ewsba.se
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, as compiled by The Fly.Top 5 Upgrades:
Argus upgraded Chipotle (CMG) to Buy from Hold with a $40 price target. The firm believes that the company's cautious guidance will likely be surpassed as comparable sales accelerate throughout the remainder of 2026.
BofA upgraded Ulta Beauty (ULTA) to Buy from Neutral with a $685 price target. Guidance for only modest leverage in FY26 has sent the stock 26% off its 52-week high, but the pullback has "brought elevated investor expectations down to earth" and creates an "opportunity to invest in a high-quality compounder at a discount to peers," the firm tells investors.
Stephens upgraded Cullen/Frost (CFR) to Overweight from Equal Weight with an unchanged price target of $164. The firm, which believes benefits of its organic expansion strategy will accelerate and will incrementally contribute to the company's profitability and growth, also senses management's guidance "remains conservative," the firm tells investors.
JPMorgan upgraded Cogent (CCOI) to Overweight from Neutral with a price target of $22, down from $23. The firm cites valuation for the upgrade following the share pullback on Monday.
Raymond James upgraded Devon Energy (DVN) to Strong Buy from Outperform with a price target of $72, up from $62. With the Coterra Energy merger closing, Devon has "multiple options" to close its valuation gap to peers, the firm tells investors in a research note.
Piper Sandler downgraded Roblox (RBLX) to Neutral from Overweight with a price target of $50, down from $100. The firm cites the company's "weak" Q2 outlook for the downgrade, and notes Roblox's age-verification headwinds create "too little" visibility in the near-term.
Piper Sandler downgraded Tractor Supply (TSCO) to Neutral from Overweight with a price target of $36, down from $51. Piper downgrades Tractor following eight years of recommending the shares, as it believes companion animal trends may be in structural decline for Tractor Supply for several years due to rising pet ownership costs.
BofA reinstated Lowe's (LOW) at Neutral, down from the previous Buy rating, with a $260 price target. The firm thinks the risk/reward is balanced at current levels given earnings growth is constrained and lacks a catalyst as housing activity stays subdued.
Northland downgraded Aviat Networks (AVNW) to Market Perform from Outperform with a price target of $20, down from $30. The firm cites the company's lower than expected fiscal Q3 results and lowered fiscal 2026 revenue and EBITDA outlook for the downgrade.
BofA downgraded Inspire Medical (INSP) to Neutral from Buy with a price target of $53, down from $120. While the firm still believes in Inspire's product, acknowledges it has good gross margins, and sees strategic value, BofA argues that the path back to growth "just keeps getting tougher to underwrite each quarter."
BofA reinstated coverage of Home Depot (HD) with a Buy rating and $374 price target, calling it the firm's preferred stock within the home improvement sector. The firm thinks HD's comparable sales growth will outperform, driven by higher Pro penetration, and expects traffic trends will hold up better than peers.
Seaport Research initiated coverage of Lam Research (LRCX) with a Buy rating and $300 price target as part of a broader research note, launching coverage of the wafer fabrication equipment - WFE - industry. The firm believes Lam Research stands to benefit from the current cycle, with particular leverage to the memory segment.
Seaport Research initiated coverage of Applied Materials (AMAT) with a Buy rating and $500 price target. The firm believes the company is the best positioned of the global WFE suppliers, noting that while they do not have ASML's (ASML) monopoly in EUV lithography, they do have offerings in almost every other line of tools covering - deposition, etch, implant, CMP, cleaning and more.
Seaport Research initiated coverage of ACM Research (ACMR) with a Buy rating and $75 price target. Demand for WFE tools is surging in China today, and with 90% of its products sold there, ACM is well positioned to pick up share and use those profits to fund growth of its platform and their export ambitions, the firm added.
UBS initiated coverage of Ultra Clean (UCTT) with a Buy rating and $130 price target. UBS views Ultra as a direct beneficiary of an AI-fueled wafer fab equipment "supercycle" it expects to persist for several years.