SolarEdge upgrade, Meta Platforms downgrades and Constellation Energy initiations among today's top calls on Wall Street Institutional investors and professional traders rely on The Fly to learn which companies the best analysts on Wall Street are saying to buy and sell.
Research analysts at Wall Street's largest banks issue recommendations on whether a stock should be bought, held, or sold. The Fly's team of financial market experts scours hundreds of research notes daily to uncover the best trading ideas. Check out today's top analyst calls from around Wall Street, compiled by The Fly.
Top 5 Upgrades:
- Needham analyst Vikram Bagri upgraded SolarEdge (SEDG) to Buy from Hold with a $347 price target. The stock has declined largely in-line with its peers in the recent months despite significantly lower exposure to the residential solar market in California, the analyst notes.
- BTIG analyst Marie Thibault upgraded Insulet (PODD) and DexCom (DXCM) to Buy from Neutral with price target of $320 and $535, respectively. The analyst argued that following the recent pullback, valuations are now "more reasonable" to warrant greater upside potential relative to downside risk.
- Stifel analyst J. Bruce Chan upgraded C.H. Robinson (CHRW) to Buy from Hold with a price target of $106, up from $102. While the quarter was disappointing, Robinson is still the largest player in a secular growth industry, Chan contended. Meanwhile, UBS analyst Thomas Wadewitz downgraded C.H. Robinson to Neutral from Buy with a price target of $94, down from $110.
- UBS analyst John Lovallo upgraded NVR (NVR) to Neutral from Sell with a price target of $5,500, up from $4,825, following the company's fourth quarter results.
- William Blair analyst Andrew Brackmann upgraded Glaukos (GKOS) to Outperform from Market Perform without a price target. The analyst believes consensus estimates properly discount impacts from omicron on procedure volumes, fallout in the U.S. microinvasive glaucoma surgery business as a result of reimbursement changes, and the entrance of Alcon (ALC) into the market with its acquisition of Ivantis.
Top 5 Downgrades:
- JPMorgan analyst Doug Anmuth downgraded Meta Platforms (FB) to Neutral from Overweight with a price target of $284, down from $385. The analyst also removed the shares from the firm's Analyst Focus List following the company's Q4 results. Loop Capital analyst Alan Gould also downgraded Meta Platforms to Hold from Buy with a price target of $230, down from $380, while his peer at Raymond James cut the stock's rating to Outperform from Strong Buy with a price target of $340, down from $410. Additionally, BMO Capital analyst Daniel Salmon downgraded Meta Platforms to Market Perform from Outperform with a price target of $290, down from $425.
- Barclays analyst Adrienne Yih downgraded Gap (GPS) to Equal Weight from Overweight with a price target of $15, down from $27. The analyst's promotional analysis suggesting a "negative inflection" to year-over-year promos at Old Navy, Gap, and Athleta.
- Bank of America analyst Julien Dumoulin-Smith downgraded First Solar (FSLR) to Neutral from Buy with a $91 price target. The analyst stated that the stock has outperformed the TAN solar ETF by 12% and 23% respectively on trailing 6- and 12-month basis, but with Section 201 tariffs on bifacial panels increasingly likely to not be extended, its future is "less clear."
- Argus analyst Kristina Ruggeri downgraded Church & Dwight (CHD) to Hold from Buy. The company is still facing challenges in meeting demand due to shortages of labor and materials, with margins also pressured by rising costs that have not been fully offset by price increases, the analyst argued.
- RBC Capital analyst Brian Abrahams downgraded Vertex Pharmaceuticals (VRTX) to Sector Perform from Outperform with an unchanged $269 price target. With shares now up 40% in the past 2.5 months, the stock appears to be trading at "less of a significant disconnect to potential fair value," the analyst contends.
Top 5 Coverage Initiations:
- Wells Fargo analyst Neil Kalton initiated coverage of Constellation Energy (CEG) with an Overweight rating and $65 price target after Exelon (EXC) completed the spinoff of the company. BMO Capital analyst James Thalacker also started coverage of Constellation Energy with an Outperform rating and $65 price target, suggesting a 23% total return.
- Citi analyst Eric Lau resumed coverage of Stanley Black & Decker (SWK) with a Buy rating and $215 price target following fourth quarter results.
- Stifel analyst Chris O'Cull initiated coverage of Mister Car Wash (MCW) with a Hold rating and $20 price target. His Hold rating reflects a positive view towards Mister's growth prospects, tempered by a belief the valuation is fair.
- William Blair analyst Andrew Brackmann initiated coverage of Sight Sciences (SGHT) with an Outperform rating and no price target. The company faces a "large and relatively untapped" market opportunity with potential for intermediate-term upside, Brackmann argued.
- Benchmark analyst Reuben Garner initiated coverage of FGI Industries (FGI) with a Speculative Buy rating and $8.50 price target. FGI is relatively small in the "rather large, fragmented market" of Kitchen & Bath, or K&B suppliers, but he views the company's advantages over smaller peers as an opportunity to gain market share, making it "an attractive way to play secular trends in the K&B market relative to the peer group."
Symbols:
SEDG PODD DXCM CHRW NVR - $5,480.00 /
-18.99 (-0.35%)
GKOS ALC FB - $243.71 /
-79.34 (-24.56%)
GPS CHD - $102.84 /
-0.345 (-0.33%)
VRTX CEG EXC SWK MCW SGHT FGI FSLR Keywords: analyst, analyst calls, upgrades, downgrades, initiations, research, wall street