Today's most important upgrades

SMBC Nikko Securities upgraded Coupa Software (NASDAQ: COUP) to Outperform from Market Perform and raised its price target to $91.00 from $66.00. The company’s shares were trading more than 26% higher intra-day today after the company announced that it has entered into a definitive agreement to be acquired by Thoma Bravo for $81 per share in cash, valuing it at $6.15 billion.

Wolfe Research upgraded Southern Co. (NYSE: SO) to Outperform from Peerperform with a price target of $76.00, noting it sees the stock reaching a premium multiple in 2023, as investors look for names with a strong B/S and regulatory certainty. “A major milestone in 2023 is the commercial operation of U-3 – the first of two new nuclear units at Vogtle – and potentially U-4 by YE23,” added the analysts. Shares gained more than 3% intra-day today.

Under Armour, Inc. (NYSE: UAA) shares surged around 10% intra-day today after Stifel upgraded the company to Buy from Hold and raised its price target to $12.00 from $9.00, noting that relative inventory management discipline leaves the company with better margin certainty and in a better position to bring newness to market in 2023.

Morgan Stanley upgraded Crane (NYSE: CR) to Overweight from Equalweight and raised its price target to $129.00 from $116.00. Shares gained more than 3% intra-day today.

Loop Capital upgraded Acadia Healthcare (NASDAQ: ACHC) to Buy from Hold and raised its price target of $95.00 from $42.00.

By Davit Kirakosyan

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