Wall Street financial institutions issued a broad slate of rating adjustments, initiations, and price target revisions, highlighting shifting sentiment across artificial intelligence, consumer products, cryptocurrency, and industrial sectors.
Deutsche Bank upgraded CrowdStrike to a buy rating from hold, lifting its DCF-derived price target to $300. The firm noted that investors are underestimating how artificial intelligence will expand the cybersecurity market and pointed to the company’s established leadership in the field.
In the technology and semiconductor space, Melius reiterated its buy rating on Nvidia while reducing its price target to $315 from $420 per share. The firm noted that valuation multiples may remain under pressure as infrastructure buildouts feature more backstops through 2028, leading to downward revisions on select estimates across multiple firms. Bernstein also reiterated overweight ratings on Nvidia and Broadcom, arguing that despite fading investor confidence in the sustainability of the artificial intelligence trade, underlying fundamentals remain robust. Meanwhile, Barclays maintained its underweight rating on Apple ahead of earnings, citing ongoing uncertainties surrounding iPhone demand cycles, limited monetization of artificial intelligence features, and renewed concerns regarding the App Store.
Cryptocurrency exchange Coinbase faced a downgrade from Morgan Stanley, which shifted its rating from equal weight to underweight and slashed its price target to $120 from $258. Analysts pointed to weaker trading volumes in October and persistent crypto market uncertainty, which undermined recovery expectations and prompted significant cuts to projected revenue and EBITDA figures through 2028.
Automotive and industrial equities also saw notable movement. UBS upgraded Rivian to a buy rating from neutral while maintaining a $17 price target, characterizing a recent 19% monthly sell-off as an attractive entry point ahead of production ramps for the R2 model and margin improvements. In the consumer products sector, BTIG initiated coverage of SharkNinja with a buy rating, praising its dynamic growth profile and anticipating approximately $7.5 billion in revenue by 2026. PhillipCapital upgraded Amazon to a buy from accumulate, emphasizing the company’s model-agnostic artificial intelligence positioning and full-stack capabilities, which include custom silicon chips and large language model partnerships.
Additional adjustments included Goldman Sachs upgrading British American Tobacco to buy from neutral while noting the defensive qualities and robust earnings of the nicotine sector. KeyBanc initiated coverage of SpaceX with a sector weight rating, citing capital expenditure adjustments related to its Louisiana facility buildout and noting uncertainty regarding the timing of future cash returns. Stephens upgraded Oracle to overweight following insights gathered at the company’s investor day, while Evercore ISI raised Mohawk Industries to outperform in light of management’s renewed commitment to share buybacks.
