Here are the top demands on Wall Street on Monday: Goldman Sachs upgrades Coinbase to buy from neutral Goldman said the stock is “best in class.” “With this in mind, we selected COIN to Buy (from Neutral) to reflect our transition to structural growth through a growing derivatives business, a best-in-class growing crypto infrastructure business, and long-term growing new products, particularly tokenization and prediction markets.” Read more. Raymond James rates Church & Dwight as above-market performer Raymond James says investors should buy the bullshit. “We upgrade CHD from Market Perform to Outperform, with a $100 price target, as we believe the risk/reward is more favorable following a pullback in 2025.” Bank of America upgrades Duolingo to Neutral Buy. The company said the stock is undervalued. “We upgraded DUOL from neutral to buy because we believe its value proposition as an entertainment product is not reflected in its growth forecast.” Barclays upgrades Mobileye from equal weight to overweight. Barclays said the stock’s risk-reward profile is compelling. “Therefore, sentiment on the stock has fallen considerably and we believe the risk/reward is favorable at current levels. To be clear, MBLY will need to show positive evidence for the stock to work. Acquisition of advanced content will be important…” Barclays upgrades Procore Technologies from equal weight to overweight Barclays said it likes the construction company’s new CEO. “We upgrade PCOR to OW for three reasons. 1) Construction typically improves two years after a rate cut, indicating improved follow-through in FY26 and beyond. 2) New CEO has driven the company’s wallet share and path to over $1 billion. 3) Earnings could compound 15% by FY27.” JPMorgan entered Lumexa Imaging as Overweight, saying the diagnostic imaging company’s stock is attractive. “We are entering LMRI with an Overweight rating, with a December 2026 price target of $23, based on a target multiple of 12.5x 2027 adjusted EBITDA.” Piper Sandler upgrades Motorola Solutions from Neutral to Overweight Piper Sandler said Motorola stock has plenty of upside potential. “We raise our rating on Motorola Solutions to overweight (from neutral) and set a price target of $443 (from $465).” Melius downgrades Uber from hold to sell Melius says it’s concerned about increased competition. “While we believe Uber’s current valuation is undervalued, we also assume steady growth with no noticeable impact from competitive threats. We’ll have to wait and see, but if growth slows or there are announcements of further standalone expansion in the U.S. market, such as Waymo or Tesla, there will certainly be risks that are underappreciated in today’s market.” Piper Sandler upgrades Pinnacle Financial Partners from Neutral to Overweight. Piper Sandler said asset management companies have more room to maneuver. “PNFP has consistently delivered loan growth rates in the high single digits to low double digits, and the outlook for the combined company remains in the 9% to 11% range going forward.” Piper Sandler Upgrades Arista Networks from Neutral to Overweight Piper said he expects Arista to gain recognition. “2026 is a ‘Year of Refresh’ with increased company mentions and investments, exposure to hyperscalers/AI Titans, and a conservative setup at a reasonable valuation, so we upgrade ANET to OW and raise PT to $159.” Baird upgrades Heartland Express from Neutral to Outperform Baird said the logistics company is in the best position. “Despite our more constructive view of the stock, we continue to believe that Heartland needs to meaningfully adapt its business model to improve its durability across cycles. We appreciate the company’s management discipline and commitment to culture, but relying on acquisitions to offset customer declines is not a sustainable long-term strategy.” RBC upgrades F5 Networks to Sector Perform to Outperform RBC said its confidence in the software stock has increased. “We are upgrading FFIV from SP to OP and raising PT from $315 to $325.” Stifel upgrades Moody’s to buy from hold Stifel said he expects the company’s stock to have a “strong bond issuance year.” “We expect strong bond issuance in 2026, and we expect higher sales and profits, so we are raising MCO’s rating from ‘hold’ to ‘buy.’ ” Stifel embarks on acquisition of Cardinal Infrastructure Group Stifel said the civil construction company’s stock is in an optimal position. “We initiate coverage on Cardinal Infrastructure (CDNL) with a buy rating and $28 price target.” Barclays upgrades Citizens Financial from equal weight to overweight. Barclays said the stock is trading at a discount. “We are upgrading CFG from EW to OW because it trades at a lower valuation than its peers despite the highest organic revenue growth in the peer group and above-average revenue growth expected in 2026.” Piper Sandler upgrades Varonis Systems from Neutral to Overweight Piper Sandler said the security software company is well positioned. “We believe that organizations will continue to incrementally integrate data security solutions to address their concerns, and the company’s footprint and recent capability modernization across traditional data stores should allow VRNS to gain continued momentum in both new customer additions and the migration of its installed base to SaaS, making next year’s numbers modest.” UBS upgrades Emerson to acquisition