Here Are Thursday’s Biggest Calls on Wall Street
BMO Initiates Astera Labs as Outperform
BMO said it’s the “leader in AI infrastructure.”
“We’re initiating coverage on Astera Labs (ALAB) at Outperform with a $375 target price.”
KeyBanc Upgrades MYR Group to Overweight From Sector Weight
KeyBanc said the electrical company’s valuation is too attractive to ignore.
“We are upgrading MYRG t o OW with a $361 PT at 10x ’28E, on its lack of DC concentration and now compelling valuation.”
Seaport Upgrades Materion to Buy From Neutral
Seaport said buy the dip in the aerospace company.
“MTRN has impressive growth characteristics, with exposure to megatrends (semiconductor complexity, new energy, advanced defense systems, vehicle electrification, commercialization of space) that are driving application growth and opportunities to innovate.”
Baird Upgrades Lyntris to Outperform From Neutral
Baird upgraded the stock following earnings.
“We are upgrading LYNX t o an Outperform rating and $18 price target based on 15x our 2027 EBITDA estimate.”
Morgan Stanley Upgrades Acadian to Overweight From Equal Weight
Morgan Stanley said the asset manager has plenty of upside.
“Upgrading AAMI to OW, a ~$3b market-cap pure-play systematic manager with ~ $240b of AUM and direct exposure to a broadening category.”
Morgan Stanley Downgrades Cisco to Equal Weight From Overweight
The firm said the bar is “higher” for additional upside.
“We continue to see a multi-year trajectory for DD growth, largely through cloud growth, helping CSCO sustain a higher multiple than historical. However, cautious of degree of pull forward ahead of pricing increases and margin profile of cloud business, causing us to step to the sidelines for now.”
Deutsche Bank Upgrades JetBlue and Frontier to Buy From Hold
Deutsche said it sees an “improving backdrop.”
“We are upgrading our ratings on Frontier (ULCC) and JetBlue (JBLU) from Hold to Buy based on our view that the near-term backdrop for airline shares has improved markedly over the past month.”
Morgan Stanley Upgrades Cinemark to Overweight From Equal Weight
Morgan Stanley said the movie theater company is firing on all cylinders.
“CNK offers a compelling value play: resilient moviegoing, a strong 2027 slate and potential capital returns to drive box-office growth and a re-rating from depressed ~7x fwd. EBITDA.”
Canaccord Upgrades Joby to Buy From Hold
Canaccord said the eVTOL stock is “attractive.”
“Joby continues to make notable progress toward commercialization.”
HSBC Upgrades LabCorp to Buy From Hold
HSBC said LabCorp has margin upside.
“Upgrade to Buy (from Hold) and our lift TP to USD410 (from USD330 on higher estimates.”
Loop Downgrades Dollar Tree to Hold From Buy
Loop downgraded the stock mainly on valuation.
“We are downgrading the shares of Dollar Tree to a Hold from a Buy rating while maintaining our $140 price target.”
Loop Upgrades Procore Technologies to Buy From Hold
Loop said it’s bullish on the company’s new leadership.
“We are upgrading Procore to Buy from Hold with a $93 price target. The upgrade reflects our view that the relatively new CEO and accompanying leadership changes are improving execution and accelerating revenue growth faster than we initially anticipated.”
Truist Downgrades Nike to Sell From Hold
Truist said it sees too many negative catalysts for Nike.
“With numerous issues still at-play including (1) more retro Jordan product launches sitting on shelves/ selling below retail, (2) limited visibility on where/when China bottoms, (3) tough comparisons and (4) an incrementally tougher outlook in Running (where they have had more success), we reit our $29 PT and are downgrading shares to Sell.”
Citi Initiates ATI as Buy
Citi said it likes the transformation for the specialty materials company.
“We are unfazed by recent volatility in aerospace and believe it has created unique opportunities to buy into high-quality, multi-year growth stories across our existing coverage - and beyond. As such, we initiate on ATI with a Buy rating and a $229 price target, representing +28% upside.”
Compass Point Upgrades Circle to Buy From Hold
Compass Point said it sees “tactical upside.”
“We’re upgrading CRCL to Buy (from Neutral) as a tactical trade into YE2026 and 4Q26 results. While we remain cautious toward the speed of USDC’s mainstream adoption, we view CRCL a s the best large-cap proxy for crypto exposure.”
Baird Upgrades Edwards Lifesciences to Outperform From Neutral
Baird said it sees several tailwinds ahead.
“EW i s the leader in the WW [worldwide] transcatheter aortic valve replacement (TAVR) market, offering solutions to patients with severe aortic stenosis who are at a risk for surgery.”
Raymond James Reiterates Nvidia as Strong Buy
The firm said Nvidia is also a “logical buyer” following Marvell’s deal for Lumentum.
“It would not be surprising if other bidders emerged, given Lumentum’s strategic value and differentiated optical technologies. NVIDIA has been suggested as a potentially logical buyer, particularly given its networking and CPO [co packaged optics] activities, with Lumentum’s OCS business potentially more valuable to NVIDIA than Marvell.”
Evercore ISI Reiterates Arm as Outperform
Evercore said the company is a top idea following earnings.
“While we expect continued late cycle derate we continue to view ARM as a key beneficiary of our ‘CPU Renaissance’ thesis. Our price target is $372, based on P/E ratio of 23x our 2030 base case EPS of $21.55, discounted back three years.”
Bank of America Upgrades Trex to Buy From Underperform
The firm said growth is “on deck” for the residential railing and decking company.
“We upgrade TREX t o Buy (from Underperform) and raise our PO to $65 (from $46), now 17.5x 2027E EV/EBITDA (from 13x). 3Q adj. EBITDA of $100M beat our/Street $91M on a 15% revenue beat, and TREX raised FY26 guidance.”
Raymond James Reiterates SpaceX as Strong Buy
Raymond James said it likes the company’s partnership with Qualcomm.
“For SPCX, we view the Qualcomm agreement as another de-risking event for SpaceX’s ambition to establish a differentiated fourth nationwide wireless network, moving the strategy beyond spectrum accumulation and satellite deployment toward the physical infrastructure required for commercialization.”
William Blair Upgrades First Solar to Outperform From Market Perform
William Blair said the solar stock is best positioned following elections on Tuesday.
“We are upgrading First Solar to Outperform, from Market Perform, following the midterm elections.”
Comments