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: – Scotiabank upgraded Cloudflare (NET) to Outperform from Sector Perform with a price target of $300, up from $225. After a deeper dive on Cloudflare’s opportunity, the firm is “convinced that the time is now to own shares” given its view that Cloudflare is winning “the best of the best AI-native customers” and more evidence of wins in CIO/CISO fieldwork for Cloudflare SASE and edge compute in the enterprise. – Erste Group upgraded Meta Platforms (META) to Buy from Hold. Revenue growth and operating margin are higher than those of competitors, while the price to earnings ratio is slightly below the sector average, the firm tells investors. – Deutsche Bank upgraded First Solar (FSLR) to Buy from Hold with a $272 price target.
The “recent sharp stock pullback,” with shares down 27% since June 1, creates an opportunity for investors to enter a “fundamentally strong business” in U.S.-based panel production that has a strong balance sheet and is poised for a stronger second half, the firm tells investors. – Melius Research upgraded Allegiant Travel (ALGT) to Buy from Hold with a $160 price target to reflect optimism around the many earnings building blocks ahead. The firm notes Allegiant has been hellbent on realigning the business around the airline, and says the sale of Sunseeker and now the acquisition of Sun Country position the company to drive further relevance with investors. – Benchmark upgraded Repligen (RGEN) to Buy from Hold with an $185 price target, citing improved quarterly financial performance as well as increased valuations for comparable bioprocessing stocks. Top 5 Downgrades: – BofA reinstated Adobe (ADBE) at Underperform with a $190 price target, down from the Buy rating the firm previously held.