Micron upgraded, PayPal downgraded: Wall Street's top analyst calls

1 week ago 6

The Fly

Thu, December 18, 2025 astatine 8:50 AM CST 3 min read

The astir talked astir and marketplace moving probe calls astir Wall Street are present successful 1 place. Here are today's probe calls that investors request to know, arsenic compiled by The Fly.

Top 5 Upgrades:

BofA upgraded Micron (MU) to Buy from Neutral with a terms people of $300, up from $250. Though determination whitethorn beryllium immoderate volatility successful AI demand, HBM is sold retired again passim calendar 2026 and customers are engaged successful multi-year agreements, positioning Micron for a perchance much sustainable upcycle than successful anterior cycles, the steadfast tells investors.
Baird upgraded Rivian (RIVN) to Outperform from Neutral with a terms people of $25, up from $14. The steadfast says 2026 is the twelvemonth of the R2 launch.
Jefferies upgraded GE Vernova (GEV) to Buy from Hold with a terms people of $815, up from $736. Shares are down since the company's expert day, though the steadfast is much affirmative connected the outlook for Power fixed state pricing and services visibility and the outlook for electrification arsenic well.
BMO Capital upgraded Merck (MRK) to Outperform from Market Perform with a terms people of $130, up from $82. The steadfast says the institution is assembling a portfolio to turn done the Keytruda nonaccomplishment of exclusivity.
JPMorgan upgraded Shake Shack (SHAK) to Neutral from Underweight with a terms people of $90, down from $95, aft speaking with management. The steadfast cites valuation for the upgrade pursuing the stock's caller pullback.

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Top 5 Downgrades:

Morgan Stanley downgraded PayPal (PYPL) to Underweight from Equal Weight with a terms people of $51, down from $74. The steadfast says the improvements to the company's branded checkout integrations volition beryllium "slow and complex."
RBC Capital downgraded Lennar (LEN) to Underperform from Sector Perform with a terms people of $95, down from $106. The steadfast cites the company's "weak" Q4 results and Q1 guidance, portion noting that the expectations astir a betterment successful borderline aboriginal this twelvemonth inactive contiguous hazard to FY26 earnings. Evercore ISI and BofA besides downgraded Lennar to Sell-equivalent ratings.
William Blair downgraded Progressive (PGR) and Allstate (ALL) to Market Perform from Outperform without terms targets. The steadfast chopped its near-term presumption connected the car security sector.
Morgan Stanley downgraded Cinemark (CNK) to Equal Weight from Overweight with a terms people of $28, down from $35, citing a lowered container bureau forecast and a 10% simplification successful FY26 and FY27 adjusted EBITDA estimates.
Maxim downgraded Two Harbors (TWO) to Hold from Buy aft UWM Holdings (UWMC) announced a definitive merger statement to get the institution successful an all-stock transaction valued astatine $1.3B successful equity value.