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Rivian downgraded, Unity upgraded: Wall Street's top analyst calls

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Rivian downgraded, Unity upgraded: Wall Street's top analyst calls
Rivian downgraded, Unity upgraded: Wall Street's top analyst calls

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:

  • Benchmark upgraded Unity (U) to Hold from Sell with no price target as the firm says many of its concerns have "either materialized or now appear to be longer-term potential realizations."

  • Gordon Haskett upgraded Floor & Décor (FND) to Buy from Hold with a $120 price target. While the firm's patience has "been tried at times," the firm thinks after earnings that "there are enough green shoots of demand to get on board."

  • JPMorgan upgraded Grab Holdings (GRAB) to Overweight from Neutral with a $5.60 price target. The stock declined 10% today as the company's FY25 adjusted EBITDA guidance had likely underwhelmed buyside expectations, though with investor expectations anchored to guidance, earnings delivery over the year will likely drive positive revisions in earnings expectations, the firm tells investors in a research note.

  • Wells Fargo upgraded Lumen (LUMN) to Equal Weight from Underweight with an unchanged price target of $5. The firm says the potential for free cash flow accretive and deleveraging sale of Quantum Fiber, coupled with continued private connectivity fabric sales, improves the near-term outlook for Lumen.

  • Lake Street upgraded Kura Sushi (KRUS) to Buy from Hold with an unchanged price target of $103, primarily due to valuation as shares have sold off significantly since a "positive" Q1 report.

Top 5 Downgrades:

  • Cantor Fitzgerald downgraded Rivian Automotive (RIVN) to Neutral from Overweight with a price target of $15, up from $13, following the Q4 report. The firm cites lower vehicle deliveries, fewer electric delivery van deliveries, and worsening macro conditions, including the implementation of incremental tariffs and the likely removal of the $7,500 electric vehicle tax credit, for the downgrade.

  • BofA downgraded Akamai (AKAM) to Neutral from Buy with a price target of $100, down from $125. The firm remains positive on the longer-term story, but sees limited near term catalysts as the company transitions from slower growth areas like web security and legacy compute to high growth areas like API security and Cloud Infrastructure Services, adding that "transitions take time." Piper Sandler and Craig-Hallum also downgraded Akamai to Neutral-equivalent ratings.

  • Wedbush downgraded Jack in the Box (JACK) to Neutral from Outperform with a price target of $40, down from $50. Wedbush no longer foresees positive near-term catalysts.

  • JPMorgan downgraded TrueCar (TRUE) to Neutral from Overweight without a price target following the Q4 report. The company reported a "disappointing" quarter and guidance with a "big cloud" on an ultimate recovery in growth and profitability at a time when the cycle tailwinds from rising inventory on new vehicles are slowing, the firm tells investors in a research note.

  • TD Cowen downgraded Parsons (PSN) to Hold from Buy with a price target of $56, down from $105. The company's sharp 2025 growth deceleration and downward revision bias to guidance reverse the stock's "beat/raise momentum," the firm tells investors in a research note.