Buy, Sell, or Hold? Thursday’s Top Upgrades and Downgrades: Advanced Micro Devices, Alibaba Group, Cleveland-Cliffs, Conoco Phillips, Diamondback Energy, General Mills, NVIDIA, Toyota, Wendy’s and More Lee Jackson Thu, November 12, 2026 at 8:07 AM EST 5 min read ^IXIC +1.60% NVDA -9.01% CLF -0.69% COP +0.21% FANG +1.11% 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.
Bernstein and Oppenheimer both downgraded NVIDIA to Market Perform as reports swirl that the board may oust CEO Jensen Huang, dragging Nasdaq futures lower.
CrowdWeave surged 24% on a strong earnings beat, lifting the Nasdaq 2% and easing fears of an AI infrastructure slowdown.
Barclays upgraded Cleveland-Cliffs and Reliance Steel, while Bernstein cut Conoco Phillips and Diamondback Energy, splitting Wall Street's view of steel and oil.
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Futures are trading mixed after a strong Wednesday bounce-back in the AI and data center trade, as CrowdWeave (NASDAQ: CRWV) beat Q3 2026 expectations and raised its full-year revenue and operating income forecasts. Following the earnings report, shares surged 24% yesterday, easing investor concerns over an AI infrastructure slowdown and high borrowing costs. Stocks took off at the open, and all major indices closed higher, though they closed off the day's highs. As expected, the technology-heavy Nasdaq led the day, closing at 25,468, up 1.60%, while the S&P 500 also had a strong session, finishing at 7,619, up 1.30%. The small-cap Russell 2000 closed at 2,846, up 0.88%, while the legacy Dow Jones Industrial Average was last seen at 52,486, up 0.49%.
The big news for investors is that the highly anticipated Anthropic IPO is accepting orders for next week and is reportedly extremely oversubscribed. Anthropic's IPO (ticker: ANT) is expected to begin trading on Thursday, November 19, 2026. Check with your broker to see if they are in the deal so you can indicate your interest in shares. The other big story today is the potential for NVIDIA (NASDAQ: NVDA) to oust President, CEO, and Co-Founder Jensen Huang for his alleged affair with a Chinese Spy. That is helping to drag the Nasdaq futures lower this morning.
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24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. Important reminder: No single analyst report should ever be the sole basis for buying or selling a stock.
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations from Thursday, November 12, 2026.
Advanced Micro Devices (NASDAQ: AMD) was raised to Outperform from Market Perform at William Blair, without a target price.
Alibaba Group (NYSE: BABA) was upgraded to Buy from Hold at DZ Bank, with a $140 target price.
Cleveland-Cliffs (NYSE: CLF) was upgraded to Equal Weight from Underweight at Barclays, which nudged the target price for the stock to $23 from $21.
Reliance Steel & Aluminum (NYSE: RS) was raised to Overweight from Equal Weight at Barclays, which lifted the target price for the shares to $507 from $445.
Wendy's (NYSE: WEN) was upgraded to Neutral from Sell at Northcoast, without a price target.
Conoco Phillips (NYSE: COP) was downgraded to Market Perform from Outperform at Bernstein, which trimmed the price target for the stock to $122 from $129.
Diamondback Energy (NASDAQ: FANG) was cut to Market Perform from Outperform at Bernstein, which lowered the target price to $192 from $221.
General Mills (NYSE: GIS) was downgraded to Neutral from Overweight at Piper Sandler, which lowered the target price to $43 from $41. The company cited dividend risk.
NVIDIA (NASDAQ: NVDA) was downgraded to Market Perform from Outperform at Bernstein with a $200 target, with the analyst saying "we've had enough". At the same time, Oppenheimer cut the rating to Market Perform from Outperform without a target price.
Toyota (NYSE: TM) was downgraded to Hold from Buy at Freedom Broker, with an unchanged $230 target price.
Agility Robotics (NASDAQ: AGLT) was initated with a Neutral rating at JPMorgan, which has an $11 target price.
Cars.com (NASDAQ: CARS) was started with an Equal Weight rating at Barclays, which has a $14 target price.
Dorman Products (NASDAQ: DORM) was initiated with an Overweight rating at Barclays, with a $165 target price objective.
Kimball Electronics (NYSE: KE) was initiated with a Buy rating at Roth Capital, with a $37 target price.
Quantinuum (NYSE: QNT) was staeted with a Buy rating at BTIG, which has set a $60 target price for the shares.
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