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Key Research Calls for Investors – Today’s Updates

The latest buzz and crucial research calls reverberating across Wall Street are now gathered in one accessible location. Investors should take note of these significant research updates, meticulously compiled by The Fly to help guide their decision-making processes.

Top Upgrades

BHP Group (BHP)

Argus has upgraded BHP Group (BHP) from Hold to Buy, setting a price target of $68. The research highlights that iron ore, copper, and coal prices—key contributors to BHP’s financial performance—are "firming as the global economy picks up." The firm also notes that BHP is reversing a longstanding bearish trend characterized by lower highs and lower lows, which has persisted since March 2022. This change signals a potential positive shift in market sentiment, making BHP a compelling investment opportunity once again.

Top Downgrades

DigitalBridge (DBRG)

RBC Capital has downgraded DigitalBridge (DBRG) from Outperform to Sector Perform, reducing its price target from $23 to $16. This decision comes following an announcement from SoftBank (SFTBY) regarding its acquisition of DigitalBridge in an all-cash offer valued at $16 per share, translating to a total enterprise value of around $4 billion. Additionally, both B. Riley and TD Cowen have downgraded the stock to Neutral-equivalent ratings, reflecting a cautious outlook among analysts.

Mereo BioPharma (MREO)

Jefferies has downgraded Mereo BioPharma (MREO) from Buy to Hold, slashing its price target from $7 to just 50 cents. The firm notes that Setrusumab failed to meet its primary endpoint in both ORBIT and COSMIC trials, which has significantly impacted Mereo’s stock performance, alongside shares of Ultragenyx (RARE). Jefferies believes that while Ultragenyx has potential for a rebound as it prepares for its Phase III Angelman readout in 2026, Mereo’s go-forward strategy remains risky due to its dependency on pipeline developments and potential partnerships.

Top Initiations

Commvault (CVLT)

Stephens has initiated coverage of Commvault (CVLT) with an Overweight rating and a price target of $162. The firm emphasizes Commvault’s established leadership in the market and its successful transition towards modern data protection solutions. The ongoing efforts to modernize its platform while shifting towards a Software-as-a-Service model are seen as key growth drivers.

Rubrik (RBRK)

Stephens similarly initiated coverage of Rubrik (RBRK) with an Overweight rating and a price target of $105. The firm identifies an attractive growth outlook for Rubrik in the realms of data protection and security, predicting that margin expansion will effectively complement top-line growth.

Varonis (VRNS)

Stephens has also begun coverage of Varonis (VRNS), assigning an Equal Weight rating with a $40 price target. The company is identified as a strong player in data security, benefiting from significant secular trends, and is now operating as a Software-as-a-Service-first platform.

Ero Copper (ERO)

Freedom Capital has initiated coverage on Ero Copper (ERO) with a Buy rating and a price target of $32. The firm praises Ero’s high-grade, low-cost asset portfolio located in Brazil, a region renowned for its mining-friendly regulations and rich mineral resources.

Terra Innovatum (NKLR)

H.C. Wainwright has initiated coverage of Terra Innovatum (NKLR), giving it a Buy rating with a price target of $25. The firm expresses confidence in the company’s strategy of utilizing off-the-shelf components alongside established supply chains to potentially lower the usual technological and regulatory barriers faced by advanced nuclear reactor developers.

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