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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 5 Upgrades: Guggenheim upgradedSalesforce(CRM)to Buy from Neutral with a $228 price target, arguing that the fatal AI bear case on software is a "hallucination." Citi upgradedLockheed Martin(LMT)to Buy from Neutral with a price target of $582, up from $571.
The firm says the company's "cheap" valuation, improving fundamentals, and exposure to "fast growing themes" through its Missiles and Fire Control segment create an attractive risk/reward at current share levels.
Guggenheim upgradedCheck Point(CHKP)to Buy from Neutral with an $188 price target.
Check Point shares are trading significantly below the intrinsic value of its recurring revenue if it was run "hyper efficiently," and Check Point is taking the necessary steps to achieve its aspiration of double-digit top line growth, the firm tells investors in a research note.
Jefferies upgradedMurphy USA(MUSA)to Buy from Hold with a price target of $625, up from $550.
The firm says improving fuel margins and stronger execution drive a "materially higher" EBITDA outlook for Murphy.
Wolfe Research upgradedFox Corp.(FOXA)to Outperform from Peer Perform with a $71 price target.
The firm believes that Fox's merger with Roku(ROKU)shifts the debate about the resilience of Fox News and Fox Sports to a "more dynamic multi-channel growth story," and feels that while the price paid for Roku will dilute Fox's near-term multiple, Fox's "strong fundamentals, faster growth, and robust cash flow look incorrectly priced." RBC Capital downgradedDow Inc.(DOW)to Sector Perform from Outperform with a price target of $28, down from $51.
The firm cites declining polyethylene prices given a lack of permanent asset closures for the downgrade.
Wolfe Research downgradedSimon Property(SPG)to Peer Perform from Outperform without a price target.
The firm cites valuation for the downgrade, saying the "all-time high share price is a challenging entry point." Raymond James downgradedTruist Financial(TFC)to Market Perform from Outperform without a price target.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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