In This Article:
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 Upgrades:
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Exane BNP Paribas upgraded Cisco (CSCO) to Outperform from Neutral with a price target of $72, up from $57. The firm sees "several catalysts ahead" that can drive Cicso's revenue and earnings growth ahead of expectations.
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Mizuho upgraded Autodesk (ADSK) to Outperform from Neutral with a price target of $400, up from $280. With the "smooth rollout" of the new transaction model, Autodesk can achieve $10B in revenue by fiscal 2029, accelerating its five-year annual growth rate to 13% from 11% and delivering $15 in free cash flow per share alongside 400 basis points of margin expansion, despite transition-related financial impacts, the firm tells investors in a research note.
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Northland upgraded Astera Labs (ALAB) to Outperform from Market Perform with a $120 price target after shares in the company fell 28% on Monday as Chinese artificial-intelligence startup DeepSeek's low-cost approach reignited concerns that big U.S. companies have poured too much money into developing AI. However, the firm does not expect Amazon (AMZN), Alphabet (GOOGL), Meta (META) and Microsoft (MSFT) to cut capital expenditure forecasts when they report earnings in the comings days, which the firm believes should act as a catalyst for Astera.
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JPMorgan upgraded Ciena (CIEN) to Overweight from Neutral with a price target of $88, up from $84. Concerns driven by the revelations around the capital efficiency of DeepSeek's artificial intelligence models create an "interesting entry point" into shares of Ciena, the firm tells investors in a research note.
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TD Cowen upgraded Roper Technologies (ROP) to Buy from Hold with a price target of $615, up from $535. Given macroeconomic and policy uncertainty, Roper's 85% U.S. exposure and "negligible" tariff risk becomes increasingly attractive, potentially to both industrial and tech investors, the firm tells investors in a research note.
Top Downgrades:
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Melius Research downgraded AMD (AMD) to Hold from Buy with a price target of $129, down from $160. The downgrade is not due to DeepSeek, rather a more cautious on x86 server and PC as well over the long-term for AMD, the firm tells investors in a research note.
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Melius Research downgraded Vertiv Holdings (VRT), Eaton (ETN), Johnson Controls (JCI) and Trane (TT), all to Hold from Buy, with respective price targets of $125, $373, $95 and $398. While "not concerned" about earnings results for any of the four in 2025, "or even '26 for that matter," the firm is concerned about the multiple that investors will be willing to apply to those results as the emergence of DeepSeek raises the risk that this AI capex "arms race has peaked."
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Maxim downgraded Logility (LGTY) to Hold from Buy after Aptean and partners agreed to acquire Logility for $14.30 per share in an all-cash transaction. The company's board of directors unanimously approved the definitive agreement, and recommended shareholders vote in favor of the transaction, following an auction process that began in late-Summer 2024.