Here is a summary of Tuesday’s most significant analyst activity on Wall Street:
Goldman Sachs reiterates Netflix as a Buy: While lowering the 12-month price target from $94 to $90 to reflect recent estimate adjustments, Goldman maintains its Buy rating despite recent stock underperformance and ongoing investor debate.
Baird initiates SPX Technologies as Outperform: Analysts see “attractive compounding” potential in SPXC, noting its proven track record of value creation and significant runway for growth through acquisitions and efficient capital deployment.
Wells Fargo upgrades Cleveland-Cliffs to Overweight: This “tactical” upgrade comes as the firm notes that while the steel pricing cycle may be peaking, the benefits to CLF have lagged behind.
BMO initiates AvePoint as Outperform: BMO has launched coverage on the data management company with a $17 target price, suggesting it is uniquely well-positioned in its sector.
B. Riley upgrades Skyworks Solutions to Buy: Moving from Hold, the firm views the current price as an “interesting entry point,” noting that the recent Qorvo deal closed ahead of schedule with strong cost synergies and immediate EPS accretion.
Gordon Haskett upgrades Dollar General to Buy: Following a meeting with management, the firm expressed increased appreciation for the company’s margin potential and long-term drivers beyond just shrink and damages.
Raymond James upgrades Prosperity Bancshares to Outperform: The firm views the stock as a high-quality, defensive franchise that offers an attractive risk/reward profile following recent underperformance.
Goldman Sachs reiterates SpaceX as a Buy: Goldman raised its price target for SpaceX to $230 from $220, noting that AI segment estimates appear conservative over the next 6-18 months.
Melius initiates Toll Brothers as a Buy: While generally cautious on the homebuilder sector, Melius identifies Toll Brothers as its sole Buy recommendation among builders.
Mizuho reiterates AMD as Outperform: Mizuho significantly raised its price target for AMD to $705 from $580. The firm also raised targets for several other semiconductor and tech names, including Dell and Intel.
William Blair initiates Revvity as Outperform: The firm sees significant upside as the life sciences markets for pharma/biotech and academic/government sectors recover, supported by AI tailwinds.
StoneX upgrades MillerKnoll to Buy: Following a leadership transition and a solid quarterly performance, StoneX believes the furniture manufacturer is reinvigorated and focused on key growth opportunities.
StoneX initiates Pasqal Holdings as a Buy: Analysts have launched coverage on the quantum computing leader with a $15.00 price target.
Bank of America initiates Diodes as a Buy: BofA sees powerful cyclical and secular tailwinds ahead for the analog semiconductor supplier, setting a $135 price target.
Evercore ISI upgrades Procter & Gamble to Outperform: Citing structural progress and improved operating leverage, Evercore raised its outlook for the consumer goods giant.
Bernstein reiterates Apple as Outperform: Channel checks suggest strong global iPhone sales growth through August, driven by both volume and increased average selling prices.
JPMorgan upgrades Corteva to Overweight: The firm views the company as high quality following the spin-off of its seed business.
Needham initiates Standard Nuclear as a Buy: The firm has launched coverage with an $18 price target, citing the company’s strong positioning in the nuclear sector.
Jefferies upgrades MYR Group to Buy: Analysts see superior earnings growth potential driven by strong utility capital expenditure and favorable labor dynamics in the electrical and construction sectors.
William Blair initiates Lattice Semiconductor as Outperform: The firm highlights the company’s significant upside potential across its diverse customer base in data centers, automotive, and industrial markets.
Morgan Stanley upgrades BorgWarner to Overweight: Moving from Equal Weight, the firm raised its price target to $95, noting that hybrid demand and onsite power storage provide high-margin earnings opportunities.
Citi upgrades JetBlue to Neutral: Following a significant decline in share price since its previous downgrade, Citi has moved the stock to Neutral based on improved valuation.
Citi reiterates AMD and Nvidia as Buys: Citi raised its AMD price target to $800, citing Meta as a major customer, and reiterated its Buy rating on Nvidia with a $315 target due to sustained GPU demand.
Raymond James upgrades Chain Bridge Bancorp to Outperform: The firm believes the regional bank is well-positioned to benefit from a favorable operating environment and higher interest rates.
Rothschild & Co Redburn initiates defense names as Buys: The firm launched coverage on Lockheed Martin ($650 PT), Northrop Grumman ($680 PT), and Kratos Defense ($70 PT), citing them as primary beneficiaries of increased military spending.
Deutsche Bank upgrades Penn Gaming and Boyd Gaming to Buy: Describing the move as a “buy the dip” opportunity, the firm notes that operating fundamentals remain intact despite recent price declines.
Wells Fargo reiterates Meta as Overweight: Wells raised its price target to $1,000, expressing confidence in the Muse product cycle despite potential caution regarding 2027 financial contributions.
Wells Fargo reiterates Alphabet as Overweight: The firm raised its target to $417, anticipating strong cloud revenue growth and solid search revenue.
BTIG upgrades NeoGenomics to Buy: Moving from Neutral, BTIG views the company as a “growth at a reasonable price” (GARP) opportunity with an $28 target.
Oppenheimer initiates Vylor as Outperform: The firm has launched coverage on the “genetics compounder” with an $82 price target.
Barclays upgrades Qiagen and Fortrea to Overweight: Analysts see positive catalysts for both companies, citing margin upside for Fortrea and attractive valuation for Qiagen.
Morgan Stanley reiterates SpaceX as Overweight: The firm views developments within the “Muskonomy” as significant for the rebuilding of domestic manufacturing and defense capabilities.
Berenberg downgrades Nike to Sell: The firm has moved to a Sell rating, citing a shrinking role in the sportswear category and projected sales declines for fiscal 2027.
