Here is a summary of the most closely watched research ratings from Wall Street that can influence market movements. The following are today's key rating changes compiled by The Fly that investors should note.
Top Five Upgrades
Arete upgraded Snap (SNAP) from Neutral to Buy with a price target of $7.30. The firm stated in its research report that the company's revenue growth is shifting from reliance on an "insufficiently scaled" advertising business towards higher-margin recurring subscription revenue.
Oppenheimer upgraded Unity (U) from Perform to Outperform with a price target of $38. The firm believes the recent sell-off, driven by concerns that "world models" from companies like Google could replace game engines, is fundamentally mistaken, overlooking Unity's unique architectural role in the development process.
Gordon Haskett upgraded Booking Holdings (BKNG) from Hold to Buy with a price target of $5,440. The firm believes investors have overreacted to concerns about competitive threats from AI, underestimating Booking's operational advantages and defensive moat.
Daiwa Securities upgraded Palantir (PLTR) from Neutral to Buy, lowering the price target from $200 to $180. Daiwa commented that the "earnings release left a positive impression."
Raymond James upgraded Take-Two (TTWO) from Outperform to Strong Buy, maintaining the price target of $285. The firm views the recent sell-off as excessive, believing the stock pullback offers a more attractive risk-reward profile.
Top Five Downgrades
HSBC downgraded Estée Lauder (EL) from Buy to Hold, raising the price target from $105 to $106. The bank indicated that the quarter's "modest" upward revision to organic revenue fell short of prior market expectations, disappointing investors.
Citigroup downgraded Under Armour Class A (UAA) from Neutral to Sell, maintaining the price target of $6.20. The bank stated that the company's turnaround in the North American market faces multiple pressures in fiscal year 2026.
Raymond James downgraded Wingstop (WING) from Strong Buy to Outperform, maintaining the price target of $325. The stock was also downgraded by TD Cowen earlier today. Raymond James expressed caution regarding its near-term sales trends.
Truist downgraded Texas Roadhouse (TXRH) from Buy to Hold, lowering the price target from $206 to $188. The firm believes beef price inflation will persist at least until 2027, which will constrain valuation expansion and pressure margins and earnings expectations.
Loop Capital downgraded Monday.com (MNDY) from Buy to Hold, slashing the price target from $195 to $80. The firm described the quarterly results as "okay but not great," citing slowing growth in the high-end market and slower-than-expected adoption of new products. Separately, Baird also downgraded Monday.com from Outperform to Neutral, reducing its price target from $175 to $90.
Top Five Initiations/Resumptions of Coverage
Morgan Stanley resumed coverage on Qualcomm (QCOM) with an Underweight rating and a price target of $132. The bank stated that the company's earnings potential has "peaked," and a memory shortage could create a "difficult" environment for the Android supply chain in the second half of 2026.
Barclays resumed coverage on Becton Dickinson (BDX) with an Overweight rating and a price target of $202. This follows the company's sale of its Life Sciences Bioprocess unit to Waters.
Keefe Bruyette initiated coverage on Dave (DAVE) with an Outperform rating and a price target of $250. The firm believes its core cash advance product, ExtraCash, can support 20% revenue growth in the medium term.
Roth Capital initiated coverage on Orion Group (ORN) with a Buy rating and a price target of $17. The firm believes the company's maritime segment will benefit from long-term, multi-billion dollar spending related to U.S. Navy defense projects and port infrastructure renovations.
Stephens initiated coverage on Somnigroup (SGI) with a Neutral rating and a price target of $89. The firm noted that Somnigroup is the world's largest bedding company.
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