Investment Bank Ratings & Recommendations
Report Date: 2026-02-18
⚡ Key Takeaways
📈 Notable Upgrades 5 calls
AAPL
Apple Inc.
↑ Upgrade
Goldman Sachs • Michael Ng 📅 2026-02-17
Neutral → Buy
Old PT 280
New PT 310
Current 263.88
17.5%
Vision Pro adoption exceeding expectations, strong iPhone cycle ahead
XLF
Financial Select SPDR
↑ Upgrade
JPMorgan • Vivek Juneja 📅 2026-02-16
Neutral → Overweight
Old PT 54.00
New PT 58.00
Current 52.20
11.1%
Rising rate environment benefits net interest margins
INTC
Intel Corporation
↑ Upgrade
Morgan Stanley • Joseph Moore 📅 2026-02-15
Underweight → Equal Weight
Old PT 42
New PT 52
Current 46.18
12.6%
Foundry business showing traction, AI chip progress
XLI
Industrial Select SPDR
↑ Upgrade
Bank of America • Ross Seymore 📅 2026-02-14
Neutral → Buy
Old PT 172
New PT 185
Current 175.08
5.7%
Infrastructure spending acceleration, reshoring trends
AMZN
Amazon.com Inc.
↑ Upgrade
Wedbush • Daniel Ives 📅 2026-02-13
Neutral → Outperform
Old PT 210
New PT 240
Current 201.15
19.3%
AWS AI services gaining massive traction, retail margins expanding
📉 Notable Downgrades 4 calls
ORCL
Oracle Corporation
↓ Downgrade
UBS • Karl Keirstead 📅 2026-02-17
Buy → Neutral
Old PT 180
New PT 160
Current 153.97
-3.9%
Cloud transition slower than expected, competitive pressure
CRM
Salesforce Inc.
↓ Downgrade
Citigroup • Tyler Radke 📅 2026-02-16
Buy → Neutral
Old PT 220
New PT 195
Current 184.29
-5.8%
Growth deceleration in enterprise software spending
XLP
Consumer Staples SPDR
↓ Downgrade
Credit Suisse • Robert Moskow 📅 2026-02-15
Outperform → Neutral
Old PT 92
New PT 87
Current 88.20
1.4%
Margin pressure from input cost inflation persisting
TSLA
Tesla Inc.
↓ Downgrade
Bernstein • Toni Sacconaghi 📅 2026-02-14
Market Perform → Underperform
Old PT 450
New PT 380
Current 410.63
7.5%
EV competition intensifying, margin compression ahead
⚖️ Sector Weight Changes 4 changes
Goldman Sachs 📅 2026-02-16
Technology
↓ DOWNGRADED
Overweight → Neutral
Valuations stretched relative to earnings growth, regulatory overhang
Top Picks
AAPLMSFTNVDA
Avoid
CRMADBE
Morgan Stanley 📅 2026-02-15
Financials
↑ UPGRADED
Neutral → Overweight
Rising rates benefit margins, credit normalization complete
Top Picks
JPMBACWFC
Avoid
Regional banks with CRE exposure
Bank of America 📅 2026-02-14
Energy
↑ UPGRADED
Underweight → Neutral
Oil supply constraints emerging, capex discipline maintained
Top Picks
XOMCVXCOP
Avoid
Refiners facing margin pressure
JPMorgan 📅 2026-02-13
Healthcare
↓ DOWNGRADED
Overweight → Neutral
Drug pricing pressure, Medicare negotiations weighing
Top Picks
UNHJNJPFE
Avoid
Biotech with limited pipelines
🎯 Thematic Calls 3 themes
AI Infrastructure Buildout
Goldman Sachs 📅 2026-02-15
BULLISH
Enterprise AI adoption driving unprecedented infrastructure demand, multi-year capex cycle beginning
Beneficiaries
NVDAAMDINTCMSFT
At Risk
Legacy software companies without AI integration
Timeframe: 3-5 years | Conviction: HIGH
Deglobalization Trade
Morgan Stanley 📅 2026-02-12
BULLISH
Reshoring and friend-shoring creating industrial renaissance in developed markets
Beneficiaries
CATDEIndustrial automation
At Risk
China-dependent supply chains
Timeframe: 5-10 years | Conviction: MEDIUM
Energy Transition Acceleration
Barclays 📅 2026-02-10
BULLISH
Policy support and cost curves driving renewable energy adoption inflection
Beneficiaries
Solar equipmentBattery techGrid infrastructure
At Risk
Thermal coalLegacy utilities
Timeframe: 10+ years | Conviction: HIGH
🌍 Market Allocation
Overall Market View
Equities Neutral to slightly overweight - earnings growth supporting valuations but macro risks persist
Bonds Underweight duration, prefer floating rate and credit
Cash 5-10% tactical allocation for opportunities
Regional Preferences
US Overweight - strongest earnings growth, tech dominance
Europe Neutral - structural challenges but valuations attractive
Emerging Markets Underweight - China exposure, dollar strength headwind
China Underweight - geopolitical risks, property sector overhang
Japan Overweight - corporate governance improvements, weak yen benefits
Style Preferences
Growth Vs Value Balanced tilt to quality growth at reasonable prices
Large Vs Small Large cap bias - better positioned for AI themes
Cyclical Vs Defensive Neutral - depends on macro trajectory
💡 Actionable Ideas 2 ideas
Long AAPL vs Short ORCL pair trade
Apple's AI integration driving upgrade cycle while Oracle faces cloud competition
Supported by: Goldman Sachs, Morgan Stanley
⚠️ Risk: Broad tech selloff could hurt both positions
Overweight Financials (XLF) on rising rate theme
Net interest margin expansion with stable credit environment
Supported by: JPMorgan, Bank of America, Morgan Stanley
⚠️ Risk: Economic slowdown could worsen credit conditions