The most talked-about and market-moving market research calls on Wall Street are now in one place. Here are today’s research calls that investors should know about, compiled by The Fly.
Top 5 updates:
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Argos updated chipotle (CMG) to buy from hold with a $40 price target. The firm believes the company’s cautious guidance will likely be exceeded as comparable sales accelerate through the remainder of 2026.
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BofA updated Ulta Beauty (ULTA) to Buy from Neutral with a price target of $685. Guidance for modest leverage in FY26 has sent the stock down 26% from its 52-week high, but the pullback has “brought elevated investor expectations to earth” and creates an “opportunity to invest in a high-quality composite at a discount to peers,” the firm tells investors.
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Updated Stephens Cullen/Frost (CFR) to Overweight from Equal Weight with an unchanged price target of $164. The company, which believes the benefits of its organic expansion strategy will accelerate and progressively contribute to the company’s profitability and growth, also feels that management direction “remains conservative,” the company tells investors.
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JPMorgan updated Convincing (CCOI) to Overweight from Neutral with a price target of $22, up from $23. The company cites valuation for improvement following the stock’s pullback on Monday.
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Raymond James updated Devon Energy (DVN) to Strong Buy from Outperform with a price target of $72, up from $62. With the closing of the Coterra Energy merger, Devon has “multiple options” to close its valuation gap relative to peers, the company tells investors in a research note.
Top 5 Downgrades:
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Piper Sandler degraded Roblox (RBLX) to Neutral from Overweight with a $50 price target, down from $100. The firm cites the company’s “weak” outlook for downgrade in the second quarter and notes that obstacles in Roblox’s age verification create “very little” visibility in the near term.
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Piper Sandler degraded Tractor supply (TSCO) to Neutral from Overweight with a price target of $36, up from $51. Piper downgrades Tractor after eight years of recommending the stock as he believes pet trends may be in structural decline for Tractor Supply for several years due to rising pet ownership costs.
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BofA reinstated Lowe’s (LOW) at Neutral, down from the previous Buy rating, with a price target of $260. The firm believes risk/reward is balanced at current levels as earnings growth is limited and lacks a catalyst while real estate activity remains subdued.
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Northland discounted Aviat Networks (AVNW) to Market Perform from Outperform with a $20 price target, down from $30. The firm cites lower-than-expected fiscal third-quarter results and reduced fiscal 2026 revenue and EBITDA outlook for downgrade.
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BofA discounted inspire doctor (INSP) to Neutral from Buy with a price target of $53, down from $120. While the company still believes in Inspire’s product, acknowledges that it has good gross margins and sees strategic value, BofA maintains that the path back to growth “becomes increasingly difficult to support each quarter.”