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Key Analyst Upgrades and Initiations
Wall Street analysts issued numerous significant rating changes and initiations Friday, with several major financial institutions adjusting their outlooks on companies across the technology, energy, and consumer sectors. According to reports, Deutsche Bank upgraded Intuitive Machines from hold to buy, with analysts suggesting the space exploration company presents an attractive risk-reward setup for the next three to six months. The report states that Intuitive Machines is positioned as a “secular winner” in helping the U.S. and its allies prepare the Moon for human return.
In the energy sector, Wells Fargo initiated coverage on both Chevron and Exxon Mobil with overweight ratings. Analysts suggest Chevron is expected to lead on stable dividend growth, while Exxon Mobil is characterized not by pure defensiveness but by optionality. The positive outlook on these fossil fuel giants comes amid ongoing broader market trends influenced by strong financial sector performance.
Technology Sector Dominates Analyst Attention
The technology sector received substantial analyst attention, with Jefferies reiterating its buy rating on Nvidia. According to the analysis, following a global semiconductor conference, one clear takeaway emerged: “the entire ecosystem is chasing NVDA.” Sources indicate that competitors are attempting to catch up to Nvidia’s AI ecosystem at a multiyear disadvantage.
Bank of America maintained its buy rating on Advanced Micro Devices (AMD), raising its price target to $300 per share from $250. Analysts suggest AMD serves a multi-hundred billion addressable market opportunity where it currently has less than 30% value share. Meanwhile, JPMorgan initiated coverage on Credo Technology with an overweight rating, citing the company’s leverage to rising investments in AI interconnect solutions.
Morgan Stanley maintained an equal-weight rating on CoreWeave, expressing caution ahead of the company’s November earnings. Despite anticipating a strong beat versus guidance, analysts reportedly see a more difficult path to outperforming lofty investor expectations. In other technology developments, UBS reiterated its buy rating on Oracle, raising its price target to $380 per share and calling the stock “too cheap” after the company raised its FY30 cloud infrastructure revenue guide by another $22 billion.
Retail and Consumer Sector Updates
Several consumer-facing companies received analyst attention, with Baird initiating coverage on Kontoor Brands at outperform. The clothing company, which owns brands like Wrangler and Lee, is reportedly “underappreciated” following its transformation after the Helly Hansen acquisition.
Bank of America reiterated Amazon and Chewy as buy ratings, with both stocks identified as top ideas in e-commerce. According to reports, Amazon remains a top large-cap pick due to projected share gains from its growing grocery business, margin expansion from robotics, and its ability to leverage its Prime user base to build a strong position in agentic AI technology. For small to mid-cap stocks, analysts reportedly prefer Chewy for potential upside from share gains and margin expansion from automation.
UBS initiated coverage on Planet Fitness with a buy rating, with analysis suggesting the gym company has significant EBITDA upside potential through 2027. The report states that current valuation multiples imply roughly half of the potential upside identified in their deep-dive analysis of growth drivers.
Financial and Industrial Sector Movements
In the financial sector, Baird upgraded Zions Bancorp to outperform from neutral, suggesting investors should buy the dip after the regional bank’s stock declined approximately 13% following an 8-K filing regarding potential fraud on a ~$60 million syndicated loan. Oppenheimer upgraded Jefferies to outperform from perform, with analysts recommending buying the dip in the financial services company, which has long been considered a favorite secular growth story among traditional financial intermediaries.
UBS upgraded Deere to buy from neutral, anticipating 2026 will be the last year of the company’s earnings downturn before a recovery in 2027. Stifel upgraded International Paper to buy from hold, with analysts suggesting the paper company is “approaching a pivot point of performance improvement” following the DS Smith acquisition.
HSBC upgraded Freeport McMoRan to buy from hold, with the bank expecting the copper and gold miner to benefit from strength in commodity prices and noting significant recent underperformance. JPMorgan upgraded BXP to overweight from neutral, citing the real estate investment trust’s large portfolio covering key coastal markets and strong leasing activity. These industrial movements come amid broader industrial and technology infrastructure challenges affecting multiple sectors.
Barclays maintained its equal-weight rating on Tesla, identifying the electric vehicle maker as a key beneficiary of tariff relief on U.S. production since 100% of vehicles sold in the U.S. are made domestically. Morgan Stanley initiated Option Care Health at overweight, citing the healthcare company’s position as the key player to take advantage of infusion care shifting into the home and alternative sites. These diverse analyst perspectives reflect the ongoing evolution of investment strategies across multiple industries facing different market trends and economic conditions.
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