Intel upgraded, DraftKings downgraded: 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 30% Off TipRanks

Top 5 Upgrades:

• Roth Capital upgraded Intel (INTC) to Buy from Neutral with a price target of $100, up from $50. The firm is “impressed” with the improved execution under CEO Lip Bu Tan, who has rapidly improved manufacturing efficiency and CPU products to take advantage of the tailwinds of agentic AI. Citi and Evercore ISI also upgraded Intel to Buy-equivalent ratings.
• DA Davidson upgraded AMD (AMD) to Buy from Neutral with a price target of $375, up from $220. The firm cites the “structural increase” in central processing unit demand and “much improved” visibility into AMD’s role in the data center buildout for the upgrade.
• HSBC upgraded Southwest (LUV) to Hold from Reduce with a price target of $36.10, up from $24.40. HSBC believes Southwest’s “massive” increase in RASM and cost controls could partly offset fuel pressure and boost its earnings
• Scotiabank upgraded Magna (MGA) to Outperform from Sector Perform with a price target of $72, up from $69. Wealthy consumers are propping up the auto market, which should be a tailwind to mix as the firm believes more affluent customers tend to buy higher content pickup trucks and SUVs.
• Raymond James upgraded Polaris (PII) to Outperform from Market Perform with a $66 price target. The rating change reflects shifting competitive dynamics in the U.S. powersports industry following new tariffs on imported steel, aluminum, and copper.

Top 5 Downgrades:

• MoffettNathanson downgraded DraftKings (DKNG) and Flutter Entertainment (FLUT) to Neutral from Buy. The firm no longer sees “the clouds lifting on these stocks until there is some regulatory clarity on prediction markets.”
• Deutsche Bank downgraded Comcast (CMCSA) to Hold from Buy with a price target of $34, down from $35. The firm reduced the company’s 2027 EBITDA and free cash flow estimates post the Q1 report and now sees limited upside in the shares.
• Rothschild & Co Redburn downgraded Insulet (PODD) to Neutral from Buy with a price target of $220, down from $380. The company’s distribution and product moats are “eroding,” the firm tells investors in a research note.
• Jefferies downgraded Sportradar (SRAD) to Hold from Buy with a price target of $14, down from $30. The stock could be range-bound in the near term as the company’s business practices face scrutiny, the firm tells investors in a research note
• Morgan Stanley downgraded Freeport-McMoRan (FCX) to Equal Weight from Overweight with a price target of $66, down from $70. While the long-term prospects of the company’s Grasberg Block Cave mine in Indonesia remain unchanged, the slower production ramp-up and temporarily higher costs will weigh on the stock performance for some time, the firm tells investors in a research note.

Top 5 Initiations:

• Wedbush initiated coverage of Oracle (ORCL) with an Outperform rating and $225 price target. The firm believes Oracle is on the path to become a “foundational infrastructure provider for the AI revolution.”
• Guggenheim initiated coverage of Shake Shack (SHAK) with a Buy rating and $120 price target. Shake Shack trades at a discount to Chipotle (CMG) despite a stronger growth algorithm and longer runway for continued store growth expansion, says the firm, which calls the company “a margin self-help story” with near-term same-store sales growth upside.
• JPMorgan initiated coverage of Hims & Hers (HIMS) with an Overweight rating and $35 price target. JPMorgan believes the company’s recent partnership with Novo Nordisk (NVO) “could mark a turning point,” removing a significant legal overhang and positioning Hims & Hers as a platform that offers branded, generic, and compounded products.
• Stephens initiated coverage of Rocket Companies (RKT) with an Overweight rating and $22.50 price target. Across real estate finance, the firm recommends companies with the lowest cyclicality and potential to unlock multiple expansion by generating consistent earnings growth across cycles.
• Evercore ISI resumed coverage of Constellation Energy (CEG) with an Outperform rating and $380 price target. Following completion of the $26.6B Calpine acquisition on January 7, the firm says the combined platform has approximately 55 GW of capacity across nuclear, natural gas, geothermal, hydro, wind, solar, and battery storage and produces a share of U.S. clean energy that management estimates at approximately 10%.