The Fly’s latest analyst roundup highlighted upgrades including Okta, T-Mobile, Gilead, Cloudflare, Meta and First Solar, alongside downgrades for Datadog, Adobe, Broadcom, Delta Air Lines and JetBlue and several new coverage launches.
Wall Street analysts issued a broad set of rating changes and coverage launches in The Fly’s daily roundup, with notable upgrades for Okta, T-Mobile, Gilead, Cloudflare, Meta Platforms, First Solar, Allegiant Travel and Repligen. Scotiabank upgraded Okta to Outperform with a $165 target and separately lifted Cloudflare to Outperform with a $300 target, citing stronger cybersecurity and AI-related demand. BofA upgraded T-Mobile to Buy with a $220 target, while HSBC upgraded Gilead to Buy and raised its target to $155 from $133. Deutsche Bank upgraded First Solar to Buy with a $272 target after a 27% share pullback since June 1, and Erste Group upgraded Meta to Buy. On the downgrade side, Bernstein cut Datadog to Market Perform despite raising its target to $226, while BofA reinstated Adobe at Underperform with a $190 target, warning generative AI could pressure parts of its core market. Erste Group downgraded Broadcom to Hold, Raymond James lowered Delta Air Lines to Outperform from Strong Buy and downgraded JetBlue to Underperform, and other cuts included American Airlines, Medpace, Ferguson, Allstate, Chubb and several transportation names. Analysts also initiated or resumed coverage on names including Lululemon, Glaukos, ERock, Forbright, WhiteHawk Minerals, SpaceX, EchoStar, Shopify, US Foods and Kingsoft Cloud.