The Fly
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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 Upgrades:
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Jefferies upgraded Disney (DIS) to Buy from Hold with a price target of $144, up from $100. The firm now sees limited risk of a second half of 2025 Parks slowdown from Epic Universe and macro factors and is more positive on FY26 Cruise upside.
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Stifel upgraded Oracle (ORCL) to Buy from Hold with a price target of $250, up from $180. The recent "dramatic step-up" in capex and remaining performance obligation gains support management's Cloud growth expectations and these Cloud gains should generate accelerating revenue increases in coming years, the firm tells investors.
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Wolfe Research upgraded Medtronic (MDT) to Peer Perform from Underperform and no price target. The firm still has long term concerns, but over the next few quarters, Wolfe skews to the view that FY26 estimates seem "a touch favorable."
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Citi upgraded Linde (LIN) to Buy from Neutral with a price target of $535, up from $500. The company is seeing continued success with project execution and underlying price and productivity, says the firm, which also points to high-quality project backlogs with near-term opportunities and recent success on longer-dated clean hydrogen/ammonia as reasons to "get constructive" on Linde's growth algorithm.
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Mizuho upgraded Consolidated Edison (ED) to Outperform from Neutral with a price target of $107, up from $105. Shares have been lagging the Utility group over the past three months and the firm views the recent selloff as one that represents "a compelling opportunity" for "a quintessential premium utility."
Top Downgrades:
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More cautious on the name, Argus moved to the sidelines on Regeneron (REGN), downgrading the stock to Hold from Buy.
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D. Boral Capital downgraded CorMedix (CRMD) to Hold from Buy after CorMedix priced a public offering of 6.6M shares of common stock, raising gross proceeds of approximately $85M.
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BofA downgraded ProKidney (PROK) to Underperform from Neutral with a price target of $1, down from $3. The downgrade reflects more conservative peak sales for REACT, the company's sole product candidate in development for treatment of diabetic chronic kidney disease, the firm tells investors in a research note.
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BMO Capital downgraded Tronox (TROX) to Underperform from Market Perform with a price target of $3, down from $7. Due to weak U.S. housing, soft China construction markets, and listless demand in Europe, the demand environment remains challenged, and pricing remains difficult even in tariff-protected areas owing to the soft demand and fierce competition, the firm says.
