Nike upgraded, Coinbase 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.

Top 5 Upgrades:

• JPMorgan upgraded Nike (NKE) to Overweight from Neutral with a price target of $93, up from $64. The firm sees a multi-year recovery for the company, driving high-teens to 20% annual earnings growth through fiscal 2030.
• Bernstein upgraded Charter (CHTR) to Outperform from Market Perform with a price target of $380, down from $410. The firm recommends buying the post-earnings selloff in the shares.
• Wolfe Research upgraded Texas Instruments (TXN) to Outperform from Peer Perform with a $230 price target. Wolfe also believes Texas Instruments is well positioned to benefit from a cyclical recovery in analog in the near-term.
• Daiwa upgraded Oklo (OKLO) to Outperform from Hold with a price target of $86, up from $58. The firm believes Oklo’s regulatory tailwinds are gaining momentum with President Trump’s AI Action Plan.
• UBS upgraded Textron (TXT) to Neutral from Sell with a price target of $88, up from $73. Business jet demand is healthy, Bell margins have reset lower, the Powersports business is no longer part of the portfolio, and UBS sees limited downside risk to consensus estimates for 2025 and 2026.

Top 5 Downgrades:

• Monness Crespi downgraded Coinbase (COIN) to Neutral from Buy. While acknowledging that it is “potentially early,” the firm thinks it may be time to take profit ahead of the company’s Q2 report and would be “interested in revisiting at a lower multiple.”
• Evercore ISI downgraded Cisco (CSCO) to In Line from Outperform with an unchanged price target of $72 following a 46% move over the last twelve months that the firm sees being driven by a cyclical recovery in the company’s core enterprise networking business as well as “a more compelling narrative” around cloud and AI markets.
• Seaport Research downgraded Paramount (PARA) to Sell from Neutral with a $11 price target on B shares, which the firm notes will trade under the ticker symbol “PSKY” after August 7 following the closing of the Skydance merger. Ahead of the merger closing, the firm is reducing its “too-robust” advertising and filmed entertainment estimates for Q3 and beyond, noting that it still sees upside in the short-term, but sees risk that shares could give back some of the deal-related upside post-tender.
• Guggenheim downgraded GE Vernova (GEV) to Neutral from Buy and removed the firm’s previous $600 price target, citing the belief that the stock’s valuation “fully reflects even the substantially above-consensus estimates” the firm is now publishing. Mizuho also downgraded GE Vernova to Neutral from Outperform with a $670 price target.
• JPMorgan downgraded Riot Platforms (RIOT) to Neutral from Overweight with a price target of $15, up from $14. The firm cites valuation for the downgrade, saying the shares have outperformed bitcoin after rallying 42% year-to-date.

Top 5 Initiations:

• Wells Fargo initiated coverage of Electronic Arts (EA) with an Equal Weight rating and $168 price target. The firm sees near-term catalysts for EA in the Battlefield launch in fiscal Q3 of 2026 and the World Cup in fiscal Q1 of 2027, but notes consensus estimates already appreciate the World Cup benefit in fiscal 2027.
• Wells Fargo initiated coverage of Take-Two (TTWO) with an Overweight rating and $265 price target. The firm is positive on the shares into the release of Grand Theft Auto 6 on May 26, 2026.
• HSBC initiated coverage of Accenture (ACN) with a Reduce rating and $240 price target. The firm believes the market is underestimating the artificial intelligence disruption risk facing Accenture.
• BMO Capital initiated coverage of MongoDB (MDB) with an Outperform rating and $280 price target. The firm says the company has leading technology in the “large and fast-growing” non-relational database market.
• Benchmark initiated coverage of Lionsgate Studios (LION) with a Buy rating and $8.50 price target. Lionsgate is “a top indie Motion Picture and Television producer” with a library that generated about $950M in high margin predictable sales for its most recently concluded fiscal year, notes the firm, which thinks any eventual takeout by Legendary or “another well capitalized opportunistic acquiror” could occur at a higher price.