Today's Most Important Upgrades

Ross Stores, Inc. (NASDAQ: ROST) shares gained more than 7% intra-day today after Wells Fargo upgraded the company to Overweight from Equal Weight and raised its price target to $110.00 from $90.00. The analysts mentioned that while they have been "fairly downbeat on the prospects for off-price over the past 12+ months," they continue to gain "optimism into the setup in the sub-sector into 2023 and beyond."

Hibbett Sports (NASDAQ: HIBB) shares surged more than 10% intra-day after BofA Securities upgraded the company to Buy from Neutral and raised its price target to $75.00 from $66.00.

Daiwa Securities upgraded Netflix (NASDAQ: NFLX) to Outperform from Neutral and raised its price target to $330.00 from $226.00. Shares were up more than 4% intra-day today.

Piper Sandler upgraded Planet Fitness (NYSE: PLNT) to Overweight from Neutral and lowered its price target to $70.00 from $73.00 given a number of drivers that suggest 2023 estimates look too low. Shares were up more than 5% intra-day today.

CFRA upgraded Baidu (NASDAQ: BIDU) to Hold from Sell while lowering its price target to $85.00 from $111.00.

By Davit Kirakosyan

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