Catch up on today’s top five analyst upgrades with this list compiled by The Fly: 1. John Bean Technologies (JBT) upgraded to Outperform from Neutral at Baird with analyst Mircea Dobre saying demand for both the company’s segments is in the early stages of recovery and likely to exceed the prior cycle driven by customer investment in increased capacity and technology upgrades and increased transportation funding. 2. Urban Outfitters (URBN) upgraded to Neutral from Underweight at JPMorgan with analyst Matthew Boss seeing balanced risk/reward setup ahead with comps at core Urban Outfitters Anthropologie and Free People “showing signs of stabilization.” 3. Johnson Controls (JCI) upgraded to Overweight from Equal Weight at Barclays with analyst Julian Mitchell saying in an environment where growth is peaking for most multi-industry companies alongside “very high” valuations, and the cyclical momentum will start to decelerate into 2022, Johnson Controls “offers an attractive combination of accelerating sales growth, structural tailwinds to the top-line, and margin self-help.” 4. Oneok (OKE) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Robert Kad saying expected strength in well completions and rig additions in the Bakken have driven a 4% and 7.2% increase to his respective 2021 and 2022 EBITDA estimates, respectively. 5. Steris (STE) upgraded to Buy from Hold at Needham with analyst Mike Matson believing that the company’s announced deal to acquire Cantel Medical (CMD) will be “significantly accretive” to its earnings per share, while the management’s “conservative” FY22 guidance announced with Q4 results last week will drive an increase in consensus estimates. This list is just a portion of The Fly’s full analyst coverage. To see The Fly’s full Street Research coverage, (click here.):(http://thefly.com/streetResearch.php)
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