Wall Street’s top analyst calls

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: 

• Roth Capital upgraded Roblox (RBLX) to Buy from Neutral with a price target of $84, up from $78. The firm is more positive on the shares due to Roblox’s better than expected 2026 bookings guidance and over 20% bookings growth outlook annually over the next several years.

• DA Davidson upgraded Oracle (ORCL) to Buy from Neutral with a price target of $180. The firm believes that a revamped OpenAI will return to its position as Google’s (GOOGL) top challenger and with a fresh stack of capital be able to live up to its obligations this year, including to Oracle, which it sees removing the biggest concern from Oracle.

• Wolfe Research upgraded Robinhood (HOOD) to Outperform from Peer Perform with a $125 price target. Shares are down 27% year-to-date, notes the firm, which sees the risk/reward as more attractive following the pullback.

• Citizens upgraded SoFi Technologies (SOFI) to Outperform from Market Perform with a $30 price target. The firm believes SoFi’s selloff is less about near-term macro fear and more about “style factor compression and technicals, creating an opportunity” to own the stock.

• Needham upgraded Medtronic (MDT) to Buy from Hold with a $121 price target. The firm says the company is in the early stages of several major product launches in multi-billion-dollar markets.

Top 5 Downgrades:

• Melius Research downgraded Oracle (ORCL) to Hold from Buy with a $160 price target. While the firm says it admires Larry Ellison for “going for it here,” it adds that it may just be a tough slog as debt and equity will be an overhang for some time as it questions “What should a stock sell for with no free cash flow until the 2030s?” Oracle should be valued “more akin to an infrastructure company vs. a software company,” the analyst added.

• Melius also downgraded Microsoft (MSFT) to Hold from Buy with a $430 price target. Microsoft’s 365 business faces threats from AI, meaning it needs to increase its capex markedly to keep pace with Google (GOOGL) and Amazon (AMZN), so free cash flow may take another hit, the analyst tells investors. If Microsoft doesn’t increase spending now, it reflects either an execution issue or a need to manage earnings, and “neither is good,” the analyst added. Additionally, the analyst argues that Microsoft shares look “very expensive” on the firm’s new free cash flow estimates.

• Baird downgraded Zions Bancorp (ZION) to Neutral from Outperform with an unchanged price target of $65. The firm sees a balanced risk/reward at current share levels.

• UBS downgraded Corteva (CTVA) to Neutral from Buy with a price target of $80, down from $81. With the stock recovering near the price target, Corteva’s risk/reward is more balanced, the firm tells investors in a research note.

• Mizuho downgraded Westlake (WLK) to Neutral from Outperform with an unchanged price target of $88. Mizuho has a bearish industry view of Westlake’s vinyls and polyethylene businesses.