Nebius, Boeing, Kraft Heinz, 3M, ConocoPhillips Trending With Analysts

Analysts are intrested in these 5 stocks: ( (NBIS) ), ( (BA) ), ( (KHC) ), ( (MMM) ) and ( (COP) ). Here is a breakdown of their recent ratings and the rationale behind them.

Nebius Group is drawing fresh attention from Wall Street as Morgan Stanley’s Josh Baer initiates coverage of the newly listed AI cloud specialist with an Equal-weight (Hold) rating. The firm is impressed by Nebius’ rapidly scaling, vertically integrated AI cloud platform, which already boasts marquee reference customers and strong external validation. Analysts highlight the company’s ambition to connect 700 megawatts of power by 2026 and to ramp annual recurring revenue from roughly $600 million today to a targeted $7–9 billion by the fourth quarter of 2026, and potentially around $13 billion by 2028. That growth, combined with a broad software and managed-services stack and valuable equity stakes in related assets, underpins a generous valuation range of $67–$165 per share. Yet Baer cautions that near‑term profitability will be pressured by heavy capital spending and four‑year depreciation on its infrastructure build-out, meaning investors will need to focus on EBITDA and longer-term free cash flow rather than near-term earnings, and treat the 2026 targets as ambitious rather than guaranteed.

Boeing is back in favor with analysts, with Bernstein’s Douglas Harned upgrading the stock to Outperform (Buy) and naming it his top Aerospace & Defense idea for 2026, alongside a higher price target of $298. The upgrade reflects growing confidence that Boeing’s recovery is now firmly underway, supported by rising production of its key 737 and 787 programs and an improving outlook for its defense business. With production of the 737 at 42 aircraft per month and the 787 at eight, Harned argues that Boeing is increasingly well positioned in a global aircraft market where demand is expected to exceed supply for the rest of the decade. The firm also sees long-term cash generation supported by enormous backlogs that will still be only partly worked down by 2030, even before new orders, while issues like 777X certification delays and higher capital spending for factory expansion are framed as timing and capacity investments rather than structural problems. Taken together with a richer, but still attractive, valuation based on a higher EV/EBITDA multiple, Boeing’s improving execution and expected strong free cash flow in 2027–28 underpin the case for further upside in the stock.

Kraft Heinz, by contrast, is facing a chillier reception from Wall Street as Morgan Stanley’s Megan Alexander downgrades the packaged-food giant to Sell with a $24 price target. The move comes just as new CEO Steve Cahillane takes the helm, and follows a virtual “meet and greet” that left analysts cautiously skeptical despite his energy and optimism. Cahillane openly acknowledged years of market-share losses and underperformance across many of Kraft Heinz’s categories, stressing that this is a “show-me” story where investors should not expect bold promises upfront but instead wait for tangible execution proof points. While he believes the company’s brands remain strong and that disciplined capital allocation can unlock value, he signaled that 2026 could be a year of resetting expectations as management makes tough portfolio calls and redirects investment toward the most promising brands. The ongoing separation work within the business is said to be well resourced and on track, but the strategic framework is still under review—adding another layer of uncertainty. For investors, the takeaway is that while a turnaround is possible, near-term performance and sentiment may remain fragile as Kraft Heinz works to rebuild credibility.

3M is also entering 2026 under a more cautious spotlight, with J.P. Morgan’s Stephen Tusa downgrading the stock to Neutral (Hold) and setting a price target of $182 amid a broader reassessment of the industrial sector. Tusa notes that, even though industrial demand in areas like data centers and aerospace remains robust, the overall macro backdrop is still sluggish, particularly in construction-related markets, and rising metals costs are starting to pressure margins across the sector. While many industrial names have enjoyed a valuation re-rating, 3M now sits in a part of the group where earnings expectations look stretched relative to the actual pace of growth and the risk of cost inflation. The firm sees sector-wide earnings guidance for 2026 as “solid but not spectacular,” with about 12% EPS growth that actually trails the wider S&P 500, and warns that upside surprises may be limited. Within that environment, J.P. Morgan prefers more growth‑oriented industrial names and is wary of companies where valuations already assume a more optimistic trajectory. For 3M shareholders, the message is one of tempered expectations: fundamentals aren’t collapsing, but the risk/reward looks balanced rather than compelling at current levels.

ConocoPhillips is seeing sentiment turn negative, with Bank of America’s Kalei Akamine downgrading the oil major to Underperform (Sell) and setting a $102 price objective, arguing that better opportunities exist elsewhere in energy. The key concern is Conoco’s relatively high oil price breakeven and comparatively low free cash flow yield versus peers, especially in a weaker crude environment. The analyst notes that competitor names with lower breakevens—such as FANG, at roughly $37 per barrel WTI—offer more defensive protection and higher debt-adjusted free cash flow yields, while Conoco needs closer to $53 WTI to cover capex and dividends and generates only about a 4.4% yield on that basis. Long-cycle projects like Port Arthur LNG and the Willow development, which are still years from start-up, are absorbing capital and driving those breakevens higher. At Bank of America’s oil price forecast of $57 WTI, the firm believes Conoco cannot maintain its recent practice of returning around 45% of cash flow to shareholders, with 2026 free cash flow leaving room for only roughly a 30% payout and modest buybacks. Recent strength in the share price, helped by geopolitical headlines around Venezuela and Iran, is seen as resting on temporary rather than structural tailwinds. For investors, that combination of stretched valuation, pressured returns of capital, and better relative value in lower‑breakeven producers underpins the call to reduce exposure.