The latest research calls that are making waves on Wall Street are now consolidated in one place. Check out today’s top research calls that every investor should be aware of, curated by The Fly.
Top 5 Upgrades:
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Morgan Stanley upgraded Fiserv (FI) to Overweight from Equal Weight with a revised price target of $175, up from $154. The firm sees Fiserv as a promising “earnings compounder” with the potential to consistently deliver incremental results and benefit from strong long-term investor backing.
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Baird upgraded Henry Schein (HSIC) to Outperform from Neutral with a new price target of $92, up from $81. Baird believes that Henry Schein is a dependable dental stock with significant growth potential till 2025.
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JPMorgan upgraded Abercrombie & Fitch (ANF) to Overweight from Neutral with an increased price target of $194, up from $167. The firm’s analysis indicates sustained demand for the Abercrombie brand, positive momentum for the Hollister brand, and expanding brand recognition globally.
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Stifel upgraded IFF (IFF) to Buy from Hold with a new price target of $115, up from $95. Stifel believes that IFF’s conservative 2024 guidance underestimates the company’s potential, leading to revised sales and EBITDA estimates for 2024-2025.
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BofA upgraded C.H. Robinson (CHRW) to Buy from Underperform with an upgraded price target of $99, up from $76. The firm anticipates margin improvement in truckload brokerage, enhanced rate dynamics in ocean forwarding, and overall cost efficiency.
Top 5 Downgrades:
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Scotiabank downgraded Crowdstrike (CWRD) to Sector Perform from Outperform with a revised price target of $300, down from $393. Despite recognizing CrowdStrike as a leading software company, Scotiabank is cautious due to recent incidents affecting the company’s reputation. BTIG and Guggenheim also downgraded Crowdstrike.
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Bernstein downgraded American Airlines (AAL) to Market Perform from Outperform with a new price target of $12, down from $18. Bernstein cites current challenges faced by American Airlines as a reason for the downgrade.
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Raymond James double downgraded Estee Lauder (EL) to Market Perform from Strong Buy without a specified price target. The firm highlights slower recovery in key markets and increased competition as factors influencing their decision.
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Morgan Stanley downgraded FIS (FIS) to Equal Weight from Overweight with a revised price target of $79. The firm believes that the stock’s current valuation already reflects anticipated growth factors.
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Goldman Sachs downgraded Lennar (LEN) to Neutral from Buy with a new price target of $174, down from $180. Goldman Sachs predicts lesser upside for Lennar compared to its peers in the homebuilder sector.
Top 5 Initiations:
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Melius Research initiated coverage of both Uber Technologies (UBER) and Lyft (LYFT) with Hold ratings and price targets of $77 and $15, respectively. The firm acknowledges the potential growth in autonomous vehicles but highlights new challenges in the market.
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TD Cowen initiated coverage of Berkshire Hathaway class B shares (BRK.B) with a Hold rating and $465 price target. Despite the company’s strong insurance business, TD Cowen points out recent challenges in other sectors.
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Goldman Sachs initiated coverage of Webtoon (WBTN) with a Buy rating and $62 price target. The firm sees Webtoon as well-positioned in the web-comics market and creator economy. Evercore ISI and Deutsche Bank also initiated coverage with Buy ratings.
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BMO Capital initiated coverage of Driven Brands (DRVN) with a Market Perform rating and $14 price target. The firm notes ongoing challenges in the car wash industry for Driven Brands.
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UBS initiated coverage of EVgo (EVGO) with a Neutral rating and $4 price target. UBS remains cautious on EVgo due to near-term risks, waiting for a better entry point.