Salesforce downgraded, Charter upgraded: Wall Street's top analyst calls

Salesforce downgraded, Charter upgraded: Wall Street's top analyst calls
Salesforce downgraded, Charter upgraded: Wall Street's top analyst calls

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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:

  • Citi upgraded Charter (CHTR) to Neutral from Sell with a $350 price target. Valuation has receded, the core broadband operating environment for Q3 seems stable with prior commentary, and ACP retention seems to be going better than expected for the category, the firm tells investors in a research note.

  • Jefferies upgraded Williams-Sonoma (WSM) to Buy from Hold with a price target of $156, up from $148. The firm sees greater than15% upside ahead with earnings outperformance and a valuation re-rating.

  • Wells Fargo upgraded One Gas (OGS) to Overweight from Equal Weight with a price target of $80, up from $71. The firm is "encouraged" by the company's recent regulatory and cost trends and likes its "strong credit metrics, pure play strategy and gas-friendly landscape."

  • Wolfe Research upgraded Antero Resources (AR) to Outperform from Peer Perform with a $37 price target. Following a broad sector decline that has seen Antero pull back nearly 16% since mid-July, the firm sees improved risk-reward that now has near-dated gas price risk discounted.

  • Erste Group upgraded AstraZeneca (AZN) to Buy from Hold, citing strong sales growth for the company's oncology products

Top 5 Downgrades:

  • Erste Group downgraded Salesforce (CRM) to Hold from Buy, saying the company's sales growth this year and next will be lower than in previous years.

  • Goldman Sachs downgraded Morgan Stanley (MS) to Neutral from Buy with a price target of $105, down from $122. The firm sees a faster growth rate for banks with a more capital markets skew as a percent of total revenue than Morgan Stanley.

  • BofA downgraded Novartis (NVS) to Neutral from Buy with a price target of $130, down from $135. The firm says Novartis has slower catalysts in the second half of 2024 as well as some risks.

  • Piper Sandler downgraded Supernus Pharmaceuticals (SUPN) to Neutral from Overweight with a price target of $36, down from $41. The firm says the sizable uptick in prescription growth for Qelbree that it expected amid the back-to-school season "has not quite come to pass."

  • Truist downgraded ANI Pharmaceuticals (ANIP) to Hold from Buy with a price target of $60, down from $80. Closure delays of the Alimera Sciences (ALIM) acquisition imply potential post due diligence issues, likely on manufacturing deficiencies of Yutiq, the firm tells investors in a research note.