Major Analyst Upgrades Drive Market Activity
Wall Street analysts issued numerous significant stock rating changes Friday, with several major upgrades in the technology and energy sectors according to reports. Deutsche Bank upgraded Intuitive Machines from hold to buy, with analysts suggesting the space company presents an attractive risk-reward setup for the next 3-6 months. Sources indicate the firm sees Intuitive Machines as a “secular winner” in the space exploration market.
In the energy sector, Wells Fargo initiated coverage on both Chevron and Exxon Mobil with overweight ratings. The analysis reportedly suggests Chevron should lead on stable dividend growth, while Exxon Mobil offers significant optionality beyond pure defensiveness. These moves come amid ongoing fossil fuel market volatility and shifting energy demands.
Technology Sector Remains Analyst Focus
Several major technology companies received positive analyst attention according to Friday’s reports. Jefferies reiterated its buy rating on Nvidia, with analysts suggesting the entire semiconductor ecosystem is chasing Nvidia’s dominant position. The report states that competitors face a “multiyear disadvantage” against Nvidia’s scale.
Bank of America reportedly raised its price target for Advanced Micro Devices (AMD) to $300 from $250 while maintaining its buy rating. Analysts suggest AMD serves a multi-hundred billion dollar addressable market opportunity where it currently holds less than 30% value share. Meanwhile, JPMorgan initiated coverage on Credo Technology with an overweight rating, citing the company’s leverage to rising AI interconnect investments.
Banking and Financial Services Adjustments
Several financial institutions saw rating changes amid market volatility. Baird upgraded Zions Bancorp to outperform from neutral, recommending investors “buy the dip” after the regional bank’s shares declined approximately 13% following an 8-K filing regarding potential fraud on a syndicated loan.
Oppenheimer upgraded Jefferies to outperform from perform, with analysts reportedly citing the financial services company as their “favorite secular growth story” among traditional financial intermediaries. This upgrade follows industry developments in the financial sector and changing market conditions.
Retail and Industrial Upgrades
UBS upgraded Deere to buy from neutral, with analysts anticipating 2026 will be the last year of the company’s earnings downturn before recovery in 2027. Stifel similarly upgraded International Paper to buy from hold, suggesting the paper company is “approaching a pivot point of performance improvement.”
In the retail space, Bank of America reiterated Amazon as a buy rating, naming it their top large-cap pick in e-commerce. Analysts suggest Amazon’s projected share gains, growing grocery business, margin expansion from robotics, and ability to leverage its Prime user base for AI position the company well for future growth. UBS also initiated coverage on Planet Fitness with a buy rating, with their analysis suggesting significant EBITDA upside potential by 2027.
Cloud Infrastructure and Copper Mining Outlook
Morgan Stanley maintained its equal-weight rating on CoreWeave but expressed caution ahead of the company’s November earnings report. Analysts reportedly see a “high likelihood of a strong beat versus guidance and consensus” but note challenges in outperforming lofty investor expectations.
UBS reiterated Oracle as a buy and raised its price target to $380 from $360, calling the stock “too cheap” after the company raised its FY30 cloud infrastructure revenue guide by another $22 billion to $166 billion. This comes amid broader recent technology advancements in cloud services.
HSBC upgraded Freeport McMoRan to buy from hold, with analysts expecting the copper and gold miner to benefit from strength in commodity prices. The upgrade notes the company’s significant recent underperformance despite favorable market conditions for related innovations in renewable energy that typically drive copper demand.
Additional Analyst Actions
Other significant calls included Baird initiating coverage on Kontoor Brands at outperform, suggesting the clothing company is “underappreciated” following its Helly Hansen acquisition. JPMorgan upgraded BXP to overweight from neutral, citing the real estate investment trust’s strong leasing activity and coastal market portfolio.
Morgan Stanley initiated Option Care Health at overweight, positioning the healthcare company as well-positioned to capitalize on infusion care shifting into home and alternative sites. Barclays maintained its equal-weight rating on Tesla, noting the electric vehicle maker as a key beneficiary of tariff relief on U.S. production. These developments reflect broader market trends across multiple sectors as companies adapt to changing economic conditions. The diversity of these analyst calls highlights the varied opportunities that firms like those founded by H.G. Wells might find in today’s investment landscape, though in completely different contexts.
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