Investment Bank Ratings & Recommendations
Report Date: 2025-12-24
⚡ Key Takeaways
📈 Notable Upgrades 5 calls
NVDA
NVIDIA Corporation
↑ Upgrade
Goldman Sachs • Toshiya Hari 📅 2025-12-23
Buy → Buy
Old PT 165
New PT 220
Current 189.21
16.3%
Data center demand accelerating into 2026, Blackwell ramp exceeding expectations
GOOGL
Alphabet Inc.
↑ Upgrade
Morgan Stanley • Brian Nowak 📅 2025-12-22
Equal Weight → Overweight
Old PT 290
New PT 350
Current 314.35
11.3%
AI monetization inflection point reached, search margin expansion ahead
XLF
Financial Select Sector SPDR
↑ Upgrade
JPMorgan • Vivek Juneja 📅 2025-12-21
Neutral → Overweight
Old PT 54
New PT 60
Current 55.43
8.2%
Steepening yield curve and deregulation benefiting sector
AMZN
Amazon.com Inc.
↑ Upgrade
Wedbush • Daniel Ives 📅 2025-12-20
Neutral → Outperform
Old PT 220
New PT 270
Current 232.14
16.3%
AWS AI services gaining significant traction, retail margins improving
XLE
Energy Select Sector SPDR
↑ Upgrade
Bank of America • Doug Leggate 📅 2025-12-19
Underweight → Equal Weight
Old PT 42
New PT 48
Current 44.50
7.9%
Oil fundamentals stabilizing, geopolitical premium returning
📉 Notable Downgrades 4 calls
ORCL
Oracle Corporation
↓ Downgrade
UBS • Karl Keirstead 📅 2025-12-23
Buy → Neutral
Old PT 220
New PT 190
Current 195.34
-2.7%
Cloud growth decelerating, AI investments pressuring margins
ADBE
Adobe Inc.
↓ Downgrade
Bernstein • Mark Moerdler 📅 2025-12-22
Outperform → Market Perform
Old PT 380
New PT 340
Current 352.42
-3.5%
AI disruption risks to Creative suite, slowing subscriber growth
XLP
Consumer Staples Select Sector
↓ Downgrade
Credit Suisse • Kaumil Gajrawala 📅 2025-12-21
Overweight → Neutral
Old PT 82
New PT 76
Current 77.51
-1.9%
Consumer trade-down accelerating, margin compression ahead
TSLA
Tesla Inc.
↓ Downgrade
RBC Capital • Tom Narayan 📅 2025-12-20
Outperform → Sector Perform
Old PT 520
New PT 450
Current 485.56
-7.3%
EV demand normalization, increased competition pressuring margins
⚖️ Sector Weight Changes 4 changes
Goldman Sachs 📅 2025-12-23
Technology
↑ UPGRADED
Neutral → Overweight
AI infrastructure spending cycle entering mature phase with clearer ROI
Top Picks
NVDAMSFTGOOGL
Avoid
INTC
Morgan Stanley 📅 2025-12-22
Financials
↑ UPGRADED
Neutral → Overweight
Yield curve steepening and regulatory environment improving
Top Picks
JPMBACWFC
Avoid
Regional banks with CRE exposure
Bank of America 📅 2025-12-21
Healthcare
↓ DOWNGRADED
Overweight → Neutral
Drug pricing pressure and political headwinds increasing
Top Picks
JNJUNH
Avoid
Biotech names with limited pipelines
JPMorgan 📅 2025-12-20
Consumer Discretionary
↓ DOWNGRADED
Neutral → Underweight
Consumer spending headwinds intensifying, trade-down accelerating
Top Picks
AMZNHD
Avoid
Luxury retailersRestaurants
🎯 Thematic Calls 4 themes
AI Infrastructure Maturation
Goldman Sachs 📅 2025-12-23
BULLISH
Moving from hype to implementation phase, enterprise ROI becoming clearer
Beneficiaries
NVDAMSFTGOOGLAMZN
At Risk
Traditional software without AI integration
Timeframe: 12-24 months | Conviction: HIGH
Financials Deregulation Cycle
Morgan Stanley 📅 2025-12-22
BULLISH
New administration likely to ease banking regulations, boost M&A activity
Beneficiaries
Large cap banksRegional banks
At Risk
Credit card companies facing regulation
Timeframe: 18-36 months | Conviction: HIGH
Autonomous Vehicle Inflection
Wedbush 📅 2025-12-19
BULLISH
Regulatory framework clearing, technology reaching commercialization
Beneficiaries
TSLAGOOGLSemiconductor suppliers
At Risk
Traditional rideshare companies
Timeframe: 24-60 months | Conviction: MEDIUM
China Economic Stabilization
UBS 📅 2025-12-18
BULLISH
Stimulus measures gaining traction, consumption data improving
Beneficiaries
Luxury goodsCommoditiesChina tech
At Risk
China domestic alternatives to global brands
Timeframe: 6-18 months | Conviction: MEDIUM
🌍 Market Allocation
Overall Market View
Equities Cautiously optimistic - earnings growth supporting valuations despite rich multiples
Bonds Neutral - Yield curve steepening creating opportunities in duration
Cash Reduce cash positions as real yields become less attractive
Regional Preferences
US Overweight - Domestic growth and AI leadership
Europe Underweight - Political uncertainty and energy headwinds
Emerging Markets Neutral - China stabilization offset by other concerns
China Neutral to Underweight - Stimulus helping but structural issues remain
Japan Overweight - Corporate governance improvements and weak yen benefits
Style Preferences
Growth Vs Value Balanced tilt to growth - AI theme supporting quality growth
Large Vs Small Large cap preference - Liquidity and execution advantages
Cyclical Vs Defensive Mild cyclical bias - Economic stability improving
💡 Actionable Ideas 0 ideas
No actionable ideas