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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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MoffettNathanson upgraded Electronic Arts (EA) to Buy from Neutral with a $145 price target. While stating that it was "shocked by last week," the firm wondered if the company's release of preliminary Q3 bookings and cut to FY25 bookings guidance was "either a red card or a yellow card" and is "increasingly of the mind that it might be neither."
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UBS upgraded ResMed (RMD) to Buy from Neutral with a price target of $290, up from $255. The firm thinks consensus is too cautious in the mid-term and believes U.S. device volume growth likely returns to c.8% for fiscal 2025-2029, close to pre-COVID levels, with demand tailwinds from GLP-1s and wearables, even if they're currently difficult to quantify.
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Guggenheim upgraded Enphase Energy (ENPH) to Neutral from Sell and removed the firm's previous $62 price target. Investor expectations for the upcoming fiscal year "appear to be more reasonable" and the firm now views shares as "fairly valued."
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Mizuho upgraded Paylocity (PCTY) to Outperform from Neutral with a price target of $235, up from $200. The firm believes the worst is behind the sector, saying growth is stabilizing, particularly with the labor market remaining resilient and slower rate increases making for easier year-over-year compares.
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Stifel upgraded C.H. Robinson (CHRW) to Buy from Hold with an unchanged price target of $113. The company reported "solid" Q4 results and the sequential profitability improvement against seasonally higher costs is positive within C.H.'s revamped operating model, the firm tells investors in a research note.
Top 5 Downgrades:
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Baird downgraded UPS (UPS) to Neutral from Outperform with a price target of $130, down from $160. The announcement that the company's Amazon (AMZN) volume is dropping 50% by the second half of 2026 "introduces a new multi-year challenge and higher probability the relationship ultimately unwinds altogether," the firm tells investors in a research note.
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BofA downgraded Comcast (CMCSA) to Neutral from Buy with a price target of $38, down from $50, as the firm now forecasts an EBITDA decline in the "reset year" of 2025.
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Piper Sandler downgraded Mondelez (MDLZ) to Neutral from Overweight with a price target of $63, down from $70. The firm cites incremental uncertainty on Mondelez's outlook for the downgrade.
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Piper Sandler downgraded Hershey (HSY) to Underweight from Neutral with a price target of $120, down from $153. The firm believes recently elevated cocoa costs will last longer than initially anticipated, adding incremental pressure on the company's' earnings, especially in 2026.
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Truist downgraded Murphy Oil (MUR) to Hold from Buy with a price target of $31, down from $42. While Murphy Oil has ample offshore and onshore inventory, the upcoming focus on more offshore will require more costs than previously expected, the firm tells investors in a research note.