TD Cowen Stock Recommendations and Price Targets

This is a list of recent ratings by TD Cowen.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
3/21/2025	FDX FedEx	Lower Price Target	$239.00	$337.00 ➝ $310.00	Buy	High
3/19/2025	BP BP	Downgrade	$35.00	$40.00	Buy ➝ Hold	Medium
3/19/2025	SHEL Shell	Initiated Coverage	$71.00	$81.00	Buy	Low
3/18/2025	PRTH Priority Technology	Upgrade	$8.00		Strong-Buy	Medium
3/18/2025	LENZ LENZ Therapeutics	Initiated Coverage	$27.00	$60.00	Buy	Medium
3/18/2025	NRGV Energy Vault	Lower Price Target	$1.00	$2.50 ➝ $2.00	Buy	High
3/13/2025	AAL American Airlines Group	Boost Price Target	$12.00	$26.00	Buy	Low
3/12/2025	TER Teradyne	Lower Price Target	$90.00	$135.00 ➝ $110.00	Buy	High
3/11/2025	PBF PBF Energy	Lower Price Target	$21.00	$19.00 ➝ $17.00	Sell	High
3/11/2025	ASPN Aspen Aerogels	Upgrade	$7.00		Strong-Buy	High
3/11/2025	CDE Coeur Mining	Upgrade	$6.00		Strong-Buy	High
3/7/2025	AXL American Axle & Manufacturing	Initiated Coverage	$5.00	$5.00	Hold	Medium
3/7/2025	ALV Autoliv	Initiated Coverage	$92.00	$116.00	Buy	Low
3/7/2025	DAY Dayforce	Upgrade	$60.00	$67.00 ➝ $68.00	Hold ➝ Buy	Low
3/7/2025	BWA BorgWarner	Downgrade	$29.00	$31.00	Buy ➝ Hold	High
3/7/2025	GAUZ Gauzy	Downgrade	$10.00	$10.00	Buy ➝ Hold	Medium
3/7/2025	F Ford Motor	Initiated Coverage	$10.00	$10.00	Hold	Medium
3/7/2025	GM General Motors	Initiated Coverage	$51.00	$105.00	Buy	Low
3/7/2025	GT Goodyear Tire & Rubber	Initiated Coverage	$9.00	$14.00	Buy	High
3/7/2025	LEA Lear	Downgrade	$96.00	$95.00	Buy ➝ Hold	High
3/7/2025	CRNC Cerence	Initiated Coverage	$10.00	$11.50	Hold	N/A
3/7/2025	AUR Aurora Innovation	Initiated Coverage	$8.00	$8.00	Hold	High
3/7/2025	ASPN Aspen Aerogels	Initiated Coverage	$7.00	$11.00	Buy	Medium
3/7/2025	APTV Aptiv	Initiated Coverage	$63.00	$90.00	Buy	High
3/7/2025	TSLA Tesla	Upgrade	$268.00	$180.00 ➝ $388.00	Hold ➝ Buy	Medium
3/7/2025	LCID Lucid Group	Initiated Coverage	$2.00	$2.30	Hold	Medium
3/7/2025	RIVN Rivian Automotive	Initiated Coverage	$12.00	$12.70	Hold	Medium
3/7/2025	STLA Stellantis	Initiated Coverage	$12.00	$13.00	Hold	Low
3/7/2025	VC Visteon	Initiated Coverage	$81.00	$108.00	Buy	Low
3/6/2025	GT Goodyear Tire & Rubber	Upgrade	$9.00		Strong-Buy	Low
3/6/2025	MRVL Marvell Technology	Lower Price Target	$72.00	$125.00 ➝ $95.00	Buy	High
3/6/2025	SVCO Silvaco Group	Lower Price Target	$5.00	$15.00 ➝ $12.00	Buy	High
3/4/2025	CLMT Calumet Specialty Products Partners	Downgrade	$13.00	$26.00 ➝ $16.00	Buy ➝ Hold	High
