When it comes to navigating the ever-changing landscape of Wall Street research calls, it can be overwhelming to keep track of all the latest upgrades, downgrades, and initiations. That’s why Extreme Investor Network is here to help you stay ahead of the game with today’s top research calls that every investor needs to know.
Top 5 Upgrades:
1. Morgan Stanley has upgraded Fiserv (FI) to Overweight from Equal Weight with a price target of $175, up from $154. The firm sees Fiserv as an attractive earnings compounder with the opportunity to deliver modest upside to results.
2. Baird has upgraded Henry Schein (HSIC) to Outperform from Neutral with a price target of $92, citing Henry Schein as a safer “core” dental name to own.
3. JPMorgan upgraded Abercrombie & Fitch (ANF) to Overweight from Neutral with a price target of $194, noting continued broad-based demand for the Abercrombie brand.
4. Stifel upgraded IFF (IFF) to Buy from Hold with a price target of $115, citing the company’s conservative 2024 guidance.
5. BofA upgraded C.H. Robinson (CHRW) to Buy from Underperform with a price target of $99, led by truckload brokerage margin upside.
Top 5 Downgrades:
1. Scotiabank downgraded Crowdstrike (CWRD) to Sector Perform from Outperform with a price target of $300, stepping aside to analyze the impacts of a recent outage incident.
2. Bernstein downgraded American Airlines (AAL) to Market Perform from Outperform with a price target of $12, citing challenges facing the airline.
3. Raymond James double downgraded Estee Lauder (EL) to Market Perform from Strong Buy, citing a slower recovery in key markets.
4. Morgan Stanley downgraded FIS (FIS) to Equal Weight from Overweight with a $79 price target.
5. Goldman Sachs downgraded Lennar (LEN) to Neutral from Buy with a price target of $174, citing less upside compared to other homebuilders.
Top 5 Initiations:
1. Melius Research initiated coverage of Uber Technologies (UBER) and Lyft (LYFT) with Hold ratings and price targets of $77 and $15, respectively.
2. TD Cowen initiated coverage of Berkshire Hathaway class B shares (BRK.B) with a Hold rating and $465 price target.
3. Goldman Sachs initiated coverage of Webtoon (WBTN) with a Buy rating and $62 price target.
4. BMO Capital initiated coverage of Driven Brands (DRVN) with a Market Perform rating and $14 price target.
5. UBS initiated coverage of EVgo (EVGO) with a Neutral rating and $4 price target.
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