US Top Rating Updates on 1/27: GIS, NOC, FTNT, TTWO and More

UBS analyst Cody Ross upgraded $General Mills(GIS.US)$ to Buy from Neutral with a price target of $88, up from $85. The stock has underperformed the large-caps on concerns that structural headwinds are forming in the Pet category, but these fears are misplaced given the long-term runway for premiumization of pet products on "humanization of pet trends" and the near-term visibility to margin recovery in the segment, the analyst tells investors in a research note.

Mizuho analyst Gregg Moskowitz downgraded $Fortinet(FTNT.US)$ to Neutral from Buy with an unchanged price target of $60. The analyst remains confident the company is "very well positioned" within network security and that it will continue to take market share. However, recent channel checks were "more subdued" than expected and elevated macro challenges could exert more pressure on Fortinet's ability to execute consistently, the analyst tells investors in a research note.

Keefe Bruyette analyst Jade Rahmani downgraded $CBRE Group(CBRE.US)$ to Market Perform from Outperform with an unchanged price target of $88. The analyst reduced commercial real estate broker estimates to 10%-20% below the consensus, driven by more conservative assumptions around volume, margins, and other income.