CoreWeave upgraded, IBM initiated: Wall Street's top analyst calls

CoreWeave upgraded, IBM initiated: Wall Street's top analyst calls The Fly Wed, July 22, 2026 at 3:44 PM GMT+2 4 min read CRWV MSFT RL ECL NVDA CoreWeave upgraded, IBM initiated: Wall Street's top analyst calls The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly. Top 5 Upgrades:  Truist upgraded CoreWeave (CRWV) to Buy from Hold with a price target of $126, down from $131.

As more enterprises move toward open models and sovereign AI, the firm believes demand for compute will only increase, benefiting CoreWeave, though shares trade at a significant discount to neoclouds despite the company's "leadership position. " Stifel upgraded DigitalOcean (DOCN) to Buy from Hold with a price target of $160, up from $135. The firm cites valuation for the upgrade with the shares down 30% from recent highs.

Wells Fargo upgraded Idacorp (IDA) to Equal Weight from Underweight with a price target of $154, up from $121. Wells' higher estimates indicate the shares are cheaper than it screens. Wells Fargo upgraded NorthWestern Energy (NWE) to Equal Weight from Underweight with a price target of $62, up from $54.

The pending merger with Black Hills (BKH) has cleared every hurdle except Montana, the firm tells investors in a research note. TD Cowen upgraded Genmab (GMAB) to Buy from Hold with a price target of $43, up from $32. The firm is confident that Epkinly, rinatabart sesutecan and petosemtamab will offset Genmab's $3.

6B Darzalex patent cliff. Top 5 Downgrades: Citizens downgraded Pegasystems (PEGA) to Market Perform from Outperform without a price target. The company announced "disappointing" Q2 results, saying "unprecedented changes in the AI market caused clients to delay their purchasing decisions.

" JPMorgan downgraded Crown Holdings (CCK) to Neutral from Overweight with a price target of $121, up from $107. JPMorgan cites valuation for the downgrade post the World Cup volume benefits. Citi downgraded Marsh McLennan (MRSH) to Neutral from Buy with an unchanged price target of $200.

The firm cites valuation for the downgrade, seeing a balanced risk/reward at current share levels. Jefferies downgraded Amcor (AMCR) to Hold from Buy with a price target of $44. 92, down from $51.

36. The stock has rebounded from Middle East-related lows as cost concerns have eased, but a sustained multiple re-rating relies on a positive volume inflection, which the firm sees as "unlikely" given ongoing structural challenges, the firm tells investors. Raymond James downgraded Roper Technologies (ROP) to Market Perform from Strong Buy after assuming coverage of the name.

Roper remains an attractive vertical software company with strong free cash flow and durable customer relationships, though its valuation appears fair and near-term upside may depend on a recovery in merger and acquisition activity, the analyst tells investors in a research note. Peterson also downgraded Tri mble (TRMB) to Market Perform after assuming coverage of the stock. Story Continues Top 5 Initiations:  Baird initiated coverage of IBM (IBM) with a Neutral rating and $230 price target.

While "positive" on IBM's hybrid cloud AI strategy, software positioning, and operating model, the recent negative pre-announcement puts "existing software growth concerns and mainframe durability questions front and center," says the firm, which sees concerns on lower growth in these areas "capping share-price upside near-term. " Baird initiated coverage of CoreWeave (CRWV) with an Outperform rating and $100 price target. The firm believes current market concerns on the supply-side of building "underscore the importance of execution at a time when demand far outpaces supply.

" Baird also started coverage of Nebius (NBIS) with an Outperform. Bernstein initiated coverage of Affirm (AFRM) with an Outperform rating and $100 price target. The firm, which forecasts a GMV compound annual growth rate of 28% from 2026-29, calls the current valuation "attractive.

" Cantor Fitzgerald initiated coverage of Generac (GNRC) with an Overweight rating and $325 price target. Cantor expects the data center build cycle to leave the company with a "materially better" earnings mix, anchored by a "high-margin" residential franchise. BTIG initiated coverage of Philip Morris (PM) with a Buy rating and $216 price target.

The company has executed its transition to reduced-risk products exceptionally well, maintaining a resilient combustible business while establishing a leading premium reduced-risk portfolio that continues to outpace peers and support its valuation, the firm tells investors in a research note.