Sirius XM upgraded, Toast downgraded: Wall Street's top analyst calls
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Sirius XM upgraded, Toast downgraded: Wall Street's top analyst calls The Fly Wed, September 2, 2026 at 9:54 AM EDT 4 min read EYPT QURE DKNG XYZ AMRZ 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: Deutsche Bank upgraded Sirius XM (SIRI) to Buy from Hold with a price target of $45, up from $31. The shares are "mispriced" given the "large disconnect" between consensus estimates and what Sirius can achieve in 2027 and 2028, the firm tells investors in a research note. William Blair upgraded GitLab (GTLB) to Market Perform from Underperform without a price target. The company reported solid Q2 results with broad-based improvement in its operating trajectory, the firm says. Wells Fargo upgraded Matador (MTDR) to Overweight from Equal Weight with a price target of $77, down from $79, following a transfer in analyst coverage. While the company's deals have weighed on shares, Wells believes it has created an attractive entry point with shares. JPMorgan upgraded Martin Marietta (MLM) to Overweight from Neutral with an unchanged price target of $680. The firm sees positive catalysts ahead as the company executes on expected cost synergies post the acquisition of Lhoist North America. UBS upgraded InterContinental (IHG) to Buy from Neutral with a price target of $188, up from $157.65. The firm believes the company can continue to post "strong" earnings growth. BNP Paribas downgraded Toast (TOST) to Neutral from Outperform with a price target of $35, down from $38. The company's "beat and raise" quarters are coming to an end, the firm tells investors in a research note. JPMorgan downgraded Nio (NIO) to Neutral from Overweight with a price target of $4.50, down from $7, following the Q2 report. The slow demand Nio is seeing outweighs its sustained profitability, the firm contends. BofA downgraded Amrize (AMRZ) to Underperform from Neutral with a price target of $40, down from $50. The firm cut the company's estimates citing its slower growth outlook. JPMorgan also downgraded Amrize but to Neutral from Overweight with a price target of $52, down from $57. JPMorgan downgraded Knife River (KNF) to Underweight from Neutral with a price target of $73, down from $80. The firm sees limited growth from the company's largest market, Oregon, as it does not expect a meaningful change in the state's public funding environment over the near- to medium-term. In addition, increased competition has been driving lower bid margins, particularly within asphalt. TD Cowen downgraded EyePoint (EYPT) to Hold from Buy with a price target of $4, down from $20. The company's first Phase III wet age-related macular degeneration study failed, the firm tells investors in a research note. Scotiabank initiated coverage of Block (XYZ) with a Sector Perform rating and $82 price target. Q2 reinforced improving execution, a structurally lower cost base, and "one of the more differentiated consumer and seller ecosystems in fintech," but lending is contributing more heavily to that growth, which is increasing the importance of credit performance as originations scale, the firm tells investors. Scotiabank also started coverage of Klarna (KLAR) with a Sector Perform rating. Scotiabank initiated coverage of Affirm (AFRM) with an Outperform rating and $95 price target. The market still values Affirm like a cyclical, funding-sensitive fintech lender, but the company is proving it can scale like a capital-light payments network with gross merchandise value "compounding at scale," the firm tells investors. Scotiabank also started coverage of Chime (CHYM) with an Outperform rating. Wolfe Research initiated coverage of DraftKings (DKNG) with an Outperform rating and $40 price target. The firm launched coverage of 11 gaming and lodging stocks spanning land-based gaming, online gaming, and the lodging c-corps. Wolfe Research also started coverage of Flutter Entertainment (FLUT) with an Outperform rating and $150 price target. Cantor Fitzgerald initiated coverage of Tempus AI (TEM) with an Overweight rating and $80 price target, implying 28% upside in the firm's Base Case and 59% in the Bull Case. Cantor believes the risk/reward skews heavily to the upside. William Blair resumed coverage of uniQure (QURE) with an Outperform rating and $73 fair value estimate. The firm sees a "clearer pathway" to FDA approval for AMT-130 in Huntington's disease.
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