Uber downgraded, Rockwell Automation 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. 

Top Upgrades:

• JPMorgan upgraded Rockwell Automation (ROK) to Neutral from Underweight with a price target of $271, up from $201. The company reported a “clean” Q2 beat on sales and margins, benefitting from better-than-expected pricing, the firm tells investors in a research note. 
• Evercore ISI upgraded Charles River (CRL) to Outperform from In Line with a price target of $170, up from $135, following Q1 earnings and the cooperation agreement with Elliott. 
• RBC Capital upgraded Mosaic (MOS) to Outperform from Sector Perform with a price target of $40, up from $30. The firm expects phosphate markets to “remain tight” given steady demand growth and limited supply, supporting elevated prices. 
• Wells Fargo upgraded American States Water (AWR) to Equal Weight from Underweight with a price target of $84, up from $76. The firm cites the company’s “solid start” to 2025 and the stock’s year-to-date underperformance for the upgrade. 
• Barclays upgraded IFF (IFF) to Overweight from Equal Weight with a price target of $84, up from $76. With management reaffirming its 2025 guidance, including tariffs and encapsulating a significant economic slowdown at the low end of sales, IFF’s estimates are “essentially de-risked,” the firm tells investors in a research note. 

Top Downgrades:

• Wedbush downgraded Uber (UBER) to Neutral from Outperform with a price target of $85, up from $80. The firm points out Uber shares have appreciated considerably over the past year, but the magnitude of the company’s earnings beats has contracted meaningfully as its performance has caught up to investor expectations.
• Evercore ISI downgraded Sarepta (SRPT) to In Line from Outperform with a price target of $50, down from $123, citing new assumptions baked into its base case after “all the news” from earnings and the FDA changes. 
• BofA downgraded Archer Daniels (ADM) to Underperform from Neutral with a price target of $45, down from $47. Q1 results offered investors some relief, but the firm views “optimism as misplaced,” noting that it has further cut its EPS estimate to $3.90 and sees potential for additional earnings pressure
• Erste Group downgraded Amgen (AMGN) to Hold from Buy. The company’s planned weight loss products are still in the clinical trial phase and are only likely to make moderate contributions to sales growth in the coming years, the firm says.
• Canaccord downgraded Coty (COTY) to Hold from Buy with a price target of $5, down from $8. The company’s fiscal Q3 report indicated worsening trends for the business despite other beauty brands generally seeing resilient results, the firm tells investors in a research note. 

Top Initiations:

• Erste Group reinstated coverage of Boston Scientific (BSX) with a Buy rating. Boston Scientific has “very innovative products,” and its positive business development should continue in the longer term, the firm tells investors in a research note.
• Chardan initiated coverage of Centessa (CNTA) with a Buy rating and $30 price target. The firm assumes the company’s lead product ORX750 could be the best-in-class product for the treatment of narcolepsy and other sleep disorders and generate over $2B peak sales in the U.S. 
• Bullish on the name, Capital One initiated coverage of Arko Corp. (ARKO) with an Overweight rating and $8 price target.