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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BofA upgraded Royal Caribbean(RCL) to Buy from Neutral with a $330 price target. Royal is well positioned to capture further travel share and the recently announced investment in Sandals Resorts can generate outsized EBITDA growth, the firm added. Deutsche Bank also upgraded Royal Caribbean to Buy from Hold with an unchanged price target of $299.
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KeyBanc upgraded First Solar(FSLR) to Sector Weight from Underweight without a price target, citing valuation. Following the recent underperformance, the shares are trading closer to KeyBanc’s prior price target, the firm tells investors in a research note.
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Raymond James double upgraded Park Hotels & Resorts(PK) to Strong Buy from Market Perform with a $19 price target. Park’s valuation remains attractive despite the stock’s 48% rally year-to-date, the firm tells investors in a research note.
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Wells Fargo upgraded Sweetgreen(SG) to Overweight from Equal Weight with a price target of $11, up from $6, after meeting with management. The company’s Cyclospora headwinds fading and its transformation initiatives are beginning to materialize, the firm says.
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BofA upgraded Teleflex(TFX) to Buy from Neutral with a price target of $158, up from $145. With a new management team and better execution, the firm sees upside to the Street’s consensus forecast for organic growth and EPS forecasts, arguing that the growth potential is “not appreciated.”
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Jefferies downgraded Roblox(RBLX) to Underperform from Hold with an unchanged price target of $38. The stock’s 30% rally post the Q2 results “reflects an overly optimistic view” of Roblox’s 12-month bookings trajectory, the firm tells investors in a research note.
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Deutsche Bank downgraded PepsiCo(PEP) to Hold from Buy with a price target of $138, down from $155. The firm cites less certainty in PepsiCo’s strategic direction in North America for the downgrade.
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DA Davidson downgraded UiPath(PATH) to Underperform from Neutral with a $10 price target following the investor day. While the company “has proven its durability recently,” pricing pressure will impact its growth, contends the firm.
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DA Davidson downgraded BlackLine(BL) to Underperform from Neutral with a price target of $23, down from $30. The firm is warning that incremental competition from frontier labs is expected to remain a headwind.
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Raymond James downgraded Acadia Healthcare(ACHC) to Outperform from Strong Buy with a $39 price target. The firm cites limited near-term visibility into PLGL accrual dynamics rather than reduced confidence in its long-term cash-generation potential, as the next accrual reassessment is not until Q4.
