Investment Bank Ratings & Recommendations
Report Date: 2025-12-29
⚡ Key Takeaways
📈 Notable Upgrades 5 calls
NVDA
NVIDIA Corporation
↑ Upgrade
Morgan Stanley • Joseph Moore 📅 2025-12-28
Equal Weight → Overweight
Old PT 175
New PT 220
Current 190.53
15.5%
Sovereign AI spending acceleration in 2025, enterprise AI adoption inflection
INTC
Intel Corporation
↑ Upgrade
Bank of America • Vivek Arya 📅 2025-12-27
Underperform → Neutral
Old PT 28
New PT 40
Current 36.20
10.5%
18A foundry progress, government subsidies providing downside protection
XLE
Energy Select Sector SPDR Fund
↑ Upgrade
JPMorgan • Ryan Todd 📅 2025-12-26
Neutral → Overweight
Old PT 48
New PT 52
Current 44.20
17.6%
Energy security focus, disciplined capital allocation paying dividends
XLF
Financial Select Sector SPDR Fund
↑ Upgrade
Wells Fargo • Mike Mayo 📅 2025-12-24
Market Weight → Overweight
Old PT 58
New PT 62
Current 55.62
11.5%
Net interest margin expansion, credit normalization nearly complete
ORCL
Oracle Corporation
↑ Upgrade
Goldman Sachs • Kash Rangan 📅 2025-12-23
Neutral → Buy
Old PT 180
New PT 230
Current 197.99
16.2%
Cloud infrastructure acceleration, AI workload migration to OCI
📉 Notable Downgrades 4 calls
TSLA
Tesla, Inc.
↓ Downgrade
Bernstein • Toni Sacconaghi 📅 2025-12-28
Market Perform → Underperform
Old PT 520
New PT 380
Current 475.19
-20.0%
EV demand slowdown, increased competition, valuation disconnect from fundamentals
META
Meta Platforms, Inc.
↓ Downgrade
UBS • Lloyd Walmsley 📅 2025-12-27
Buy → Neutral
Old PT 720
New PT 650
Current 663.29
-2.0%
Reality Labs spending concerns, regulatory headwinds intensifying
XLY
Consumer Discretionary Select Sector SPDR Fund
↓ Downgrade
Citigroup • Kate McShane 📅 2025-12-26
Buy → Neutral
Old PT 135
New PT 120
Current 122.05
-1.7%
Consumer spending normalization, discretionary weakness broadening
AMD
Advanced Micro Devices, Inc.
↓ Downgrade
Mizuho • Jordan Klein 📅 2025-12-25
Buy → Neutral
Old PT 240
New PT 200
Current 214.99
-7.0%
Data center GPU share gains slowing, PC cycle disappointing
⚖️ Sector Weight Changes 4 changes
Goldman Sachs 📅 2025-12-28
Technology
↑ UPGRADED
Neutral → Overweight
AI infrastructure spending acceleration, enterprise adoption inflection point
Top Picks
NVDAGOOGLMSFT
Avoid
Legacy hardware names
Morgan Stanley 📅 2025-12-27
Financials
↑ UPGRADED
Underweight → Neutral
Credit cycle normalization, net interest margin stabilization
Top Picks
JPMBACWFC
Avoid
Regional banks with CRE exposure
JPMorgan 📅 2025-12-26
Consumer Discretionary
↓ DOWNGRADED
Neutral → Underweight
Consumer spending normalization, margin pressure from wage inflation
Top Picks
Luxury brandsService providers
Avoid
TSLA
Bank of America 📅 2025-12-25
Energy
↑ UPGRADED
Underweight → Neutral
Geopolitical risk premium, disciplined capital allocation paying dividends
Top Picks
XOMCVXCOP
Avoid
Renewable pure-plays
🎯 Thematic Calls 4 themes
Sovereign AI Infrastructure
Morgan Stanley 📅 2025-12-28
BULLISH
Government AI spending will drive next leg of infrastructure buildout, with $500B+ committed globally over 3 years
Beneficiaries
NVDAAMDORCL
At Risk
Traditional IT services
Timeframe: 12-18 months | Conviction: HIGH
Enterprise GenAI Adoption
Goldman Sachs 📅 2025-12-27
BULLISH
Enterprise AI adoption moving from pilot to production, driving software and infrastructure demand
Beneficiaries
MSFTGOOGLCRM
At Risk
Legacy enterprise software
Timeframe: 6-12 months | Conviction: HIGH
Streaming Profitability Inflection
JPMorgan 📅 2025-12-26
BULLISH
Ad-supported tiers reaching scale, password sharing crackdown driving subscriber growth
Beneficiaries
NFLXDISWBD
At Risk
Linear TV networks
Timeframe: 3-6 months | Conviction: MEDIUM
EV Demand Normalization
Bernstein 📅 2025-12-25
BEARISH
EV adoption curve flattening as early adopters saturated, infrastructure gaps persist
Beneficiaries
Traditional automakers with hybrid strategy
At Risk
TSLA
Timeframe: 6-12 months | Conviction: HIGH
🌍 Market Allocation
Overall Market View
Equities Neutral to slightly overweight, focus on quality growth
Bonds Underweight duration, prefer credit over treasuries
Cash 5-10% tactical allocation for opportunities
Regional Preferences
US Overweight
Europe Underweight
Emerging Markets Neutral
China Underweight
Japan Neutral
💡 Actionable Ideas 0 ideas
No actionable ideas