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 should know, as compiled by The Fly.
Top 5 improvements:
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Jefferies improved Etsy (ETSY) to hold from underperform with a price target of $55, up from $45. The firm cited improved second-half growth and a more balanced risk-reward for the ETF’s upgrade stocks.
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Needham has improved. KLA Corp. (KLAC) lowered its 2025 wafer factory estimate to $100B from $110B and lowered its 2026 estimate to $100B. Needham sees 2025 as the peak WFE, the current semiconductor upcycle will “heat up” and the next downturn could hit in the second half of 2026.
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Morgan Stanley has improved. Elf beauty ( ELF ) to overweight with an equal-weight price target of $153, up from $139. The stock’s valuation looks compelling given Elf’s “excessive” long-term growth potential after the stock’s sharp decline in the second half of 2024, the company told investors in a research note.
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Needham has improved. Instacart (CART) with a $56 price target to buy from Hud and added the shares to the company’s guilty plea list. In the year The stronger-than-expected results in 2024 are overblown and fears over competition and the overall tangible market movement, likely led by Instacart’s leading customer grocery experience, will continue to improve, the company told investors in a research note.
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Evercore ISI improved. Caterpillar (CAT) to in line with nonperform with a price of $365. The firm says it’s tough to be a construction bull, but stocks are falling as interest rates continue to climb and investor optimism is now “very low.”
Top 5 Downfalls:
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Jefferies declined Pinterest ( PINS ) from Buy to Hold with a $32 price target, down from $40. The firm downplayed Pinterest’s slower performance+ rollout and expected “more muted” ad searches.
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JPMorgan declined Star brands (STZ) to neutral with an overweight price target of $203, down from $262, following the loss of fiscal Q3. While global trends, including a premium on the legal drinking age and rapid growth in Hispanic consumers, benefit the company’s portfolio, this is offset by near-term pressure on low-income and Hispanic consumers and an increase in alcohol consumption among younger consumers. Weight loss drugs and tariff risk, the firm tells investors in a research note. Jefferies downgraded Astrology Brands from acquisition to holding.
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TD Cowen declined STMicroelectronics (STM) downgraded from Buy to Hold with a $25 price target from $32. STMicroelectronics is a leader in power semiconductors and its manufacturing network has long-term benefits, but near-term revenue and margins are likely to remain muted, the company told investors in a research note.
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Morgan Stanley has declined LiveRamp (RAMP) from overweight to equal weight with an unchanged price target of $35. The company sees limited incentives for the company to accelerate growth and investor sentiment and sees better risk/rewards elsewhere in coverage.
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Truist reduced Thank you (ACCD) to hold or buy fell to $7.03 from $7.50, after Transcarnet announced a definitive agreement to acquire the company for $7.03 in cash.