from neutral UBS said it sees “improving growth trends” for utilities. “Near-term software headwinds are distracting from the underlying demand strength that we believe will drive the share price higher. Currently, EMR’s 2026 organic growth guidance (+4%) is well below recent underlying order growth (+6%), with potential for positive revisions through 2026.” UBS upgrades United Rentals to acquisition from neutral UBS said it expects further growth for the equipment rental company. “We upgrade URI from neutral to buy as we expect U.S. nonresidential construction activity to recover and EBITDA growth to accelerate in the second half of 2026 and 2027.” UBS upgrades Dover to neutral acquisition UBS says it likes the growth prospects of the diversified global manufacturer. “After two years of cyclical challenges, we believe DOV’s organic growth will further accelerate in 2026, and this, combined with management’s ability to deploy capital and strong cost discipline, should enable double-digit EPS growth for the year.” UBS Reiterates Oracle Acquisition UBS lowered its price target from $325 per share to $280 per share, but maintains the stock’s value. “Oracle stock’s -41% correction from mid-September highs reflects a significant deterioration in investor confidence in the outlook for both Oracle and OpenAI, weighing on the entire ‘OpenAI complex’ of stocks.” Raymond James Upgrades Estée Lauder from Market Performer to Strong Buy The company says a turnaround is underway. “We upgrade e EL from Market Perform to Strong Buy and make it one of our top picks for 2026 as we move from story to execution.” Evercore ISI reiterates Amazon outperforms Amazon Evercore says it likes Amazon’s AI-powered assistant. “We reiterate our Outperform and $335 PT on AMZN following our detailed analysis of Rufus, Amazon’s AI-powered shopping assistant.” Bernstein Upgrades ASML to Outperform Market Performance Bernstein says he sees a number of positive catalysts ahead for the European semiconductor company. “We upgrade ASML to Outperform and make it a top candidate for the 2026 EU semi.” Barclays upgrades Centene to overweight from equal weight Barclays said it sees signs of improvement for the health insurer. “We are upgrading CNC to OW to capture attractive ACA (Affordable Care Act) exchange upside.” Mizuho upgrades Costco from Neutral to Outperform Mizuho says the stock is too attractive to ignore at current levels. “The stock price has corrected by approximately 20% due to concerns that membership and benefits sales growth are both slowing as part of fundamental changes within the COST model.” Read more. Goldman Sachs added Broadcom and Dick’s Sporting Goods to its list of convictions, and Goldman added both stocks to its top ideas list. “Add Broadcom (AVGO) and Dick’s Sporting Goods (DKS) to the U.S. conviction list, while removing Capital One Financial (COF), Cadence Design Systems (CDNS), and Houlihan Lokey (HLI).” Melius upgrades Intel, Marvell to acquire from neutral Melius says Marvell is firing on all cylinders. The company also said it likes Intel’s leadership position. “While we are pushing Marvell stock higher, the stock is down 11% from December’s intraday high of about $100. …Intel’s upgrade on 14A and packaging outlook: We really like Lip Buu Tan, but more importantly, President Trump, Secretary Lutnick, Jensen Huang, and even more powerful people like Lisa Su like him even more as a business partner.”Read more. Wells Fargo Adds Roku and Coca-Cola to Tactical Ideas List Wells added both stocks to its tactical ideas list for the first quarter. “Our analysis suggests that KO is poised for accelerated U.S. sales growth in Q125 as accelerating market share trends collide with a market share trough from Q126.…With midterm elections also set to be record-breaking, CTV Overall, we think ROKU’s adjusted EBITDA guidance for 2026 will be impressive given its tight operational management (around 7% growth).” Wells Fargo, Citi is a top pick. Wells raised its price target on top candidate Citi. “A strong No. 1 pick. Generational realignment combined with generational deregulation should double revenue to 14%. 1-year PT raised to $150 (from $125, 1.3x 27E TBV), with 3-year share price at $200.” UBS Reiterates Buying NVIDIA UBS says heading into the Consumer Electronics Show that it is sticking to the stock price. “NVDA is scheduled to hold a keynote on Monday night, where we may get a little more information about Rubin and the QuantumX/SpectrumX silicon photonics switch, and perhaps further outline how the new Groq technology licensing deal fits into the company’s AI factory vision…” JPMorgan reiterates Apple is overweight JPMorgan says Apple will make further progress on AI in 2026. It’s not about AI, it’s about product cycles and cost management capabilities. DA Davidson upgrades CoreWeave from underperforming to neutral DA Davidson said it was “reluctant” to raise the stock’s price. “We continue to believe that CRWV’s stock could ultimately lose all value as all of CRWV’s value is owned by its debtors. However, we now see the OpenAI funding as a potential short-term catalyst, raising the stock from Underperform to Neutral, requiring us to raise our target from $36 to $68.” Jefferies upgrades IBM from Hold to Buy. Jeffries said IBM will benefit from software growth in 2026, citing “increasing management optimism across key growth areas.”
