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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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BofA upgraded Capital One (COF) to Buy from Neutral with a price target of $235, up from $207. The firm thinks that Capital One is well positioned to benefit from the pending Discover (DFS) acquisition, which should unlock near-term synergies and provide meaningful strategic and operational upside longer term.
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BofA upgraded NetApp (NTAP) to Neutral from Underperform with a price target of $128, up from $121. The firm sees opportunity for an increasing total addressable market driven by AI and demand for public cloud and stable gross margins in the 71%-72% range after strong margin growth in FY24.
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Mizuho upgraded Glaukos (GKOS) to Outperform from Neutral with a price target of $200, up from $140. The firm says its "bullish" key opinion leader checks indicated the "disruptive potential" of iDose across the U.S. glaucoma treatment landscape over the next several years.
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Keefe Bruyette upgraded Travelers (TRV) to Outperform from Market Perform with a price target of $286, up from $275. The firm's 2025 reserve review points to sustained releases, which boosts its earnings outlook for Travelers.
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Wells Fargo upgraded Brighthouse Financial (BHF) to Equal Weight from Underweight with a price target of $59, up from $41. The firm cites media reports of a potential sale for the upgrade.
Top 5 Downgrades:
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Morgan Stanley downgraded Workday (WDAY) to Equal Weight from Overweight with a price target of $275, down from $330. The firm says recent investments in distribution have failed to catalyze sales growth at Workday.
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Nomura downgraded Baidu (BIDU) to Neutral from Buy with a price target of $98, down from $104, following the Q4 report. Baidu still has a good chance to win the race in artificial intelligence search, but the potential costs of winning "could be formidable," the firm tells investors in a research note.
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Baird downgraded Qiagen (QGEN) to Neutral from Outperform with a price target of $42, down from $52. The firm has concerns about the future of National Institutes of Health funding, particularly after surveying academic researchers last week.
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Baird downgraded Bio-Techne (TECH) to Neutral from Outperform with a price target of $68, down from $88. While the stock has pulled back significantly since the Trump inauguration, Baird has "trouble seeing what gets sentiment working again absent some sort of resolution."
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DA Davidson downgraded Valmont (VMI) to Neutral from Buy with an unchanged price target of $380 following the Q4 report. The firm trimmed estimates on the 2025 guidance and says that with a strong rebound in the stock recently along with lingering uncertainty around a broader rebound in agriculture, it sees a more balanced risk/reward profile for Valmont.