Here are the biggest calls on Wall Street on Friday:

Cantor upgrades SoundHound to overweight from neutral

Cantor says investors should buy the dip.

“We raise our rating on SOUN to OW (from Neutral) and raise our 12-month PT to $15 (from $13), and would take advantage of the recent pullback in shares.”

Loop initiates QXO as buy

Loop says the building products company has a durable portfolio.

“We are initiating coverage of QXO with a BUY rating and a $31 price target.”

Citigroup initiates Boeing at buy

Citi says it’s bullish on the planemaker.

“We rate BA Buy with a $265 YE26 PT. New Management is the Megatrend. We are as bullish on new management as an analyst could reasonably be. Strong top down and bottom up tailwinds support our view.” Read more.

JPMorgan upgrades Citigroup to overweight from neutral

JPMorgan says it sees “strong-related markets activity” for the banking giant.

“These should continue to improve Citi’s profitability over time - RoTCE should increase more than peers. Valuation has improved from the lows and improvement in profitability will be the key driver to further upside - this is a multi-year journey for Citi. Hence, we are upgrading Citi to Overweight relative to peers.” Read more.

UBS upgrades American Airlines to buy from neutral

UBS sees expanding profits for the airline.

“We upgrade to Buy as we believe the market is not fully appreciating AAL’s opportunity to meaningfully expand profits over the next few years as its corporate revenues recover, its loyalty income expands, & it capitalizes on the structural tailwinds to network players. We calculate that corporate recapture could be a 80-100 bps RASM/Revenue tailwind to American in 2026.”

Morgan Stanley reiterates Costco as overweight

Morgan Stanley says it’s sticking with the stock following earnings on Thursday.

“Solid execution in membership, fee income and core-on-core profitability, as comps appear ready for re-acceleration into the spring. Digital opportunity substantial, as COST pursues strategic retail media and AI initiatives at a prudent, deliberate pace.”

Stifel reiterates Micron Technology as buy

Stifel raises its price target to $300 per share from $195 ahead of earnings next week.

“Memory has been on a tear. Further strengthening in AI infrastructure demand has proven a tipping point, and memory prices are rallying hard into yr-end. Next week, we expect Micron to report and guide for meaningful upside to its F1Q(Nov) results and F2Q(Feb) outlook.”

Truist initiates Ralliant at buy

Truist says the industrial tech company is poised for a re-rating.

“With ~$2B in annual sales, stronghold positions in attractive growth markets, and a proven operating playbook inherited from Danaher, RAL offers a compelling combination of cyclical and stable/high-margin businesses and a portfolio positioned for profitable growth tied to electrification and digitization, grid modernization, and defense technology.”

Deutsche Bank upgrades Allegiant to buy from hold

Deutsche says shares of the discount airline are too attractive to ignore.

“Allegiant (ALGT) shares, which are down 11% year-to-date, look attractive as the company has jettisoned its loss-making resort, management are now 100% focused on running the airline, and various opportunities are likely to surface in the domestic market as the low fare carrier sector continues to evolve.”

Mizuho upgrades Cousins Properties to outperform from neutral

Mizuho says investors should buy the dip in the REIT.

“Why upgrade CUZ? Following its recent underperformance, CUZ trades at an 8.5x FFO multiple versus its 5-yr average of 11x, and the current risk premium of 420bps also 60bps higher (cheaper) than pre-Covid, suggesting the market is pricing in a fair amount of risk already.”

Morgan Stanley reiterates Disney as overweight

Morgan Stanley is bullish on Disney’s partnership with OpenAI.

“Long-term, it is important for Disney to engage consumers with its brands and franchises on emerging platforms leveraging new technology - like AI.”

TD Cowen initiates Tyler Technologies at buy

TD Cowen sees durable growth for the software company.

“TYL is the leading vendor in the public sector market, which is a large, stable market.”

TD Cowen reiterates Alphabet as buy

TD Cowen raises its price target to $350 per share from $335.

