First Solar receives a downgrade, Fortinet sees an upgrade: Leading analyst recommendations from Wall Street
By:101 finance
Today's Key Wall Street Analyst Actions
Stay updated with the most significant analyst recommendations and research notes that are influencing the markets. Below is a summary of the latest upgrades, downgrades, and new coverage initiations compiled for investors.
Top 5 Analyst Upgrades
- Zillow Group (ZG) received an upgrade from Barclays, moving from Underweight to Equal Weight. The price target was raised to $72 from $66, as the firm believes much of the potential downside is already reflected in the stock price.
- Fortinet (FTNT) was upgraded by Rosenblatt to Buy from Neutral, with the price target increased to $100 from $85. The firm notes a significant uptick in demand based on recent reseller feedback, ahead of the upcoming Q4 earnings report.
- Littelfuse (LFUS) was raised to Buy from Hold by Benchmark, setting a target price of $360. The upgrade follows a strong fourth-quarter performance and a positive business outlook, with previous concerns about inventory and visibility now easing.
- Cencora (COR) was moved to Overweight from Equal Weight by Morgan Stanley, with the price target lifted to $400 from $361. The firm highlights Cencora’s leadership in specialty markets, further strengthened by its acquisition of a majority stake in OneOncology.
- Korro Bio (KRRO) was upgraded to Buy from Neutral by Chardan, setting a $15 price target after the company’s analyst day. The firm notes a positive shift in the company’s outlook. Additionally, Piper Sandler also upgraded Korro Bio to Overweight from Neutral.
Top 5 Analyst Downgrades
- First Solar (FSLR) was downgraded by BMO Capital to Market Perform from Outperform, with the price target reduced to $263 from $285. The firm now considers Tesla CEO Elon Musk’s plans for a vertically integrated solar manufacturing operation as a credible initiative, based on recent earnings commentary.
- Omega Healthcare (OHI) was lowered to Equal Weight from Overweight by Wells Fargo, with the target price cut to $45 from $48, citing that the current valuation is already fully priced.
- Prosperity Bancshares (PB) was downgraded to Neutral from Overweight by Piper Sandler, with a reduced price target of $74 from $77. The firm believes the acquisition of Stellar Bancorp (STEL) will keep investors cautious due to the expected timeline for tangible book value recovery.
- Stellar Bancorp was downgraded to Market Perform from Outperform by Raymond James, without a specified price target. The downgrade is attributed to the pending merger with Prosperity Bancshares.
- Amcor (AMCR) was cut to Equal Weight from Overweight by Morgan Stanley, with the price target lowered to $46 from $57.50. The firm cites ongoing weakness in organic volume, despite successful integration of the Berry acquisition and attractive valuation.
Top 5 New Analyst Coverages
- StubHub (STUB) began coverage at Craig-Hallum with a Hold rating and a $12 price target. While recent growth has been strong, the firm questions StubHub’s ability to further increase market share and expand EBITDA margins significantly.
- Flotek (FTK) was initiated with a Buy rating and a $25 price target by Lake Street. The firm is optimistic about Flotek’s strategic shift toward high-value, data-driven measurement services for the energy sector, noting encouraging early results.
- Terrestrial Energy (IMSR) received an Outperform rating and a $15 price target from Northland. The company is advancing molten salt nuclear reactor technology, offering improved safety and operational benefits. Despite partnerships with the DOE and Texas A&M, the stock trades at a notable discount to peers.
- LightPath (LPTH) was started at Canaccord with a Buy rating and a $15 price target. The firm highlights strong demand for alternatives to Germanium, with LightPath’s new BlackDiamond chalcogenide glass optics gaining traction among global manufacturers.
- Agnico Eagle (AEM) was initiated at JPMorgan with a Neutral rating and a $248 price target. The firm maintains a positive outlook for gold in both the near and long term, citing central bank purchases and uncertainty in U.S. policy.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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