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US Top Rating Updates on 9/28: NFLX, LMT, ILMN, BIIB and More

avatarAnalysts Notebookwrote a column09/28 20:12
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US Top Rating Updates on 9/28: NFLX, LMT, ILMN, BIIB and More
Netflix Upgraded to Overweight From Neutral at Atlantic Equities
Atlantic Equities analyst Hamilton Faber upgraded $Netflix(NFLX.US)$ to Overweight from Neutral with a price target of $283, up from $211. The upcoming advertising-supported service launch "could be extremely material" and its benefit hasn't been reflected in consensus estimates, Faber tells investors in a research note.
Wells Fargo Downgrades Lockheed to Sell, Says Will 'Under-grow' Peers
Wells Fargo analyst Matthew Akers downgraded $Lockheed Martin(LMT.US)$ to Underweight from Equal Weight with a price target of $415, up from $406. While the bull case for defense "seems clear" with geopolitical tensions high and politicians discussing higher defense spending, 2023 sets up as a "difficult U.S. budget environment, with significant downside potential if tensions ease," Akers tells investors in a research note.
Biogen Upgraded to Buy From Neutral at Mizuho
Mizuho analyst Salim Syed upgraded $Biogen(BIIB.US)$ to Buy from Neutral with a price target of $270, up from $207, following the positive CLARITY AD trial data in early Alzheimer's disease patients. The analyst now assumes $8B, up from $6, in end-user, non-risk-adjusted worldwide peak sales for lecanemab, which is pre-50/50 profit split between Biogen and Eisai.
Source: Seeking Alpha, The Fly
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