The most discussed analyst reports on Wall Street, capable of influencing market trends, are now compiled in one place. Below are the key rating changes curated by The Fly that investors should focus on today.
Among the top five stocks receiving rating upgrades, Wells Fargo upgraded Airbnb (ABNB) from "Underweight" to "Equal Weight," raising its price target from $118 to $128. The firm noted that Airbnb's stock has underperformed for two consecutive years, while the company holds multiple potential positive catalysts—particularly the shortage of hotel room supply and growth opportunities from its paid listing recommendations. Additionally, it is relatively less exposed to AI-related risks, making the current time an opportune moment for investment. Barclays also upgraded Airbnb from "Underweight" to "Equal Weight," increasing its price target from $107 to $120.
Susquehanna upgraded American Airlines (AAL) from "Neutral" to "Positive," raising its price target from $14 to $20. The firm believes the fundamental environment for the airline industry will improve heading into fiscal 2026. Susquehanna also highlighted that American Airlines' revenue enhancement initiatives and network optimization strategy should help the company achieve margin improvements by fiscal 2027.
JPMorgan significantly upgraded Southwest Airlines (LUV) by two notches from "Underweight" to "Overweight," raising its price target from $36 to $60. The firm stated that Southwest Airlines could achieve earnings per share of $5 in 2026, a target deemed "highly achievable and attractive."
Berenberg upgraded CrowdStrike (CRWD) from "Hold" to "Buy," maintaining its price target of $600. The firm cited the stock's recent weakness as making its current valuation attractive, prompting the decision to upgrade.
Bank of America upgraded FedEx (FDX) from "Neutral" to "Buy," setting a price target of $365. The firm believes benefits from accelerated depreciation incentives under the "Build Back Better" agenda will spur increased infrastructure investment—with projected spending in data centers and power supply reaching $1.4 trillion over the next three years. Combined with the tailwind of lower interest rates and potential spillover effects on the housing market, FedEx's demand is expected to receive a boost.
Among the top five stocks receiving rating downgrades, Mizuho Securities downgraded Zillow Group (ZG) from "Outperform" to "Neutral," lowering its price target from $100 to $70. The firm cited increasing uncertainty in the competitive landscape for Zillow's real estate listings distribution business, the variable scope of related litigation, and potential impacts on operations as the primary reasons for the downgrade.
BMO Capital Markets downgraded Adobe (ADBE) from "Outperform" to "Market Perform," reducing its price target from $400 to $375. Although the firm views Adobe's current valuation as "not expensive," it pointed to a lack of positive near-term catalysts and expects the stock to remain range-bound.
Mizuho Securities downgraded Qualcomm (QCOM) from "Outperform" to "Neutral," cutting its price target from $200 to $175. The firm lowered its earnings estimates for Qualcomm, now below consensus expectations, due to anticipated pressure on smartphone chip shipments and revenue from Apple's iPhone-related chip business in 2026.
Baird downgraded GE Vernova (GEV) from "Outperform" to "Neutral," slashing its price target from $816 to $649. The firm indicated that near-term concerns about industry oversupply are likely to outweigh the potential for GE Vernova to exceed earnings expectations.
Goldman Sachs downgraded Mattel (MAT) from "Buy" to "Neutral," maintaining its price target of $21. The firm believes that, at current price levels, the risk-reward profile for Mattel is now balanced.
Among the top five stocks receiving initial coverage ratings, Telsey Advisory Group initiated coverage on Chipotle Mexican Grill (CMG) with an "Outperform" rating and a $50 price target. The firm noted that while consumer spending growth in the restaurant industry has slowed in 2025, a moderate recovery is expected in 2026, buoyed by increased tax refunds for consumers and the benefit of lower interest rates.
Texas Capital Securities initiated coverage on DraftKings (DKNG) with a "Hold" rating and a $39 price target. The firm stated that while valuation pullbacks in online gambling "blue chips" like DraftKings typically present good buying opportunities, the company's highly concentrated business model, combined with recent expansion in the predictive betting market, investor skepticism regarding its betting volume and hold rates, and potential online gambling tax increases in some states, are expected to lead to significant stock price volatility in the near term. The firm added that its rating is "neutral, not negative."
Rothschild - Redburn initiated coverage on Autodesk (ADSK) with a "Buy" rating and a $375 price target. The firm believes Autodesk is highly attractive at its current share price; it projects that the company's platform growth will exceed the industry average by 5.0%-5.5% between 2024 and 2027, above the consensus expectation of 3.5%-4%.
Bank of America initiated coverage on Casey's General Stores (CASY) with a "Buy" rating and a $700 price target. The firm assigned Casey's a target P/E ratio higher than its convenience store peers, justifying the premium valuation due to its focus on high-margin food service and its ability to deliver consistent EBITDA growth.
RBC Capital Markets initiated coverage on Doximity (DOCS) with an "Outperform" rating and a $59 price target. The firm described Doximity as one of the highest-quality companies in the healthcare technology sector, capable of delivering "consistent and stable" double-digit growth while maintaining high profit margins of 50%.
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