ADI, CRDO, SHOP, AFRM, WMT Trending With Analysts

Analysts are intrested in these 5 stocks: ( (ADI) ), ( (CRDO) ), ( (SHOP) ), ( (AFRM) ) and ( (WMT) ). Here is a breakdown of their recent ratings and the rationale behind them.

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Analog Devices is back in the spotlight after Needham analyst Quinn Bolton upgraded ADI to Buy, arguing that the chipmaker still has “room to run” despite a powerful rally. Strong F1Q26 results and guidance for F2Q26 that topped expectations convinced him it was no longer sensible to stay on the sidelines.

Bolton set a 12‑month price target of $400, based on a 30x P/E multiple on his 2027 earnings forecast, signaling confidence in further profit growth. He notes ADI has surged more than 44% since late‑2025 results, far ahead of the S&P 500, yet still sees upside for both earnings estimates and the share price.

Credo Technology Group is drawing fresh enthusiasm from Goldman Sachs, where analyst James Schneider initiated coverage of CRDO with a Buy rating and a $165 target. He believes copper‑based technology in data centers will remain stronger for longer, giving Credo’s Active Electrical Cables, or AECs, a long runway.

Schneider highlights that AECs offer high bandwidth, reliability, and lower cost for short‑range connections versus rival options, making them attractive as AI‑heavy data centers scale. His earnings estimates for FY26 and FY27 sit 7% and 32% above consensus, and a scenario analysis points to a favorable risk‑reward skew of roughly 1.6 to 1.

Shopify has been upgraded to Buy by Phillip Securities’ Helena Wang, who sees “strong AI‑powered growth” ahead for SHOP despite recent margin pressure. Revenue rose 31% year over year in 4Q25, with both subscription and merchant solutions contributing and international markets gaining share.

Wang lifted her target price to $160 as she rolled her model to FY26, saying Shopify is well placed to capture the next wave of “Agentic Commerce” through AI‑driven storefronts and integrations. With Shopify Payments penetration rising and large enterprise brands joining the platform, she expects the ecosystem flywheel to keep turning.

Affirm Holdings is getting a more cautious debut as Baird’s David Koning initiated coverage of AFRM with a Neutral, or Hold, and a $55 price target. He sees Affirm as the leading U.S. buy‑now‑pay‑later player in a market growing more than 20% a year, with attractive network effects between merchants and consumers.

However, Koning points to meaningful macro and credit risks given Affirm’s exposure to lower and middle‑income borrowers and bigger‑ticket, often discretionary online purchases. With the stock trading near 40 times 2026 earnings and potential for rising delinquencies and slower EPS growth as tax benefits fade, he prefers to stay on the sidelines for now.

Walmart, long a defensive favorite, just hit a pause button with HSBC analyst Joe Thomas downgrading WMT to Hold from Buy, even as he nudged his target price up to $131. He acknowledges a solid quarter, with healthy same‑store sales, stronger e‑commerce, and improving operating leverage.

The concern is less about execution and more about what’s priced in, as Walmart’s valuation gap versus Costco has largely closed while growth expectations are slightly softer. Thomas sees 2026 and 2027 guidance as surprisingly cautious, suggesting limited near‑term momentum for further forecast upgrades despite strong digital gains and growing ad and membership profits.