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:
Rosenblatt upgraded Arista Networks (ANET) to Buy from Neutral with a price target of $180, up from $165, based on increased confidence in the XPO strategy announced at OFC and better understanding of the sizing of the large front-end wins with Google (GOOGL) and Anthropic.
Barrington upgraded FuboTV (FUBO) to Outperform from Market Perform with a $16 price target. The company’s updated financial outlook calls for EBITDA of $80M-$100M for fiscal 2026, improving to $300M in fiscal 2028, the firm tells investors in a research note.
Citi upgraded Wingstop (WING) to Buy from Neutral with a price target of $230, down from $286. Citi does not see an “immediate solution” for a same-store-sales rebound at Wingstop, but easing compares and the company’s “self-help” actions could bring a rebound in the second half of 2026.
Citizens upgraded Rocket Lab (RKLB) to Outperform from Market Perform with an $85 price target. The company’s launch, defense space systems, and “clearer path toward higher-value” space services creates a risk/reward profile that is “meaningfully in Rocket Lab’s favor,” the firm tells investors in a research note.
Jefferies upgraded MercadoLibre (MELI) to Buy from Hold with a price target of $2,600, down from $2,800. Earnings downgrades driven by margin compression have driven valuations to “historical absolute and relative lows,” but higher investment is paying off through stronger revenue drivers, the firm tells investors.
Top 5 Downgrades:
Morgan Stanley downgraded Arm (ARM) to Equal Weight from Overweight with a price target of $150, up from $135.While Arm’s strategic positioning and early design delivery “have been exemplary,” its commercial ramp will take time, the firm tells investors in a research note.
Scotiabank downgraded Equinix (EQIX) to Sector Perform from Outperform with a price target of $1,050, up from $997. The firm cites valuation for the downgrade following the recent rally.
Citizens downgraded Wix.com (WIX) to Market Perform from Outperform without a price target. The company’s Dutch auction that retired 29.7% of its shares outstanding “meaningfully reduced” its cash position, the firm tells investors in a research note.
UBS downgraded Western Alliance (WAL) to Neutral from Buy with a price target of $75, down from $106, after transfer in analyst coverage. The firm sees “no reason to seek out risk in a group already fraught with concern.”
TD Cowen downgraded Soleno Therapeutics (SLNO) to Hold from Buy with a price target of $53, down from $85, after Neurocrine (NBIX) announced a deal to acquire the company for $2.9B or $53 per share in cash. Stifel, Oppenheimer and Wolfe Research also downgraded the stock to Neutral-equivalent ratings.
