Today's most important upgrades

Morgan Stanley upgraded Tencent Music Entertainment Group (NYSE: TME) to Overweight from Equalweight and raised its price target of $8.50 from $4.50. According to the analysts, from 2023 they see incremental profit from the music segment more than offsetting the social segment's decline, leading to a sustainable >10% EPS 2022-2024 CAGR.

Wells Fargo upgraded Lennox International (NYSE: LII) to Overweight from Equal Weight and raised its price target to $300.00 from $238.00. Shares rose more than 2% intra-day today.

Goldman Sachs upgraded StoneCo Ltd. (NASDAQ: STNE) to Neutral from Sell and raised its price target to $11.00 from $7.50 following better-than-expected Q3/22 results.

Barclays upgraded Pentair (NYSE: PNR) to Overweight from Equalweight and raised its price target to $55.00 from $48.00.

By Davit Kirakosyan

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