Autodesk initiated, Norwegian Cruise downgrade: 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 Verisk Analytics (VRSK) to Buy from Hold with a price target of $235, up from $192. Verisk’s Q1 report “likely marks a trough,” with its organic growth improving to 5% year-over-year in Q2, and accelerating further in the second half of 2026, the firm tells investors in a research note.
Morgan Stanley upgraded PayPay (PAYP) to Overweight from Equal Weight with a price target of $23, down from $24. The firm says that while the company’s near-term catalysts remain limited, the stock’s risk/reward suggests the upside potential outweighs downside risk.
Wolfe Research upgraded AT&T (T) to Outperform from Peer Perform with a $29 price target. The company’s Q2 brought “stable and better than expected” unit economics, the firm tells investors in a research note.
KeyBanc upgraded Ameren (AEE) to Overweight from Sector Weight with a $122 price target. The firm believes increasing visibility around incremental load growth could position Ameren for a “meaningful earnings growth revision as early as this fall.”
KeyBanc upgraded Duke Energy (DUK) to Overweight from Sector Weight with a $139 price target. The firm says Duke is the most attractive defensive name in KeyBanc coverage, which drives the upgrade.
Top 5 Downgrades:
Truist downgraded Norwegian Cruise Line (NCLH) to Hold from Buy with an unchanged price target of $20. Following conversations over the past month with several senior executives in the travel industry and from examining “big data” on future cruise bookings and pricing, the firm continues to see second half and now Q1 of 2027 yields under modest pressure and does not “particularly like the set-up at the moment for cruise stocks,” with the exception of Viking Holdings (VIK).
KeyBanc downgraded Pegasystems (PEGA) to Sector Weight from Overweight without a price target. The company’s Q2 report showed lower annual contract value due to a tougher macro and selling backdrop as well as execution challenges, the firm tells investors in a research note. William Blair also downgraded Pegasystems to Market Perform from Outperform.
Citi downgraded Agilon Health (AGL) to Sell from Neutral with a price target of $105, up from $80. The firm sees a less favorable risk/reward following the stock’s recent rally.
Evercore ISI downgraded Zions Bancorp (ZION) to Underperform from In Line with a price target of $68, down from $74. The firm expects mounting funding pressures to limit the degree of net interest income upside as rate hikes take hold, which has contributed to its below consensus earnings forecasts.
KeyBanc downgraded Southern Company (SO) to Underweight from Sector Weight with a $79 price target. The firm cites the stock’s premium valuation and Southern ‘s elections overhang for the downgrade.