Wall Street’s top analyst calls

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:

• Wedbush upgraded DoorDash (DASH) to Outperform from Neutral with a $260 price target. The firm notes DoorDash has retained a leading competitive position within the U.S. food and delivery market and continues to execute well across strategic initiatives as management positions the company for long-term sustainable growth.

• JPMorgan double upgraded Circle Internet (CRCL) to Overweight from Underweight with a price target of $100, up from $94. Circle reported solid Q3 results with key metrics exceeding expectations, the firm tells investors in a research note.

• Wells Fargo upgraded Nike (NKE) to Overweight from Equal Weight with a price target of $75, up from $60. The firm says visibility into Nike’s sales and margins “is finally improving.”

• Wedbush upgraded Booking Holdings (BKNG) to Outperform from Neutral with a $6,000 price target. The firm notes Global travel demand was healthy relative to expectations this quarter, and Booking remains the best positioned OTA given the company’s global scale and diversification, strong liquidity and free cash flow conversion, and track record of successful execution across key strategic initiatives.

• Goldman Sachs upgraded AutoZone (AZO) to Buy from Neutral with a price target of $4,262, up from $4,090. The firm sees an attractive risk/reward opportunity following the stock’s recent selloff.

Top 5 Downgrades:

• Goldman Sachs double downgraded Dollar Tree (DLTR) to Sell from Buy with a price target of $103, down from $133. The shares are now pricing in the company’s better fundamentals and upside from here “gets harder,” firm says.

• Wolfe Research downgraded Fastenal (FAST) to Underperform from Peer Perform with a $43 price target. The company’s sales have been decelerating, and Wolfe now sees inflationary pressures beginning to weigh on its gross margins.

• Craig-Hallum downgraded SoundThinking (SSTI) to Hold from Buy with a $10 price target. The firm notes the company delivered a wide Q3 miss while guiding down FY25.

• H.C. Wainwright downgraded Korro Bio (KRRO) to Neutral from Buy without a price target. The firm says that KRRO-110 “falling far short of therapeutic levels,” Korro must now rebuild investor confidence “from the ground up.” William Blair, Raymond James, Cantor Fitzgerald, Chardan, Clear Street, and RBC Capital also downgraded the stock to Neutral-equivalent ratings.

• Wells Fargo downgraded Cooper Companies (COO) to Equal Weight from Overweight with an unchanged price target of $72. With growth in the contact lens market decelerating, Cooper is less likely to outperform the market, the firm tells investors in a research note.