Stellantis, Roku, Coinbase, Cleanspark, CEG Trending With Analysts

Analysts are intrested in these 5 stocks: ( (STLA) ), ( (ROKU) ), ( (COIN) ), ( (CLSK) ) and ( (CEG) ). Here is a breakdown of their recent ratings and the rationale behind them.

Stellantis is back in the spotlight as Piper Sandler’s Alexander Potter upgrades the stock to Buy (Overweight) and lifts his 12‑month price target from $9 to $15. His view is that Stellantis is currently the “messiest” of the big Detroit carmakers, with recent market-share losses, management turnover, and a steep drop from once‑impressive 13%+ margins to barely breaking even. Yet that very turbulence has driven expectations and the valuation down to attractive levels: the stock trades around 6x projected 2027 earnings, still below many peers, which Potter believes sets up a favorable risk‑reward profile if the company can execute a turnaround.

Potter is cautious on the challenges: Stellantis is more exposed than Ford or GM to rising Chinese competition, and most of its 2025 profit is expected to come from regions — such as Latin America and the Middle East — that Chinese brands are targeting aggressively. He forecasts lower market share and weaker margins in these markets and notes that the company’s home bases in the U.S. and Europe are less profitable than they used to be. He also flags familiar industry risks such as volatile raw material prices, currency swings, higher interest rates, EV‑related margin pressure, labor disputes, and potential launch delays. Even so, his thesis is that earnings have likely bottomed and that future gains will be driven more by EPS growth than by multiple expansion.

The bullish part of the story centers on a potential U.S. turnaround. Potter believes Stellantis’s U.S. market share has already hit bottom, and that new vehicle launches arriving into 2026 should help the group regain ground in what he calls its most critical region. He is also encouraged by Stellantis’s joint venture with Chinese EV player Leapmotor, arguing that it offers a “unique” way to partially offset the threat from Chinese competitors rather than simply being squeezed by them. If Stellantis can execute on new products and JV benefits, he sees room for margins to expand faster than the market expects.

On the numbers, Potter models adjusted operating margins rising to 3.6% in 2026 and 4.7% in 2027, implying strong incremental profitability from each new dollar of revenue. He notes that Stellantis has historically produced margins above 5%, so his targets are not unprecedented, just a return toward prior form. His $15 price target assumes the current 6x P/E multiple remains unchanged, applied to his 2027 earnings estimate, using a USD/EUR exchange rate of 1.173. In other words, the upside case does not depend on investors paying a richer valuation, only on the company delivering on earnings.

For investors, Stellantis has become a classic contrarian play in autos: more cyclical and geopolitically exposed than its Detroit peers, but also cheaper and potentially more rewarding if a turnaround takes hold. Potter flags possible 2026 catalysts such as brand divestitures, reinstated share buybacks, or supportive government policies that could unlock further value. With expectations already beaten down after several disappointing quarters, even modest positive surprises on margins or U.S. market share could spark outsized stock moves — which is exactly why he now sees Stellantis as the highest‑upside “risky” name among the Detroit 3.

Roku is also moving up analysts’ ranking lists, with Evercore ISI’s Robert Coolbrith upgrading the streaming platform to Outperform and boosting his price target from $105 to $145. He bases his bullish stance on a combination of internal catalysts and a favorable industry backdrop heading into 2026. Internally, Roku is expected to benefit from its integration with Amazon’s demand‑side advertising platform (DSP), the growth of Roku Ad Manager, new premium subscription offerings inside The Roku Channel, and a planned refresh of its home screen experience. Externally, Coolbrith expects Roku to ride a wave of advertising demand tied to the 2026 World Cup in North America, the Winter Olympics, and the U.S. mid‑term elections.

Coolbrith argues that consensus expectations for Roku’s 2026 platform revenue growth — about 15% — are too conservative. He thinks the company could exit 2025 with underlying platform revenue growth of roughly 21% in the fourth quarter and that this momentum, combined with the 2026 catalysts, can drive stronger‑than‑expected results. On profitability, he now forecasts Roku’s adjusted EBITDA margin reaching 10.8% in 2026, a 230‑basis‑point improvement year‑over‑year, and notes that Roku has been converting nearly all of its EBITDA into free cash flow. That, in his view, supports the higher target price, which is based on a 25x multiple of estimated 2027 EV/EBITDA.

