US Top Rating Updates on 12/1: PANW, CRWD, HLT, H and More

Morgan Stanley analyst Jeffrey Adelson upgraded $Navient(NAVI.US)$ to Equal Weight from Underweight with a price target of $16, up from $14. Lower odds of student loan forgiveness means lower EPS risk, improved sentiment from slower FFELP loan run-off and easing headline risk, Adelson contends.

Barclays analyst Julian Mitchell downgraded $Otis Worldwide(OTIS.US)$ to Equal Weight from Overweight with an unchanged price target of $80. The analyst continues to have a neutral view on U.S. multi-industry stocks into 2023, although he says he's more optimistic than many investors.

Redburn analyst Alexander Brignall initiated coverage of five U.S. hotel stocks with a cautious, but "glass-half-full" view on potential upside from travel demand. $Hyatt Hotels(H.US)$ is his top pick, with his only Buy rating among the group.