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: – Daiwa upgraded Qualcomm (QCOM) to Outperform from Neutral with a price target of $225, up from $140. Qualcomm’s Q2 results were mixed, with strong Auto and IoT growth offset by weaker-than-expected handset performance and softer Q3 guidance, but focus is increasingly shifting toward the company’s emerging data center AI CPU opportunity, which could position Qualcomm to benefit from the same Arm-based AI inference trends driving enthusiasm for Arm (ARM) and Intel (INTC), the firm says. – Craig-Hallum upgraded Akamai (AKAM) to Buy from Hold with a price target of $190, up from $100, as the firm sees this quarter as transformational. Craig-Hallum notes the quarter and outlook for the core business were in line but were lost in the “shocking” implications of a $1.8B / seven-year deal with an AI Frontier Lab. – Wells Fargo upgraded Victoria’s Secret (VSCO) to Overweight from Equal Weight with a price target of $57, up from $55.
The firm’s work shows GLP-1 adoption is behind a “mega-trend that can drive robust demand” in U.S. apparel for multiple years. – UBS upgraded Tapestry (TPR) to Buy from Neutral with a price target of $187, up from $142. The firm says the company is successfully executing its new customer acquisition plan, particularly Gen-Z consumers, better than expected. – Craig-Hallum upgraded Rocket Lab (RKLB) to Buy from Hold with a $98 price target following a large beat and a Q2 outlook well ahead of consensus. Top 5 Downgrades: – BofA double downgraded HubSpot (HUBS) to Underperform from Buy with a price target of $180, down from $300.