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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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Benchmark upgraded Pinterest (PINS) to Buy from Hold with a $55 price target. While having "long been challenged" by the company's inconsistent engagement and monetization dynamics, the firm believes "these forces are now in sync." Bernstein upgraded Pinterest to Outperform from Market Perform with a price target of $47, up from $34, following the Q4 report.
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Piper Sandler upgraded Doximity (DOCS) to Overweight from Neutral with a price target of $78, up from $31, after the company reported a large Q3 revenue and adjusted EBITDA beat, with record prescriber engagement and "encouraging bookings momentum." Leerink also upgraded Doximity to Outperform from Market Perform with a price target of $90, up from $60.
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Citi upgraded Hershey (HSY) to Neutral from Sell with a price target of $154, down from $159. The firm thinks Hershey's 2025 guidance "sets a reasonable floor" off which the company is likely to grow in 2026, even if cocoa prices do not decline.
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Wells Fargo upgraded TransDigm (TDG) to Overweight from Equal Weight with a price target of $1,500, up from $1,375. The firm sees a "significant capital deployment opportunity" not currently priced into the stock.
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Citi upgraded Deckers Outdoor (DECK) to Buy from Neutral with an unchanged price target of $215. The firm believes the 24% selloff in shares post the Q3 report is unwarranted, and largely driven by fears of slowing Hoka growth, which it views as overblown.
Top 5 Downgrades:
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MoffettNathanson downgraded Roblox (RBLX) to Sell from Neutral with a $34 price target, citing concerns about potential headline risks, saturation in the U.S., and some "ill-conceived notions" about the total addressable market and the advertising opportunity.
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Citi downgraded Nike (NKE) to Neutral from Buy with a price target of $72, down from $102, following a sell-side event with the company's new CEO Elliott Hill. After discussing the key building blocks and challenges to achieve a turnaround, Citi no longer believes fiscal 2026 will inflect the way it hoped, either on the sales or EBIT margin line.
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Oppenheimer downgraded Cloudflare (NET) to Perform from Outperform. The firm is moving to the sidelines as its discounted cash flow does not currently support a $180-plus price target.
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TD Cowen downgraded Illumina (ILMN) to Hold from Buy with a price target of $140, down from $177. Accelerating high throughput next generation sequencing consumable growth is key to Illumina's revenue growth and the stock's multiple, and the 2025 outlook is "disappointing," the firm says.
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DA Davidson downgraded Elf Beauty (ELF) to Neutral from Buy with a price target of $80, down from $170, following the earnings report. The firm cites uncertainty over how long the company's sales slowdown will last for the downgrade.