Fly Intel: Top five analyst upgrades

Catch up on today’s top five analyst upgrades with this list compiled by The Fly:

1. Lennar (LEN) upgraded to Outperform from Sector Perform at RBC Capital with analyst Michael Dahl saying he believes Lennar’s strategic price/pace balance and internal initiatives will protect strong margins against cost inflation and drive core homebuilding returns higher, adding that upside remains from unlocking value in ancillary businesses.

2. KB Home (KBH) upgraded to Outperform from In Line at Evercore ISI with analyst Stephen Kim saying while some will point at “dark clouds,” he suggests this is a “golden age” of housing, having enjoyed an unexpected surge in demand throughout the pandemic.

3. Guggenheim analyst Laurent Grandet upgraded Kraft Heinz to Neutral from Sell following what he called a “strong” investor day event that highlighted the significant work the company is doing to reinvigorate its brands.

4. Sirius XM (SIRI) upgraded to Buy from Hold at Benchmark with analyst Matthew Harrigan saying he views the selloff as “unwarranted,” adding that it is “even plausible that the market was more spooked by the nearer-term departure of well regarded CFO David Frear.”

5. Covetrus (CVET) upgraded to Buy from Hold at Stifel with analyst Jonathan Block saying the Street’s 2022 EBITDA estimate may be $40M too low.

This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, Click Here!

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