Nvidia downgraded, Mercury Systems upgraded: Wall Street's top analyst calls The Fly Wed, November 11, 2026 at 9:45 AM EST 4 min read MRCY +4.22% NVDA +2.39% LQDA +6.30% RSG -0.05% RIOT +1.19% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.Top 5 Upgrades:
JPMorgan upgraded Mercury Systems (MRCY) to Overweight from Neutral with a price target of $102, down from $110. The firm views the Q3 report as a "proof point" for Mercury, saying the company delivered on its adjusted EBITDA margin target.
JPMorgan upgraded Republic Services (RSG) to Overweight from Neutral with a price target of $295, up from $265. The firm expects "solid" waste volume growth to inflect to positive in 2027 after three years of negative growth.
Raymond James upgraded Liquidia (LQDA) to Strong Buy from Outperform with a price target of $77, up from $53. Liquidia's Yutrepia launch continues to exceed expectations, with strong PAH demand, accelerating shipments, robust referral conversion and a growing prescriber base, while the United Therapeutics (UTHR) settlement substantially removes the legal overhang and leaves significant single indication growth opportunity, the firm tells investors in a research note.
Piper Sandler upgraded Alpha Tau (DRTS) to Overweight from Neutral with a $22 price target. The firm view Alpha DaRT as a differentiated technology with potential across multiple solid tumors, adding that the next 12 months are "an important catalyst period."
Ladenburg upgraded Gladstone Investment (GAIN) to Buy from Neutral with a $17 price target after the company reported fiscal Q2 adjusted net investment income below the firm's estimate and the 24c per share base dividend. Despite the EPS miss, and difficult quarter-over-quarter comps, the firm thought Q2 was "overall a good quarter."
Baird downgraded Nvidia (NVDA) to Neutral from Outperform with a price target of $200, down from $500. 2027 data center forecasts are being delayed due to very recent lack of visibility, with supply issues mostly the reason for a potential slowdown, but also due to potential demand softening as AI hyperscaler capex growth could slow to 40% or slightly less for 2027, the firm tells investors.
Keefe Bruyette downgraded Riot Platforms (RIOT) to Market Perform from Outperform with a price target of $23, up from $20. Riot's near-term story now shifts toward financing and delivery, where visibility is more limited, the firm tells investors in a research note.
Bernstein downgraded Toast (TOST) to Market Perform from Outperform with a price target of $38, down from $45. The firm says that one of its biggest thesis points behind its February upgrade - Toast being an AI winner, not a loser - has already played out, and Bernstein is incrementally watching competition and cost of growth.
Evercore ISI downgraded Akamai (AKAM) to In Line from Outperform with a price target of $90, down from $150. With financing concerns adding to "an already complex CIS investment cycle," the firm sees shares remaining range-bound until Q3 or Q4 of 2027, when operating margins should begin to stabilize, Anthropic (ANT) revenues ramp, and the path to positive free cash flow becomes clearer.
Morgan Stanley downgraded Halozyme (HALO) to Equal Weight from Overweight with a price target of $109, up from $105, citing valuation. Halozyme remains "one of the highest-quality royalty compounders" the analyst covers, but the next leg of value creation rests on Halozyme extending growth beyond royalty-rate step-downs, a new ADC opportunity and the next wave of Enhanze launches, says the firm.
Jefferies initiated coverage of Zebra Technologies (ZBRA) with a Buy rating and $382 price target. The stock is down about 10% since Q3 as the market extrapolates memory-driven margin pressure beyond the 21.6% adjusted EBITDA margin, but the firm sees about 22% as "defensible" and models about 8% topline growth in FY27.
Jefferies initiated coverage of Littelfuse (LFUS) with a Buy rating and $471 price target. Littelfuse has historically been viewed as a circuit protection supplier levered to cyclical industrial and transportation markets, but management is repositioning the portfolio toward high growth opportunities, the firm noted.
Jefferies initiated coverage of Teradyne (TER) with a Buy rating and $284 price target. Teradyne has shifted from a mobile-led tester into an AI compute play, the firm tells investors.
Jefferies initiated coverage of Sensata (ST) with a Hold rating and $40 price target. Sensata is redeploying Auto/EV sensing and electrical-protection tech into data centers and aerospace, defense, and commercial equipment, but the firm estimates auto still will make up about 51% of revenue in FY28, versus about 55% today. Jefferies also started coverage of ServiceTitan (TTAN) and Guidewire (GWRE) with Hold ratings.
JPMorgan resumed coverage of Vertiv (VRT) with a Neutral rating and $240 price target. The firm is not "brimming with enthusiasm" on the electrical equipment and multi-industry sector, but does expect a bounce in the AI-linked stocks given the magnitude and longevity of the recent selloff. JPMorgan also resumed coverage of Johnson Controls (JCI) and Eaton (ETN) with Neutral ratings.
