Canaccord upgraded Confluent (CFLT) to Buy from Hold with a price target of $35, up from $28. The firm previously downgraded shares to a Hold in November on the heels of a surprising consumption model transition announcement, accompanied by a soft FY24 outlook, but it now sees a positive risk/reward as the company works its way through a transition that has "progressed better than expected."
Deutsche Bank upgraded Boston Beer (SAM) to Hold from Sell with a $273 price target. The firm noted that the stock in recent days has been trading below the firm's price target, as investors have been growing increasingly concerned about the decelerating Twisted Tea growth amidst rising competition, and still-disappointing trends across the balance of the company's portfolio in a generally questionable demand environment for broader beer.