Investment Bank Ratings & Recommendations
Report Date: 2025-12-25
⚡ Key Takeaways
📈 Notable Upgrades 5 calls
ORCL
Oracle Corporation
↑ Upgrade
Goldman Sachs • Kash Rangan 📅 2025-12-23
Neutral → Buy
Old PT 180
New PT 220
Current 197.49
11.4%
Oracle's cloud infrastructure momentum accelerating with enterprise AI workloads
XLF
Financial Select Sector SPDR Fund
↑ Upgrade
JPMorgan • Vivek Juneja 📅 2025-12-22
Neutral → Overweight
Old PT 52
New PT 60
Current 55.73
7.7%
Higher for longer rates benefiting net interest margins across regional banks
CRM
Salesforce, Inc.
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Morgan Stanley • Keith Weiss 📅 2025-12-21
Equal Weight → Overweight
Old PT 250
New PT 300
Current 265.26
13.1%
Agentforce AI platform driving new revenue streams and margin expansion
XLV
Health Care Select Sector SPDR Fund
↑ Upgrade
Bank of America • Geoff Meacham 📅 2025-12-20
Neutral → Buy
Old PT 150
New PT 165
Current 155.80
5.9%
Defensive characteristics attractive as growth concerns mount
AMD
Advanced Micro Devices, Inc.
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Mizuho Securities • Vijay Rakesh 📅 2025-12-19
Neutral → Buy
Old PT 200
New PT 250
Current 215.04
16.3%
MI300 AI accelerator gaining significant enterprise traction vs NVIDIA
📉 Notable Downgrades 4 calls
INTC
Intel Corporation
↓ Downgrade
UBS • Timothy Arcuri 📅 2025-12-24
Neutral → Sell
Old PT 40
New PT 30
Current 36.16
-17.0%
Foundry losses mounting while AI chip efforts lag competitors significantly
XLE
Energy Select Sector SPDR Fund
↓ Downgrade
Citigroup • Alastair Syme 📅 2025-12-23
Buy → Neutral
Old PT 50
New PT 42
Current 44.37
-5.3%
Oil demand concerns and renewable transition headwinds accelerating
NFLX
Netflix, Inc.
↓ Downgrade
Wells Fargo • Steven Cahall 📅 2025-12-22
Overweight → Equal Weight
Old PT 110
New PT 95
Current 93.64
1.5%
Streaming wars intensifying with Disney and Amazon ramping content spend
ADBE
Adobe Inc.
↓ Downgrade
Deutsche Bank • Brad Zelnick 📅 2025-12-21
Buy → Hold
Old PT 400
New PT 340
Current 352.98
-3.7%
Generative AI disruption creating headwinds for traditional creative tools
⚖️ Sector Weight Changes 4 changes
Goldman Sachs 📅 2025-12-23
Technology
↓ DOWNGRADED
Overweight → Neutral
Valuation concerns after 2024 AI rally, rotating to quality cyclicals
Top Picks
MSFTGOOGLORCL
Avoid
INTC
Morgan Stanley 📅 2025-12-22
Financials
↑ UPGRADED
Neutral → Overweight
Higher rates environment and credit normalization supporting earnings
Top Picks
JPMBACGS
Avoid
Regional banks with CRE exposure
JPMorgan 📅 2025-12-20
Healthcare
↑ UPGRADED
Underweight → Neutral
Defensive characteristics and strong drug pipelines attractive
Top Picks
JNJPFEABBV
Avoid
Biotech with weak balance sheets
Bank of America 📅 2025-12-21
Energy
↓ DOWNGRADED
Neutral → Underweight
Demand destruction concerns and renewable transition acceleration
Top Picks
XOMCVX
Avoid
Smaller E&P names
🎯 Thematic Calls 4 themes
AI Infrastructure Buildout
Goldman Sachs 📅 2025-12-20
BULLISH
Enterprise AI adoption driving unprecedented infrastructure demand through 2026
Beneficiaries
NVDAAMDAVGO
At Risk
Legacy hardware vendors
Timeframe: 18-24 months | Conviction: HIGH
US Manufacturing Renaissance
Morgan Stanley 📅 2025-12-18
BULLISH
Reshoring and CHIPS Act driving domestic manufacturing investment cycle
Beneficiaries
CATDEHON
At Risk
Pure China plays
Timeframe: 2-3 years | Conviction: MEDIUM
Obesity Drug Revolution
JPMorgan 📅 2025-12-15
BULLISH
GLP-1 drugs creating massive TAM expansion beyond diabetes
Beneficiaries
LLYNVO
At Risk
Traditional weight management companies
Timeframe: 5+ years | Conviction: HIGH
China Reopening Fade
Bank of America 📅 2025-12-12
BEARISH
Structural challenges in Chinese economy outweigh stimulus measures
Beneficiaries
Domestic US plays
At Risk
BABAPDDJD
Timeframe: 12-18 months | Conviction: MEDIUM
🌍 Market Allocation
Overall Market View
Equities Neutral weight - Late cycle dynamics with selective opportunities
Bonds Underweight - Higher for longer rate environment challenges duration
Cash 5-10% tactical allocation for opportunities
Regional Preferences
US Overweight - Domestic growth and AI leadership
Europe Underweight - Structural challenges and energy headwinds
Emerging Markets Neutral - Selective opportunities ex-China
China Underweight - Policy uncertainty and structural headwinds
Japan Overweight - Corporate governance improvements and weak yen
💡 Actionable Ideas 0 ideas
No actionable ideas