Here’s a summary of the most influential research views from Wall Street that can impact market movements. Below are today’s key rating changes compiled by The Fly.
**Five Upgraded Stocks**
Toll Brothers (TOL): JPMorgan upgraded the stock from "Neutral" to "Overweight," raising the price target from $138 to $161. The firm cited attractive valuations, noting Toll Brothers' gross and operating margins are "significantly above industry averages."
Toast (TOST): JPMorgan upgraded the stock from "Neutral" to "Overweight," maintaining a $43 price target. The firm suggested Toast’s earnings could be revised upward if transaction fee regulations are implemented.
Accelerant (ARX): Citizens JMP Securities upgraded the stock from "Market Perform" to "Outperform," setting a $20 price target. The firm argued that post-IPO weakness was due to "overblown concerns" about related-party business risks.
UMH Properties (UMH): Colliers upgraded the stock from "Neutral" to "Buy," raising the target from $16 to $17. The firm highlighted the manufactured housing sector’s "defensive attributes" and resilience amid broader economic challenges.
Descartes Systems (DSGX): Raymond James upgraded the stock from "Market Perform" to "Outperform," with a $118 target. The firm noted the stock’s EBITDA-based P/E ratio is near decade lows, positioning it well for a potential freight market recovery.
**Five Downgraded Stocks**
PayPal (PYPL): JPMorgan downgraded the stock from "Overweight" to "Neutral," cutting the target from $85 to $70. The firm called 2026 a "prove-it year" requiring execution and investment.
Sociedad Química y Minera (SQM): Goldman Sachs downgraded the stock from "Buy" to "Neutral," raising the target from $45 to $63. The firm noted the stock’s 80% YTD rally has outpaced fundamentals.
Lennar (LEN): JPMorgan downgraded the stock from "Neutral" to "Underweight," lowering the target from $118 to $115. The firm remains cautious on homebuilders for 2026.
Halozyme (HALO): Goldman Sachs downgraded the stock from "Neutral" to "Sell," setting a $56 target. The firm argued current valuations imply $34B in future revenue from new partnerships—a stretch even after the Elektrofi acquisition.
Fiserv (FISV): JPMorgan downgraded the stock from "Overweight" to "Neutral," keeping an $85 target. Similar to PayPal, 2026 is seen as a critical year for execution and investment.
**Five Newly Covered Stocks**
United Airlines (UAL): Citi initiated coverage with a "Buy" rating and $132 target, citing a favorable airline industry outlook and an "extended mid-cycle" in 2026. It also initiated Delta (DAL) and American (AAL) as "Buy," while Southwest (LUV) got a "Neutral."
GE Aerospace (GE): Susquehanna started coverage with a "Positive" rating and $350 target, highlighting GE’s dominance in commercial aviation engines (powering 3 in 4 flights) and growth in military engines.
Hershey (HSY): Jefferies reinstated coverage with a "Hold" rating and $181 target. While praising Hershey’s margin recovery amid cocoa cost pressures, it noted valuations are near decade highs.
Monday.com (MNDY): Guggenheim initiated coverage with a "Buy" rating and $250 target (64% upside), citing its shift from viral self-serve subscriptions to a sales-driven, multi-product enterprise model.
CAVA Group (CAVA): Truist started coverage with a "Buy" rating and $66 target, calling CAVA a leader in Mediterranean fast-casual dining with industry-leading growth potential.