PNC DOUBLE UPGRADE: Wolfe Research analyst Bill Carcache upgraded PNC Financial ($PNC) to Outperform from Underperform with what he identifies as a "Street-high" $252 price target, up from $194. He is excited about PNC's ability to grow revenues above industry average with the BBVA acquisition completed. Also, after having recently met with PNC's Chief Information Officer, he now believes PNC is farther along its cloud journey than peers and expects this to give it a competitive edge in new product development and innovation in coming years. CONTEXTLOGIC DOWNGRADED ON CFO EXIT: Evercore ISI analyst Shweta Khajuria downgraded ContextLogic ($WISH) to In Line from Outperform with a price target of $13, down from $17, following the departure of the company's CFO. Rajat Bahri's exit raises execution risk, especially after what Khajuria calls "a rocky public debut for the company." The departure of a tenured CFO this early post an IPO is a negative and the lack of a CFO could create some distraction, Khajuria added. ENCOMPASS UP TO BUY: Deutsche Bank analyst Pito Chickering upgraded Encompass Health ($EHC) to Buy from Hold with a price target of $104, up from $87. The analyst finds the stock's risk/reward "compelling" at current share levels. Investors have taken the announcement of Barbara Jacobsmeyer as the CEO of the Home Health and Hospice division and Crissy Carlisle as the CFO as indicators that a spinoff is more likely than a company sale, Chickering tells investors. The recent stock weakness is because spins generally take more time than a sale and there is some concern around the spin multiple, said the analyst. HP, XEROX DEAL COULD BE "COMPELLING": Bernstein analyst Toni Sacconaghi notes that despite the fact that HP Inc. ($HPQ) previously rebuked a hostile takeover attempt from Xerox ($XRX) last year, the company's ongoing commentary about M&A has been "relatively constructive," with the analyst quoting HP's CEO Enrique Lores as having asserted that the office printing space would see "consolidation going forward" and that would be an area of "value creation activity" for his company. Sacconaghi, who also notes that HP's market cap has increased 34% over the last 19 months while Xerox's has "been nearly cut in half," contends that the consolidation math for such a tie-up is "compelling." He thinks HP could buy Xerox at a 30% premium for $5B in debt and believes the EPS accretion to HP in such a scenario could be up to $1.10 per share in FY24, even with "very conservative assumptions." Sacconaghi has a Market Perform rating and $32 price target on HP Inc. shares. KEYSIGHT CUT AS LIMITED FURTHER MARGIN EXPANSION SEEN: Barclays analyst Tim Long downgraded Keysight Technologies ($KEYS) to Equal Weight from Overweight with an unchanged price target of $162. Management execution "has been excellent," but further material margin expansion is limited and an impending 5G cycle deceleration "should leave the shares in a trading range," Long tells investors in a research note. The analyst now sees fiscal 2022 as a "flat/down" year for 5G at Keysight, with manufacturing growing in the mix. Large customers are getting closer to deploying at scale, and lower-tiered players are now entering the investment phase, which will slow revenue growth moving forward, says Long.Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .