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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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New Street upgraded Tesla (TSLA) to Buy from Neutral with a $460 price target. The company's growth in autos should reaccelerate with the launch of lower-cost models, and its gross margins stabilizing as Tesla "reduces costs as fast as prices," the firm tells investors in a research note.
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Benchmark upgraded Lyft (LYFT) to Buy from Hold with a $20 price target. The firm believes Lyft's decision to reduce surge pricing, while sticking with their Price Lock platform expansion, should drive upside to rider metrics and thinks Lyft is "just getting started" with their expansion via partnerships, both on the traditional and autonomous vehicle fronts, with prior partnerships likely to produce near-term upside to metrics.
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Wedbush upgraded Shopify (SHOP) to Outperform from Neutral with a price target of $125, up from $115. The firm is more constructive on shares in the near-term given an improving margin outlook following Q3 results and expectations for strong operating income growth in 2025.
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Barclays upgraded Boeing (BA) to Overweight from Equal Weight with a price target of $210, up from $190. The company has shored up its balance sheet, so it is no longer an overhang, while its free cash flow trajectory is "much more reasonable," the firm says.
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Guggenheim upgraded MongoDB (MDB) to Buy from Neutral with a $300 price target. The firm's most recent channel check indicates that Q4 consumption accelerated from Q3 and assuming stable consumption in FY26 the firm sees Atlas accelerating to 29% growth.
Top 5 Downgrades:
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Guggenheim downgraded Palo Alto Networks (PANW) to Sell from Neutral with a $130 price target. While the firm says it understands investors' confidence that management will do "whatever it takes to succeed as the leading market share vendor in cyber security," it cannot help but consider its overall business performance, field checks that indicate subtle softening in momentum over the last year, and expected Federal IT spending moderation, the firm added.
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Wedbush downgraded Wayfair (W) to Neutral from Outperform with a price target of $44, down from $45. The company's sales have consistently outperformed the market, but there is limited room for a reacceleration due to slowing share gains in 2025 without significant investment, the firm tells investors in a research note.
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Guggenheim downgraded Salesforce (CRM) to Sell from Neutral with a $247 price target. Salesforce has rallied about 30% in the four months since it introduced Agentforce in late August, notes the firm, which does not believe that Salesforce will meaningfully monetize Agentforce unless it acquires several assets that "have been doing, over the past decade, what Agentforce aspires to do."
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Wells Fargo downgraded T-Mobile (TMUS) to Equal Weight from Overweight with a price target of $220, down from $240. With EBITDA and free cash flow growth rates decelerating, and T-Mobile's relative premium well above historical levels, the firm thinks the risk/reward is less favorable looking into 2025.
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Vertical Research downgraded General Dynamics (GD) to Hold from Buy with a price target of $290, down from $352. The company is facing challenges in Marine, Aerospace and Technologies, and even its Combat segment could face sentiment headwinds "if and when" the war in Ukraine concludes, the firm tells investors in a research note.