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:

• Rosenblatt analyst Blair Abernethy upgraded Snowflake (SNOW) to Buy from Neutral with a price target of $255, down from $325, ahead of the company's fiscal first quarter results on May 25. The analyst expects Snowflake to meet or marginally exceed his Q1 product revenue growth estimate of 81% year-over-year given ongoing enterprise digital transformation momentum.
• Morgan Stanley analyst James Faucette upgraded Marqeta (MQ) to Overweight from Equal Weight with an unchanged price target of $15. The company's "diversified set of vertical exposures, competitive moat, and stable unit economics" have him incrementally bullish on the platform's long-term trajectory.
• Barclays analyst Julian Mitchell upgraded Otis Worldwide (OTIS) to Overweight from Equal Weight with a price target of $82, up from $80. The analyst is shifting preferences in the multi-industry sector and says Otis screens among the most attractive in a recession scenario.
• Bank of America analyst Julien Dumoulin-Smith upgraded Northwest Natural Gas (NWN) to Neutral from Underperform with a price target of $53, up from $51, following the company's first quarter update and his meeting at the American Gas Association conference. Shares are now trading in-line to a slight premium to gas peers, which is a better reflection of the value of the business' lower growth rate and regulatory risks, while there is potential upside driven by further expansion into unregulated RNG and water, Dumoulin-Smith told investors.
• Susquehanna analyst Christopher Rolland upgraded Lattice Semiconductor (LSCC) to Positive from Neutral with a $65 price target.

Top 5 Downgrades:

• Atlantic Equities analyst Kunaal Malde downgraded Roblox (RBLX) to Neutral from Overweight with a price target of $30, down from $60. Weakening app download trends suggest engagement could continue to soften in core markets in the near-term, Malde told investors in a research note.
• Barclays analyst Julian Mitchell downgraded Eaton (ETN) to Underweight from Equal Weight with a price target of $120, down from $145. The analyst is shifting preferences in the multi-industry sector and says Eaton screens among the least attractive in a recession.
• KeyBanc analyst Michael Turits downgraded WalkMe (WKME) to Sector Weight from Overweight following a modest first quarter revenue beat, but an ARR miss, decline in quarterly enterprise DBNRR, slowing RPO growth, and -3% second quarter revenue guide miss on slipped large deals in Q1.
• B. Riley analyst Mayank Mamtani downgraded INmune Bio (INMB) to Neutral from Buy with a price target of $7, down from $14, after the company's Phase 2 Alzheimer's trial was placed on clinical hold.
• Craig-Hallum analyst Steven Dyer downgraded Nautilus (NLS) to Hold from Buy with a price target of $2, down from $9, as near-term demand appears quite challenged.

Top 5 Coverage Initiations:

• Cantor Fitzgerald analyst Brett Knoblauch initiated coverage of Similarweb (SMWB) with an Overweight rating and $17 price targetThe analyst believes the company is well positioned to benefit from secular tailwinds and his research suggests its product is increasingly resonating with customers.
• Guggenheim analyst Seamus Fernandez initiated coverage of HilleVax (HLVX) with a Buy rating and $40 price target. Lead candidate HIL-214 is in a Phase 2b trial for the prevention of norovirus-related illness in infants and he views HIL-214 as "a de-risked mid-stage biotech asset where data to date support robust immunogenicity in infants and adults with the potential for clinically significant vaccine efficacy." SVB Leerink, Stifel, and JPMorgan also started coverage of the stock with Buy-equivalent ratings.
• Cantor Fitzgerald analyst Louise Chen initiated coverage of Lyra Therapeutics (LYRA) with an Overweight rating and $15 price target. The analyst believes the peak sales potential of Lyra's product pipeline is underappreciated, and expects upward earnings estimate revisions to potentially move the stock higher.
• Lake Street analyst Ryan Meyers initiated coverage of Winc (WBEV) with a Buy rating and $6 price target. The company, which operates both a direct-to-consumer and wholesale wine business and uses the former to supplement the latter, is in the early stages of a multi-year growth opportunity, Meyers told investors.
• Danske Bank analyst Caroline Baner initiated coverage of AstraZeneca (AZN) with a Buy rating and 13,100 GBp price target. The analyst sees "durable" growth drivers and visibility through 2030.