3/4/2025	MCHP Microchip Technology	Boost Price Target	$54.00	$50.00 ➝ $60.00	Hold	Low
3/4/2025	SION Sionna Therapeutics	Initiated Coverage	$14.00		Buy	Low
3/3/2025	MYTE MYT Netherlands Parent B.V.	Upgrade	$8.00	$13.00 ➝ $14.00	Hold ➝ Buy	Low
3/3/2025	GTLS Chart Industries	Boost Price Target	$161.00	$205.00 ➝ $210.00	Buy	High
2/28/2025	ARRY Array Technologies	Lower Price Target	$6.00	$10.00 ➝ $7.00	Hold	N/A
2/28/2025	BE Bloom Energy	Boost Price Target	$24.00	$13.00 ➝ $20.00	Hold	High
2/28/2025	DELL Dell Technologies	Lower Price Target	$101.00	$128.00 ➝ $120.00	Hold	High
2/28/2025	HPQ HP	Lower Price Target	$29.00	$39.00 ➝ $38.00	Hold	High
2/28/2025	NTAP NetApp	Lower Price Target	$95.00	$160.00 ➝ $130.00	Buy	Medium
2/28/2025	RUN Sunrun	Lower Price Target	$7.00	$18.00 ➝ $14.00	Buy	High
2/27/2025	AZTA Azenta	Upgrade	$38.00		Hold	High
2/27/2025	NVAX Novavax	Upgrade	$8.00		Hold	High
2/27/2025	CERT Certara	Initiated Coverage	$11.00	$16.00	Buy	High
2/27/2025	IRON Disc Medicine	Initiated Coverage	$53.00		Buy	Low
2/27/2025	PARR Par Pacific	Lower Price Target	$14.00	$21.00 ➝ $17.00	Buy	Medium
2/26/2025	THC Tenet Healthcare	Initiated Coverage	$127.00	$175.00	Buy	Low
2/25/2025	MAZE Maze Therapeutics	Upgrade	$11.00		Strong-Buy	Medium
2/25/2025	AB AllianceBernstein	Downgrade	$38.00	$38.00 ➝ $38.50	Buy ➝ Hold	Low
2/25/2025	KRUS Kura Sushi USA	Initiated Coverage	$59.00	$72.00	Hold	High
2/24/2025	DPZ Domino's Pizza	Reiterated Rating	$460.00	$490.00 ➝ $490.00	Buy ➝ Buy	High
2/24/2025	HXL Hexcel	Upgrade	$57.00		Hold	Medium
2/24/2025	RKLB Rocket Lab USA	Upgrade	$20.00		Strong-Buy	High
2/24/2025	TXT Textron	Upgrade	$74.00		Hold	Medium
2/21/2025	PSN Parsons	Downgrade	$60.00	$105.00	Buy ➝ Hold	High
2/21/2025	AKAM Akamai Technologies	Downgrade	$82.00	$125.00 ➝ $98.00	Buy ➝ Hold	High
2/21/2025	IVA Inventiva	Initiated Coverage	$3.00	$10.00	Buy	High
2/18/2025	TNET TriNet Group	Downgrade	$78.00	$104.00 ➝ $74.00	Buy ➝ Hold	High
2/18/2025	ZGN Ermenegildo Zegna	Initiated Coverage	$7.00	$10.00	Hold	Medium
2/18/2025	SCHW Charles Schwab	Upgrade	$80.00	$88.00 ➝ $103.00	Hold ➝ Buy	Low
2/14/2025	QSR Restaurant Brands International	Downgrade	C$96.00		Strong-Buy ➝ Hold	N/A
2/14/2025	QSR Restaurant Brands International	Downgrade	$67.00	$70.00	Buy ➝ Hold	Medium
2/12/2025	CRSP CRISPR Therapeutics	Upgrade	$42.00	$35.00	Sell ➝ Hold	High
2/12/2025	ERO Ero Copper	Upgrade	$14.00		Hold ➝ Buy	Low
2/11/2025	CRNX Crinetics Pharmaceuticals	Initiated Coverage	$35.00		Buy	High
2/10/2025	MRK Merck & Co., Inc.	Downgrade	$93.00	$121.00 ➝ $100.00	Buy ➝ Hold	Low
