Top Wall Street Analyst Updates: Under Armour Downgraded to Sell

Wall Street’s most closely watched and market-influencing research rating summaries are here. Below are the latest rating changes investors need to know today, as compiled by The Fly.

Top Five Upgrades

1. Arete upgraded Snap (SNAP) from Neutral to Buy, target price $7.30

   The firm noted in its report that the company’s revenue growth is shifting from reliance on an “undersized” advertising business to higher-margin recurring subscription revenue.

2. Oppenheimer upgraded Unity (U) from Perform to Outperform, target price $38

   The firm believes that the recent sell-off prompted by concerns that “world models” from companies like Google might replace game engines is fundamentally mistaken and overlooks Unity’s unique architectural role in development.

3. Gordon Haskett upgraded Booking Holdings (BKNG) from Hold to Buy, target price $5,440

   The firm thinks investors’ concerns about competitive threats from AI are overblown and underestimate Booking’s operational advantages and defensive moats.

4. Daiwa Securities upgraded Palantir (PLTR) from Neutral to Buy, target price reduced from $200 to $180

   Daiwa stated: "The earnings report left a positive impression."

5. Raymond James upgraded Take-Two (TTWO) from Outperform to Strong Buy, target price $285 (unchanged)

   The firm believes the recent sell-off is overdone, and the price pullback offers a more attractive risk-reward ratio.

Top Five Downgrades

1. HSBC downgraded Estée Lauder (EL) from Buy to Hold, target price raised from $105 to $106

   The firm said Estée Lauder’s quarterly “moderate” organic revenue increase fell short of prior market expectations, disappointing investors.

2. Citi downgraded Under Armour (UAA) from Neutral to Sell, target price $6.20 (unchanged)

   The firm noted that the company’s transformation in the North American market faces multiple pressures in fiscal year 2026.

3. Raymond James downgraded Wingstop (WING) from Strong Buy to Outperform, target price $325 (unchanged)

   The stock was also downgraded by TD Cowen earlier today. Raymond James is cautious about its short-term sales trends.

4. Truist downgraded Texas Roadhouse (TXRH) from Buy to Hold, target price lowered from $206 to $188

   The firm believes beef price inflation will persist at least until 2027, limiting valuation expansion and suppressing margins and earnings expectations.

5. Loop Capital downgraded Monday.com (MNDY) from Buy to Hold, target price lowered from $195 to $80

   The firm said the company’s quarterly performance was “acceptable but not outstanding,” with slower growth in the high-end market and new product adoption lagging expectations. Baird also downgraded Monday.com from Outperform to Neutral, reducing the target price from $175 to $90.

Top Five Initiations/Resumptions

1. Morgan Stanley resumed coverage of Qualcomm (QCOM), rated Underweight, target price $132

   The firm stated that the company’s earnings potential has “peaked,” and memory shortages may create a “difficult” environment for the Android supply chain in the second half of 2026.

2. Barclays resumed coverage of Becton Dickinson (BDX), rated Overweight, target price $202

   Previously, the company sold its life sciences bioprocessing division to Waters.

3. Keefe Bruyette initiated coverage of Dave (DAVE), rated Outperform, target price $250

   The firm expects the core cash advance product ExtraCash to support 20% revenue growth in the medium term.

4. Roth Capital initiated coverage of Orion Group (ORN), rated Buy, target price $17

   The firm believes the company’s maritime division will benefit from long-term, multi-billion dollar spending from U.S. Navy defense projects and port infrastructure upgrades.

5. Stephens initiated coverage of Somnigroup (SGI), rated Neutral, target price $89

   The firm stated that Somnigroup is the world’s largest bedding company.

Editor: Guo Mingyu