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
3/19/2026	M Macy's	Lower Price Target	$18.00	$21.00 ➝ $20.00	Hold ➝ Hold
3/19/2026	GIS General Mills	Lower Price Target	$37.00	$45.00 ➝ $37.00	Hold ➝ Hold
3/19/2026	SJM J. M. Smucker	Lower Price Target	$100.00	$124.00 ➝ $113.00	Hold ➝ Hold
3/19/2026	ENS Enersys	Initiated Coverage	$168.00	$190.00	Buy
3/19/2026	WSM Williams-Sonoma	Lower Price Target	$182.00	$250.00 ➝ $225.00	Buy ➝ Buy
3/18/2026	TS Tenaris	Reiterated Rating	$56.00		Buy ➝ Buy
3/18/2026	SAP SAP	Reiterated Rating	$185.00		Buy ➝ Buy
3/18/2026	AZN Astrazeneca	Reiterated Rating	$189.00		Buy ➝ Buy
3/18/2026	GRAL GRAIL	Upgrade	$48.00	$65.00	Hold ➝ Buy
3/18/2026	DAL Delta Air Lines	Upgrade	$65.00		Hold ➝ Strong-Buy
3/18/2026	UAL United Airlines	Upgrade	$94.00		Hold ➝ Strong-Buy
3/17/2026	FRPT Freshpet	Reiterated Rating	$63.00		Hold ➝ Hold
3/17/2026	MA Mastercard	Reiterated Rating	$492.00		Buy ➝ Buy
3/17/2026	TECH Bio-Techne	Reiterated Rating	$52.00		Buy ➝ Buy
3/17/2026	ALV Autoliv	Reiterated Rating	$102.00		Buy ➝ Buy
3/17/2026	PR Permian Resources	Boost Price Target	$20.00	$20.00 ➝ $22.00	Buy ➝ Buy
3/17/2026	SM SM Energy	Lower Price Target	$28.00	$36.00 ➝ $30.00	Buy ➝ Buy
3/17/2026	RRC Range Resources	Boost Price Target	$45.00	$40.00 ➝ $45.00	Hold ➝ Hold
3/17/2026	DVN Devon Energy	Boost Price Target	$49.00	$46.00 ➝ $50.00	Hold ➝ Hold
3/17/2026	OVV Ovintiv	Boost Price Target	$57.00	$58.00 ➝ $60.00	Buy ➝ Buy
3/17/2026	MTDR Matador Resources	Boost Price Target	$57.00	$60.00 ➝ $65.00	Buy ➝ Buy
3/17/2026	NKTR Nektar Therapeutics	Initiated Coverage	$75.00		Buy
3/17/2026	NVDA NVIDIA	Reiterated Rating	$179.00	$235.00	Buy ➝ Buy
3/16/2026	NEO NeoGenomics	Reiterated Rating	$8.00		Buy ➝ Buy
3/16/2026	TMDX TransMedics Group	Reiterated Rating	$114.00		Buy ➝ Buy
3/16/2026	MOLN Molecular Partners	Reiterated Rating	$5.00		Buy ➝ Buy
3/16/2026	AER Aercap	Reiterated Rating	$133.00		Buy ➝ Buy
3/16/2026	AON AON	Reiterated Rating	$317.00		Buy ➝ Buy
3/16/2026	INTU Intuit	Reiterated Rating	$455.00		Buy ➝ Buy
3/16/2026	SKIN Beauty Health	Lower Price Target	$1.00	$1.65 ➝ $1.50	Hold ➝ Hold
3/16/2026	WPM Wheaton Precious Metals	Boost Price Target	$121.00	$164.00 ➝ $165.00	Buy ➝ Buy
3/16/2026	ACN Accenture	Lower Price Target	$203.00	$282.00 ➝ $275.00	Buy ➝ Buy
3/16/2026	MU Micron Technology	Boost Price Target	$444.00	$450.00 ➝ $500.00	Buy ➝ Buy
3/16/2026	AZO AutoZone	Lower Price Target	$3,343.00	$4,400.00 ➝ $4,250.00	Buy ➝ Buy