“We are raising GOOG Search estimates on our positive US survey data which indicates i) ramping Gemini chatbot usage following the launch of Gemini 3, ii) continued increases in Search engagement driven by AI Mode and AI Overviews usage, and iii) an increasing share of ChatGPT users that are also using Gemini.”

Wells Fargo initiates Celcuity at overweight

Wells says the biotech company is best positioned.

“We initiate CELC at OW, $126 PT.”

Truist upgrades Lantheus to buy from hold

Truist says shares of the radiopharmaceuticals company are compelling.

“We may be a touch early, but we see LNTH’s 4Q26–2027 growth/profit re-accel. prospects as compelling...”

JPMorgan initiates SouthState Bank Corporation at overweight

JPMorgan says shares of the community bank have upside.

“We are initiating coverage of SouthState Bank Corporation (SSB) with an Overweight rating and a $115 December 2026 price target.”

UBS upgrades Devon Energy to buy from hold

UBS sees an “improving oil backdrop” for the energy company.

“We upgrade DVN to Buy and increase our PT to $46.”

DA Davidson initiates Life360 at buy

DA Davidson says the technology platform that connects people is firing on all cylinders.

“We believe Life360 is on the cusp of establishing broader awareness in many underpenetrated countries, which we think will result in outsized international MAU growth.”

Jefferies initiates Zurn Elkay Water Solutions at buy

Jefferies says the water company has plenty more room to run.

“We initiate coverage of Zurn Elkay Water Solutions (ZWS) with a Buy rating and a $58 PT.”

JPMorgan upgrades Gaming and Leisure Properties to overweight from neutral

JPMorgan upgrades the REIT following upbeat management meetings.

“We had a constructive meeting with GLPI’s management during this week’s Nareit REITworld conference.”

JPMorgan downgrades Roblox to neutral from overweight

JPMorgan says investors should take a “breather.”

“Roblox: Downgrade from Overweight to Neutral. RBLX engagement inflected higher in 2025, with viral hits such as Grow a Garden and Steal a Brainrot reaching unprecedented scale and driving bookings growth far above the company’s 20% annual target.”

UBS initiates AppFolio at buy

UBS says the cloud-based property management software company is firing on all cylinders.

“We are launching coverage of AppFolio, a cloud-based property management software provider, with a Buy rating and a $285 PT.”

Mizuho upgrades Magnolia Oil and Gas to outperform from neutral

Mizuho says shares of the energy company are attractive.

“MGY offers an attractive combination of modest volume growth, a strong balance sheet and above-average/growing cash returns – and has consistently delivered on this model over the past several years.”

Barclays upgrades CBOE to overweight from equal weight

Barclays sees robust growth for the exchange company.

“We upgrade Cboe to Overweight from Equal Weight. Cboe has enjoyed healthy growth over the past several years in the index options franchise in particular.”

JPMorgan upgrades Clear Secure to overweight from neutral

JPMorgan says the verification company is undervalued.

“Clear has the highest short interest among our coverage… we think YOU estimates have more upside than any company under our coverage in 2026 and Clear has one of the biggest catalysts with its five-year Amex partnership expiring at June-end.”

Guggenheim upgrades Bristol-Myers to buy from neutral

Guggenheim says the biopharma company is compelling.

“We are upgrading BMY to BUY (from Neutral) with a $62/shr PT ahead of a 2026 that we believe offers a much more compelling value-oriented and pipeline-driven risk/reward.”

Bank of America reiterates Broadcom as buy

BofA raised its price target to $500 per share from $460 following earnings.

“We rate Broadcom Buy due to its high-quality diversified exposure to secular product cycles in the smartphone, cloud data center, telecom and enterprise storage markets.”

JPMorgan names Amazon a top idea for 2026

JPMorgan says Amazon is attractive heading into 2026.

“AWS Accel & Solid Stores Growth w/Margin Expansion, & FCF Set to Double; Attractive Valuation.”