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:
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Truist upgraded CoreWeave (CRWV) to Buy from Hold with a price target of $126, down from $131. As more enterprises move toward open models and sovereign AI, the firm believes demand for compute will only increase, benefiting CoreWeave, though shares trade at a significant discount to neoclouds despite the company’s “leadership position.”
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Stifel upgraded DigitalOcean (DOCN) to Buy from Hold with a price target of $160, up from $135. The firm cites valuation for the upgrade with the shares down 30% from recent highs.
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Wells Fargo upgraded Idacorp (IDA) to Equal Weight from Underweight with a price target of $154, up from $121. Wells’ higher estimates indicate the shares are cheaper than it screens.
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Wells Fargo upgraded NorthWestern Energy (NWE) to Equal Weight from Underweight with a price target of $62, up from $54. The pending merger with Black Hills (BKH) has cleared every hurdle except Montana, the firm tells investors in a research note.
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TD Cowen upgraded Genmab (GMAB) to Buy from Hold with a price target of $43, up from $32. The firm is confident that Epkinly, rinatabart sesutecan and petosemtamab will offset Genmab’s $3.6B Darzalex patent cliff.
Top 5 Downgrades:
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Citizens downgraded Pegasystems (PEGA) to Market Perform from Outperform without a price target. The company announced “disappointing” Q2 results, saying “unprecedented changes in the AI market caused clients to delay their purchasing decisions.”
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JPMorgan downgraded Crown Holdings (CCK) to Neutral from Overweight with a price target of $121, up from $107. JPMorgan cites valuation for the downgrade post the World Cup volume benefits.
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Citi downgraded Marsh McLennan (MRSH) to Neutral from Buy with an unchanged price target of $200. The firm cites valuation for the downgrade, seeing a balanced risk/reward at current share levels.
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Jefferies downgraded Amcor (AMCR) to Hold from Buy with a price target of $44.92, down from $51.36. The stock has rebounded from Middle East-related lows as cost concerns have eased, but a sustained multiple re-rating relies on a positive volume inflection, which the firm sees as “unlikely” given ongoing structural challenges, the firm tells investors.
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Raymond James downgraded Roper Technologies (ROP) to Market Perform from Strong Buy after assuming coverage of the name. Roper remains an attractive vertical software company with strong free cash flow and durable customer relationships, though its valuation appears fair and near-term upside may depend on a recovery in merger and acquisition activity, the analyst tells investors in a research note. Peterson also downgraded Trimble (TRMB) to Market Perform after assuming coverage of the stock.