3/13/2026	OPRA Opera	Reiterated Rating	$15.00		Buy ➝ Buy
3/13/2026	CVS CVS Health	Reiterated Rating	$72.00		Buy ➝ Buy
3/13/2026	SVCO Silvaco Group	Lower Price Target	$6.00	$8.00 ➝ $6.00	Buy ➝ Buy
3/13/2026	PD PagerDuty	Lower Price Target	$7.00	$20.00 ➝ $10.00	Buy ➝ Buy
3/13/2026	CTSH Cognizant Technology Solutions	Lower Price Target	$62.00	$85.00 ➝ $71.00	Hold ➝ Hold
3/13/2026	TTAN ServiceTitan	Boost Price Target	$69.00	$130.00 ➝ $135.00	Buy ➝ Buy
3/13/2026	ULTA Ulta Beauty	Lower Price Target	$534.00	$775.00 ➝ $750.00	Buy ➝ Buy
3/12/2026	MBX MBX Biosciences	Reiterated Rating	$28.00		Buy ➝ Buy
3/12/2026	NBTX Nanobiotix	Reiterated Rating	$32.00		Buy ➝ Buy
3/12/2026	HD Home Depot	Reiterated Rating	$328.00		Buy ➝ Buy
3/12/2026	BTMD biote	Lower Price Target	$1.00	$3.00 ➝ $2.50	Buy ➝ Buy
3/12/2026	CPB Campbell's	Lower Price Target	$21.00	$29.00 ➝ $24.00	Hold ➝ Hold
3/12/2026	BMBL Bumble	Reiterated Rating	$4.00	$5.00	Hold ➝ Hold
3/12/2026	KDK Kodiak AI	Lower Price Target	$8.00	$14.00 ➝ $13.00	Buy ➝ Buy
3/12/2026	PATH UiPath	Lower Price Target	$12.00	$16.00 ➝ $13.00	Hold ➝ Hold
3/12/2026	ANET Arista Networks	Initiated Coverage	$136.00	$170.00	Buy
3/12/2026	BWXT BWX Technologies	Initiated Coverage	$210.00	$230.00	Buy
3/12/2026	COHR Coherent	Initiated Coverage	$276.00	$330.00	Buy
3/12/2026	CIEN Ciena	Initiated Coverage	$413.00	$425.00	Buy
3/12/2026	LITE Lumentum	Initiated Coverage	$772.00	$675.00	Hold
3/11/2026	UBER Uber Technologies	Reiterated Rating	$75.00		Buy ➝ Buy
3/11/2026	PRTH Priority Technology	Lower Price Target	$5.00	$10.00 ➝ $9.00	Buy ➝ Buy
3/11/2026	BHVN Biohaven	Boost Price Target	$9.00	$15.00 ➝ $30.00	Buy ➝ Buy
3/11/2026	KSS Kohl's	Lower Price Target	$13.00	$23.00 ➝ $17.00	Hold ➝ Hold
3/11/2026	PRG Aaron's	Boost Price Target	$28.00	$42.00 ➝ $43.00	Buy ➝ Buy
3/11/2026	MET MetLife	Lower Price Target	$69.00	$91.00 ➝ $88.00	Buy ➝ Buy
3/11/2026	BNTX BioNTech	Lower Price Target	$89.00	$116.00 ➝ $94.00	Hold ➝ Hold
3/11/2026	TKO TKO Group	Boost Price Target	$197.00	$245.00 ➝ $250.00	Buy ➝ Buy
3/10/2026	TARA Protara Therapeutics	Reiterated Rating	$5.00		Buy ➝ Buy
3/10/2026	PLNT Planet Fitness	Reiterated Rating	$76.00		Buy ➝ Buy
3/10/2026	JBLU JetBlue Airways	Upgrade	$4.00		Hold ➝ Strong-Buy
3/10/2026	RIVN Rivian Automotive	Upgrade	$16.00	$17.00 ➝ $20.00	Hold ➝ Buy
3/10/2026	NOV NOV	Downgrade	$19.00		Strong-Buy ➝ Hold
3/10/2026	CRBG Corebridge Financial	Lower Price Target	$23.00	$38.00 ➝ $35.00	Buy ➝ Buy
