Wall Street’s top analyst calls

Wall Street’s top analyst calls
Post Author webadmin
2025-11-06

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:

  • HSBC upgraded Caterpillar (CAT) to Buy from Hold with a price target of $660, up from $405. The company’s Q3 results beat on a volume increase and its order growth accelerated to 25% year-over-year on strong power generation, the firm tells investors in a research note.

  • Argus upgraded Super Micro (SMCI) to Buy from Hold with a $64 price target. The company’s missteps on revenue delivery and margin shortfalls are fully reflected in share prices, while the potential for strong forward-momentum is being overlooked, the firm tells investors in a research note.

  • Stifel upgraded Biogen (BIIB) to Buy from Hold with a price target of $202, up from $144, following the Q3 report. The firm believes the stock’s risk/reward is shifting favorably with clinical catalysts ahead.

  • Stifel upgraded Scotts Miracle-Gro (SMG) to Buy from Hold with an unchanged price target of $70. The firm is surprised by the “muted” share reaction post the company’s fiscal Q4 report given the pressure ahead of earnings.

  • RBC Capital upgraded UMB Financial (UMBF) to Outperform from Sector Perform with an unchanged price target of $128 after meeting with management. The overall message was positive as management sees an “extended runway” for growth, accelerating contributions from Heartland, the firm tells investors in a research note.

Top 5 Downgrades:

  • Piper Sandler downgraded Elf Beauty (ELF) to Neutral from Overweight with a price target of $100, down from $150, following the fiscal Q2 report. Strong momentum at Rhode is continuing, but the 3%-4% sales growth implied for the core business in Elf’s fiscal 2026 outlook is “disappointing and not deserving of a premium multiple,” the firm says.

  • Northland downgraded Coherent (COHR) to Market Perform from Outperform with a price target of $125, up from $105. Like peers Fabrinet (FN) and Lumentum (LITE), Coherent guided mid-range fiscal Q2 revenue ahead of the firm’s estimates, but guided to a “much wider” relative range than peers that includes sequential declines at the low end and 5% comparable sequential growth, versus 10%-20% at peers.

  • JPMorgan downgraded CarMax (KMX) to Underweight from Neutral with a price target of $30, down from $50. The company’s preliminary Q3 results show additional market share loss and margin pressure “that is likely to take a while to arrest,” the firm tells investors in a research note. Benchmark and William Blair also downgraded CarMax to Neutral-equivalent ratings.

  • BofA downgraded PTC (PTC) to Neutral from Buy with a price target of $208, down from $235. Initial FY26 constant currency annual recurring revenue growth guidance of 7%-9% year-over-year was below the 9.2% consensus and the firm’s prior 10.4% forecast, the firm noted.

  • Citizens JMP downgraded Duolingo (DUOL) to Market Perform from Outperform without a price target following the earnings report. The firm sees no catalyst ahead for Duolingo to drive user growth. KeyBanc also downgraded the name to Sector Weight.