Carvana initiated, Zscaler downgraded: Wall Street's top analyst calls

39 minutes ago 1

The Fly

Mon, December 1, 2025 astatine 8:46 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:

Goldman Sachs upgraded Chime (CHYM) to Buy from Neutral with a terms people of $27, up from $26, which offers 28% upside. The steadfast believes the marketplace is underappreciating the instrumentality complaint tailwinds from Chime's caller Chime Card.
BNP Paribas Exane upgraded Toast (TOST) to Outperform from Neutral with a $40 terms target. While contention successful point-ot-sale bundle for restaurants is accelerating, Toast's enactment is intact, the steadfast tells investors successful a probe note.
B. Riley upgraded Kratos Defense (KTOS) to Buy from Neutral with an unchanged terms people of $105. The steadfast sees a favorable risk/reward astatine existent stock levels, saying Kratos has "ample proprietary" intelligence spot "enabling an array of affordable solutions."
JonesResearch upgraded Spyre Therapeutics (SYRE) to Buy from Hold with a $64 terms target. Ahead of updates successful 2026, the steadfast believes the stock's risk/reward "now skews positive."
TD Securities upgraded New Gold (NGD) to Buy from Hold with a terms people of $12, up from $7.50. The steadfast cites the projected all-stock acquisition by Coeur Mining (CDE) for the upgrade.

Top 5 Downgrades:

Bernstein downgraded Zscaler (ZS) to Market Perform from Outperform with an unchanged terms people of $264. While Zscaler continues to execute well, the company's fiscal Q1 study "added communicative issues" regarding 2026 yearly recurring gross guidance, driving concerns astir accrued competition, the steadfast tells investors successful a probe note.
Baird downgraded Titan Machinery (TITN) to Neutral from Outperform with a terms people of $21, down from $24. The steadfast says further declines successful some the company's U.S. and Europe businesses volition unit its net and publication value.
Barclays downgraded Crown Castle (CCI) to Equal Weight from Overweight with a terms people of $101, down from $104. The steadfast says collecting rent from EchoStar whitethorn beryllium challenging for the operation companies.
Evercore ISI downgraded VICI Properties (VICI) to In Line from Outperform with a terms people of $32, down from $36. The steadfast has increasing concerns implicit the determination gaming lease with Caesars (CZR) and however a debased sum ratio gets resolved.
RBC Capital downgraded PTC Therapeutics (PTCT) to Sector Perform from Outperform with a terms people of $91, up from $82. With the shares rallying astir 75% successful the past 3 months, RBC's thesis has mostly played out, the steadfast tells investors successful a probe note.