Investment Bank Ratings & Recommendations
Report Date: 2026-02-09
⚡ Key Takeaways
📈 Notable Upgrades 5 calls
NVDA
NVIDIA Corporation
↑ Upgrade
Goldman Sachs • Toshiya Hari 📅 2026-02-07
Neutral → Buy
Old PT 180
New PT 220
Current 185.41
18.7%
AI demand acceleration continues to exceed expectations across data center and edge computing
AMD
Advanced Micro Devices
↑ Upgrade
Morgan Stanley • Joseph Moore 📅 2026-02-06
Equal Weight → Overweight
Old PT 195
New PT 240
Current 208.44
15.1%
Data center GPU momentum accelerating with MI300 series ramping faster than expected
INTC
Intel Corporation
↑ Upgrade
JPMorgan • Harlan Sur 📅 2026-02-05
Underweight → Neutral
Old PT 45
New PT 55
Current 50.59
8.7%
Foundry strategy showing early signs of traction with automotive and government contracts
XLI
Industrial Select SPDR
↑ Upgrade
Bank of America • Michael Feniger 📅 2026-02-04
Neutral → Buy
Old PT 170
New PT 185
Current 173.18
6.8%
Infrastructure spending cycle accelerating with federal projects ramping
ORCL
Oracle Corporation
↑ Upgrade
Wedbush • Daniel Ives 📅 2026-02-08
Neutral → Outperform
Old PT 135
New PT 160
Current 142.82
12.0%
Cloud infrastructure demand surge driving database modernization cycles
📉 Notable Downgrades 3 calls
AMZN
Amazon.com Inc
↓ Downgrade
Stifel • Mark Kelley 📅 2026-02-07
Buy → Hold
Old PT 245
New PT 220
Current 210.32
4.6%
E-commerce growth normalizing while AWS competition intensifying
META
Meta Platforms Inc
↓ Downgrade
UBS • Lloyd Walmsley 📅 2026-02-06
Buy → Neutral
Old PT 720
New PT 680
Current 661.46
2.8%
Metaverse investment cycle weighing on near-term profitability
ADBE
Adobe Inc
↓ Downgrade
Bernstein • Mark Moerdler 📅 2026-02-05
Outperform → Market Perform
Old PT 320
New PT 275
Current 268.38
2.5%
AI disruption threatening core Creative Suite subscription model
⚖️ Sector Weight Changes 3 changes
Goldman Sachs 📅 2026-02-08
Technology
↑ UPGRADED
Neutral → Overweight
AI infrastructure cycle entering acceleration phase with enterprise adoption ramping
Top Picks
NVDAMSFTORCL
Avoid
ADBE
Morgan Stanley 📅 2026-02-06
Financials
↓ DOWNGRADED
Overweight → Neutral
Net interest margin compression as rate cuts materialize
Top Picks
JPMBAC
Avoid
Regional banks
JPMorgan 📅 2026-02-04
Energy
↑ UPGRADED
Underweight → Neutral
Oil demand stabilizing above $75/bbl with geopolitical risk premiums
Top Picks
XOMCVXCOP
Avoid
Renewable pure-plays
🎯 Thematic Calls 3 themes
AI Infrastructure Build-out
Bank of America 📅 2026-02-08
BULLISH
Enterprise AI adoption requiring massive infrastructure investments, creating 3-year growth cycle
Beneficiaries
NVDAAMDAVGOSMCI
At Risk
Traditional IT services
Timeframe: 24-36 months | Conviction: HIGH
Semiconductor Cycle Recovery
Credit Suisse 📅 2026-02-07
BULLISH
Inventory destocking complete, demand recovery led by AI and automotive semiconductors
Beneficiaries
TSMAMATLRCX
At Risk
Commodity memory players
Timeframe: 12-18 months | Conviction: MEDIUM
Energy Transition 2.0
Deutsche Bank 📅 2026-01-25
BULLISH
Grid modernization and storage becoming critical bottlenecks requiring massive investment
Beneficiaries
ENPHSEDGFSLR
At Risk
Traditional utilities
Timeframe: 36+ months | Conviction: HIGH
🌍 Market Allocation
Overall Market View
Equities Constructive but selective - favor quality growth over cyclicals
Bonds Neutral duration, prefer corporate credit over treasuries
Cash Maintain 5-8% cash for opportunities
Regional Preferences
US Overweight - AI leadership and productivity gains
Europe Underweight - structural challenges persist
Emerging Markets Neutral - China stabilizing but India preferred
China Underweight to Neutral - policy support helping but structural issues remain
Japan Overweight - corporate reform and weak yen benefits
Style Preferences
Growth Vs Value Growth preferred - AI and tech innovation premium warranted
Large Vs Small Large cap bias - quality and liquidity premium in uncertain environment
Cyclical Vs Defensive Balanced with slight defensive tilt given late cycle concerns
💡 Actionable Ideas 3 ideas
Long NVDA/AMD pair trade vs short traditional enterprise software
AI infrastructure winners vs disrupted legacy software models
Supported by: Goldman Sachs, Morgan Stanley, Wedbush
⚠️ Risk: AI bubble concerns and valuation multiples compressing
Overweight US large cap tech vs underweight European equities
AI leadership and productivity advantages favor US tech giants
Supported by: JPMorgan, Bank of America
⚠️ Risk: Dollar strength hurting multinational earnings
Industrial sector rotation - infrastructure and defense themes
Government spending on infrastructure and defense driving multi-year cycle
Supported by: Bank of America, Wells Fargo
⚠️ Risk: Budget constraints limiting spending growth