Microsoft initiated, Home Depot downgraded: Wall Street's top analyst calls

Top 5 Downgrades:

• Stifel downgraded Home Depot (HD) to Hold from Buy with a terms people of $370, down from $440. The steadfast has a "cautious bias" heading into the company's Q3 report.

• Craig-Hallum downgraded Applied Materials (AMAT) to Hold from Buy with a $190 terms target. The steadfast believes investors volition get a amended buying accidental implicit the adjacent fewer quarters arsenic manufacture spending summation is aggregate quarters away.

• BofA downgraded StubHub (STUB) to Neutral from Buy with a terms people of $19, down from $25. Q3 gross and EBITDA bushed Street views, but StubHub did not usher for immoderate Q4 metrics and telephone commentary suggests little 2026 circuit timing visibility, the steadfast tells investors.

• BofA downgraded Flowserve (FLS) to Neutral from Buy with a terms people of $73, up from $60. Following a caller re-rating, the steadfast believes near-term atomic upside is priced into shares.

• Jefferies downgraded Progressive (PGR) to Hold from Buy with a terms people of $232, down from $261. The steadfast sees a lighter maturation situation up for Progressive owed to an progressively competitory idiosyncratic car security market.

Top 5 Initiations:

• Baird initiated sum of Microsoft (MSFT) with an Outperform standing and $600 terms target. The steadfast says Microsoft is "leading the AI revolution" with infrastructure and applications, driven by its concern with OpenAI, which provides an end-to-end artificial quality level for enterprises and consumers.

• Loop Capital initiated sum of Polaris (PII) with a Hold standing and $59 terms target. The steadfast has a cautious presumption connected the company's semipermanent outlook.

• Wells Fargo initiated sum of United Rentals (URI) with an Overweight standing and $995 terms target. Due to dilatory maturation backdrop, the steadfast besides prefers the operation machinery stocks implicit engineering Services owed to a favorable proviso setup successful machinery. Wells initiated 22 stocks successful the machinery, industrials and biology services radical with Cummins (CMI), Herc Holdings (HRI) and WM (WM) apical picks.

• Cantor Fitzgerald initiated sum of DiaMedica Therapeutics (DMAC) with an Overweight standing and $25 terms target. DiaMedica has begun to make precise compelling information for DM199 for attraction of pre-eclampsia, with cardinal sentiment leaders indicating a precise precocious unmet request and a precise precocious grade of enthusiasm for this product, the steadfast tells investors successful a probe note.

• Stephens initiated sum of Simpson Manufacturing (SSD) with an Equal Weight standing and $187 terms target. The steadfast expects U.S. lodging starts to stay subdued apt until astatine slightest the 2nd fractional of 2026 and portion it believes Simpson to beryllium "a unsocial and high-quality business," uncertainty astir caller residential operation going into 2026 keeps the steadfast connected the sidelines.