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:

• BofA analyst Jason Haas upgraded Ollie's Bargain Outlet (OLLI) to Buy from Underperform with a price target of $75, up from $30. The analyst cites industry research suggesting that the sourcing environment has "meaningfully improved" over the past several months as retailers over-order due to supply chain delays and given the sharp decline in consumer spending on durable goods.
• Baird analyst David George upgraded Comerica (CMA) to Outperform from Neutral with an unchanged price target of $85. The bank selloff is "starting to create opportunities," George tells investors in a research note.
• Guggenheim analyst Michael Schmidt upgraded Mirati Therapeutics (MRTX) to Buy from Neutral with a $115 price target since he believes lead product candidate adagrasib has maintained a "highly competitive profile" in KRAS G12C-positive cancers with data now available across several tumor types.
• Exane BNP Paribas analyst Yves Bromehead upgraded Trex Company (TREX) to Neutral from Underperform with a $75 price target.
• Societe Generale analyst Manish Beria upgraded Rockwool (RKWBF) to Hold from Sell with a DKK 2,000 price target. Pricing lagged behind cost inflation in Q1, but management expects strong pricing momentum to continue and volumes were solid in Q1, said Beria, who thinks the stock's valuation is now "reasonable."
  
  

Top 5 Downgrades:

• Craig-Hallum analyst Jeremy Hamblin downgraded Citi Trends (CTRN) to Hold from Buy with a price target of $34, down from $80, ahead of May 24's Q1 results. Inflationary pressures are hurting the core Citi Trends customer in an outsized manner and these pressures are unlikely to abate for the remainder of 2022 with guidance likely to fall, Hamblin tells investors in a research note.
• Morgan Stanley analyst Elizabeth Porter downgraded Wix.com (WIX) to Equal Weight from Overweight with an unchanged price target of $85. The analyst views the company as a "show-me" story with a lack of near-term catalysts.
• Telsey Advisory analyst Dana Telsey downgraded Ross Stores (ROST) to Market Perform from Outperform with a price target of $80, down from $145. The analyst cites execution missteps and macro headwinds for the downgrade.
• Atlantic Equities analyst Edward Lewis downgraded Freshpet (FRPT) to Neutral from Overweight with a price target of $70, down from $130. The analyst believes the company has "ample capital" to fund its revised plan following the $350M equity offering but questions the need for it "to go so bold at this time."
• Gordon Haskett analyst Chuck Grom downgraded Dollar General (DG) to Hold from Buy with a $210 price target. His more guarded posture on the stock over the next couple of quarters is "in no way shape or form a reflection on the management team or business model," both of which he admires "greatly," but lateral reads so far in Q1 earnings season, the firm's survey work on the lower-income customer, and proprietary footfall data provide enough evidence to lower his 2022 and 2023 EPS estimates and pivot positioning, Grom tells investors.
  

Top 5 Initiations:

• JPMorgan analyst Tien-tsin Huang initiated coverage of Bill.com (BILL) with an Overweight rating and $140 price target. The company has built a platform to solve the "age-old problem" small and medium-size businesses have in paying bills, and has established itself as the category leader, Huang tells investors in a research note.
• Oppenheimer analyst Kristen Owen initiated coverage of Bentley Systems (BSY) with an Outperform rating and $40 price target. The company's vertical SaaS suite spans the entire infrastructure project- and asset-lifecycle, offering a cross-functional digital thread through the design, build, operate, and maintain stages, the analyst tells investors in a research note.
• Credit Suisse analyst John Roberts assumed coverage of Dow Inc. (DOW) with a Neutral rating and price target of $67, up from $50. The company's earnings are "abnormally high for early in an economic recovery," benefiting from both higher oil prices and supply chain constraints, Roberts tells investors in a research note.
• BofA analyst Alex Stranahan initiated coverage of Turning Point Therapeutics (TPTX) with a Buy rating and $58 price target. The company's lead candidate repotrectinib has the potential to replace the standard-of-care as the only available treatment to address steric hindrance mutations, the analyst tells investors in a research note.
• Cowen analyst Harrison Vivas initiated coverage of Leafly (LFLY) with an Outperform rating and $12 price target. He said Leafly is a three-sided marketplace focused primarily on cannabis e-commerce. He noted the company delivers nearly double the return on ad spend to its retail accounts versus peers, driving better account growth.