Investment Bank Ratings & Recommendations
Report Date: 2026-01-02
⚡ Key Takeaways
📈 Notable Upgrades 5 calls
INTC
Intel Corporation
↑ Upgrade
Jefferies • Mark Lipacis 📅 2025-12-31
Hold → Buy
Old PT 42
New PT 48
Current 36.90
30.1%
Foundry business inflection point with AI chip partnerships and government subsidies accelerating
XLE
Energy Select Sector SPDR
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Goldman Sachs • Neil Mehta 📅 2025-12-30
Neutral → Overweight
Old PT 45
New PT 52
Current 44.71
16.3%
Oil price floor established, capex discipline maintaining returns, geopolitical risk premium returning
XLF
Financial Select Sector SPDR
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Morgan Stanley • Betsy Graseck 📅 2026-01-02
Equal Weight → Overweight
Old PT 56
New PT 62
Current 54.77
13.2%
Rate environment stabilizing with credit cycle bottoming, loan growth acceleration expected
ORCL
Oracle Corporation
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Wedbush • Dan Ives 📅 2025-12-28
Neutral → Outperform
Old PT 185
New PT 225
Current 194.91
15.4%
Cloud infrastructure demand surge from AI workloads, Oracle positioned to capture enterprise migration
XLI
Industrial Select Sector SPDR
↑ Upgrade
UBS • Steven Fisher 📅 2025-12-27
Neutral → Buy
Old PT 152
New PT 168
Current 155.12
8.3%
Infrastructure spending cycle beginning with bipartisan support, manufacturing reshoring accelerating
📉 Notable Downgrades 4 calls
META
Meta Platforms, Inc.
↓ Downgrade
BMO Capital • Daniel Salmon 📅 2025-12-31
Outperform → Market Perform
Old PT 720
New PT 680
Current 660.09
-3.0%
Ad market headwinds intensifying, metaverse investments showing limited ROI visibility
TSLA
Tesla, Inc.
↓ Downgrade
Bernstein • Toni Sacconaghi 📅 2026-01-01
Market Perform → Underperform
Old PT 420
New PT 380
Current 449.72
15.5%
EV demand normalization, increased competition eroding market share and margins
NFLX
Netflix, Inc.
↓ Downgrade
Needham • Laura Martin 📅 2025-12-29
Buy → Hold
Old PT 105
New PT 95
Current 93.76
-1.3%
Subscriber growth plateau reached in core markets, content cost inflation pressures intensifying
XLP
Consumer Staples Select Sector SPDR
↓ Downgrade
Credit Suisse • Kaumil Gajrawala 📅 2025-12-26
Neutral → Underweight
Old PT 80
New PT 75
Current 77.68
3.4%
Margin compression from input cost inflation, consumer trading down to private label accelerating
⚖️ Sector Weight Changes 4 changes
JPMorgan 📅 2025-12-30
Energy
↑ UPGRADED
Underweight → Overweight
Geopolitical tensions supporting oil prices, capex discipline creating cash flow abundance
Top Picks
XOMCVXSLB
Avoid
Renewable energy stocks with subsidy uncertainty
Bank of America 📅 2026-01-02
Technology
↓ DOWNGRADED
Overweight → Neutral
Valuation stretched after 2025 gains, AI investment cycle maturing, regulation risks rising
Top Picks
NVDAMSFTGOOGL
Avoid
High-multiple software names
Wells Fargo 📅 2025-12-28
Healthcare
↑ UPGRADED
Neutral → Overweight
Defensive characteristics attractive, drug pricing pressures easing, innovation cycle accelerating
Top Picks
JNJUNHLLY
Avoid
Generic drug manufacturers
Citigroup 📅 2025-12-31
Industrials
↑ UPGRADED
Underweight → Neutral
Infrastructure spending cycle beginning, aerospace recovery continuing, reshoring beneficiaries
Top Picks
BACATGE
Avoid
Residential construction exposed names
🎯 Thematic Calls 4 themes
AI Infrastructure Build-out 2.0
Goldman Sachs 📅 2025-12-30
BULLISH
Enterprise AI adoption accelerating beyond hyperscalers, edge computing demand surge creating new infrastructure requirements
Beneficiaries
NVDAAMDMRVL
At Risk
Legacy server manufacturers
Timeframe: 12-24 months | Conviction: HIGH
Energy Security Premium
Morgan Stanley 📅 2025-12-29
BULLISH
Geopolitical tensions creating structural shift toward energy independence, strategic petroleum reserves needing replenishment
Beneficiaries
XOMCVXCOP
At Risk
Renewable developers dependent on subsidies
Timeframe: 6-18 months | Conviction: HIGH
GLP-1 Disruption Cycle
Barclays 📅 2025-12-27
BULLISH
Weight loss drugs creating ripple effects across multiple industries, market penetration accelerating
Beneficiaries
LLYNVOfitness companies
At Risk
Food companiesmedical device companies
Timeframe: 24-36 months | Conviction: MEDIUM
Quantum Computing Commercial Viability
Deutsche Bank 📅 2025-12-26
BULLISH
Recent breakthrough in error correction bringing commercial applications closer, government funding increasing
Beneficiaries
IBMGOOGLquantum pure-plays
At Risk
Current encryption technology providers
Timeframe: 36-60 months | Conviction: LOW
🌍 Market Allocation
No allocation data
💡 Actionable Ideas 0 ideas
No actionable ideas