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:
Raymond James upgraded Alphabet (GOOGL) to Strong Buy from Outperform with a price target of $400, up from $315. The firm’s updated bottom-up analysis of Google Cloud Platform and Search drives a material upward revision to 2026-2027 estimates, with 2027 revenue now at the high end of the Street and supporting the upgrade.
BNP Paribas upgraded Texas Instruments (TXN) to Neutral from Underperform with a $190 price target, citing the industrial restocking that is now underway.
Stifel upgraded Datadog (DDOG) to Buy from Hold with a price target of $160, down from $205. Recent channel checks indicate the company will post “another larger than typical” quarterly beat in Q4, driven by accelerating core growth and continued strong gains, the firm tells investors in a research note.
TD Cowen upgraded Capri Holdings (CPRI) to Buy from Hold with a price target of $32, up from $26. A sharper price point strategy, combined with desirable trend-right styles, should drive substantial operating margin expansion, the firm tells investors.
Citi upgraded Enphase Energy (ENPH) to Neutral from Sell with a price target of $37, up from $31. The firm sees limited downside risk in the shares.
Top 5 Downgrades:
KeyBanc downgraded Crocs (CROX) to Sector Weight from Overweight without a price target. The company’s U.S. demand remains challenged, the firm says, adding it sees limited visibility for Crocs given ongoing wholesale caution, tariff headwinds, and continued pressure at Heydude as the channel cleanup continues.
Evercore ISI downgraded Hyatt (H) to In Line from Outperform with a price target of $175, up from $170. This is “not a macro call” as the firm expects industry RevPAR to begin to improve sequentially in Q2, but over the last year Hyatt shares have rerated and the risk/reward “feels more balanced at current levels” with catalysts now realized.
Piper Sandler downgraded Zoetis (ZTS) to Neutral from Overweight with a price target of $135, down from $190. The firm continues to like Zoetis’ portfolio over the long term, but is not comfortable with estimates over the next couple of years until it sees some of the company’s innovation hitting the market.
Jefferies downgraded Chemed (CHE) to Hold from Buy with a price target of $475, down from $550. The firm is “incrementally negative” on the company’s Roto Rooter business given persistent margin headwinds, limited visibility into improvement, and its view that a path to normalized growth in 2026 appears unlikely.
Deutsche Bank downgraded Qiagen (QGEN) to Hold from Buy with a price target of $54, up from $52. The firm says the shares have rallied on renewed takeover headlines, and are now fairly valued.
