US Top Rating Updates on 11/21: DIS, WBA, UNH, COP and More

MoffettNathanson analyst Michael Nathanson upgraded $Disney(DIS.US)$ to Outperform from Market Perform with a $120 price target. The analyst cites the news that Disney is bringing back former CEO Bob Iger for a two-year term for the upgrade. "We applaud Disney's Board for the courage to make this change," Nathanson tells investors in a research note.

Societe Generale analyst Raphael Dubois downgraded $ConocoPhillips(COP.US)$ to Sell from Hold with a $114 price target. The analyst cites valuation for the downgrade. At current levels the stock discounts "yet another year" of commodity prices at "inflated" 2022 levels, Dubois tells investors in a research note. The analyst says ConocoPhillips' "shareholder friendly model is now too expensive."

As previously reported, Morgan Stanley analyst Sanjit Singh downgraded $MongoDB(MDB.US)$ to Equal Weight from Overweight with a price target of $215, down from $368, citing the view that a challenging spending environment will likely weigh on growth for the next few quarters. While still a favorite long-term growth story, consensus expectations for FY24 "may be too high," Singh tells investors.