Wall Street Analyst Ratings Update: Major Upgrades for Astera Labs, JetBlue, and Cinemark
A series of analyst actions on Thursday shows significant movement across the technology, aerospace, and consumer sectors. BMO initiated coverage on Astera Labs (ALAB) with an 'Outperform' rating and a $375 price target, citing its leadership in AI infrastructure. In the airline sector, Deutsche Bank upgraded both JetBlue (JBLU) and Frontier (ULCC) to 'Buy,' noting a markedly improved near-term backdrop for airline shares. Conversely, some major players faced downgrades. Morgan Stanley moved Cisco (CSCO) to 'Equal Weight' due to concerns regarding the degree of demand pull-forward ahead of pricing increases. Truist issued a bearish outlook on Nike (NKE), downgrading it to 'Sell' citing inventory issues with Jordan products and uncertainty in the Chinese market. Other notable shifts include upgrades for Cinemark (CNK) and Procore Technologies (PCT), alongside a downgrade for Dollar Tree (DLTR).