The most talked about and market-moving research requests around Wall Street are now in one place. Here are today’s research calls that investors should know, as compiled by Fly.
Top 5 improvements:
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Bernstein ascended CVS Health (CVS) outperformed the market with a $94 price target above $91, which suggests a 23% upside. CVS has “attractive exposure” to changing drug profits and the potential for more stable earnings in its pharmacy business after the impact of reforms, the company told investors in a research note.
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Bernstein ascended Signa (CI) outperformed the market with a price target of $358 above $307. The company sees the combination of the pharmacy benefit manager reform bill and the FTC settlement, along with previously announced PBM model changes and economic impacts that Cigna described, as “cleanup events” that will multiply over time.
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Wells Fargo has been upgraded twice suddenly (OXY) from Underweight to Overweight with a $69 price target, up from $47. The company says the company’s leading oil sensitivity is both an opportunity and a risk, but it’s primarily Permian capital efficiency trends that inform its rating change. Piper Sandler also raised Occidental to overweight from $54 with a price target of $66.
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Williams’ business thrived Crocs (CROX) maintained from sell with a price target of $84. The company is valued at a raise with shares below the price target.
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Jeffries is promoted Petco (WOOF) Buy from Hold with a $5 price target, above $4.05. The company enters 2026 “with liquidity and profitability concerns headed for growth now in the rearview mirror,” the company said in a research note to investors.
Top 5 lowest ratings:
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Wells Fargo downgraded General Mills (GIS) from equal weight to underweight with a $35 price target, down from $45. The company sees a negative profit catalyst for General Mills.
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Wells Fargo downgraded Campbell (CPB) from equal weight to underweight with a $20 price target, down from $28. A “combination” of earnings risks, higher leverage and “lower” dividends will likely lead to an underperformance of the stock relative to peers, the company said in a research note to investors. Wells also downgraded Kangra Brands (CAG) from equal weight to underweight.
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JPMorgan downgraded MercadoLibre ( MELI ) from Overweight to Neutral with a $2,100 price target, down from $2,650. The company’s competition doesn’t seem to be getting any easier, with Shopee reiterating its ambitions by continuing to sacrifice margins in Brazil, the company said in a research note to investors.
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Citi is down General (GNRC) from Buy to Neutral with a $237 price target, up from $207. The company says the stock catalyst played out after the company’s 2026 earnings guidance met its above-consensus numbers.
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RBC’s capital is reduced to say (VALE) outperformed the sector above $14.50 with a $15.50 price target. The company is indicating a value for the lower rating after the recent re-rating of the shares.
