Coinbase downgraded, Deere upgraded: Wall Street’s top analyst calls

The most talked about and market moving research calls around Wall Street are now in one place. Here are today’s research calls that investors need to know, as compiled by The Fly.

Claim 55% Off TipRanks

Top 5 Upgrades:

• Jefferies upgraded Deere (DE) to Hold from Underperform with a $550 price target. The firm believes that additional downside risk is limited following the recent pullback of 15% since mid-February, noting that valuation on Deere shares is more balanced at current levels.
• TD Cowen upgraded Freshpet (FRPT) to Buy from Hold with an unchanged price target of $80. The firm says the company’s competitive threats “lack teeth.”
• MoffettNathanson upgraded T-Mobile (TMUS) to Buy from Neutral with a $254 price target. There’s “a lot to like about T-Mobile,” but the “best part of the story” is that T-Mobile has a reliable growth story in rural America, the firm tells investors.
• Citi upgraded Clean Harbors (CLH) to Buy from Neutral with a price target of $346, up from $302. The firm believes stronger chemicals production in the U.S. will make up for lost production in the Middle East.
• Barclays upgraded ViaSat (VSAT) to Equal Weight from Underweight with a price target of $49, up from $23. The company’s core satellite business is structurally threatened by new low orbit earth players, but Barclays believes free cash flow break-even is “now in sight” for ViaSat while the last launch of a key satellite is coming soon.

Top 5 Downgrades:

• Seaport Research downgraded Broadcom (AVGO) to Neutral from Buy with no price target. While calling Broadcom “the leading competitor” to Nvidia (NVDA) for AI compute, the firm says the company is now increasingly confronting the limits of the industry, just like Nvidia.
• Barclays downgraded Coinbase (COIN) to Underweight from Equal Weight with a price target of $140, down from $148, as part of a Q1 earnings preview. The company’s volumes weakened again in Q1, and without passage of the CLARITY act or a macro-driven recovery, this should continue into Q2, the firm tells investors in a research note.
• Deutsche Bank downgraded General Dynamics (GD) to Hold from Buy with a price target of $387, down from $404. The firm sees the stock’s valuation as “challenged,” saying General Dynamics trades at an 11% premium to the S&P 500 versus its historical 12% discount.
• Evercore ISI downgraded Doximity (DOCS) to In Line from Outperform with a price target of $25, down from $30. The firm cites its slower market growth forecasts in 2026, a higher degree of competitive risk, and Doximity’s “balanced” valuation for the downgrade.
• Wolfe Research downgraded Otis Worldwide (OTIS) to Peer Perform from Outperform without a price target. While the shares are “cheap,” Wolfe has lost confidence in Otis’ near-term earnings trajectory.

Top 5 Initiations:

• Keefe Bruyette resumed coverage of Robinhood (HOOD) with a Market Perform rating and $75 price target. AI-driven concerns have hit the exchanges and broker group to varying degrees and recent geopolitical events are adding pressure to the broker space but providing support for the exchanges, the firm tells investors in a research note.
• Evercore ISI initiated coverage of Elevance Health (ELV) with an In Line rating and $345 price target. The firm thinks the company can meet or exceed its 2026 guidance, but sees downside risk to 2027 estimates.
• B. Riley initiated coverage of TAT Technologies (TATT) with a Buy rating and $61 price target. The firm says the company “represents a compelling investment opportunity as an underfollowed aviation-centric, predominantly aftermarket company.”
• Telsey Advisory initiated coverage of Dutch Bros (BROS) with an Outperform rating and $66 price target. The firm views Dutch Bros. as a multi-year unit growth story. The company has differentiated itself in the quick-service beverage industry by offering high-quality and innovative coffee, energy, and other beverages.
• Stifel initiated coverage of Inhibrx (INBX) with a Buy rating and $150 price target. The company has advanced Ozekibart and INBRX-106 further in the clinic than any prior program for these targets, says the firm, which thinks Ozekibart’s registrational chondrosarcoma success “provides compelling single-agent therapeutic index proof.”