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:

• Jefferies upgraded DoorDash (DASH) to Buy from Hold with a price target of $260, up from $220. The firm believes faster growth in U.S. restaurant delivery over the past four quarters warrant a more bullish stance on the growth runway for DoorDash’s most profitable business.

• Nomura upgraded Baidu (BIDU) to Buy from Neutral with a price target of $140, up from $135. The firm believes that Baidu’s 69% owned chip-design subsidiary, Kunlunxin, offers “substantial growth potential” and it notes that management is considering enhancing capital returns, which it sees as likely to “enhance the appeal of the stock.”

• UBS upgraded Insulet (PODD) to Buy from Neutral with a price target of $400, up from $355, ahead of the analyst day. The firm believes the company can sustain its growth momentum through the end of the decade.

• Jefferies upgraded Zions Bancorp (ZION) to Buy from Hold with a price target of $60, up from $55. The stock pullback on the alleged fraud-related charge-off in Q3 combined with the “mini credit scare” among non-bank financials is overdone, the firm tells investors in a research note.

• Goldman Sachs upgraded Medtronic (MDT) to Neutral from Sell with a price target of $111, up from $81. Post Q2 results, the firm noted that the company’s new product momentum is picking up and overall P&L metrics have taken another step in the right direction.

Top 5 Downgrades:

• Wells Fargo downgraded Molson Coors (TAP) to Equal Weight from Overweight with a price target of $50, down from $53. Molson faces category softness, which is exacerbated by share losses and “tight” costs, the firm tells investors in a research note.

• Mizuho double downgraded Canadian Solar (CSIQ) to Underperform from Outperform with a price target of $21, up from $15. The firm says the impact of U.S. factory resolution remains uncertain.

• BofA downgraded BellRing Brands (BRBR) to Neutral from Buy with a price target of $28, down from $50, following “soft” Q4 results, a “contentious” FY26 outlook, and a cut to the company’s long-term sales algorithm.

• HSBC downgraded QuantumScape (QS) to Reduce from Hold with a price target of $10.50, up from $5.30. While the company has made progress on its targets and announced some key agreements and partnerships, visibility or the disclosure of contract economics remains limited, the firm tells investors in a research note.

• Truist downgraded GitLab (GTLB) to Hold from Buy with a price target of $44, down from $55. Truist sees the company facing low visibility and heightened execution risk in the face of a business model transition that is being forced by secular changes in the developer tools landscape.