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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Deutsche Bank upgraded Autodesk (ADSK) to Buy from Hold with a price target of $375, up from $345. The company reported “very healthy” Q3 results that represented “one of its “cleanest” quarterly prints over the last few years, the firm tells investors in a research note.
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Northland upgraded NetApp (NTAP) to Outperform from Market Perform with a price target of $137, up from $120, after the company reported revenue growth excluding divested Spot accelerated to 4% year-over-year in fiscal Q2 and guided to accelerate to 5% in the second half of FY26.
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Morgan Stanley upgraded Amentum (AMTM) to Equal Weight from Underweight with a price target of $35, up from $20. The firm sees a more balanced risk/reward at current share levels.
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JPMorgan upgraded Atmus Filtration (ATMU) to Overweight from Neutral with a price target of $60, up from $53, after the company announced the proposed acquisition of Koch Filter, a pure-play air filter manufacturer.
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Argus upgraded Herbalife (HLF) to Buy from Hold. The firm cites the company’s Q3 earnings beat reported earlier this month while also boosting its FY25 EPS view by 3c to $2.15 and its FY26 view by 4c to $2.64.
Top 5 Downgrades:
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Macquarie downgraded Nio (NIO) to Neutral from Outperform with a price target of $5.30, down from $6.70, following the Q3 report. The company issued “weak” Q4 volume guidance of 122,500 units at the midpoint, below its prior.
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Craig-Hallum downgraded PagerDuty (PD) to Hold from Buy with a price target of $15, down from $20. While difficult to put a precise finger on it, there clearly appears to be a fundamental change in end markets in ways detrimental to the standing of PagerDuty, Craig-Hallum adds.
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UBS downgraded Biohaven (BHVN) to Neutral from Buy with a price target of $11, down from $26. The firm says the company’s “multiple” research and development and regulatory setbacks have lowered confidence in the viability of its remaining pipeline programs.
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Bernstein downgraded Ambev (ABEV) to Market Perform from Outperform with a $2.88 price target. The firm cites valuation for the downgrade with the shares up 16% year-to-date.
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RBC Capital downgraded Morgan Stanley Direct Lending (MSDL) to Sector Perform from Outperform with a price target of $18, down from $19. The firm believes Morgan Stanley Direct could generate net interest income return on equity closer to the lower end of the range for its business development company coverage in 2026.