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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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BofA upgraded American Express (AXP) to Buy from Neutral with a price target of $274, down from $325. The firm thinks the current downtick offers long-term oriented investors "an opportunity to buy a high-quality company at a reasonable valuation."
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Evercore ISI upgraded Verizon (VZ) to Outperform from In Line with a price target of $48, up from $44. Evercore believes Verizon has executed well towards improvements on postpaid subscriber trends at Consumer, showcased continued momentum across Business wireless customers, and is consistently hitting its broadband subscriber targets.
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Goldman Sachs double upgraded L3Harris Technologies (LHX) to Buy from Sell with a price target of $263, up from $198. The company has a "relatively more dynamic business that is agile" to the changing structure and needs of the Department of Defense, the firm tells investors in a research note.
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Goldman Sachs double upgraded HII (HII) to Buy from Sell with a price target of $234, up from $145. The firm expects Navy shipbuilding to be relatively high priority within the defense budget medium-term and for HII to benefit.
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JPMorgan upgraded Cinemark (CNK) to Overweight from Neutral with a price target of $34, up from $30. The firm has "increasing visibility and confidence" on 2026 and 2027 supply growth following CinemaCon.
Top 5 Downgrades:
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Goldman Sachs downgraded Booz Allen (BAH) to Neutral from Buy with a price target of $109, down from $150. The firm says updates from the Department of Government Efficiency have challenged its view on the shares.
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Scotiabank downgraded Chevron (CVX) to Sector Perform from Outperform with a $143 price target, down from $160. The firm thinks Chevron has a higher likelihood of reducing their current buyback run rate from the recent annual pace of about $17.5B to $10.0B in the coming quarters. In addition, Scotiabank downgraded Occidental Petroleum (OXY) to Sector Perform from Outperform with a $40 price target, down from $60, arguing that the company's leveraged position is "more problematic compared to their peers" due to the "untimely acquisition" of CrownRock.
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BNP Paribas Exane downgraded Coty (COTY) to Neutral from Outperform with a $5.65 price target. The firm sees an increasingly unfavorable backdrop for Coty with "lackluster" beauty trends and tariffs.
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RBC Capital downgraded Magna (MGA) to Sector Perform from Outperform with a price target of $32, down from $51. The firm expects the company's 2025 guidance, and its "perma-tariff scenario" could result in an $18 per share value, or 50% lower from current levels.
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Jefferies downgraded Skyward Specialty Insurance (SKWD) to Hold from Buy with a price target of $59, down from $62. The firm cites valuation for the downgrade of Skyward.