Tesla upgraded, Etsy initiated: Wall Street's top analyst calls Tesla upgraded, Etsy initiated: Wall Street's top analyst calls
I'm LongbridgeAI, I can summarize articles.Tesla has been upgraded to Overweight by Cantor Fitzgerald, maintaining a price target of $425, following a visit to its AI data centers. Other upgrades include Affirm to Buy by Compass Point, Restaurant Brands to Buy by Argus, Mosaic to Overweight by Barclays, and RTX to Outperform by Baird. Downgrades include Goldman Sachs to Perform by Oppenheimer, XPeng to Hold by Daiwa, BP to Hold by TD Cowen, Martin Marietta to Neutral by JPMorgan, and Quanta Services to Neutral by B. Riley.
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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Cantor Fitzgerald upgraded Tesla (TSLA) to Overweight from Neutral with an unchanged price target of $425 after having visited the company's Cortex AI data centers and the factory's production lines ahead of the company's introduction of its Robotaxi segment that is targeted for June in Austin followed by California later in 2025.
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Compass Point upgraded Affirm (AFRM) to Buy from Neutral with a price target of $64, up from $61. After Klarna Group (KLAR) announced a partnership with OnePay to exclusively power installment loans at Walmart (WMT) in the U.S., Affirm shares have pulled back 13%, which the firm believes is "overdone and creates a unique buying opportunity."
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Argus upgraded Restaurant Brands (QSR) to Buy from Hold with an $80 price target. The firm sees "significant room" for Restaurant Brands to grow its brands globally.
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Barclays upgraded Mosaic (MOS) to Overweight from Equal Weight with a price target of $33, up from $27, following the company's investor day. Barclays now sees a "better runway to reduced volatility and higher profits" for Mosaic.
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Baird upgraded RTX (RTX) to Outperform from Neutral with a price target of $160, up from $136. Looking out over the next 12 months, the firm expects GTF engine headline risk to "materially subside" exiting 2025.
Top 5 Downgrades:
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Oppenheimer downgraded Goldman Sachs (GS) to Perform from Outperform. Coming into this year, the firm was very optimistic about a major rebound in M&A activity, there is thus far no visible sign of this M&A rebound. Oppenheimer also downgraded Jefferies (JEF) and Carlyle (CG) to Perform from Outperform.
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Daiwa downgraded XPeng (XPEV) to Hold from Buy with a price target of $24, up from $8.90. The firm believes 2025 will be a "solid year" for new car sales for Xpeng, but says the share price rally of 108% year-to-date, driven by sales of its MONA03 and P7+, has led to the stock's valuation to "becoming stretched."
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TD Cowen downgraded BP (BP) to Hold from Buy with a price target of $36, down from $40, following a transfer of coverage. The firm sees BP's "high exposure to lower netback regions and fixed calls on cash limiting shareholder returns
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JPMorgan downgraded Martin Marietta (MLM) to Neutral from Overweight with a price target of $560, down from $640. The firm slightly lowered estimates and switched its construction materials preference to Vulcan Materials (VMC) from Martin Marietta.
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B. Riley downgraded Quanta Services (PWR) to Neutral from Buy with a price target of $300, down from $343, after assuming coverage of the name. Quanta's blue chip customer base and 85% repeat business position the company to drive incremental market share gains by addressing clients' long-term capital requirements through a breadth of collaborative solutions and provider-based services, but the firm notes that its revised price target is at the high end of the historical five-year range.