Institutional investors and professional traders rely on The Fly to learn which companies the best analysts on Wall Street are saying to buy and sell.

Research analysts at Wall Street's largest banks issue recommendations on whether a stock should be bought, held, or sold. The Fly's team of financial market experts scours hundreds of research notes daily to uncover the best trading ideas. Check out today's top analyst calls from around Wall Street, compiled by The Fly.

Top 5 Upgrades:

• Stifel analyst Mark Kelley upgraded Twitter (TWTR) to Hold from Sell with a price target of $54.20, up from $39, after the company entered into a definitive deal to be acquired by Elon Musk at a price of $54.20 per share in cash.
• Susquehanna analyst Bascome Majors upgraded J.B. Hunt (JBHT) to Positive from Neutral with a price target of $217, up from $210. The analyst upgrade reflects his rising conviction it can deliver double-digit later-cycle earnings growth, considerable capacity to grow intermodal on BNSF in 2023, and the stock's valuation following the early-April selloff.
• Piper Sandler analyst Stephen Scouten upgraded Capital City Bank (CCBG) to Overweight from Neutral with a price target of $31.50, up from $29. The company has "pristine asset quality and a nice run-way to faster loan growth in some of the best geographies in the country," Scouten told investors in a research note.
• Susquehanna analyst Bascome Majors upgraded Hub Group (HUBG) to Positive from Neutral with a price target of $83, down from $92. His upgrade is based on its attractive valuation on his very conservative 2023 earnings forecast, with the shares down 23% since his early March downgrade to Neutral.
• Susquehanna analyst Bascome Majors upgraded Werner (WERN) to Positive from Neutral with a price target of $46, down from $49. His upgrade is based on valuation, which he now believes looks attractive in his late-cycle risk/reward framework for asset-based TLs.

Top 5 Downgrades:

• Piper Sandler analyst Thomas Champion double downgraded Redfin (RDFN) to Underweight from Overweight with a price target of $11, down from $40. The analyst has a "subdued outlook" for housing and says his model updates suggest flat to negative real estate services growth for Redfin in 2022 and 2023 versus the Street's expectations of 9% growth in 2022 and 16% in 2023.
• Raymond James analyst David Long downgraded Zions Bancorp (ZION) to Market Perform from Strong Buy without a price target following the first quarter results. The analyst says that with stock-picking becoming increasingly important among the banks, he does not see a specific positive catalyst that would drive Zions shares to outperform.
• OTR Global downgraded its view of Under Armour (UAA) to Mixed from Positive based on its checks.
• Stifel analyst Benjamin Nolan downgraded NextDecade (NEXT) to Sell from Hold with a price target of $4, up from $2. The shares have rallied more than is warranted, Nolan argued.
• Odeon Capital analyst Dick Bove downgraded KeyCorp (KEY) to Hold from Buy with a $21.50 price target.

Top 5 Coverage Initiations:

• UBS analyst Taylor McGinnis initiated coverage of HubSpot (HUBS) with a Neutral rating and $410 price target. The analyst is positive on the company's "diverse set of growth drivers," mid-market competitive positioning, and above-average profitability, but her "main reservation" relates to its ability to sustain new logo growth as checks acknowledged pandemic-related tailwinds existed over the last two years.
• Citi analyst Anthony Nemoto initiated coverage of Frontier Communications (FYBR) with a Buy rating and $36 price target. The analyst likes the opportunities for Frontier to grow its revenue and expand margins as the company executes on upgrading its copper infrastructure and more than double its fiber footprint from 4M locations today to 10M by 2025
• UBS analyst Brennan Hawken initiated coverage of Victory Capital (VCTR) with a Neutral rating and $30 price target. The company's assets under management growth have been stronger than multi-affiliate peers, with greater operating leverage, but the fund performance has been mixed and organic growth remains relatively weak, the analyst told investors in a research note.
• EF Hutton analyst Edward Reilly initiated coverage of Sinclair Broadcast (SBGI) with a Buy rating and $41 price target. He believes the market is valuing Sinclair as a traditional television broadcaster, but he sees a "diamond in the rough" that has several valuable assets the market is not giving it credit for, including its future direct-to-consumer business, the Tennis Channel, the Compulse 360 SaaS platform and its investment portfolio.
• DA Davidson analyst Brandon Rolle initiated coverage of Brunswick (BC) with a Buy rating and $96 price target. The company is well-positioned to benefit from the influx of new buyers entering the boat industry over the last 2 years with a strong presence in every segment of the industry, the analyst told investors in a research note.