The most talked about and market moving research calls around Wall Street are now in one place. Here are today’s research Top Analyst Calls that investors need to know.
INTC: Earnings and Guidance Details
Top 5 Upgrades:
Northland upgraded Intel (INTC) to Outperform from Market Perform with a $120 price target. Intel has made “material progress” turning around the business while a shortage of server CPUs is also benefiting the company, the firm tells investors.
Raymond James upgraded Airbnb (ABNB) to Outperform from Market Perform with a $200 price target. The firm’s eight-part deep dive reinforces confidence in durable low-double-digit growth, with a low-teens bull case, while its AI opportunity across customers, hosts, and operations builds on a strong moat of first-party traffic, unique inventory, and broad distribution.
Morgan Stanley upgraded Synopsys (SNPS) to Overweight from Equal Weight with a $500 price target. Since having moved Synopsys to Equal Weight earlier this year, the firm has gained greater confidence in the synergy trajectory from the Ansys integration and in a design IP recovery.
UBS upgraded Lockheed Martin (LMT) to Buy from Neutral with a price target of $674, up from $581. The firm says growth in missiles and munitions can drive 9% annual revenue growth through 2028 for Lockheed.
Freedom Broker upgraded Costco (COST) to Buy from Hold with an unchanged price target of $1,030. The firm says Costco continues to demonstrate strong relative performance across the U.S. retail landscape.
Top 5 Downgrades:
DA Davidson downgraded Best Buy (BBY) to Neutral from Buy with a $95 price target. Fundamentals remain solid, but the downgrade is primarily driven by profit-taking and valuation after a 35% year-to-date gain, with potential upside from an emerging TV innovation and replacement cycle signaled by the first positive Consumer Electronics comp since 4Q21, the firm tells investors in a research note.
Morgan Stanley downgraded Peloton (PTON) to Underweight from Equal Weight with a price target of $4.50, down from $5. The company’s “top of funnel has meaningfully narrowed” over the past few years with gross subscriber additions falling around 78% from the peak, the firm tells investors in a research note.
BMO Capital downgraded Amgen (AMGN) to Market Perform from Outperform with an unchanged price target of $450. The firm cites valuation for the downgrade, saying Amgen’s commercial execution “is now the base case” with the shares up 34% year-to-date.
Phillip Securities downgraded Palo Alto Networks (PANW) to Neutral from Accumulate with a price target of $346, up from $320, citing share price performance. While “bullish” on Palo Alto, the firm notes that the stock rallied about 160% from its February low to an August peak of $396, driven by AI-related catalysts and easing software valuation concerns.
Freedom Capital downgraded Doximity (DOCS) to Hold from Buy with a price target of $27, up from $24. The firm believes Doximity’s fiscal Q1 results validate the revenue side of the AI thesis, but at the expense of margins.
Top 5 Initiations:
Pivotal Research initiated coverage of SpaceX (SPCX) with a Buy rating and $220 price target. The firm says the investment case “rests almost entirely on a single admittedly massive engineering bottleneck: Starship reusability.”
Citi initiated coverage of UiPath (PATH) with a Buy rating and $23 price target. The firm believes the company is turning into a “control plane” for enterprise AI.
Keefe Bruyette initiated coverage of Circle Internet (CRCL) with a Market Perform rating and $105 price target. Circle is well positioned to benefit from continued stablecoin adoption through USDC and its regulatory, ecosystem, and network advantages, while its larger payments and financial infrastructure opportunities offer significant but more speculative upside, the firm tells investors in a research note.
RBC Capital initiated coverage of Shake Shack (SHAK) with an Outperform rating and $89 price target. The firm believes the company is “at an inflection point.”
JPMorgan initiated coverage of FedEx Freight (FDXF) with an Overweight rating and $160 price target. The firm sees a “clear path” for FedEx Freight, the largest less-than-truckload carrier in North America, to improve profitability and service as a stand-alone company.
