Wall Street research desks issue broad upgrades, downgrades and new coverage

  • Truist initiated Nebius at Buy with a $355 price target.
  • JPMorgan raised Meta’s price target to $820 from $640 while upgrading it to Overweight.
  • Morgan Stanley downgraded Nike to Underweight and reiterated Ferrari at Overweight.

Wall Street analysts issued a broad set of research calls spanning artificial intelligence, health care, technology, consumer companies, energy, industrials, transportation and financial services. Truist initiated Nebius at Buy with a $355 price target, citing potential margin upside as the AI-native hyperscaler expands its infrastructure. Deutsche Bank initiated Clover Health at Buy with a $6 target, while Morgan Stanley started Revolution Medicines at Overweight and highlighted its RAS-targeted oncology portfolio. Goldman Sachs initiated Abivax at Buy with 12-month price targets of €132 and $155 for the ADR. Upgrades included Wells Fargo’s moves on Synopsys and Yum Brands, Raymond James on Casey’s General Stores, KBW on Simmons First National, RBC on Paccar, JPMorgan on Meta and Herc Holdings, Morgan Stanley on TC Energy and DT Midstream, Wolfe on Kymera Therapeutics, StoneX on Block and BTIG on Orchestra BioMed. JPMorgan raised Meta’s target to $820 from $640, while Bank of America reiterated Apple at Buy but cut its target to $370 from $380. Morgan Stanley raised Ferrari’s target to $460 from $442 while maintaining an Overweight rating. New coverage also included Buy ratings for Relx, Matador Resources, StepStone Group and Amer Sports; Outperform ratings for Aehr Test Systems, Clean Harbors, 908 Devices, Louisiana-Pacific and a group of trucking companies; and Overweight ratings for SK Hynix, Nvidia, Broadcom, Arm and Advanced Micro Devices. Piper Sandler reiterated SpaceX at Neutral, JPMorgan reiterated Tesla at Neutral, and Morgan Stanley downgraded Nike to Underweight from Equal Weight.

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