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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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Jefferies upgraded Wingstop (WING) to Buy from Hold with an unchanged price target of $270. The shares are oversold with a valuation "now overly discounting" Wingstop's higher unit and EBITDA growth versus peers, the firm tells investors in a research note.
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BMO Capital upgraded Steel Dynamics (STLD) to Outperform from Market Perform with a price target of $145, up from $135. Steel Dynamics is a "best-in-class" domestic U.S. steel producer, with a product portfolio that is "relatively well-positioned" to benefit from expanded Section 232 tariffs, the firm tells investors in a research note.
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Morgan Stanley upgraded KLA Corp. (KLAC) to Overweight from Equal Weight with a price target of $870, up from $748. The firm expects KLA to outgrow the wafer fab equipment in 2025 and 2026 and sees a "rich catalyst path for a re-rating" of the shares.
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Truist upgraded Celsius Holdings (CELH) to Buy from Hold with a price target of $45, up from $35. The market is already "looking past the hiccups" of the legacy business in 2024 and the brand's slowdown in Q1 of 2025, the firm tells investors in a research note
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HSBC upgraded PNC Financial (PNC) to Buy from Hold with a price target of $202, down from $206. The shares are down 19% from their late November 2024 highs, creating an attractive entry point to add exposure to a "high quality banking institution with proven discipline around risk and capital allocation," the firm argues.
Top 5 Downgrades:
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RBC Capital downgraded Sarepta (SRPT) to Sector Perform from Outperform with a price target of $87, down from $161. The firm is "incrementally less bullish" on Elevidys's opportunity following recent physician checks.
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Barclays downgraded Canada Goose (GOOS) to Underweight from Equal Weight with a price target of $8, down from $10. The firm cites the company's' global macro pressure and increasing competitive pressure for the downgrade.
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BMO Capital downgraded U.S. Steel (X) to Market Perform from Outperform with an unchanged price target of $45. The current share price is nearing fair fundamental value, the firm tells investors in a research note.
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Evercore ISI downgraded ChargePoint (CHPT) to In Line from Outperform with a price target of $1, down from $4, following a transfer of analyst coverage. The firm sees more commoditization risk with free cash flow burn for ChargePoint.
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Stephens downgraded Comerica (CMA) to Equal Weight from Overweight with a price target of $64, down from $66. The firm is downgrading shares given the risk to revenue/EPS should the commercial loan demand remain muted, the eventual loss of Direct Express deposits, and limited upside in a sale.