Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Starbucks (SBUX) downgraded to Sell from Hold at DZ Bank. 2. Encana (ECA) downgraded to Equal Weight from Overweight at Morgan Stanley and to Market Perform from Outperform at BMO Capital. 3. Hilton (HLT) downgraded to Hold from Buy at Argus with analyst John Staszak saying that while the company is seeing success from its franchised business model, some of its markets are facing more challenging economic conditions and competition from other hoteliers and Airbnb is growing tighter. 4. Motorola Solutions (MSI) downgraded to Hold on valuation at Gabelli with analyst Hendi Susanto citing valuation. 5. UMC (UMC) downgraded to Sell from Underperform at CLSA with the firm's analyst citing the U.S. federal grand jury indictment into the company's potential involvement in IP-theft from Micron (MU). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Truist analyst C. Patrick Scholes raised the firm's price target on Hilton to $209 from $199 and keeps a Hold rating on the shares after its Q1 earnings beat. The company reported "powerful" earnings earnings growth in spite of the "choppy" RevPAR macro backdrop, the analyst tells investors in a research note. Truist adds however that while it continues to view Hilton's business model as among the best-in-class, it is retaining its Hold rating as it sees the stock being "fairly valued at a premium valuation".

Macquarie raised the firm's price target on Hilton to $205 from $192 and keeps a Neutral rating on the shares following what the firm calls "another strong EBITDA beat" in Q1. Management also increased its 2024 EBITDA guidance, notes the firm, which still awaits a better entry point.

Citi analyst Laura Chen upgraded UMC to Buy from Neutral with a NT$58 price target after the company posted better-than-expected Q1 results. UMC expects wafer shipments to rise by a low-single digit percentage quarter-over-quarter with average selling price staying firm, notes the analyst, who sees a "gradual improvement on the way."

Reports Q1 revenue $2.573, consensus $2.55B. Q1 system-wide comparable RevPAR increased 2.0%, on a currency neutral basis, compared to the same period in 2023. Christopher J. Nassetta, President & CEO, said, "We are pleased to report a strong first quarter with bottom line results meaningfully exceeding our expectations, further demonstrating the power of our resilient, fee-based business model and strong development story. During the first quarter, system-wide RevPAR increased 2.0 percent as renovations, inclement weather and unfavorable holiday shifts weighed on performance more than anticipated. On the development side, we continued to see great momentum across signings, starts and openings. As a result of our record pipeline and the growth pace we've seen to-date, we expect net unit growth of 6.0%-6.5% for the full year, excluding the planned acquisition of the Graduate Hotels brand."