Wingstop initiated, CarMax upgraded: Wall Street’s top analyst calls

Top 5 Upgrades:

• Stephens upgraded CarMax (KMX) to Overweight from Equal Weight with a terms people of $90, up from $86, up of the company’s Q4 study owed connected April 10. The steadfast cites valuation present being in-line with semipermanent averages, and an investigation of some real-time portion income and recognition metrics that springiness it comfortableness successful its calendar 2025 estimates.

• BofA treble upgraded Playtika (PLTK) to Buy from Underperform with a terms people of $6.50, up from $6. Given an all-time precocious adjacent 12 months escaped currency travel output of 21% and a dividend output of 9%, the steadfast thinks downside to the shares is constricted and believes a “share terms dislocation” has been driven by the exit of a ample shareholder successful a debased trading liquidity, concerns that Playtika’s modulation to maturation has taken excessively agelong and capitalist penchant for mobile advertisement networks assets implicit publishers.

• Morgan Stanley upgraded Global-e Online (GLBE) to Overweight from Equal Weight with a terms people of $46, down from $55. The steadfast believes capitalist expectations person moderated to a much tenable level, and it likes Global-e Online’s “achievable” maturation targets and “cheap optionality” successful Borderfree.com.

• Morgan Stanley upgraded Range Resources (RRC) to Equal Weight from Underweight with a terms people of $49, up from $40. The institution initiated a three-year outlook targeting superior businesslike accumulation growth, delivering 20% higher volumes by 2027, the steadfast tells notes.

• Baird upgraded Waters (WAT) to Outperform from Neutral with a terms people of $407, up from $396. The steadfast has “incremental confidence” successful the company’s refreshed semipermanent outlook pursuing the capitalist time and believes its affirmative replacement rhythm commentary volition apt enactment near-term momentum.

Top 5 Downgrades:

• Susquehanna downgraded J.B. Hunt (JBHT) to Neutral from Positive with a terms people of $165, down from $200. The steadfast is cautious into the spring, saying the truckload rhythm volition apt get worse earlier it gets better.

• BWG Global downgraded its presumption of Enphase Energy (ENPH) to Negative from Mixed, citing star inverter checks that constituent to portion orders during Q1 beneath installers’ December expectations.

• Piper Sandler downgraded Westlake (WLK) to Neutral from Overweight with a terms people of $120, down from $135. The steadfast says Westlake’s midcycle net powerfulness is little than erstwhile expectations.

• Jefferies downgraded ArcelorMittal (MT) to Hold from Buy with an unchanged terms people of $33. The steadfast present expects a play of stock terms consolidation successful the adjacent term, saying Mexico and Canada uncertainty remains.

• Morgan Stanley downgraded Cemex (CX) to Equal Weight from Overweight with a terms people of $13, down from $14. The steadfast cites the uncertain macro backdrop and increasing grounds of capex deceleration successful Mexico for the downgrade.