Buy/Sell: Wall Street’s top 10 stock calls this week

What has Wall Street been buzzing about this week? Here are the top 5 Buy calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of June 16-20. 

Find all top-rated stocks by the best-rated analysts on TipRanks.

Top 5 Buy Calls:

1. Roku upgraded to Buy at Loop Capital 

Loop Capital analyst Alan Gould upgraded Roku (ROKU) to Buy from Hold with a price target of $100, up from $80. The firm cites expectations that the Amazon.com (AMZN) advertising partnership announced should begin positively impacting Roku’s financial results starting next year for the upgrade. This development will further strengthen Roku’s position as the leading TV operating system in the U.S., the analyst tells investors in a research note. Loop says the partnership will integrate Roku and Amazon’s logged-in connected TV user bases, representing an estimated 80M households, through the Amazon demand-side platform. Roku contributes its “industry-leading” user base while Amazon “brings its unmatched shopping feedback loop,” the firm contends.

2. Seaport starts “top-tier crypto disruptor” Circle with a Buy

Seaport Research initiated coverage of Circle (CRLC) with a Buy rating and $235 price target, telling investors that the firm views Circle as “a top-tier crypto ‘disruptor’ with a sizeable future opportunity.” Seaport expects global adoption of stablecoins such as USDC, Circle’s flagship product, to grow rapidly from here on the back of an improving regulatory climate, adding that it sees the stablecoin “market cap” growing from roughly $260B today to potentially reach $2T over the longer-term. The firm sees Circle generating annual revenue growth of 25%-30% as this occurs, with the ability to drive operating leverage as it scales further, and believes shares merit “a premium valuation.”

3. Cisco upgraded to Buy at Deutsche Bank

Deutsche Bank analyst Matt Niknam upgraded Cisco (CSCO) to Buy from Hold with a price target of $73, up from $65. The firm sees improved visibility towards “durable” mid-single-digit growth in upcoming years for Cisco, with tailwinds from artificial intelligence, a Campus portfolio refresh, more favorable near-term competitive dynamics in Networking and improved scale in Security. Incremental growth in higher-margin revenues, alongside Cisco’s breadth of supply chain, enables it to more “deftly navigate” incremental tariffs and re-invest in growth, the analyst tells investors in a research note. Deutsche believes the company’s “significant” free cash flow generation should support incremental cash returns to shareholders via buybacks and dividend growth.

4. BofA starts SanDisk with a Buy amid improving memory pricing environment

BofA initiated coverage of SanDisk (SNDK) with a Buy rating and $61 price target. Given the near-term supply-demand balance, the pricing environment for NAND flash memory is “increasingly positive over the next few quarters,” says the firm, which Buy thesis is predicated on improving memory pricing as supply-demand has turned favorable; margin upside; better through-cycle economics; a JV structure that creates a unique shared capex profile and; a valuation that remains attractive relative to peers.

5. Cantor upgrades Analog Devices to Overweight, names top pick in group

Cantor Fitzgerald upgraded Analog Devices (ADI) to Overweight from Neutral with a price target of $270, up from $250. Analog Devices is a “best-in-class” analog company, with “outsized” industrial exposure which is preferential into the upcycle, the firm tells investors in a research note. Cantor says Analog is its favorite long-term investment within the group. It sees an “attractive pair opportunity” with expected outperformance versus peer Texas Instruments (TXN) through the early cycle. The firm says Analog Devices’ exposure is “well-suited to early innings of the recovery,” and that its “higher asset quality nature checks a huge box in uncertain times.”

Top 5 Sell Calls:

1. Sarepta downgraded to Sell at H.C. Wainwright 

H.C. Wainwright downgraded Sarepta (SRPT) to Sell from Neutral with a $10 price target. The company announced another death due to acute liver failure in a second non-ambulatory Duchenne muscular dystrophy patient treated with Elevidys, and is suspending shipments of the drug to non-ambulatory DMD patients until an immunosuppressive regimen can be agreed upon with regulators and implemented, the firm tells investors in a research note. Wainwright views Elevidys’ risk profile as now heightened for all DMD patients, including ambulatory DMD patients. H.C. Wainwright says that given the “underwhelming” clinical data supporting Elevidys efficacy across DMD subtypes, it anticipates that an increasing number of patients and physicians will opt against treatment unless robust long-term safety data emerges-particularly demonstrating a near-zero risk of treatment related mortality.