3/10/2026	CHWY Chewy	Lower Price Target	$24.00	$48.00 ➝ $39.00	Buy ➝ Buy
3/10/2026	NVO Novo Nordisk A/S	Downgrade	$37.00	$42.00	Buy ➝ Hold
3/10/2026	DAL Delta Air Lines	Downgrade	$65.00		Strong-Buy ➝ Hold
3/10/2026	UAL United Airlines	Downgrade	$94.00		Strong-Buy ➝ Hold
3/10/2026	ADBE Adobe	Lower Price Target	$246.00	$400.00 ➝ $325.00	Hold ➝ Hold
3/10/2026	HCA HCA Healthcare	Boost Price Target	$499.00	$529.00 ➝ $561.00	Buy ➝ Buy
3/9/2026	BNTC Benitec Biopharma	Reiterated Rating	$12.00		Buy ➝ Buy
3/9/2026	EDIT Editas Medicine	Reiterated Rating	$2.00		Buy ➝ Buy
3/9/2026	DNTH Dianthus Therapeutics	Reiterated Rating	$80.00		Buy ➝ Buy
3/9/2026	OLMA Olema Pharmaceuticals	Reiterated Rating	$15.00		Buy ➝ Buy
3/9/2026	RAPP Rapport Therapeutics	Reiterated Rating	$27.00		Buy ➝ Buy
3/9/2026	JBLU JetBlue Airways	Lower Price Target	$4.00	$5.00 ➝ $4.00	Hold ➝ Hold
3/9/2026	AQN Algonquin Power & Utilities	Lower Price Target	$6.00	$6.50 ➝ $6.00	Hold
3/9/2026	FTRE Fortrea	Upgrade	$10.00	$15.00	Hold ➝ Buy
3/9/2026	AAL American Airlines Group	Lower Price Target	$11.00	$17.00 ➝ $13.00	Buy ➝ Buy
3/9/2026	MWH SOLV Energy	Initiated Coverage	$29.00	$32.00	Buy
3/9/2026	LNC Lincoln National	Lower Price Target	$34.00	$43.00 ➝ $38.00	Hold ➝ Hold
3/9/2026	ALK Alaska Air Group	Lower Price Target	$38.00	$63.00 ➝ $54.00	Buy ➝ Buy
3/9/2026	LUV Southwest Airlines	Lower Price Target	$41.00	$66.00 ➝ $55.00	Buy ➝ Buy
3/9/2026	DAL Delta Air Lines	Lower Price Target	$65.00	$82.00 ➝ $71.00	Buy ➝ Buy
3/9/2026	WAL Western Alliance Bancorporation	Downgrade	$67.00	$83.00	Buy ➝ Hold
3/9/2026	UAL United Airlines	Lower Price Target	$94.00	$140.00 ➝ $128.00	Buy ➝ Buy
3/9/2026	IQV IQVIA	Upgrade	$166.00	$174.00 ➝ $213.00	Hold ➝ Buy
3/6/2026	OWLT Owlet	Reiterated Rating	$5.00		Buy ➝ Buy
3/6/2026	DAWN Day One Biopharmaceuticals	Downgrade	$21.00		Buy ➝ Hold
3/6/2026	VSCO Victoria's Secret & Co.	Lower Price Target	$48.00	$60.00 ➝ $58.00	Hold ➝ Hold
3/6/2026	SO Southern	Boost Price Target	$96.00	$108.00 ➝ $112.00	Buy ➝ Buy
3/6/2026	GDYN Grid Dynamics	Lower Price Target	$6.00	$12.00 ➝ $11.00	Buy ➝ Buy
3/6/2026	COST Costco Wholesale	Reiterated Rating	$975.00		Buy ➝ Buy
3/6/2026	AEO American Eagle Outfitters	Lower Price Target	$18.00	$27.00 ➝ $21.00	Hold ➝ Hold
3/6/2026	STTK Shattuck Labs	Reiterated Rating	$6.00		Buy ➝ Buy
3/6/2026	ORCL Oracle	Lower Price Target	$156.00	$350.00 ➝ $250.00	Buy ➝ Buy