Costco downgraded, Dollar General upgraded: Wall Street’s top analyst calls

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Top 5 Upgrades:

• JPMorgan upgraded Dollar General (DG) to Overweight from Neutral with a terms people of $166, up from $128. The steadfast sees upside to company’s 2%-3% same-store-sales maturation outlook for fiscal 2026 fixed its vulnerability to the employed low-income user and higher level of mediate income consumers trading down.

• Morgan Stanley upgraded Hershey (HSY) to Overweight from Equal Weight with a terms people of $211, up from $195. The steadfast says the banal “offers uncommon visibility into significant” net maturation wrong staples.

• Goldman Sachs treble upgraded Teradyne (TER) to Buy from Sell with a terms people of $230, up from $148. The steadfast believes Teradyne volition summation greater traction successful GPU investigating on with a betterment astatine its accepted customers.

• KeyBanc treble upgraded Akamai (AKAM) to Overweight from Underweight with a terms people of $115, up from $66. The steadfast admits to being incorrect connected Akamai, and says the company’s gross has the accidental to accelerate arsenic much of the concern shifts toward compute.

• Morgan Stanley upgraded Doximity (DOCS) to Overweight from Equal Weight with a terms people of $65, up from $62. The steadfast says the stock’s underperformance “is astatine odds” with its checks connected the concern and strengthening level engagement.

Top 5 Downgrades:

• Roth Capital downgraded Costco (COST) to Sell from Neutral with a terms people of $769, down from $906. The institution reported a Q1 net bushed but its underlying metrics are “concerning,” the steadfast tells investors successful a probe note.

• Goldman Sachs downgraded Arm (ARM) to Sell from Neutral with a terms people of $120, down from $160. The steadfast cites the company’s constricted leverage to the AI cycle, traction crossed non-traditional markets, and concern exemplary modulation for the downgrade of Arm.

• Goldman Sachs treble downgraded Texas Instruments (TXN) to Sell from Buy with a terms people of $156, down from $200. The steadfast cites Texas Instruments’ “lackluster” execution done the cycle, and little leverage than peers successful the upcycle for the treble downgrade.

• KeyBanc downgraded Adobe (ADBE) to Underweight from Sector Weight with a $310 terms target. KeyBanc’s survey enactment shows Adobe’s competitory pressures person been picking up and volition proceed to measurement connected shares and the multiple.

• KeyBanc downgraded ServiceNow (NOW) to Underweight from Sector Weight with a $775 terms target. There are signals successful the IT back-office employment information that rise the likelihood that the “death of software-as-a-service” communicative could travel for ServiceNow successful 2026, the steadfast tells investors successful a probe note.