Spotify initiated, Airbnb upgraded: Wall Street's top analyst calls

3 weeks ago 11

The Fly

Wed, December 17, 2025 astatine 8:33 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:

RBC Capital upgraded Airbnb (ABNB) to Outperform from Sector Perform with a terms people of $170, up from $145. The steadfast sees an "increasingly charismatic marque monetization story," saying archetypal enactment information is apt worthy a premium successful the evolving user artificial quality landscape.
Wells Fargo upgraded Texas Roadhouse (TXRH) to Overweight from Equal Weight with a terms people of $195, up from $170. The steadfast believes comparable income momentum endures, beef headwinds are cyclical and priced in, and casual eating should beryllium a comparative 2026 winner.
Jefferies upgraded Procter & Gamble (PG) to Buy from Hold with a terms people of $179, up from $156. The institution enters 2026 connected a firmer footing, arsenic the user backdrop is stabilizing, and comps go easier, particularly arsenic retail destocking is lapped, the steadfast tells investors successful a probe note.
DA Davidson upgraded Guidewire (GWRE) to Buy from Neutral with an unchanged $246 terms target. The banal has pulled backmost astir 20% aft the company's Q1 results successful aboriginal December, but Guidewire should beryllium considered arsenic a halfway holding for investors looking for high-quality, vertical-market leaders successful exertion software, and the pullback represents an opportunity, the steadfast tells investors successful a probe note.
Morgan Stanley upgraded Rollins (ROL) to Overweight from Equal Weight with a terms people of $72, up from $58. The steadfast says the institution is simply a "best-in-class" relation with durable request drivers, a resilient extremity market, and structural tailwinds.

Top 5 Downgrades:

Jefferies downgraded Constellation Brands (STZ) to Hold from Buy with a terms people of $154, down from $170. In July, the steadfast believed the selloff successful shares went excessively acold with easier comps starring to amended visibility ,but Hispanic user fears are much prolonged than the steadfast had antecedently thought, which volition measurement connected top-line results careless of the spot of the brands, the steadfast tells investors successful a probe note.
JPMorgan downgraded CyberArk (CYBR) to Neutral from Overweight with a terms people of $474, up from $443, aft reinstating sum of the name. The company's takeover by Palo Alto Networks (PANW) is expected to adjacent successful archetypal fractional of 2026, the steadfast tells investors successful a probe note.
JPMorgan downgraded Fortinet (FTNT) to Underweight from Neutral with a terms people of $75, down from $85. The institution is facing headwinds arsenic level consolidation trends proceed into 2026, the steadfast tells investors successful a probe note.
Jefferies downgraded Keurig Dr Pepper (KDP) to Hold from Buy with a $32 terms target. The steadfast further cites a dense indebtedness load, java terms volatility, and caller financing operation successful its downgrade.
Barclays downgraded MGM Resorts (MGM) to Equal Weight from Overweight with a terms people of $38, down from $42. The steadfast is affirmative connected integer gaming, cruise and determination gaming, neutral connected lodging, and antagonistic connected Las Vegas heading into adjacent year. Barclays besides downgraded Bally's (BALY) to Equal Weight from Overweight.