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
6/9/2025	WCN Waste Connections	Initiated Coverage	$187.00		Buy	Medium
6/9/2025	WM Waste Management	Initiated Coverage	$233.00		Buy	Medium
6/9/2025	RSG Republic Services	Initiated Coverage	$248.00		Hold	Medium
6/6/2025	DE Deere & Company	Upgrade	$525.00		Hold ➝ Buy	Medium
5/22/2025	MRVL Marvell Technology	Downgrade	$75.00	$66.00	Buy ➝ Hold	High
5/20/2025	KR Kroger	Upgrade	$65.00	$70.00	Sell ➝ Hold	Low
4/22/2025	CRWV CoreWeave	Initiated Coverage	$170.00	$40.00	Hold	High
4/8/2025	DG Dollar General	Upgrade	$112.00	$110.00	Hold ➝ Buy	High
4/1/2025	KR Kroger	Downgrade	$65.00	$58.00	Hold ➝ Sell	Medium
3/24/2025	BA Boeing	Upgrade	$198.00		Hold ➝ Buy	Low
3/24/2025	LMT Lockheed Martin	Downgrade	$468.00		Buy ➝ Hold	Medium
3/20/2025	LUV Southwest Airlines	Upgrade	$31.00		Sell ➝ Hold	Low
3/18/2025	PCAR PACCAR	Upgrade	$91.00		Hold ➝ Buy	Low
3/11/2025	MUSA Murphy USA	Initiated Coverage	$407.00	$600.00	Buy	Low
1/28/2025	JCI Johnson Controls International	Downgrade	$103.00	$95.00	Buy ➝ Hold	High
1/28/2025	VRT Vertiv	Downgrade	$119.00	$125.00	Buy ➝ Hold	High
1/28/2025	AMD Advanced Micro Devices	Downgrade	$127.00	$160.00 ➝ $129.00	Buy ➝ Hold	Low
1/28/2025	ETN Eaton	Downgrade	$334.00	$373.00	Buy ➝ Hold	Low
1/28/2025	TT Trane Technologies	Downgrade	$420.00	$398.00	Buy ➝ Hold	High
1/27/2025	MRVL Marvell Technology	Initiated Coverage	$75.00	$188.00	Buy	High
1/6/2025	AMKR Amkor Technology	Downgrade	$20.00	$34.00 ➝ $30.00	Buy ➝ Hold	N/A
1/6/2025	EXPE Expedia Group	Upgrade	$162.00	$220.00	Hold ➝ Buy	N/A
1/6/2025	CSCO Cisco Systems	Upgrade	$66.00	$66.00 ➝ $73.00	Hold ➝ Buy	N/A
1/6/2025	AAL American Airlines Group	Upgrade	$11.00	$23.00	Hold ➝ Buy	N/A
12/18/2024	PFGC Performance Food Group	Initiated Coverage	$85.00	$95.00	Hold	N/A
12/18/2024	SYY Sysco	Initiated Coverage	$74.00	$85.00	Hold	N/A
12/18/2024	USFD US Foods	Initiated Coverage	$75.00	$12.00	Buy	N/A
12/9/2024	QCOM QUALCOMM	Initiated Coverage	$154.00	$180.00	Hold	N/A
11/26/2024	INGM Ingram Micro	Initiated Coverage	$20.00	$26.00	Hold	N/A
10/28/2024	ALK Alaska Air Group	Upgrade	$47.00	$56.00	Hold ➝ Buy	Low
10/22/2024	MMM 3M	Upgrade	$142.00		Hold ➝ Buy	High
10/21/2024	ACI Albertsons Companies	Upgrade	$21.00	$24.00	Hold ➝ Buy	High
10/21/2024	HLT Hilton Worldwide	Downgrade	$248.00		Buy ➝ Hold	Low
9/16/2024	ORCL Oracle	Upgrade	$211.00	$210.00	Hold ➝ Buy	High
