The most talked about and most notable calls for studies on Wall Street are now in one place. Here are today’s research calls that investors need to know, as compiled by The Fly.
Main upgrades:
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More optimistic about the name, improved Northcoast Costco (COST) to buy from neutral with a price target of $1,100.
Main downgrades:
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Raymond James downgraded Knowledge Base Home (KBH) to Market Perform from Outperform without price target. The company cites the company’s “disappointing” fourth-quarter report to justify the downgrade.
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William Blair decommissioned Dynavax (DVAX) moved from Outperform to Market Perform after Sanofi (SNY) announced it was acquiring the company for $15.50 per share. The company, which believes the acquisition “makes sense” given growing regulatory concerns around vaccines and investor questions about management’s value creation strategy, calls Sanofi a “logical acquisition partner.”
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Alliance Global downgraded Spire Global (SPIR) to neutral from buy with a price target of $9, from $17, until there is more evidence of a recovery. Management expects operating cash flow to be positive no later than the fourth quarter of 2026, but the company says that would require a 15% increase over its fourth-quarter 2025 revenue estimate and a $36 million reduction in annual expenses from the most recent quarter, which it considers “unlikely.”
Main initiations:
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Chardan initiated coverage of Hyperliquid Strategies (PURR) with a Buy rating and a price target of $8.15.
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Chardan also initiated coverage of Hyperion DeFi (HYPD) with a Buy rating and a price target of $7.75.
