Wall Street’s Notable Calls on Thursday
On Thursday, several significant updates emerged from Wall Street analysts. RBC has upgraded Nike, citing the company’s progress in its turnaround efforts. They mentioned that Nike has been making commendable strides in its running footwear segment, backed by positive channel checks and enhancements in its organizational framework, which should foster quicker and more responsible decision-making.
Goldman Sachs also upgraded Stepstone Group from Neutral to Buy, viewing the financial planning firm as an undervalued recipient of wealth expansion in the private market. They are projecting a price target of $83, suggesting a potential upside of 37%.
In other news, Roth initiated coverage on Grabagun Digital, a firearm e-commerce firm, with a rating of “Buy” and a price target of $8.25, expressing confidence in its market position.
Barclays turned bullish on Be-On Drugs, a biotech firm focused on developing treatments for hematological and solid tumors. Their enthusiasm indicates a potential for significant growth in the sector.
Citi reaffirmed its Buy rating for Meta, particularly after a presentation showcased the company’s new AI smart glasses at their Connect Conference. There’s some optimism that Meta’s AI device strategy will lead to increased adoption of these new products.
UBS downgraded Dropbox from Neutral to Sell, citing concerns over its sales trajectory and predicting a decrease to a target of $27. Meanwhile, Box was also downgraded to Neutral, with UBS expressing that its core business is stable but lacks short-term growth prospects.
William Blair has started coverage on Credo, highlighting its strong potential in AI connectivity solutions. Mizuho also maintained a Neutral stance on Coinbase, adjusting its price target from $267 to $300, suggesting that current valuations align with sector performance.
Goldman Sachs reiterated its Neutral rating on Tesla, suggesting projected growth in earnings per share from advancements in autonomy and robotics. They raised their 12-month price target to $395, indicating a positive outlook despite elevated market multiples.
Wolfe Research launched coverage on Home Depot and Lowe, proudly stating both companies are positioned to reap benefits from an improving housing market. In contrast, Wells Fargo expressed concerns about Progressive, downgrading their stance from overweight due to worries about slowing growth.
RBC also upgraded CSX to outperform, considering its attractive inventory in various integration scenarios. CFRA reiterated its position on Nvidia, cautioning that limited benefits could persist until trade talks between the US and China advance.
JPMorgan began coverage on CRISPR Therapeutics, rating it as overweight. Oppenheimer reiterated its positive stance on Apple, suggesting that Meta’s smart glasses do not pose a significant threat to Apple’s existing product ecosystem.
Finally, Piper Sandler raised Alphabet’s price target from $220 to $285, positing that search capabilities could regain momentum in 2026. Bank of America has initiated coverage on Aerovironment, expressing bullish sentiments for the drone company’s stock.
