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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 Expedia (EXPE) to Buy from Neutral with a price target of $221, up from $187, citing RevPAR and BofA aggregated credit and debit card data that show early signs of improving trends for U.S. travel as well as easy comps in 2025 and "achievable" Street estimates for 10% EBITDA growth in FY25.
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Stephens upgraded Fiserv (FI) to Overweight from Equal Weight with a price target of $255, up from $220. The firm's constructive view is based on the expectation of mid-high teens EPS growth in 2025/26, supported by high revenue visibility, operating leverage and "a track record of consistency," the firm tells investors.
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KeyBanc upgraded Bill (BILL) to Overweight from Sector Weight with a $115 price target. The firm is "hopping back on the BILL train," citing the company's execution and its belief competition from Intuit (INTU) has had little impact on the company's near-term results.
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Citi upgraded Ollie's Bargain Outlet (OLLI) to Buy from Sell with a price target of $133, up from $64, following a transfer of coverage. Ollie's is "well positioned to win in the uncertain retail landscape," the firm tells investors in a research note.
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KeyBanc upgraded Q2 Holdings (QTWO) to Overweight from Sector Weight with a $126 price target. The firm cites the company's durable subscription revenue growth and potential for more bank mergers for the upgrade.
Top 5 Downgrades:
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Stifel downgraded Electronic Arts (EA) to Hold from Buy with an unchanged $167 price target. The firm remains positive on the stock longer term given its fundamental outlook for the company, but it is reducing its net booking estimates following its "review of game model."
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Baird downgraded Rivian Automotive (RIVN) to Neutral from Outperform with a price target of $16, down from $18. The firm sees the landscape for both electric vehicles and renewables as more challenging in the near future due to uncertainty regarding the Inflation Reduction Act and growth in 2025.
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Argus downgraded Beyond (BYND) to Sell from Hold, also suspending the firm's coverage of the stock. The company's recent Q3 results saw a third earnings miss in the last reported four quarters, its financial strength is "low," and its cash balance is dwindling, the firm says.
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Argus downgraded Moderna (MRNA) to Hold from Buy without a price target. The firm sees limited upside for the stock over the next 12 months as the company's COVID vaccine sales have fallen with the pandemic shifting to a new phase.
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JPMorgan downgraded Match Group (MTCH) to Neutral from Overweight with a price target of $33, down from $40. Global online dating spend remained stagnant in 2024, and JPMorgan expects "muted growth" to persist in 2025.