Starbucks initiated, Expedia downgraded: Wall Street's top analyst calls

Starbucks initiated, Expedia downgraded: Wall Street's top analyst calls The Fly Wed, September 16, 2026 at 3:42 PM GMT+2 4 min read UNP GOLF HIG YUM BAND Starbucks initiated, Expedia downgraded: 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: Wolfe Research upgraded Paychex (PAYX) to Peer Perform from Underperform without a price target.

The firm sees reduced estimate risk for the company amid stable employment trends. UBS upgraded Union Pacific (UNP) to Buy from Neutral with a price target of $339, up from $310. The firm says its analysis of key customer markets points to a second year of strong volume growth in 2027 for Union Pacific.

Needham upgraded Rocket Pharmaceuticals (RCKT) to Buy from Hold with a $9 price target after the FDA reaffirmed the pivotal study design for RP-A501 in Danon Disease, except for a recalibrated dose and prophylaxis. Needham upgraded Similarweb (SMWB) to Buy from Hold with an $11 price target after meeting with management. Needham was encouraged by AI's potential to increase the value and consumption of Similarweb's data.

JPMorgan upgraded Credicorp (BAP) to Overweight from Neutral with a price target of $482, up from $453 after reshuffling Andean bank preferences. Despite El Nino risk, which also somewhat impacts Colombian banks, the firm sees Credicorp as "a good name for investors willing to compound EPS growth with a high ROE. " Top 5 Downgrades: Morgan Stanley downgraded Expedia (EXPE) to Underweight from Equal Weight with a $235 price target after a transfer in analyst coverage.

The firm cites the company's "weaker" consumer assets, higher supplier direct risk, and the stock's valuation premium versus history for the downgrade. Truist downgraded Meritage Homes (MTH) to Hold from Buy with a price target of $72, down from $80. The firm previously thought Meritage could show benefits from declining incentives before the rest of the group, but it now sees increased risk of incentive ramping at the company.

Mizuho downgraded Hartford (HIG) to Neutral from Outperform with a price target of $154, down from $163. The firm expects pressure on Hartford's underwriting results from mix shift and pricing pressure as well as slowing net favorable prior year development due to less worker's comp redundancy remaining and continued liability pressure. Itau BBA downgraded Nubank (NU) to Market Perform from Outperform with a price target of $18, down from $20.

The company's near- and long-term outlooks remain solid, but its medium-term outlook has "become more uncertain," the firm tells investors in a research note. Barclays double downgraded Cellectis (CLLS) to Underweight from Overweight with a price target of $1. 30, down from $9.

Cellectis' strategic shift and move back to a preclinical stage company is "not the issue," rather the preclinical data offered to-date "leaves us with questions," the firm tells investors in a research note. Story Continues Top 5 Initiations: Seaport Research initiated coverage of Starbucks (SBUX) with a Neutral rating. The firm notes the company's brand affinity, consideration and purchase intent are all at five-year highs, but says the stock is "close to fair value.

" Seaport Research also started coverage of Chipotle (CMG) , McDonald's (MCD) , Shake Shack (SHAK) , Domino's Pizza (DPZ) and Wendy's (WEN) with Neutral ratings. Seaport Research initiated coverage of Yum! Brands (YUM) with a Buy rating and $162 price target.

The company is among the most consistent compound growth stories in quick service restaurants, the firm tells investors in a research note. Seaport Research also started coverage of Restaurant Brands (QSR) , Brinker (EAT) , Darden (DRI) , Texas Roadhouse (TXN) , Cava Group (CAVA) and Dutch Bros (BROS) with Buy ratings. FBN Securities initiated coverage of Five9 (FIVN) with an Outperform rating and $40 price target.

The voice-led enterprise customer-experience platform operator's investment case has shifted from a de-rated, slow-growth CCaaS vendor to an emerging AI-CX growth story whose bull case "rests on a genuine AI inflection," the firm tells investors BofA initiated coverage of Bandwidth (BAND) with a Neutral rating and $60 price target. The provider of communications platforms has "solid advantages," but its AI voice and Maestro offerings are "far from becoming material growth drivers," the firm notes. Stephens initiated coverage of Acushnet Holdings (GOLF) with an Equal Weight rating and $88 price target.

Acushnet owns two of golf's "most recognizable brands" in Titleist and FootJoy, says the firm, which cites a combination of above-trend valuation and likely below-trend next twelve months profit growth for the neutral rating.