US Top Rating Updates on 1/12: SHEL, HPE, TTE, HAL and More

Wolfe Research analyst Sam Margolin downgraded $Shell PLC(SHEL.US)$ to Peer Perform from Outperform without a price target. The company "has headroom" to its shareholder returns formula but faces "very stiff" compares following the distribution of Permian sale proceeds in 2022, Margolin tells investors in a research note.

Evercore ISI analyst Amit Daryanani downgraded $Hewlett Packard Enterprise(HPE.US)$ to In Line from Outperform with an unchanged price target of $18. The analyst cites valuation for the downgrade with the shares close to the price target. In addition, he expects global IT spend to moderate, but still grow, in the range of 3%-5% year-over-year in 2023.

JPMorgan analyst Alex Yao upgraded $KE Holdings(BEKE.US)$ to Overweight from Neutral with a price target of $21, up from $17. The analyst sees upside to near-term earnings and says KE's "proven profitability" could drive higher 2023 earnings estimates. News flow on further property easing for home purchase restrictions in China or financing of developers "could keep near-term sentiment afloat as well," Yao tells investors in a research note.