Beyond the operational story, index inclusion could provide a technical tailwind. Coolbrith expects Roku to reach GAAP profitability on a trailing 12‑month basis in the fourth quarter of 2025 and believes that profitability will be sustainable, potentially making ROKU eligible for inclusion in benchmarks like the S&P MidCap 400. Such a move could attract new institutional buyers. Even after a strong 46% share price gain in 2025, he argues the market has underappreciated Roku’s “rerating” potential and its improving fundamentals.

The analyst admits that any slowdown in the overall advertising market or macroeconomic deterioration could hit Roku’s results. However, his recent checks suggest ad spending remains resilient, and his sensitivity analysis shows that Roku’s business can stay robust even before the full benefit of new catalysts appears in the numbers. He highlights Roku’s estimated 2027 free‑cash‑flow yield of nearly 5% as comparatively attractive versus both sector peers and the broader market. In his view, rising margins, strong cash generation, and a richer ecosystem of advertising tools and content partnerships form a compelling case for long‑term investors who can tolerate volatility in ad‑driven tech stocks.

Coinbase Global has also returned to analysts’ good graces, with Bank of America’s Craig Siegenthaler upgrading the crypto exchange from Neutral to Buy and affirming a price objective of $340. This call comes after a roughly 40% pullback from Coinbase’s July highs, a move he believes has left the stock trading on more attractive valuation metrics even as the underlying business has accelerated. Siegenthaler’s key theme is that Coinbase is moving closer to its ambition of becoming an “everything exchange” — not just a cryptocurrency trading venue but a broader financial marketplace. He points to the company’s new moves into stock and ETF trading, as well as prediction markets, unveiled at a December product showcase.

Siegenthaler also highlights Coinbase’s strategic pivot deeper into decentralized finance (DeFi) through its Base network, a layer‑2 blockchain built on Ethereum. Base is designed as a decentralized, permissionless infrastructure layer, and the analyst sees a potential native token launch as a major catalyst. Such a token could incentivize developers and users, while potentially raising billions in cash for Coinbase, which the firm discussed in prior meetings with management. At the same time, Coinbase is pushing into real‑world asset tokenization with its Coinbase Tokenize product, bundling issuance, custody, compliance, and distribution to its large client base — a move aimed at asset managers eager to put traditional products on‑chain for younger, digitally native investors.

On valuation, Siegenthaler notes that Coinbase’s price‑earnings multiple has fallen about 40% from its peak range in mid‑2025, even as short interest has roughly doubled, suggesting a stock that has become a favored target for skeptics. He believes some of the recent selling has been driven by year‑end tax‑loss harvesting, which could reverse in early 2026. His $340 price objective implies an estimated 38% upside from recent levels, based on a 35x multiple applied to his 2028 earnings forecast. For him, that multiple is justified by Coinbase’s leadership position in U.S. crypto markets and the broader, still‑early stage of global crypto adoption.

He does warn of key risks: more aggressive competition from Binance US, potential sharp corrections in crypto prices that could hit trading volumes and sentiment, and price pressure on retail fees as rivals try to take share. There is also regulatory uncertainty, though he currently sees a favorable backdrop, noting that the Trump administration still has three years left in its term and has generally been positive toward crypto innovation. Overall, Siegenthaler portrays Coinbase as a long‑term structural winner helping to build a new 24/7 financial system on blockchain rails, with multiple new products broadening its addressable market even as the stock now trades at a discount to its mid‑2025 valuation peak.

Cleanspark, a Bitcoin miner turning itself into a broader power and data‑infrastructure play, has attracted fresh bullish attention as analyst Matthew Galinko initiates coverage with a Buy rating and a $22 price target. His thesis is that Cleanspark’s expertise in sourcing and developing power assets gives it an edge in both Bitcoin mining and the fast‑emerging market for AI data centers. The company recently acquired a 285‑megawatt site in Texas to quickly deploy an AI‑focused data center and has built a pipeline of roughly 1.5 gigawatts of contracted power, including 515 MW already earmarked for near‑term development. In a world where many data‑center and crypto‑mining competitors are stuck in long approval queues with power authorities, Galinko views this early access to power as a key differentiator.

On the crypto side, Cleanspark operates at roughly 50 exahash per second of Bitcoin mining hashrate, putting it among the larger players in the sector and giving it scale benefits. The analyst stresses that Bitcoin mining is a brutal business, with block rewards halving every four years and effectively cutting revenue in half unless offset by higher prices or more efficient operations. In that environment, large‑scale operations like Cleanspark’s can spread fixed costs over more computing power, lowering the marginal cost per Bitcoin mined. Galinko also notes that flexible Bitcoin mining loads can help stabilize the electrical grid by powering down quickly when demand spikes elsewhere.

