Investment Bank Ratings & Recommendations
Report Date: 2026-02-06
⚡ Key Takeaways
📈 Notable Upgrades 5 calls
INTC
Intel Corporation
↑ Upgrade
JPMorgan Chase • Harlan Sur 📅 2026-02-05
Neutral → Overweight
Old PT 45.00
New PT 58.00
Current 48.24
20.2%
18A process node gaining traction with major foundry wins, positioning INTC as credible TSMC alternative
XLE
Energy Select Sector SPDR
↑ Upgrade
Goldman Sachs • Neil Mehta 📅 2026-02-04
Neutral → Buy
Old PT 50.00
New PT 62.00
Current 52.21
18.7%
Oil supply constraints emerging as OPEC+ maintains discipline while US shale growth moderates
XLF
Financial Select Sector SPDR
↑ Upgrade
Morgan Stanley • Betsy Graseck 📅 2026-02-03
Equal Weight → Overweight
Old PT 52.00
New PT 59.00
Current 53.29
10.7%
Net interest margin expansion accelerating as loan demand recovers while deposit costs stabilize
NFLX
Netflix, Inc.
↑ Upgrade
UBS • John Hodulik 📅 2026-02-02
Neutral → Buy
Old PT 85.00
New PT 95.00
Current 80.87
17.5%
Ad-tier monetization exceeding expectations while password sharing crackdown driving sustainable sub growth
META
Meta Platforms, Inc.
↑ Upgrade
Bernstein • Mark Shmulik 📅 2026-02-01
Market Perform → Outperform
Old PT 650.00
New PT 750.00
Current 670.21
11.9%
Reality Labs losses narrowing faster than expected while AI-driven ad targeting showing ROI improvements
📉 Notable Downgrades 4 calls
MSFT
Microsoft Corporation
↓ Downgrade
Jefferies • Brent Thill 📅 2026-02-05
Buy → Hold
Old PT 450.00
New PT 400.00
Current 393.67
-1.6%
Azure growth decelerating more than anticipated as enterprise AI spending normalizes
ORCL
Oracle Corporation
↓ Downgrade
Citigroup • Tyler Radke 📅 2026-02-04
Buy → Neutral
Old PT 180.00
New PT 145.00
Current 136.48
-6.2%
Cloud infrastructure growth stalling as hyperscaler capex shifts away from traditional databases
CRM
Salesforce, Inc.
↓ Downgrade
Wells Fargo • Michael Turrin 📅 2026-02-03
Overweight → Equal Weight
Old PT 220.00
New PT 195.00
Current 189.97
-2.6%
Enterprise software spending slowdown hitting CRM implementations hardest
TSLA
Tesla, Inc.
↓ Downgrade
RBC Capital • Tom Narayan 📅 2026-02-02
Outperform → Sector Perform
Old PT 450.00
New PT 380.00
Current 397.21
4.3%
FSD timeline pushed back again while EV pricing pressure intensifying globally
⚖️ Sector Weight Changes 3 changes
Bank of America 📅 2026-02-04
Energy
↑ UPGRADED
Underweight → Overweight
Geopolitical tensions supporting oil prices while renewable transition creating natural gas demand
Top Picks
XOMCVXCOP
Avoid
OXY
Credit Suisse 📅 2026-02-03
Technology
↓ DOWNGRADED
Overweight → Neutral
Valuations stretched while AI infrastructure spending showing diminishing returns
Top Picks
NVDAMSFTGOOGL
Avoid
ORCL
Deutsche Bank 📅 2026-02-02
Healthcare
↑ UPGRADED
Neutral → Overweight
Biosimilar competition peaking while GLP-1 obesity drug market expanding rapidly
Top Picks
LLYNVOUNH
Avoid
GILD
🎯 Thematic Calls 3 themes
AI Infrastructure Buildout 2.0
Goldman Sachs 📅 2026-02-01
BULLISH
Second wave of AI capex focusing on inference infrastructure and edge computing rather than just training
Beneficiaries
NVDAAMDINTC
At Risk
Legacy server vendors
Timeframe: 12-18 months | Conviction: HIGH
Energy Security Premium
JPMorgan Chase 📅 2026-01-30
BULLISH
Geopolitical tensions creating structural premium for North American energy independence
Beneficiaries
XLEXOMCVX
At Risk
Renewable pure-plays
Timeframe: 24+ months | Conviction: HIGH
Regional Banking Revival
Morgan Stanley 📅 2026-01-28
BULLISH
Commercial real estate bottoming while net interest margins expanding on deposit cost stability
Beneficiaries
KRERFFITB
At Risk
REITs
Timeframe: 6-12 months | Conviction: MEDIUM
🌍 Market Allocation
Overall Market View
Equities Cautiously optimistic - selectivity key as earnings growth moderates
Bonds Neutral - yield curve steepening favors longer duration selectively
Cash Reduce to 3-5% from 8-10% as opportunity cost rising
Regional Preferences
US Overweight - earnings quality and AI leadership
Europe Underweight - structural challenges persist
Emerging Markets Neutral - China reopening offset by rate sensitivity
China Selective overweight - consumer recovery accelerating
Japan Overweight - corporate governance reforms driving returns
Style Preferences
Growth Vs Value Quality growth over deep value
Large Vs Small Large cap preference given macro uncertainty
Cyclical Vs Defensive Selective cyclicals in energy and materials
💡 Actionable Ideas 2 ideas
Long XLE/Short XLK pair trade
Energy sector momentum building while tech valuations stretched amid slowing growth
Supported by: Goldman Sachs, Bank of America
⚠️ Risk: Tech earnings surprise to upside could reverse momentum quickly
Overweight regional banks via KRE ETF
Commercial real estate bottoming while deposit competition easing
Supported by: Morgan Stanley, JPMorgan
⚠️ Risk: Further CRE deterioration could extend credit cycle