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:
Mizuho upgraded Coinbase (COIN) to Neutral from Underperform with a price target of $290, up from $250. The firm says its analysis of bitcoin adoption growth points to further upside in bitcoin price over the medium-term, and notes Bitcoin price and Coinbase shares are highly correlated.
Barclays upgraded Nextracker (NXT) to Overweight from Equal Weight with a price target of $60, up from $47. The firm now expects the company to track towards the upper end, if not above, all its guidance metrics for fiscal 2025. Jefferies also upgraded Nextracker to Buy from Hold with a price target of $56, up from $46.
Needham upgraded Open Lending (LPRO) to Buy from Hold with a $7 price target. The firm sees signs of stabilization and modest improvement in the auto lending market.
Cantor Fitzgerald upgraded Beam Therapeutics (BEAM) to Overweight from Neutral without a price target ahead of the upcoming preliminary data readout for BEAM-302 in alpha-1 antitrypsin deficiency.
Stephens upgraded NBT Bancorp (NBTB) to Overweight from Equal Weight with an unchanged $53 price target following earnings. The firm sees the bank having “best-of-breed fundamentals,” including a strong low-cost deposit base, diversified and high-quality revenue composition, an improving yield curve, and improving markets in Syracuse, Malta, and Albany in the wake of the CHIPS Act push to create semiconductor chip manufacturing plants here in the U.S.
Top 5 Downgrades:
Oppenheimer downgraded Apple (AAPL) to Perform from Outperform with no price target as the firm lowered its FY26 EPS estimate by 4% to $7.95, which is below consensus at $8.23, based on reduced iPhone sales estimates in the next 12-18 months.
Stifel downgraded Datadog (DDOG) to Hold from Buy with a price target of $140, down from $165. The firm warns that the company is heading for headwinds to revenue growth and margin expansion in FY25 while the stock is trading at a “full valuation” of 13.5-times on enterprise value to expected forward revenue basis.
Goldman Sachs downgraded Moderna (MRNA) to Neutral from Buy with a price target of $51, down from $99. The recent product revenue guidance represents the second in a series of negative revisions over the last six months, the firm notes.
Oppenheimer downgraded Transcat (TRNS) to Perform from Outperform without a price target. The company’s fiscal Q3 results fell short of expectations and Transcat reduced its fiscal 2025 organic service growth outlook, the firm tells investors in a research note.
Baird downgraded Leap Therapeutics (LPTX) to Neutral from Outperform with a price target of $1.25, down from $9, after the company announced results from Phase 2 trials of sirexatamab in colorectal cancer and gastric cancer.
