IBM upgrade, SpaceX initiation among today's top calls on Wall Street

• JPMorgan upgraded IBM (IBM) to Overweight from Neutral with a terms people of $291, up from $270. The steadfast cites its greater assurance successful a 2nd fractional of 2026 bundle acceleration pursuing an investigation of IBM's bundle concern for the upgrade.

• Wolfe Research upgraded Target (TGT) to Outperform from Peer Perform with a $162 terms target. The expert besides named the banal a apical prime into year-end. Target is seeing improved execution arsenic the caller absorption squad shakes up the presumption quo, the expert tells investors successful a probe note.

• Piper Sandler upgraded Synopsys (SNPS) to Overweight from Neutral with a terms people of $550, up from $450. The steadfast sees a faster than-expected betterment for the company's intelligence spot business.

• Morgan Stanley upgraded Qiagen (QGEN) to Overweight from Equal Weight with a terms people of $42, up from $40. The steadfast says signs of a maturation inflection coupled with assemblage underperformance successful 2026 provides opportunities successful the European aesculapian exertion space.

• Morgan Stanley upgraded CDW (CDW) to Overweight from Equal Weight with a terms people of $170, up from $142. The steadfast says endeavor server request is "proving acold much inelastic than expected" owed to compute shortages, refresh activity, and increasing AI-related infrastructure

Top 5 Downgrades:

• Evercore ISI downgraded Nike (NKE) to In Line from Outperform with a terms people of $46, down from $57. About 2 years into the turnaround, the firm's checks are inactive picking up unexpected caller resets little successful the wholesale channel, "minimal needle-moving innovation" successful the pipeline into calendar 2027, and near-term execution issues, including World Cup transportation issues, the expert tells investors.

• Wolfe Research downgraded Home Depot (HD) to Peer Perform from Outperform without a terms target. The steadfast believes the banal "remains successful limbo" arsenic the lock-in effect and a strategy displacement towards the ample pro conception rise questions astir Home Depot's net power.

• Wells Fargo downgraded Ross Stores (ROST) to Equal Weight from Overweight with an unchanged terms people of $245. The steadfast cites valuation for the downgrade pursuing the stock's re-rating.

• KeyBanc downgraded Primoris (PRIM) to Sector Weight from Overweight without a terms target. The institution is "tough to defend" aft different guidance cut, its 4th antagonistic update successful a row, the expert tells investors successful a probe note.

• Jefferies downgraded Talen Energy (TLN) to Hold from Buy with a terms people of $453, up from $409, aft assuming sum of the name. The steadfast cites valuation for the downgrade.