Booking, Carvana upgraded: Wall Street's top analyst calls

6 days ago 5

The Fly

Mon, November 24, 2025 astatine 8:41 AM CST 4 min read

The astir talked astir and marketplace moving probe calls astir Wall Street are present successful 1 place. Here are today's probe calls that investors request to know, arsenic compiled by The Fly.

Top 5 Upgrades:

Wedbush upgraded Carvana (CVNA) to Outperform from Neutral with a terms people of $400, up from $380. The steadfast believes the caller pullback successful shares is overdone, and investors should instrumentality vantage of this play of comparative weakness.
BofA upgraded Booking Holdings (BKNG) to Buy from Neutral with an unchanged terms people of $6,000. The steadfast believes concerns astir disintermediation risks to Booking from Google (GOOGL) and OpenAI's Agentic tools are "overdone" and sees AI-related selloff successful shares arsenic 1 that creates a buying opportunity.
HSBC upgraded Flutter Entertainment (FLUT) to Buy from Hold with a terms people of $228, down from $265. The steadfast sees a buying accidental pursuing the caller selloff successful the shares.
Wolfe Research upgraded Morgan Stanley (MS) to Outperform from Peer Perform with a $198 terms target. Revenue maturation is poised to accelerate from some stock gains successful concern banking and accelerating integrated maturation successful wealthiness management, the steadfast tells investors.
Wells Fargo upgraded Merck (MRK) to Overweight from Equal Weight with a terms people of $125, up from $90. Following caller concern development, pipeline progress, and caller launches, the steadfast sees Merck filling the shortfall from Keytruda LOE and increasing gross successful the aboriginal 2030s.

Top 5 Downgrades:

UBS downgraded JFrog (FROG) to Neutral from Buy with a terms people of $65, up from $48, aft resuming sum of the name. While AI-related tailwinds are meaningful, the larger gross interaction apt remains 12-18 months out, the steadfast says, adding that the beardown positioning appears mostly reflected successful the valuation.
Jefferies downgraded Exact Sciences (EXAS) to Hold from Buy with a terms people of $105, up from $90, citing the pending acquisition by Abbott (ABT). The steadfast thinks the takeover premium represents a triumph for Exact Sciences and does not expect different bidder to travel implicit the apical fixed precedent woody multiples.
Evercore ISI downgraded QuantumScape (QS) to In Line from Outperform with a terms people of $12, up from $8. The steadfast cites valuation for the downgrade with the shares up 200% year-to-date.
UBS downgraded Jazz Pharmaceuticals (JAZZ) to Neutral from Buy with a terms people of $188, up from $163. Following the beardown Phase 3 GEA update and a 25% banal move, Jazz present appears reasonably valued with a balanced risk/reward profile, the steadfast tells investors successful a probe note.
TD Cowen downgraded PureCycle Technologies (PCT) to Hold from Buy with a terms people of $9, down from $16. Orders person been delayed and the steadfast is assuming delays to the company's maturation plan, truthful it moves to the sidelines for present arsenic it lets the institution beryllium retired the worth proposition and show profitability.