The latest analyst ratings from Wall Street's most closely watched firms, which are influential enough to move markets, have been compiled. Below are the day's key rating changes, as aggregated by The Fly.
Five Major Rating Upgrades
Barclays upgraded Whirlpool (W) from "Equal Weight" to "Overweight," raising its price target from $104 to $123. The firm's research report noted that Whirlpool's market share is set to accelerate in 2025, a trend expected to continue into 2026. Oppenheimer upgraded McDonald's (MCD) from "Perform" to "Outperform," setting a price target of $355. Given the underperformance of the restaurant sector in 2025, the firm holds a more optimistic view on the industry's trajectory for 2026. Barclays upgraded Lowe's (LOW) from "Equal Weight" to "Overweight," increasing its price target from $259 to $285. This upgrade accompanies Barclays' broader 2026 outlook for the general merchandise, hardlines, and food retail sectors. The firm anticipates an improvement in non-essential demand, particularly as forthcoming tax policy adjustments are expected to benefit middle-to-upper-income consumer demographics. Piper Sandler upgraded The Hershey Company (HSY) from "Neutral" to "Overweight," lifting its price target from $193 to $213. The firm stated that persistently declining cocoa costs, coupled with the removal of cocoa tariffs, provides Hershey with "significant flexibility" to increase reinvestment for business growth while also delivering earnings that surpass expectations. Bank of America upgraded Regeneron Pharmaceuticals (REGN) by two notches, from "Underperform" to "Buy," and raised its price target substantially from $627 to $860. The upgrade was driven by multiple factors, including the view that the initial "Underperform" thesis based on the Eylea SD formulation has now played out, and general market expectations have been correspondingly lowered.
Five Major Rating Downgrades
Jefferies downgraded First Solar (FSLR) from "Buy" to "Hold," reducing its price target from $269 to $260. The firm expressed caution regarding the stock's 2026 prospects, citing limited order visibility and the emergence of "related strategic-level issues." Oppenheimer downgraded Yum! Brands (YUM) from "Outperform" to "Perform" and did not assign a price target. This adjustment follows Yum!'s strong stock performance in 2025. The firm noted that this large-cap stock, which was a key recommendation for 2025, has gained 13%, and the risk-reward profile is now "balanced." BMO Capital Markets downgraded Union Pacific (UNP) from "Outperform" to "Market Perform," lowering its price target from $270 to $255. Citing high uncertainty around regulatory outcomes and persistently weak freight demand, the firm adopted a cautious stance on the stock. Piper Sandler downgraded Deckers Outdoor (DECK) from "Neutral" to "Underweight," cutting its price target from $100 to $85. The firm's report indicated that despite the stock's 34% surge since early November, Deckers' core brands, Hoka and Ugg, began increasing discounting activities this summer. Wells Fargo downgraded Humana (HUM) from "Overweight" to "Equal Weight," setting a price target of $290. The firm stated that due to the absence of anticipated benefit cuts, there are questions about the achievability of Humana's 2026 margin targets, warranting a more cautious view. Separately, Wells Fargo also downgraded Universal Health Services (UHS) from "Overweight" to "Equal Weight."
Five Notable Initiations of Coverage
Argus Research initiated coverage on the grocery delivery platform Instacart (CART) with a "Buy" rating and a $52 price target. The firm emphasized that the company has not only achieved revenue growth but also recently reached profitability, with the latest performance data showing positive trends. Citigroup initiated coverage on Natera (NTRA) with a "Buy" rating and a $300 price target. Citi believes Natera possesses "considerable" growth potential and deserves a valuation premium. Leerink Partners initiated coverage on Galecto, Inc. (GLTO) with an "Outperform" rating and a $46 price target. The firm pointed out that Galecto executed a reverse merger to acquire Damoah Therapeutics, aiming to advance its hematology/oncology pipeline targeting mutant calreticulin (mCALR)-driven myeloproliferative neoplasms, key drivers of essential thrombocythemia and myelofibrosis. Wolfe Research initiated coverage on Apogee Therapeutics (APGE) with a "Peer Perform" rating and did not set a price target. The firm stated that "a convenience frenzy has pushed the stock to all-time highs" and predicted the stock will face two negative catalysts in the first half of 2026, followed by one high-conviction positive catalyst in the second half. Mizuho Securities initiated coverage on Palvella Therapeutics (PVLA) with an "Outperform" rating and a $205 price target. The firm believes that recent positive Phase 2 data for its drug candidate Qtorin in treating cutaneous venous malformations "significantly de-risks" the upcoming Phase 3 data readout for microcystic lymphatic malformations.
Comments