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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 Roku (ROKU) to Hold from Underperform with a price target of $100, up from $55, following the Q4 outperformance. Roku's 25% year-over-year Platform growth was well ahead of its guidance as the company executes on third party integrations and improving fill rates, the firm tells investors in a research note.
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BTIG upgraded Snowflake (SNOW) to Buy from Neutral with a $220 price target. After two-plus years of Snowflake dealing with cloud optimization headwinds, the firm's recent fieldwork is pointing towards an improving demand backdrop in calendar 2025.
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Susquehanna upgraded Lam Research (LRCX) to Positive from Neutral with a price target of $125, up from $75, after Lam yesterday held its first analyst day since early 2020. During the event, the company introduced a calendar 2028 EPS target of $6-$7, while focusing on a free cash flow margin of 30%, the majority of which will be returned to investors in addition to the existing buyback authorization of $9.2B, the firm says.
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Citi upgraded NXP Semiconductors (NXPI) to Buy from Neutral with a price target of $290, up from $210. The firm believes the analog recovery is imminent and that "every analog company will feel it as sales from the analog companies have fallen roughly 30% from the peak."
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Morgan Stanley upgraded SolarEdge (SEDG) to Equal Weight from Underweight with a price target of $18, up from $11. The company's stronger free cash flow generation and clearer strategic direction reduces liquidity concerns, the firm tells investors in a research note.
Top 5 Downgrades:
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Northland downgraded SolarEdge to Underperform from Market Perform with a price target of $15 following quarterly results as the firm argues that SolarEdge is "behind in new products, customer service, and reliability," which will take "a while to repair." BMO Capital also downgraded SolarEdge to Underperform from Market Perform with a price target of $15, up from $13.
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RBC Capital downgraded Celanese (CE) to Sector Perform from Outperform with a price target of $56, down from $84. The company's overexposure to auto end markets has resulted in near-term earnings headwinds from lower builds and bloated inventories throughout the chain, the firm tells investors in a research note.
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Daiwa downgraded Grab Holdings (GRAB) to Outperform from Buy with a price target of $5.20, down from $6. The company's 2025 EBITDA guidance of $440M-$470M was a disappointment to investors, the firm tells investors in a research note.
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Craig-Hallum downgraded Axon (AXON) to Hold from Buy with a $625 price target. The firm a more balanced risk/reward following a powerful rally in shares over the past year with the stock trading at all-time high multiples.
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Barclays downgraded DTE Energy (DTE) to Equal Weight from Overweight with a price target of $135, down from $137. The firm reshuffled its preferences in Michigan utilities following the Q4 earnings, now seeing CMS (CMS) as the preferred way to invest in the state's "premium" regulatory environment.