Today's noteworthy upgrades include: AMD (AMD) upgraded to Market Perform from Underperform at Bernstein...BP (BP) upgraded to Neutral from Sell at Goldman...BankUnited (BKU) upgraded to Buy from Neutral at BofA/Merrill...Bellicum Pharmaceuticals (BLCM) upgraded to Buy from Neutral at Guggenheim...Canadian National (CNI) upgraded to Buy from Neutral at BofA/Merrill...Chevron (CVX) upgraded to Overweight from Neutral at JPMorgan...Diageo (DEO) upgraded to Outperform from Neutral at Exane BNP Paribas...Encana (ECA) upgraded to Buy from Neutral at Goldman...Gran Tierra (GTE) upgraded to Neutral from Sell at Goldman...Interpublic Group (IPG) upgraded to Outperform from Market Perform at FBR Capital...J.B. Hunt (JBHT) upgraded to Buy from Neutral at BofA/Merrill...Meritage Homes (MTH) upgraded to Neutral from Underweight at JPMorgan...Noble Energy (NBL) upgraded to Buy from Hold at Jefferies...Norfolk Southern (NSC) upgraded to Buy from Neutral at BofA/Merrill...Pinnacle Financial (PNFP) upgraded to Outperform from Market Perform at Keefe Bruyette...PulteGroup (PHM) upgraded to Neutral from Underweight at JPMorgan...Rio Tinto (RIO) upgraded to Buy from Neutral at UBS...Spectra Energy (SE) upgraded to Buy from Neutral at Goldman...Syngenta (SYT) upgraded to Outperform from Market Perform at Bernstein...Toll Brothers (TOL) upgraded to Neutral from Underweight at JPMorgan...Total (TOT) upgraded to Conviction Buy from Neutral at Goldman...TransCanada (TRP) upgraded to Neutral from Sell at Goldman...VMware (VMW) upgraded to Positive from Neutral at Susquehanna...WhiteWave (WWAV) upgraded to Outperform from Market Perform at Bernstein...Whiting Petroleum (WLL) upgraded to Buy from Neutral at Goldman...Zendesk (ZEN) upgraded to Outperform from Neutral at Credit Suisse...Zoetis (ZTS) upgraded to Outperform from Market Perform at BMO Capital...lululemon (LULU) upgraded to Outperform from Neutral at Baird.

TD Cowen raised the firm's price target on AMD to $200 from $185 and keeps a Buy rating on the shares. The analyst expect data center strength and "well-known softness elsewhere" when AMD reports Q1 results. The firm sees AMD as generating upwards of $10.00 in earnings per share by 2027, or a nearly 40% annual growth off of 2023. TD increased its MI300 2024 revenue estimate to $4.5B from $4B, saying ramps at several customers will continue to happen more quickly than typical. AMD remains one of its top picks.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Alcoa (AA)... To see the rest of the story go to thefly.com. See Story Here

Susquehanna lowered the firm's price target on J.B. Hunt to $185 from $195 and keeps a Neutral rating on the shares. The firm said they believe long-term investments will deliver meaningful profit growth when demand accelerates and pricing shifts to the company's favor but they don't see a catalyst to ignite that into mid-2024.

Stephens lowered the firm's price target on J.B. Hunt to $192 from $210 and keeps an Overweight rating on the shares. While the magnitude of the EPS downside was more pronounced than the firm had anticipated, Stephens continues to view J.B. Hunt as "very well positioned over the long term" due to tailwinds from various company-specific benefits and secular growth drivers, the analyst tells investors.

UBS lowered the firm's price target on J.B. Hunt to $211 from $234 and keeps a Buy rating on the shares. J.B. Hunt's Q1 EPS was a downside surprise despite declining expectations going into the report, the analyst tells investors in a research note. UBS thinks the key underlying driver is continuing weakness in the freight cycle which is causing increased competition and pressure on price and volumes.

Barclays lowered the firm's price target on J.B. Hunt to $170 from $200 and keeps an Equal Weight rating on the shares following the Q1 report. Weak intermodal volumes and lower pricing materially dragged on margins and set up for a likely significant reduction to market earnings expectations for J.B. Hunt, the analyst tells investors in a research note.