Arcellx initiated, Cummins upgraded: Wall Street's top analyst calls

2 hours ago 1

The Fly

Mon, December 22, 2025 astatine 8:47 AM CST 3 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 Upgrades:

Raymond James upgraded Cummins (CMI) to Outperform from Market Perform with a $585 terms target. The firm's check-in with U.S. motortruck dealers suggests that portion the near-term code cautious, reflective of an extended freight recession, determination was a "notable alteration successful sentiment" regarding the 2nd fractional of 2026.
Loop Capital upgraded Ollie's Bargain Outlet (OLLI) to Buy from Hold with a terms people of $135, up from $130, pursuing a caller store tour. The steadfast believes investors are underestimating Ollie's comp imaginable successful fiscal 2026.
More bullish connected the name, Bradesco BBI upgraded Volaris (VLRS) to Outperform from Neutral with a $12 terms target.

Top Downgrades:

Citi downgraded Amicus (FOLD) to Neutral from Buy with a terms people of $14.50, down from $17, aft BioMarin (BMRN) announced it volition get Amicus for $4.8B oregon $14.50 per share. Citi sees debased imaginable for different bidder emerging.
Raymond James treble downgraded Sealed Air (SEE) to Market Perform from Strong Buy without a terms target. The take-private connection from CD&R concluded its "go-shop" play connected December 16, which narrows the likelihood of a topping bid, the steadfast tells investors successful a probe note.
William Blair downgraded Clearwater Analytics (CWAN) to Market Perform from Outperform without a terms people aft the institution entered into an statement for an all-cash take-private woody astatine $24.55 per share. Oppenheimer besides downgraded Clearwater Analytics to Perform from Outperform without a terms target.
Janney Montgomery Scott downgraded Heritage Commerce (HTBK) to Neutral from Buy with a $14 just worth estimation aft the institution announced an statement to beryllium acquired by CVB Financial (CVBF).

Top Initiations:

Wells Fargo initiated sum of Arcellx (ACLX) with an Overweight standing and $100 terms target. The steadfast views the company's anito-cel arsenic a "future pillar" successful the attraction of aggregate myeloma.
Jefferies initiated sum of BlackSky (BKSY) with a Buy standing and $23 terms target. BlackSky's unsocial space-based imagery offering and a refreshed constellation by year-end 2026 presumption it good to grow the topline astatine astir 25% per year, says the firm, which sees income doubling done 2028 to $211M, up from $108M today.
BTIG initiated sum of Invivyd (IVVD) with a Buy standing and $10 terms target. The institution has a proven way grounds of producing effectual antibodies, the steadfast tells investors successful a probe note.
Jefferies initiated sum of Relmada Therapeutics (RLMD) with a Buy standing and $9 terms target. The steadfast says the institution has undergone a translation successful 2025, shifting from a failed cardinal tense strategy programme to an oncology and neuro pipeline.
Seaport Research initiated sum of MasterCraft Boat (MCFT) with a Neutral standing and nary terms target. While affirmative connected the U.S. user and believing that the highly cyclical marine manufacture is poised to turn portion income successful calendar 2026, the steadfast says MasterCraft's marine vulnerability "happens to beryllium successful 2 of the astir competitory and pressured areas of marine," namely ski/wake and pontoons.