Investment Bank Ratings & Recommendations
Report Date: 2026-02-25
⚡ Key Takeaways
📈 Notable Upgrades 6 calls
AMD
Advanced Micro Devices
↑ Upgrade
Goldman Sachs • Toshiya Hari 📅 2026-02-25
Neutral → Buy
Old PT $185
New PT $240
Current $213.84
12.2%
AI server momentum accelerating faster than expected, MI300X ramping strongly
INTC
Intel Corporation
↑ Upgrade
Jefferies • Mark Lipacis 📅 2026-02-24
Hold → Buy
Old PT $42
New PT $52
Current $46.12
12.7%
18A node progress ahead of schedule, foundry business inflection point approaching
CRM
Salesforce
↑ Upgrade
Morgan Stanley • Keith Weiss 📅 2026-02-24
Equal Weight → Overweight
Old PT $175
New PT $210
Current $185.42
13.2%
AI agent monetization accelerating, enterprise adoption exceeding expectations
ORCL
Oracle Corporation
↑ Upgrade
UBS • Karl Keirstead 📅 2026-02-23
Neutral → Buy
Old PT $135
New PT $165
Current $146.14
12.9%
Cloud infrastructure demand surge, database modernization cycle intact
TSLA
Tesla Inc
↑ Upgrade
Deutsche Bank • Emmanuel Rosner 📅 2026-02-22
Hold → Buy
Old PT $380
New PT $450
Current $409.38
9.9%
FSD progress accelerating, robotaxi timeline becoming clearer
NFLX
Netflix Inc
↑ Upgrade
Piper Sandler • Thomas Champion 📅 2026-02-21
Neutral → Overweight
Old PT $72
New PT $88
Current $78.04
12.8%
Ad tier penetration ahead of expectations, content costs stabilizing
📉 Notable Downgrades 3 calls
META
Meta Platforms
↓ Downgrade
Bernstein • Mark Shmulik 📅 2026-02-24
Outperform → Market Perform
Old PT $720
New PT $650
Current $639.30
-1.7%
Reality Labs losses accelerating, metaverse ROI timeline extending
GOOGL
Alphabet Inc
↓ Downgrade
Wells Fargo • Ken Gawrelski 📅 2026-02-23
Overweight → Equal Weight
Old PT $340
New PT $310
Current $310.90
-0.3%
Search share pressure from AI increasing, cloud growth decelerating
ADBE
Adobe Inc
↓ Downgrade
Cowen • Derrick Wood 📅 2026-02-22
Outperform → Market Perform
Old PT $280
New PT $250
Current $255.17
-2.0%
GenAI competition intensifying, subscription model under pressure
⚖️ Sector Weight Changes 4 changes
Goldman Sachs 📅 2026-02-24
Technology
↓ DOWNGRADED
Overweight → Neutral
Valuation risk increasing as AI expectations get ahead of fundamentals
Top Picks
MSFTNVDAORCL
Avoid
META
Morgan Stanley 📅 2026-02-23
Industrials
↑ UPGRADED
Neutral → Overweight
Infrastructure spending cycle accelerating, automation demand strong
Top Picks
CATDEHON
Avoid
BA
Bank of America 📅 2026-02-22
Energy
↑ UPGRADED
Underweight → Neutral
Oil price stability improving, capital discipline maintaining returns
Top Picks
XOMCVXCOP
Avoid
SLB
JPMorgan 📅 2026-02-21
Healthcare
↓ DOWNGRADED
Overweight → Neutral
Drug pricing pressures increasing, regulatory headwinds mounting
Top Picks
UNHJNJABBV
Avoid
BIIB
🎯 Thematic Calls 3 themes
AI Infrastructure Buildout
Morgan Stanley 📅 2026-02-20
BULLISH
Multi-year capex supercycle in datacenter infrastructure, edge computing demand accelerating
Beneficiaries
NVDAAMDSMCIANET
At Risk
INTC
Timeframe: 24-36 months | Conviction: HIGH
Semiconductor Cycle Recovery
Goldman Sachs 📅 2026-02-18
BULLISH
Inventory destocking ending, PC/smartphone replacement cycle beginning
Beneficiaries
QCOMAVGOMRVL
At Risk
KLAC
Timeframe: 12-18 months | Conviction: MEDIUM
Energy Transition Acceleration
UBS 📅 2026-02-15
BULLISH
Grid modernization spending, battery storage adoption, EV infrastructure buildout
Beneficiaries
TSLAENPHFSLR
At Risk
XOM
Timeframe: 36+ months | Conviction: HIGH
🌍 Market Allocation
Overall Market View
Equities Constructive but cautious - favor quality growth over momentum
Bonds Neutral duration, favor credit over government bonds
Cash 5-10% cash position for opportunities
Regional Preferences
US Overweight
Europe Underweight
Emerging Markets Neutral
China Underweight
Japan Neutral
Style Preferences
Growth Vs Value Growth at reasonable price (GARP)
Large Vs Small Favor large cap for quality
Cyclical Vs Defensive Balanced with slight cyclical tilt
💡 Actionable Ideas 2 ideas
Pair long NVDA/AMD with short INTC for AI infrastructure play
AI beneficiaries vs legacy CPU incumbent facing share loss
Supported by: Goldman Sachs, Morgan Stanley
⚠️ Risk: Broad semiconductor selloff would hurt entire pair
Overweight industrials (XLI) vs underweight tech (XLK)
Sector rotation from growth to cyclicals as rates stabilize
Supported by: Morgan Stanley, Bank of America
⚠️ Risk: Any growth scare would favor tech over industrials