9/3/2024	LMT Lockheed Martin	Upgrade	$468.00	$704.00	Hold ➝ Buy	Low
7/22/2024	LYFT Lyft	Initiated Coverage	$15.00	$15.00	Hold	Low
7/22/2024	UBER Uber Technologies	Initiated Coverage	$83.00	$77.00	Hold	Low
6/10/2024	LUV Southwest Airlines	Reiterated Rating	$31.00	$26.00	Sell	Low
6/10/2024	ADBE Adobe	Downgrade	$378.00	$510.00	Buy ➝ Hold	Low
6/3/2024	AVGO Broadcom	Initiated Coverage	$251.00	$185.00	Buy	Low
5/22/2024	VIK Viking	Initiated Coverage	$49.00	$37.00	Buy	Low
4/22/2024	GEV GE Vernova	Initiated Coverage	$490.00	$147.00	Hold	Low
4/2/2024	OTIS Otis Worldwide	Initiated Coverage	$96.00		Hold	Low
4/1/2024	BA Boeing	Reiterated Rating	$198.00		Buy ➝ Hold	Low
1/8/2024	ALK Alaska Air Group	Downgrade	$47.00		Buy ➝ Hold	Low
1/8/2024	CSCO Cisco Systems	Downgrade	$66.00		Buy ➝ Hold	Low
1/8/2024	AMD Advanced Micro Devices	Upgrade	$127.00		Hold ➝ Buy	Low
1/8/2024	ANET Arista Networks	Upgrade	$90.00		Hold ➝ Buy	Low
1/8/2024	FDX FedEx	Upgrade	$223.00		Hold ➝ Buy	Low
1/8/2024	DE Deere & Company	Downgrade	$525.00		Buy ➝ Hold	Low
11/13/2023	LUV Southwest Airlines	Downgrade	$31.00		Neutral ➝ Underweight	Low
10/3/2023	VLTO Veralto	Initiated Coverage	$97.00	$108.00	Buy	Low
10/2/2023	XYL Xylem	Upgrade	$125.00	$122.00	Hold ➝ Buy	Low
9/11/2023	RTX RTX	Downgrade	$146.00	$92.00	Overweight ➝ Neutral	Low
9/5/2023	SPR Spirit Aerosystems	Downgrade	$37.00	$23.00	Overweight ➝ Neutral	Low
7/31/2023	BKNG Booking	Initiated Coverage	$5,286.00	$3,500.00	Overweight	Low
7/31/2023	ABNB Airbnb	Initiated Coverage	$132.00	$160.00	Neutral	Low
7/31/2023	EXPE Expedia Group	Initiated Coverage	$162.00	$135.00	Neutral	Low
3/27/2023	FDX FedEx	Initiated Coverage	$223.00	$240.00	Hold	Low
3/27/2023	UPS United Parcel Service	Initiated Coverage	$99.00	$225.00	Overweight	Low
2/15/2023	LUV Southwest Airlines	Downgrade	$31.00	$39.00	Overweight ➝ Neutral	Low
2/15/2023	ULCC Frontier Group	Downgrade	$3.00	$13.00	Overweight ➝ Neutral	Low
8/15/2022	ALGT Allegiant Travel	Initiated Coverage	$51.00		Hold	Low
8/15/2022	ALK Alaska Air Group	Initiated Coverage	$47.00		Buy	Low
8/15/2022	UAL United Airlines	Initiated Coverage	$74.00		Buy	Low
8/15/2022	LUV Southwest Airlines	Initiated Coverage	$31.00		Buy	Low
8/15/2022	DAL Delta Air Lines	Initiated Coverage	$48.00		Buy	Low
8/15/2022	AAL American Airlines Group	Initiated Coverage	$11.00		Hold	Low
8/15/2022	JBLU JetBlue Airways	Initiated Coverage	$4.00		Hold	Low
8/5/2022	HYZN Hyzon Motors	Downgrade	$1.00		Buy ➝ Hold	Low