The most talked about and market moving research calls around Wall Street are now in one place. Here are today’s research calls that investors need to know, as compiled by The Fly.
Top 5 Upgrades:
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Mizuho upgraded MongoDB (MDB) to Outperform from Neutral with a price target of $325, up from $290. The firm sees a “compelling” share setup post the company’s fiscal Q4 report.
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Stifel upgraded Valvoline (VVV) to Buy from Hold with a price target of $42, up from $40. The stock’s recent pullback provides a “compelling entry point,” the firm tells investors in a research note.
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Raymond James upgraded AeroVironment (AVAV) to Market Perform from Underperform without a price target. The firm cites valuation for the upgrade following the stock’s 35% decline since March 2.
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Morgan Stanley upgraded Cheniere Energy (LNG) to Overweight from Equal Weight with a price target of $313, up from $236. The upgrade follows the damage to Qatar’s liquified natural gas plant in Ras Laffan.
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Morgan Stanley upgraded Brookfield Infrastructure Partners (BIP) to Overweight from Equal Weight with an unchanged price target of $45. The shares do not reflect the company’s accelerating growth profile, the firm tells investors in a research note.
Top 5 Downgrades:
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Northland downgraded Super Micro (SMCI) to Market Perform from Outperform with a $22 price target. While the firm views the separation of the Chief Compliance Officer and CFO roles as a positive, it says this “appears reactionary rather than proactive” and believes Super Micro will challenged with flattish revenue and earnings growth until actions are taken to separate the Chairman and CEO roles.
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William Blair downgraded Dropbox (DBX) to Underperform from Market Perform without a price target. The firm also downgraded GitLab (GTLB), N-able (NABL), and Backblaze (BLZE) to Underperform. In addition, the firm cut Box (BOX), Varonis (VRNS), Commvault (CVLT), AvePoint (AVPT), and Nutanix (NTNX) to Market Perform, citing the “increased uncertainty that AI has injected into the software sector.”
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BTIG downgraded Zimmer Biomet (ZBH) to Neutral from Buy without a price target. The shares are unlikely to generate much return over the quarters ahead despite Zimmer’s efforts to improve growth and profitability, the firm tells investors in a research note.
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Macquarie downgraded XPeng (XPEV) to Neutral from Outperform with a price target of $19, down from $24. The firm likes XPeng’s physical AI “optionality” but says the company’s volume growth “is no guarantee this year.”
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Wells Fargo downgraded Crown Castle (CCI) to Equal Weight from Overweight with a price target of $85, down from $90. Wells says its analysis of tower fundamentals post the Q4 reports shows Crown Castle’s relative organic growth excluding Dish came in “meaningfully below” peers.