Wall Street's highly regarded research ratings that can influence market trends have been compiled here. Below are the notable rating changes for investors to focus on today, as organized by the source.

Five companies upgraded:

Raymond James: Upgraded Capri Holdings CPRI from “Market Perform” to “Outperform,” with a target price of $25. The firm conveyed to investors that, following several years of challenges, Capri Holdings is showing positive transformation trends; improved demand signals, conservative performance guidance for FY26, and potential upward revisions for FY27's performance all provide support.

Citigroup: Upgraded Sunrun RUN from “Neutral” to “Buy,” raising the target price from $11 to $26. Citigroup noted that rising electricity prices benefit Sunrun, and the market's shift towards the “third-party ownership” (TPO) model enhances the company's bargaining power with suppliers, serving as a second growth driver.

Citigroup: Upgraded Nextracker NXT from “Neutral” to “Buy,” with the target price increased from $66 to $114. According to Citigroup, Nextracker currently holds a dominant position in global tracker sales for solar frameworks and has acquired several related businesses. By FY30, these acquisitions are expected to contribute one-third of its revenue.

Leerink: After the European Society for Medical Oncology (ESMO) unveiled data from the “STELLAR-303 Phase III Trial,” upgraded Exelixis EXEL from “Market Perform” to “Outperform,” increasing the target price from $38 to $48. The trial assessed the efficacy of “zanzalintinib plus atezolizumab” versus “regorafenib” in treating “non MSI-high” metastatic colorectal cancer. Although the share price fell 12% post-data release, Leerink believes the trial confirmed several critical factors vital to its long-term investment logic.

Bank of America: Upgraded Eversource ES from “Neutral” to “Buy,” with the target price raised from $73 to $85. Bank of America noted that the regulatory environment in Eversource's core business areas is gradually improving, and they anticipate the company’s earnings per share (EPS) will see approximately 6% growth by 2029, supporting its total return.

Five companies downgraded:

JPMorgan: Downgraded Goldman Sachs GS from “Overweight” to “Neutral,” raising the target price from $625 to $750. JPMorgan indicated that while they are willing to pay a valuation premium for top-tier investment banks like Goldman Sachs and Morgan Stanley MS, Goldman’s current multiple of 14x and Morgan Stanley's 15.2x based on FY27 earnings forecasts appear too high relative to about 80% premium levels of European investment banks.

BNP Paribas Exane: Downgraded Verizon VZ from “Outperform” to “Neutral,” setting a target price of $44. The firm stated that its “simple view” over recent years was to “hold wireless stocks rather than cable stocks,” but recent CEO transitions at Verizon have raised market skepticism regarding its strategic direction and commitment to defending market share.

BNP Paribas Exane: Downgraded NuScale Power SMR from “Neutral” to “Underperform,” lowering the target price from $41 to $25. The firm expects NuScale's cumulative shipments to reach around 4 GW by 2040. According to partnership milestone agreements, NuScale must pay ENTRA1 over $6 billion over the next 15 years. Additionally, Citigroup also downgraded NuScale from “Neutral” to “Sell,” with a target price cut from $46 to $37.50, citing concerns over Fluor FLR potentially further divesting from NuScale, current overvaluation, and low likelihood of NuScale contracting with the Tennessee Valley Authority (TVA) in the short to medium term.

TD Cowen: Downgraded Tempus AI TEM from “Buy” to “Hold,” with the target price raised from $72 to $88. The firm noted that Tempus AI’s stock has risen 160% year-to-date, reaching reasonable valuation levels.

Wells Fargo: Downgraded Cleveland-Cliffs CLF from “Equal Weight” to “Underweight,” maintaining a target price of $11. Wells Fargo believes that the recent 22% increase in shares on Monday, October 20, 2025, reflects “overly optimistic” sentiment.

Five companies with initial rating coverage:

Clear Street: Initiated coverage on Coinbase COIN with a “Buy” rating and a target price of $406. The firm believes that many asset classes will shift toward on-chain solutions, benefiting Coinbase significantly.

Clear Street: Initiated coverage on Circle Internet CRCL with a “Hold” rating and a target price of $135. The firm expressed a preference to maintain a wait-and-see approach until more attractive entry points appear.

Clear Street: Initiated coverage on Bullish BLSH with a “Hold” rating and a target price of $60. Clear Street recognizes Bullish’s long-term potential but notes that the stock has already risen 54% since its IPO in August 2025, leading them to adopt a wait-and-see stance at current valuation levels.

Morgan Stanley: Resumed coverage on Zoom Communications ZM with an “Equal Weight” rating and a target price of $85. Analysts indicated that while Zoom’s current valuation is “not overly high” and there is limited downside potential, further significant growth acceleration signals are needed to drive additional upwards valuation adjustments.

KeyBanc: Initiated coverage on Hims & Hers HIMS with a “Sector Weight” rating and did not set a target price. The firm expressed interest in Hims & Hers' international expansion and treatment business growth but noted that this might result in more moderate profit margin growth in 2026.