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AMD downgraded, Dollar General upgraded: Wall Street's top analyst calls
The Fly
4 min read
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DG -1.92%
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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Melius Research upgraded Dollar General (DG) to Buy from Hold with a $110 price target. While the company had its own "self-inflicted" challenges and competitive challenges over the last 12 months, the firm believes it likely will benefit from a worsening macro environment and a lack of tariff exposure.
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Wells Fargo upgraded Ralph Lauren (RL) to Overweight from Equal Weight with a price target of $240, down from $275. The firm says it simply believes Ralph Lauren carries some of the best brand heat KPIs in its Softlines space today and has global diversification and pricing power to limit tariff downside risk.
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Wells Fargo upgraded Ross Stores (ROST) to Overweight from Equal Weight with a price target of $150, up from $140. The firm cites its more defensive nature, strong balance sheet/free cash flow and levers in place to sustain P&L metrics.
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Piper Sandler upgraded Wells Fargo (WFC) to Overweight from Neutral with a $77 price target. The firm says that while much remains to be written for the group's story, it considers the entry point much more attractive.
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Goldman Sachs upgraded Eli Lilly (LLY) to Buy from Neutral with a price target of $888, down from $892, after a transfer in analyst coverage. Following the recent selloff, Eli Lilly shares offer a "compelling entry point into the sector's premier topline grower," the firm tells investors in a research note.
Top 5 Downgrades:
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KeyBanc downgraded AMD (AMD) to Sector Weight from Overweight without a price target. The firm has increasing concerns regarding the sustainability of company's China artificial intelligence business and sees increasing risk to gross margins given a potential price war with Intel (INTC).
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Morgan Stanley downgraded Robinhood (HOOD) to Equal Weight from Overweight with a price target of $40, down from $90. In a tougher macro backdrop with greater need to hedge risks, the firm sees risks for retail dis-engagement to pressure trading revenue at Robinhood, leading it to cut EPS estimates.
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Morgan Stanley downgraded HP Enterprise (HPE) to Equal Weight from Overweight with a price target of $14, down from $24. Accretion from the impending close of the Juniper (JNPR) acquisition has been put on pause for now until Department of Justice trial in late summer, the firm tells investors in a research note.
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Goldman Sachs downgraded American Airlines (AAL) to Sell from Neutral with a price target of $8, down from $16. The firm says the company's higher balance sheet leverage and operating leverage drive significantly larger estimate cuts relative to peers amid increased macroeconomic and geopolitical uncertainty.
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BofA double downgraded Alcoa (AA) to Underperform from Buy with a price target of $26, down from $58. The BofA Commodities team has refreshed its price forecasts and lowered its aluminum forecast by 12% and its alumina view by 38%.
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