Capital One upgraded Palo Alto Networks (PANW) to Overweight from Equalweight, lifting its price target to $421 from $307 on Thursday.
The firm believes Palo Alto will benefit from AI in data center buildouts, increasing attack surfaces, budget shifts toward cybersecurity, and securing AI deployments.
Capital One also upgraded Okta (OKTA) to Overweight from Equalweight, raising its price target to $171 from $126, calling the company a “strong neutral and strategic partner” with other cybersecurity firms.
JPMorgan upgraded BlackRock (BLK) to Overweight from Neutral with a price target of $1,364, up from $1,165, and added the stock to its Analyst Focus List as a growth idea.
The firm cited BlackRock’s strong setup for flows, organic revenue, and operating leverage as key reasons behind the upgrade decision.
Raymond James upgraded AeroVironment (AVAV) to Outperform from Market Perform with a $210 price target, noting the stock is down 55% since March as EBITDA estimates have reset materially lower.
On the downgrade side, Truist cut Lululemon (LULU) to Sell from Hold, slashing its price target to $94 from $115 amid mounting brand concerns.
Truist said TikTok and Google Trends continue to show Lululemon losing mindshare, while Amex Platinum Reddit discussions signal meaningful brand issues, with headwinds potentially “more structural than what is currently being underwritten by the Street.”
Wells Fargo downgraded both Cinemark (CNK) and Imax (IMAX) to Equal Weight from Overweight, citing a soft near-term movie slate as the primary driver.
RBC Capital cut ResMed (RMD) to Sector Perform from Outperform with a price target of $234, pointing to device sales pressure, higher costs of goods, and supply constraints on component parts in FY27.
Jefferies downgraded Nutrien (NTR) to Hold from Buy, dropping its price target sharply to $63 from $96, saying the 2027 through 2029 scenarios “likely skew negative.”
In initiations, Piper Sandler started coverage of SpaceX (SPCX) with a Neutral rating and a $156 price target, acknowledging the “emerging market for space-based services owes its existence to SpaceX” but flagging “idiosyncratic near-term headwinds.”
Piper Sandler also launched coverage of Rocket Lab (RKLB) at Neutral with an $83 price target and initiated AST SpaceMobile (ASTS) at Overweight with a $100 target, citing a “more palatable valuation” and clearer path to EBITDA upside.
Clear Street initiated PayPal (PYPL) with a Hold rating and a $61 price target, saying the company is at a “strategic crossroads” with investors seeking clarity on its latest reorganization.
Clear Street also initiated Mastercard (MA) and Visa (V) with Buy ratings of $617 and $403 respectively, while Benchmark launched coverage of Synopsys (SNPS) at Buy with a $570 target, praising the sector’s high growth and high margins.
