The most talked about and market moving research calls around Wall Street are now in one place. Here are today’s research calls that investors need to know.
Top 5 Upgrades:
Bernstein upgraded Ormat Technologies (ORA) to Market Perform from Underperform with an unchanged price target of $112. The firm views the stock’s current valuation as fair.
Morgan Stanley upgraded Shell (SHEL) to Overweight from Equal Weight with a price target of $101.30, up from $81.60. Concerns over the company’s long-term resource longevity have weighed on the shares, but this is already partially addressed, the firm tells investors in a research note.
Barclays upgraded W.P. Carey (WPC) to Equal Weight from Underweight with an unchanged price target of $80. The firm is making a relative valuation call with the upgrade.
Baird upgraded Sonida Senior Living (SNDA) to Outperform from Neutral with a price target of $43, up from $37. The company is well positioned to benefit from the “highly favorable” senior housing operating environment, the firm says.
Piper Sandler upgraded Simmons First National (SFNC) to Overweight from Neutral with a price target of $27.50, up from $26. The company last disclosed the planned closure of 26 Simmons Bank branches across six states, which Piper says pushes its 2027 earnings estimates for Simmons noticeably higher
Top 5 Downgrades:
Canaccord downgraded UiPath (PATH) to Hold from Buy with a price target of $17, up from $15. The firm cites the stock’s recent rally and UiPath’s “competitive environment that’s only getting more fluid” for the downgrade.
Craig-Hallum downgraded Ambarella (AMBA) to Hold from Buy with a price target of $70, down from $95. The firm notes the company’s report and guidance were essentially in-line, largely as expected, but DRAM pricing/supply relative lack of visibility into growth drivers from new product initiatives take Craig-Hallum to a neutral stance on the stock.
StoneX downgraded Cal-Maine Foods (CALM) to Hold from Buy and removed the firm’s prior price target. While the firm still believes the egg market is at a cyclical trough, it increasingly believes Cal-Maine’s earnings trough “may be shifting to the right as feed costs appear to be durably on the rise,” the firm tells investors.
Baird downgraded Duluth Holdings (DLTH) to Neutral from Outperform with an unchanged price target of $5. Baird is not sure if the company’s products and marketing can drive an inflection back to flat or positive sales in upcoming quarters.
UBS downgraded HASI (HASI) to Neutral from Buy with a price target of $44, down from $51. The firm cites valuation concerns following the stock’s outperformance year-to-date, limited near-term earnings catalysts, and rising interest rates for the downgrade.
Top 5 Initiations:
Canaccord initiated coverage of Belite Bio (BLTE) with a Buy rating and $303 price target. The firm sees drivers for additional share upside over the near and longer term despite the rally since the initial public offering.
Stephens resumed coverage of Paychex (PAYX) with an Equal Weight rating and $132 price target. Better revenue growth is needed for the shares to move higher, and this isn’t visible yet, the firm tells investors in a research note.
StoneX initiated coverage of PulteGroup (PHM) with a Buy rating and $148 price target. The firm recognizes the industry is facing significant economic headwinds, but believes that the home builder group is nearing an inflection point and that the more efficient builders, like PulteGroup, will be among the first to rebound.
StoneX initiated coverage of Lennar (LEN) with a Hold rating and no price target. Lennar has seen sales and profit deterioration over the past several years as volatile interest rates and reduced overall home affordability weigh on homebuyers and Return on Equity for Lennar is lagging the group “significantly,” the firm tells investors.
Citi initiated coverage of Dianthus (DNTH) with a Buy rating and $156 price target. The company is developing “best-in-class” therapies for severe autoimmune diseases, the firm tells investors in a research note.
