Catch up on today’s top five analyst upgrades with this list compiled by The Fly: 1. Penumbra (PEN) upgraded to Buy from Neutral at BTIG with analyst Ryan Zimmerman citing a survey that suggests doctors have stuck with Penumbra’s stroke portfolio despite what may have been share losses early in fiscal 2021 due to competitive trialing. 2. U.S. Steel (X) upgraded to Neutral from Sell at UBS with analyst Andreas Bokkenheuser saying while the current steel price rally is not the result of a “super cycle,” and it is more supply-constraint than demand-strength driven, “it still has some legs.” 3. Wells Fargo (WFC) upgraded to Buy from Neutral at BofA with analyst Erika Najarian saying the stock’s 50% year-to-date rally is “eye-popping,” but Wells remains the only bank in its peer group still trading below recent pre-pandemic highs. 4. Northrop Grumman (NOC) upgraded to Buy from Hold at Stifel with analyst Joseph DeNardi saying given the degree of relative underperformance of defense stocks and historically low relative valuations, he now sees a much stronger case for defense stock ownership as he thinks geopolitical tensions are rising and could accelerate as COVID dynamics normalize. 5. Dick’s Sporting (DKS) upgraded to Equal Weight from Underweight at Stephens with analyst Daniel Imbro saying that while its comps will become more difficult, he believes Dick’s new guidance is “rooted in conservatism,” particularly for the second half of the year. 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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