Cleanspark’s balance sheet is another key pillar of the bullish case. The company holds about 13,099 BTC — worth roughly $1.2 billion at the time of the report — and uses options strategies such as selling covered calls and cash‑secured puts to generate additional income on that stack, potentially around a 12% cash yield depending on market conditions. It also has BTC‑backed credit lines with Coinbase Prime and Two Prime and longer‑dated convertible debt maturing in 2030 and 2032, which give it financing flexibility. Galinko believes this combination of cash, Bitcoin, and credit access allows Cleanspark to fund its operations and expansion without immediately tapping equity markets, reducing dilution risk for shareholders.

For forecasting purposes, Galinko takes a conservative path: he assumes a Bitcoin price of about $91,000 for fiscal 2026 and 2027, no revenue yet from AI data centers, and a flat share of network hashrate. Under those assumptions, he actually expects lower revenue in 2026 and flat revenue in 2027, with declining EBITDA as power costs rise. He estimates that every $10,000 move in Bitcoin’s price would shift annual revenue and EBITDA by roughly $70 million, highlighting how sensitive results are to crypto prices. Importantly, he notes that his estimates likely sit below market consensus, which may be betting on higher Bitcoin prices than his base case.

Still, Galinko sees Cleanspark as undervalued, trading at an enterprise‑value‑to‑revenue multiple of around 4x his 2026 estimates — a discount to the broader Bitcoin mining group. His $22 price target comes from a sum‑of‑the‑parts model that values both the existing BTC‑mining operations and the emerging infrastructure pipeline for AI data centers, including net cash and current Bitcoin holdings. In his view, the signing of the first AI data center leases and successful execution on construction timelines could be major catalysts for a rerating, as investors start to see Cleanspark not just as a miner tied to Bitcoin’s boom‑bust cycles, but as a diversified power‑infrastructure and compute provider aligned with long‑term AI demand.

Constellation Energy Corporation is attracting fresh buy‑side attention as analyst Shelby Tucker initiates coverage with a Buy rating and a bullish $440 price target. Tucker’s optimism is rooted in Constellation’s scale, its newly combined portfolio with Calpine, and the structural backdrop of rising U.S. power demand. He argues that electricity consumption in the U.S. shows “no signs of stopping,” driven especially by the data‑center buildout that underpins cloud computing and AI. While he acknowledges that some load forecasts may be overly aggressive, he still believes demand will outpace supply for years, supporting elevated power prices and capacity payments.

A central piece of his thesis is the integration of Calpine, which adds a large fleet of gas‑fired generation to Constellation’s existing base of nuclear plants. Tucker sees this combination as creating a powerful platform for signing long‑term power purchase agreements (PPAs) with customers, often at prices above what forward power curves currently suggest. He views the U.S. Department of Justice settlement on the Calpine acquisition — which required only limited divestitures relative to the size and age of the plants involved — as a positive surprise that leaves more value on the table for shareholders. With the combined portfolio, Constellation can now structure cross‑asset PPAs, blending nuclear and gas in ways that were not possible when it was mostly a nuclear operator.

Regulation is a key consideration, and Tucker spends time on the latest guidance from the Federal Energy Regulatory Commission (FERC). He believes that new FERC rules, which encourage co‑located projects but require new generation for behind‑the‑meter arrangements, limit the upside for fully behind‑the‑meter setups using existing assets. That said, he argues this is ultimately favorable for independent power producers like Constellation, as it reduces the risk that large customers — such as data centers — will completely bypass the grid. Instead, he expects most deals to remain “front‑of‑the‑meter,” where Constellation can sell power directly into the grid and into long‑term contracts, especially for carbon‑free nuclear power, which he says should continue to command premium pricing.

From a valuation perspective, Tucker values Constellation at 33x his 2027 adjusted EPS estimate, which yields the $440 target price. He acknowledges regulatory risk and the possibility that policy shifts could alter the economics of nuclear or gas generation, but believes today’s environment — with grid interconnection reform effectively stalled and time‑to‑power constraints weighing on new supply — plays in Constellation’s favor. In his view, power demand strength, limited new capacity, and a unique, diversified generation portfolio give the company both earnings visibility and upside optionality. For investors, Constellation is pitched as a way to play the multi‑year boom in power demand from AI and data centers, without having to pick individual winners among the tech platforms driving that demand.