Uber started, Rivian lowered: Leading analyst picks from Wall Street

Today's Key Wall Street Analyst Actions

Stay updated with the most influential analyst moves and research notes making waves across Wall Street. Below is a summary of the top upgrades, downgrades, and new coverage initiations that investors should be aware of today, as gathered by The Fly.

Top 5 Analyst Upgrades

• Okta (OKTA): Stephens has raised its rating to Overweight from Equal Weight, increasing the price target to $120 from $97. The firm highlights a rising likelihood of accelerated growth in 2026 and sees a favorable risk/reward profile.
• Global Payments (GPN): Seaport Research has upgraded the stock to Buy from Neutral, setting a price target of $109. The analysts expect the Fintech sector to recover this year after a volatile 2025, noting that valuations are reasonable and fundamentals are solid for most companies in the space.
• Prologis (PLD): Scotiabank has moved its rating up to Outperform from Sector Perform, raising the price target to $146 from $133. The firm is now more optimistic about the Industrial REIT subsector ahead of Q4 earnings and has increased its earnings projections for Prologis due to improved occupancy forecasts.
• Fabrinet (FN): Barclays has upgraded Fabrinet to Overweight from Equal Weight, with a new price target of $537, up from $499. The firm believes Fabrinet offers the greatest revenue growth potential among distributors for 2026.
• Cintas (CTAS): Wells Fargo has boosted its rating to Overweight from Equal Weight, lifting the price target to $245 from $205. Despite share price compression in 2025, Wells Fargo expects Cintas to demonstrate strong fundamentals in 2026, supported by its pricing power.

Top 5 Analyst Downgrades

• Rivian (RIVN): UBS has lowered its rating to Sell from Neutral, though the price target rises to $15 from $13. The downgrade is attributed to what UBS sees as overly optimistic expectations for the upcoming R2 launch.
• Warner Bros. Discovery (WBD): Guggenheim has cut its rating to Neutral from Buy, raising the price target to $30 from $25. The firm cites uncertainty following the board's support for a Netflix (NFLX) offer and Paramount's (PSKY) legal action related to its $30 per share bid, which tempers confidence in further bids.
• Tapestry (TPR): Jefferies has downgraded the stock to Hold from Buy, with a reduced price target of $138 from $142. The change follows a shift in analyst coverage and reflects a more balanced risk/reward outlook after recent share gains.
• BlackRock (BLK): TD Cowen has moved its rating down to Hold from Buy, lowering the price target to $1,209 from $1,407. While the firm remains positive on BlackRock long-term, it notes a lack of near-term catalysts as 2026 approaches.
• KKR (KKR): TD Cowen has also downgraded KKR to Hold from Buy, with a new price target of $131, down from $146. The firm is adjusting its stance ahead of Q4 results, citing a more complex macro-to-fundamental outlook across the sector.

Top 5 New Analyst Coverages

• Uber (UBER): BNP Paribas has started coverage with an Outperform rating and a $108 price target. The firm considers Uber a leader in mobility and delivery, even as autonomous vehicles become more prevalent.
• DoorDash (DASH): BNP Paribas has initiated coverage with an Outperform rating and a $280 price target. DoorDash is seen as a major player in food delivery, and despite a high valuation, is expected to benefit from continued strong execution.
• Snap (SNAP): BNP Paribas has begun coverage with an Underperform rating and an $8 price target. The firm points to ongoing declines in the U.S. and weak growth in Europe, and is watching for signs that investments are boosting monetization.
• AppLovin (APP): Evercore ISI has initiated coverage with an Outperform rating and an $835 price target. AppLovin is described as the leading ad tech platform for mobile gaming, with a growing presence in e-commerce, and is expected to maintain strong revenue and EBITDA growth through 2028.
• Hyatt (H): Goldman Sachs has resumed coverage with a Buy rating and a $198 price target. The firm believes Hyatt is well-positioned to benefit from strength among higher-end consumers.