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:

• Evercore ISI double upgraded Vornado Realty Trust (VNO) to Outperform from Underperform with a price target of $38, up from $32. The stock is up 17% year-to-date and has outpaced the real estate investment trust index since the start of the year, but most of that outperformance occurred post the Q2 results in early August and there are several additional catalysts over the next 6 to 12 months that could allow the stock to keep outperforming, the analyst tells investors in a research note.

• Bernstein upgraded BioMarin (BMRN) to Outperform from Market Perform with a price target of $110, up from $94, ahead of the September 4 investor day. The analyst believes the risk/reward on Voxzogo estimates "skews favorable," with almost no value in the shares assigned to indications beyond achondroplasia and hypochondroplasia, and a bearish share outlook versus FGFRi's largely priced in.

• Scotiabank upgraded Antero Resources (AR) to Outperform from Sector Perform with a price target of $44, up from $40. At the company level, the Q2 reporting season was "subdued compared with the excitement" that took hold earlier in the year, but in light of the pullback in the sector and what the firm views as bullish factors for 2025 and 2026 natural gas prices, the analyst believes it is time to ramp up exposure to the natural gas space, calling Antero "a high-torque option that looks good at strip and great at $4/mmBtu."

• Scotiabank upgraded Range Resources (RRC) to Outperform from Sector Perform with an unchanged price target of $45. The firm calls Range "a high-quality option that has pulled back enough to create an attractive entry point."

• OTR Global upgraded its view of Workday (WDAY) to Positive from Mixed, citing checks that showed partners met or exceeded their deal-closure expectations during Q2.
  

Top 5 Downgrades:

• Daiwa downgraded JPMorgan (JPM) to Outperform from Buy with a $240 price target. The firm still recommends the stock, but it now sees more "narrowed" upside following the stock's strong performance over the past two years.

• UBS downgraded Globant (GLOB) to Neutral from Buy with a price target of $235, up from $225. The market already priced in Globant leading the sector's recovery back to growth, the analyst tells investors in a research note.

• JPMorgan downgraded AvidXchange (AVDX) to Neutral from Overweight with a price target of $9, down from $11. The firm says weakness in monetization and volume in Q2 defied its positive thesis that AvidXchange's business model should be relatively resilient.

• Evercore ISI downgraded Cousins Properties (CUZ) to In Line from Outperform with an unchanged price target of $29. The analyst continues to like the stock and believes Cousins management is well positioned to keep on moving forward on the leasing and development front, but the shares have outperformed the real estate investment trust index by over 900 basis points this year, and there is better value near term in Vornado, the analyst tells investors.

• Northland downgraded Titan Machinery (TITN) to Market Perform from Outperform after the company negatively preannounced Q2 results and lowered FY25 guidance last week. Weaker equipment demand drove the shortfall, notes the firm, which has revised its financial forecast to align with the low-end of guidance and said it will revisit its rating "once we sense that OEM production and dealer inventories are closer to aligning with end market demand."