The latest analyst rating changes from Wall Street's most closely watched and market-moving experts have been compiled. The following are the key analyst rating adjustments investors should focus on today, as summarized by The Fly.
The top five rating upgrades include: Evercore ISI upgraded Shopify (SHOP) from Neutral to Buy, raising its price target from $166 to $175. The firm believes the stock's valuation has become attractive following recent weakness. William Blair upgraded Palantir (PLTR) from Market Perform to Outperform ahead of its earnings report, without specifying a price target. The stock's recent 30% plunge was cited as the core reason for the upgrade due to its valuation advantage. BTIG upgraded McDonald's (MCD) from Neutral to Buy, setting a price target of $360. The firm stated that its surveys of McDonald's franchisees indicate that adjustments to value offerings and promotional strategies are consistently driving increased foot traffic. JPMorgan upgraded Autodesk (ADSK) from Neutral to Overweight, maintaining its price target of $319. The firm adjusted its ratings on industrial software stocks, citing a shift in its investment thesis due to diverging fundamentals in the vertical Software-as-a-Service industry. JPMorgan also upgraded Church & Dwight (CHD) from Underweight to Neutral, raising its price target from $92 to $100. The bank believes that after a portfolio reshuffle, Church & Dwight will achieve more impressive sales growth.
The top five rating downgrades include: JPMorgan downgraded Best Buy (BBY) from Overweight to Neutral, significantly slashing its price target from $99 to $76. The firm anticipates that Best Buy's fourth-quarter earnings report will be "less than optimistic." Raymond James downgraded BioNTech (BNTX) from Outperform to Market Perform, slightly raising its price target from $112 to $113. While the firm remains optimistic about the company's long-term potential in differentiated R&D, it noted that key data validating its partnered pipeline potential is not expected until 2027 or later. Scotiabank downgraded Fortinet (FTNT) from Sector Outperform to Sector Perform, maintaining its price target of $85. Following quantitative analysis and recent surveys of Chief Information Security Officers, the firm expressed caution regarding the stock's performance outlook for 2026. HSBC downgraded Chevron (CVX) from Buy to Hold, raising its price target from $169 to $180. The stock's sustained rally this year led the firm to cite valuation as the primary reason for the downgrade. Morgan Stanley downgraded Humana (HUM) from Equal-Weight to Underweight, drastically cutting its price target from $262 to $174. The firm indicated that Humana's 2026 bidding strategy and associated policy risks could delay the recovery of its profit margins.
The top five new coverage initiations include: Phillip Securities initiated coverage on Micron Technology (MU) with a Buy rating and a $500 price target. The firm believes that as Micron's fourth-generation High Bandwidth Memory (HBM4) production ramps up after the second quarter of this year, it will gradually capture market share from SK Hynix. Morgan Stanley initiated coverage on Circle (CRCL) with an Equal-Weight rating and a $66 price target. The bank stated that until the application of stablecoin technology becomes more widespread, it is difficult for investors to assign the stock a higher valuation. Citizens Bank initiated coverage on Stewart Information Services (STC) with an Outperform rating and an $80 price target. The firm believes the stock's current valuation at its present price level is significantly attractive. Wells Fargo initiated coverage on Praxis Precision Medicines (PRAX) with an Equal-Weight rating and a $282 price target. The bank noted that while market sentiment for the drug ulixacaltamide is positive, its approval prospects are "difficult to predict," and it assigned a 50% probability of success for the drug's approval. Craig-Hallum initiated coverage on Thermon Group (THR) with a Buy rating and a $60 price target. The firm highlighted that Thermon Group's business conditions are continuously improving, having completed a transformation in recent years to become more diversified, achieve higher margins, and generate highly recurring revenue; furthermore, as an emerging beneficiary of data center construction, its new products are well-positioned to capitalize on the transition to liquid cooling technology in data centers.
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