Check out today's top analyst calls from around Wall Street, compiled by The Fly.

ON THE SIDELINES: Deutsche Bank analyst Brian Mullan initiated coverage of Starbucks (SBUX) with a Hold rating and $127 price target. Despite the Hold rating, the analyst says the "path of least resistance is for shares to head higher over time, and perhaps even in the near future." His price target represents 8% upside from current levels.

SELL AB INBEV, UNILEVER: JPMorgan analyst Celine Pannuti downgraded AB InBev (BUD) and Unilever (UN, UL) to Underweight from Neutral with price targets of $57 and 3,850 GBp, respectively. The analyst is "cautious" on European staple stocks due to cost inflation and demand risks that could hurt earnings in fiscal 2022. Earnings visibility is deteriorating and valuations in the sector remain "elevated" despite underperformance since June, Pannuti told investors in a research note. The analyst's Underweight-rated stocks have estimates that are up to 10% below consensus.

BUY OKTA: Needham analyst Alex Henderson upgraded Okta (OKTA) to Buy from Hold with a $320 price target. The analyst stated that he is surprised that the stock moved lower after the company's second quarter results as the 39% revenue growth, 43% RPO growth, and 47% Total Calculated Billings growth represent a "solid acceleration." Henderson added that Okta shares have underperformed its high valuation/high growth peer group, and its relative multiple has contracted by over 10 turns versus some of the other security names.

RESUMPTION AHEAD OF DEAL: Deutsche Bank analyst Sidney Ho downgraded II-VI (IIVI) to Hold from Buy with a $75 price target after resuming coverage of the name. The analyst sees the merits of the Coherent (COHR) acquisition but says the deal "does not look cheap." For II-VI shares to work from the current levels, not only does it have to execute on the cost synergies target, it also needs the market to value the combined company as a broad-based "industrial technology" company that potentially supports a re-rating of the stock, Ho told investors in a research note. He expects the stock to be range-bound until the deal closes, which is currently expected in the first quarter of 2022.

CLOUD HYPER GROWTH: Craig-Hallum analyst Chad Bennett initiated coverage of Teradata (TDC) with a Buy rating and $88 price target. The analyst noted that Teradata is competing in the cloud against cloud-native competitors and winning - both retaining customers moving to the cloud and winning new logos. Further, its cloud business is in hyper-growth mode, driving overall ARR growth acceleration, Bennett contended.