Investment Bank Ratings & Recommendations
Report Date: 2026-02-12
⚡ Key Takeaways
📈 Notable Upgrades 5 calls
INTC
Intel Corporation
↑ Upgrade
Bank of America • Vivek Arya 📅 2026-02-11
Underperform → Buy
Old PT 45.00
New PT 58.00
Current 48.29
20.1%
Foundry services gaining traction with major hyperscale wins; 18A node progress ahead of schedule
XLE
Energy Select Sector SPDR Fund
↑ Upgrade
JPMorgan • Christyan Malek 📅 2026-02-10
Neutral → Overweight
Old PT 52.00
New PT 62.00
Current 54.98
12.8%
Energy supercycle entering next phase; inventory draws accelerating globally
XLP
Consumer Staples Select Sector SPDR Fund
↑ Upgrade
Goldman Sachs • Jason English 📅 2026-02-09
Neutral → Buy
Old PT 85.00
New PT 95.00
Current 88.40
7.5%
Defensive rotation accelerating as growth concerns mount; margin expansion cycle intact
AAPL
Apple Inc.
↑ Upgrade
Wedbush • Daniel Ives 📅 2026-02-08
Neutral → Outperform
Old PT 280.00
New PT 320.00
Current 275.50
16.2%
AI iPhone supercycle gaining momentum; China demand stabilizing after year-long decline
XLU
Utilities Select Sector SPDR Fund
↑ Upgrade
Morgan Stanley • David Arcaro 📅 2026-02-12
Equal Weight → Overweight
Old PT 43.00
New PT 50.00
Current 44.59
12.1%
AI datacenter power demand creating structural growth opportunity; rate cut cycle beneficial
📉 Notable Downgrades 5 calls
CRM
Salesforce, Inc.
↓ Downgrade
Stifel • Brad Reback 📅 2026-02-11
Buy → Hold
Old PT 220.00
New PT 190.00
Current 185.00
-2.7%
Enterprise spending deceleration more pronounced than expected; AI productivity gains reducing seat expansion
MSFT
Microsoft Corporation
↓ Downgrade
UBS • Karl Keirstead 📅 2026-02-10
Buy → Neutral
Old PT 470.00
New PT 420.00
Current 404.37
-3.8%
Azure growth showing signs of maturation; OpenAI partnership economics under pressure
NFLX
Netflix, Inc.
↓ Downgrade
Needham • Laura Martin 📅 2026-02-09
Buy → Hold
Old PT 95.00
New PT 82.00
Current 79.63
-3.0%
Streaming saturation in core markets; content cost inflation outpacing pricing power
XLF
Financial Select Sector SPDR Fund
↓ Downgrade
Barclays • Jason Goldberg 📅 2026-02-12
Overweight → Equal Weight
Old PT 58.00
New PT 52.00
Current 52.74
1.4%
Credit cycle turning negative; rate cuts reducing NII tailwinds sooner than expected
ADBE
Adobe Inc.
↓ Downgrade
Jefferies • Brent Thill 📅 2026-02-08
Buy → Hold
Old PT 300.00
New PT 265.00
Current 257.16
-3.1%
Generative AI disrupting creative workflows faster than company can adapt product suite
⚖️ Sector Weight Changes 5 changes
Goldman Sachs 📅 2026-02-10
Technology
↓ DOWNGRADED
Overweight → Neutral
Valuation reset needed as AI capex cycle matures; earnings growth expectations too optimistic
Top Picks
NVDAAAPLMSFT
Avoid
CRM
Morgan Stanley 📅 2026-02-11
Energy
↑ UPGRADED
Underweight → Overweight
Structural supply constraints emerging; geopolitical risk premium increasing
Top Picks
XOMCVXCOP
Avoid
SLB
JPMorgan 📅 2026-02-09
Financials
↓ DOWNGRADED
Overweight → Neutral
Credit normalization accelerating; rate cut cycle reducing NII tailwinds
Top Picks
JPMBACWFC
Avoid
KRE
Bank of America 📅 2026-02-12
Utilities
↑ UPGRADED
Underweight → Overweight
AI datacenter power demand creating multi-year growth opportunity
Top Picks
NEESOD
Avoid
EXC
Citi 📅 2026-02-08
Consumer Staples
↑ UPGRADED
Underweight → Neutral
Defensive rotation accelerating as growth concerns mount
Top Picks
PGKOPEP
Avoid
COST
🎯 Thematic Calls 5 themes
AI Infrastructure Build-out 2.0
Goldman Sachs 📅 2026-02-10
BULLISH
Moving from training to inference phase creating new infrastructure demands; edge computing and networking beneficiaries
Beneficiaries
NVDAAVGOANET
At Risk
Legacy hardware companies
Timeframe: 24-36 months | Conviction: HIGH
Energy Security Renaissance
Morgan Stanley 📅 2026-02-11
BULLISH
Geopolitical tensions forcing energy independence; domestic production and storage critical
Beneficiaries
XLEXOMLNG
At Risk
Renewable pure-plays without storage
Timeframe: 18-24 months | Conviction: HIGH
Datacenter Power Crunch
JPMorgan 📅 2026-02-09
BULLISH
AI computing demands outstripping grid capacity; utilities and power infrastructure beneficiaries
Beneficiaries
XLUNEEETR
At Risk
Traditional tech without power efficiency
Timeframe: 12-18 months | Conviction: MEDIUM
Consumer Resilience Peak
Bank of America 📅 2026-02-08
BEARISH
Multiple consumer stress indicators flashing yellow; discretionary spending vulnerable
Beneficiaries
XLPWMTDollar stores
At Risk
XLYLuxury discretionary
Timeframe: 6-12 months | Conviction: MEDIUM
Autonomous Vehicle Inflection
Deutsche Bank 📅 2026-02-07
BULLISH
Regulatory approvals accelerating; hardware and software stack maturation enabling deployment
Beneficiaries
TSLANVDAMBLY
At Risk
Traditional auto without AV capability
Timeframe: 24-36 months | Conviction: HIGH
🌍 Market Allocation
No allocation data
💡 Actionable Ideas 0 ideas
No actionable ideas