to Buy from Neutral.

By Davit Kirakosyan

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