Melius Stock Recommendations and Price Targets

This is a list of recent ratings by Melius.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
4/8/2025	DG Dollar General	Upgrade	$93.00	$110.00	Hold ➝ Buy	High
4/1/2025	KR Kroger	Downgrade	$71.00	$58.00	Hold ➝ Sell	Medium
3/24/2025	BA Boeing	Upgrade	$162.00		Hold ➝ Buy	Low
3/24/2025	LMT Lockheed Martin	Downgrade	$464.00		Buy ➝ Hold	Medium
3/20/2025	LUV Southwest Airlines	Upgrade	$25.00		Sell ➝ Hold	Low
3/18/2025	PCAR PACCAR	Upgrade	$88.00		Hold ➝ Buy	Low
3/11/2025	MUSA Murphy USA	Initiated Coverage	$511.00	$600.00	Buy	Low
1/28/2025	JCI Johnson Controls International	Downgrade	$77.00	$95.00	Buy ➝ Hold	High
1/28/2025	VRT Vertiv	Downgrade	$73.00	$125.00	Buy ➝ Hold	High
1/28/2025	AMD Advanced Micro Devices	Downgrade	$87.00	$160.00 ➝ $129.00	Buy ➝ Hold	Low
1/28/2025	ETN Eaton	Downgrade	$268.00	$373.00	Buy ➝ Hold	Low
1/28/2025	TT Trane Technologies	Downgrade	$333.00	$398.00	Buy ➝ Hold	High
1/27/2025	MRVL Marvell Technology	Initiated Coverage	$52.00	$188.00	Buy	High
1/6/2025	AAL American Airlines Group	Upgrade	$9.00	$23.00	Hold ➝ Buy	N/A
1/6/2025	CSCO Cisco Systems	Upgrade	$56.00	$66.00 ➝ $73.00	Hold ➝ Buy	N/A
1/6/2025	EXPE Expedia Group	Upgrade	$151.00	$220.00	Hold ➝ Buy	N/A
1/6/2025	AMKR Amkor Technology	Downgrade	$16.00	$34.00 ➝ $30.00	Buy ➝ Hold	N/A
12/18/2024	USFD US Foods	Initiated Coverage	$62.00	$12.00	Buy	N/A
12/18/2024	SYY Sysco	Initiated Coverage	$72.00	$85.00	Hold	N/A
12/18/2024	PFGC Performance Food Group	Initiated Coverage	$76.00	$95.00	Hold	N/A
12/9/2024	QCOM QUALCOMM	Initiated Coverage	$137.00	$180.00	Hold	N/A
11/26/2024	INGM Ingram Micro	Initiated Coverage	$16.00	$26.00	Hold	N/A
10/28/2024	ALK Alaska Air Group	Upgrade	$45.00	$56.00	Hold ➝ Buy	Low
10/22/2024	MMM 3M	Upgrade	$130.00		Hold ➝ Buy	High
10/21/2024	HLT Hilton Worldwide	Downgrade	$210.00		Buy ➝ Hold	Low
10/21/2024	ACI Albertsons Companies	Upgrade	$22.00	$24.00	Hold ➝ Buy	High
9/16/2024	ORCL Oracle	Upgrade	$129.00	$210.00	Hold ➝ Buy	High
9/3/2024	LMT Lockheed Martin	Upgrade	$464.00	$704.00	Hold ➝ Buy	Low
7/22/2024	LYFT Lyft	Initiated Coverage	$11.00	$15.00	Hold	Low
7/22/2024	UBER Uber Technologies	Initiated Coverage	$75.00	$77.00	Hold	Low
6/10/2024	LUV Southwest Airlines	Reiterated Rating	$25.00	$26.00	Sell	Low
6/10/2024	ADBE Adobe	Downgrade	$349.00	$510.00	Buy ➝ Hold	Low
6/3/2024	AVGO Broadcom	Initiated Coverage	$171.00	$185.00	Buy	Low
5/22/2024	VIK Viking	Initiated Coverage	$40.00	$37.00	Buy	Low
4/22/2024	GEV GE Vernova	Initiated Coverage	$323.00	$147.00	Hold	Low
4/2/2024	OTIS Otis Worldwide	Initiated Coverage	$99.00		Hold	Low
4/1/2024	BA Boeing	Reiterated Rating	$162.00		Buy ➝ Hold	Low
1/8/2024	ALK Alaska Air Group	Downgrade	$45.00		Buy ➝ Hold	Low
1/8/2024	CSCO Cisco Systems	Downgrade	$56.00		Buy ➝ Hold	Low
1/8/2024	AMD Advanced Micro Devices	Upgrade	$87.00		Hold ➝ Buy	Low
1/8/2024	ANET Arista Networks	Upgrade	$71.00		Hold ➝ Buy	Low
1/8/2024	FDX FedEx	Upgrade	$207.00		Hold ➝ Buy	Low
1/8/2024	DE Deere & Company	Downgrade	$452.00		Buy ➝ Hold	Low
11/13/2023	LUV Southwest Airlines	Downgrade	$25.00		Neutral ➝ Underweight	Low
10/3/2023	VLTO Veralto	Initiated Coverage	$90.00	$108.00	Buy	Low
10/2/2023	XYL Xylem	Upgrade	$111.00	$122.00	Hold ➝ Buy	Low
9/11/2023	RTX RTX	Downgrade	$129.00	$92.00	Overweight ➝ Neutral	Low
9/5/2023	SPR Spirit AeroSystems	Downgrade	$33.00	$23.00	Overweight ➝ Neutral	Low
7/31/2023	EXPE Expedia Group	Initiated Coverage	$151.00	$135.00	Neutral	Low
7/31/2023	ABNB Airbnb	Initiated Coverage	$113.00	$160.00	Neutral	Low
7/31/2023	BKNG Booking	Initiated Coverage	$4,573.00	$3,500.00	Overweight	Low
3/27/2023	UPS United Parcel Service	Initiated Coverage	$96.00	$225.00	Overweight	Low
3/27/2023	FDX FedEx	Initiated Coverage	$207.00	$240.00	Hold	Low
2/15/2023	ULCC Frontier Group	Downgrade	$3.00	$13.00	Overweight ➝ Neutral	Low
2/15/2023	LUV Southwest Airlines	Downgrade	$25.00	$39.00	Overweight ➝ Neutral	Low
8/15/2022	JBLU JetBlue Airways	Initiated Coverage	$4.00		Hold	Low
8/15/2022	AAL American Airlines Group	Initiated Coverage	$9.00		Hold	Low
8/15/2022	DAL Delta Air Lines	Initiated Coverage	$41.00		Buy	Low
8/15/2022	LUV Southwest Airlines	Initiated Coverage	$25.00		Buy	Low
8/15/2022	UAL United Airlines	Initiated Coverage	$66.00		Buy	Low
8/15/2022	ALK Alaska Air Group	Initiated Coverage	$45.00		Buy	Low
8/15/2022	ALGT Allegiant Travel	Initiated Coverage	$44.00		Hold	Low
8/5/2022	HYZN Hyzon Motors	Downgrade	$1.00		Buy ➝ Hold	Low