2/10/2025	RGEN Repligen	Initiated Coverage	$142.00	$200.00	Buy	Medium
2/7/2025	G Genpact	Upgrade	$50.00	$45.00 ➝ $60.00	Hold ➝ Buy	High
2/7/2025	ILMN Illumina	Downgrade	$88.00	$177.00 ➝ $140.00	Buy ➝ Hold	High
2/6/2025	YUM Yum! Brands	Reiterated Rating	$157.00	$140.00 ➝ $140.00	Hold ➝ Hold	High
2/5/2025	PVLA Palvella Therapeutics	Initiated Coverage	$28.00	$44.00	Buy	High
2/5/2025	TEM Tempus AI	Reiterated Rating	$57.00	$58.00 ➝ $74.00	Buy	High
2/4/2025	NSSC Napco Security Technologies	Downgrade	$24.00	$46.00 ➝ $27.00	Buy ➝ Hold	High
2/4/2025	EQX Equinox Gold	Initiated Coverage	$7.00	$35.00	Hold	N/A
2/4/2025	ORLA Orla Mining	Initiated Coverage	$9.00		Hold	N/A
2/4/2025	REGN Regeneron Pharmaceuticals	Lower Price Target	$661.00	$1,230.00 ➝ $1,030.00	Buy ➝ Buy	Low
2/4/2025	SAIA Saia	Boost Price Target	$374.00	$456.00 ➝ $478.00	Hold ➝ Hold	High
2/4/2025	RL Ralph Lauren	Boost Price Target	$231.00	$258.00 ➝ $268.00	Buy ➝ Buy	Low
2/4/2025	DKNG DraftKings	Lower Price Target	$40.00	$55.00 ➝ $51.00	Buy ➝ Buy	Medium
2/4/2025	CZR Caesars Entertainment	Lower Price Target	$28.00	$50.00 ➝ $48.00	Buy ➝ Buy	Low
1/29/2025	DRIO DarioHealth	Downgrade	$1.00	$2.00 ➝ $1.00	Buy ➝ Hold	High
1/28/2025	ROP Roper Technologies	Upgrade	$576.00	$535.00 ➝ $615.00	Hold ➝ Buy	Medium
1/28/2025	AAPL Apple	Reiterated Rating	$220.00		Buy	Medium
1/28/2025	IVZ Invesco	Lower Price Target	$16.00	$20.00 ➝ $19.00	Buy ➝ Buy	Low
1/28/2025	GD General Dynamics	Lower Price Target	$266.00	$315.00 ➝ $295.00		Low
1/27/2025	LNG Cheniere Energy	Boost Price Target	$232.00	$242.00 ➝ $250.00	Buy	Medium
1/27/2025	ENPH Enphase Energy	Lower Price Target	$63.00	$120.00 ➝ $100.00	Buy	Medium
1/24/2025	ALK Alaska Air Group	Boost Price Target	$54.00	$85.00 ➝ $110.00	Buy	Low
1/24/2025	UNP Union Pacific	Boost Price Target	$237.00	$245.00 ➝ $258.00	Buy	Low
1/24/2025	UAL United Airlines	Boost Price Target	$78.00	$142.00 ➝ $165.00	Buy	Medium
1/23/2025	KNX Knight-Swift Transportation	Boost Price Target	$45.00	$62.00 ➝ $65.00	Buy	Low
1/22/2025	CELH Celsius	Downgrade	$34.00	$40.00 ➝ $29.00	Buy ➝ Hold	High
1/21/2025	FBRX Forte Biosciences	Initiated Coverage	$9.00		Buy	High
1/21/2025	SLB Schlumberger	Boost Price Target	$41.00	$53.00 ➝ $55.00	Buy	Medium
1/20/2025	PYCR Paycor HCM	Downgrade	$22.00		Strong-Buy ➝ Hold	Low
1/17/2025	HUBS HubSpot	Downgrade	$619.00	$680.00 ➝ $725.00	Buy ➝ Hold	Medium
1/17/2025	COP ConocoPhillips	Initiated Coverage	$102.00	$125.00	Buy	Low
1/17/2025	EXE Chesapeake Energy	Initiated Coverage	$108.00	$108.00	Hold	Medium