2. KeyBanc cuts solar names to Underweight on “overwhelming regulatory overhang”

KeyBanc analyst Sophie Karp downgraded Sunrun (RUN), Enphase Energy (ENPH) and SolarEdge (SEDG) to Underweight from Sector Weight after Senate Republicans released a bill that would end tax credits for wind and solar earlier than for other sources. The new version of the bill would end incentives for wind and solar in 2028, though tax breaks for other sources of power including nuclear, hydropower and geothermal would be allowed to remain until being phased out in 2036. KeyBanc cites the “ongoing and overwhelming regulatory overhang” for the downgrades. The Senate bill “fails to deliver optimism” and the solar provisions are “particularly punishing for the sector,” the analyst tells investors in a research note. KeyBanc’s price targets are $31 for Enphase, $6 for Sunrun, and $16 for SolarEdge.

GLJ Research analyst Gordon Johnson also downgraded Sunrun to Sell from Hold with a 1c price target following the firm’s analysis of Sunnova Energy’s (NOVA) “hidden ‘second set of books'” and the Senate’s tax-and-spend bill language. Barring SunRun’s ability to inflate the value of its solar systems to collect tax credits, the “underlying equity is worthless,” argues the analyst, who notes that the firm’s target implies 99% downside from yesterday’s closing price.

Additionally, GLJ Research downgraded SolarEdge to Sell from Hold with an unchanged price target of $6.90 following what the firm calls “surprisingly bearish” Senate tax-and-spend bill language. With SolarEdge still struggling in the U.S. and European markets, the expectation from many solar pundits, GLJ Research included, was that the Senate would extend the company an “olive branch” with a revival of the 48E 30% tax credit for solar companies, but that “is not in the cards” and the firm sees “a number of headwinds pointing to problems on the horizon.”

3. Freshpet initiated with a Sell at UBS

UBS initiated coverage of Freshpet (FRPT) with a Sell rating and $65 price target. The firm says consensus estimates for Freshpet are too high, and that “more subdued” growth in the near-term should cause the stock’s valuation to contract further. The current share price is pricing in mid-to-high teens revenue growth over the next few years, versus UBS expectations for low double digits, UBS tells investors in a research note. The firm says Freshpet’s growth building blocks have deteriorated, with the company displaying softer trends in purchase frequency, repeat rates, and velocity.

4. Novavax initiated with a Sell at Citi

Citi initiated coverage of Novavax (NVAX) with a Sell rating and $6 price target. The firm acknowledges vaccines remain a “key cornerstone” to global health and that Novavax’s technologies could contribute to the creation of innovative, new ones. However, the company’s “overwhelming concentration” in respiratory vaccines, an area that is seeing a decline in vaccination rates and has many entrenched players, along with healthcare policies that are “in flux” and “not encouraging” towards vaccines, makes it challenging to establish a line of sight to success for Novavax, Citi tells investors in a research note.

5. BofA cuts FrontView REIT to Underperform after second CFO fired in two months  

BofA downgraded FrontView REIT (FVR) to Underperform from Neutral with a price target of $11, down from $15, after the company announced the appointment of Sean Fukumura as Interim Chief Financial Officer, effective immediately, following the the board’s decision to terminate Randall Starr for cause. It will be challenging for management to focus on financing and executing its growth plans given the loss of one of the company’s key members and the firm thinks a discount multiple relative to peers is warranted after the board terminated its second CFO in two months. There will be no delay in filing Q2 earnings, but BofA does not think it can rely on prior company 2025 AFFO guidance of $1.20 to $1.26.