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:

• Raymond James analyst Patrick O'Shaughnessy upgraded CBRE Group (CBRE) to Strong Buy from Outperform with a price target of $110, down from $122. The analyst believes the company has the "most resilient business model and most under-levered balance sheet" of the group.
• New Street analyst Jonathan Chaplin upgraded Altice USA (ATUS) to Buy from Neutral with a $15 price target after Bloomberg reported that the company is considering a sale of its Suddenlink asset for as much as $20B. The deal is "reasonably likely" and the probability weighted upside in the shares is compelling enough to upgrade the stock, Chaplin tells investors in a research note.
• Bernstein analyst Bruno Monteyne upgraded Unilever (UL) to Outperform from Market Perform. When commodities decline by 5% or more, the European food sector outperforms by 5%-20%, Monteyne tells investors in a research note.
• Piper Sandler analyst Mark Lear upgraded Comstock Resources (CRK) to Neutral from Underweight with a price target of $17, up from $16. The shares have been "beaten up by capital concerns," but are 20% cheaper than prior to the Q1 earnings when natural gas was also $8, Lear tells investors in a research note.
• JPMorgan analyst Daniel Kerven upgraded Publicis (PUBGY) to Overweight from Neutral with a price target of EUR 70, up from EUR 63.
  
  

Top 5 Downgrades:

• Goldman Sachs analyst Eric Sheridan downgraded Snap (SNAP) to Neutral from Buy with a price target of $12, down from $25. The company's Q2 earnings report was "broadly negative" with a mixture of a revenue miss, disclosure of Q3 quarter-to-date revenue flat year-over-year despite easier compares, and a "host of factors cited," including the macro environment, competition for ad budgets and a need to re-position Snap's business for future platform changes, Sheridan tells investors. Meanwhile, JPMorgan analyst Doug Anmuth double downgraded Snap to Underweight from Overweight with a price target of $9, down from $24. Snap was also downgraded at Stifel, Evercore ISI, Deutsche Bank, Rosenblatt, Oppenheimer, Guggenheim and Truist.
• Barclays analyst Kannan Venkateshwar downgraded AT&T (T) to Equal Weight from Overweight with a price target of $20, down from $22. AT&T's Q2 results, while being impacted to some extent by the macro backdrop, are likely to renew concerns about management credibility, Venkateshwar tells investors in a research note.
  
• Summit Insights analyst Kinngai Chan downgraded Seagate (STX) to Hold from Buy. The analyst states that while he continues to expect the demand profile in cloud storage to remain "somewhat robust" through the second half of this year, he also sees a possible risk of cloud storage Capex moderating into the first half of 2023.
• Morgan Stanley analyst Joseph Moore downgraded Micron Technology (MU) to Underweight from Equal Weight with an unchanged price target of $56. The analyst takes issue with the recent sentiment that Micron's weaker guidance "clears the decks" and makes the stock set up for better outcomes.
• Credit Suisse analyst Timothy Chiodo downgraded Repay Holdings (RPAY) to Neutral from Outperform with a price target of $15, down from $20. While the analyst remains bullish on Repay's longer-term prospects and its ability to both grow organically and through bolt-on accretive acquisitions, he downgraded the shares given a more balanced near-term risk/reward amidst a fiscal 2022 guidance "that lacks conservatism."
  
  

Top 5 Initiations:

• Piper Sandler analyst Edward Yruma initiated coverage of Peloton Interactive (PTON) with a Neutral rating and $12 price target. Peloton is going through a difficult transformation while near-term trends are likely to remain pressured, Yruma tells investors in a research note. Oppenheimer analyst Brian Nagel assumed coverage of Peloton with an Outperform rating with a price target of $20, up from $18. The past several quarters have "proven tumultuous" as Peloton's story has "morphed rapidly from promising tech unicorn to COVID-19 winner, to post-pandemic victim," Nagel tells investors.
• Benchmark analyst Cody Acree assumed coverage of Marvell (MRVL) with a Buy rating and $70 price target. Marvell has been a transition story over the past several years and the company's primary focus is on becoming a leader in "attractive" infrastructure end markets, which now account for 88% of total revenue, said Acree.
• Ladenburg analyst Matt Kaplan initiated coverage of Liquidia Technologies (LQDA) with a Buy rating and $15 price target. Lead asset Yutrepia is a dry powder inhaler of treprostinil being developed for the treatment of Group 1 pulmonary hypertension and he believes Yutrepia has several characteristics in its favor, including portability, titratability, tolerability and durability, Kaplan tells investors.
  
• Cantor Fitzgerald analyst Charles Duncan initiated coverage of BioVie (BIVI) with an Overweight rating and $7 price target. The company's development strategy is based on research that suggests that neuroinflammation is a primary driver of disease progression, and believes NE3107 can be broadly applicable in a range of neurological disease settings, Duncan tells investors in a research note.
• Seaport Global analyst Sonny Randhawa initiated coverage of Trulieve  (TCNNF) with a Buy rating and $23 price target. The analyst believes the cannabis group is "going through a bottoming process" and will be higher six months from now and amongst the best performing sectors over the next three to five years. Investors should buy the group today and use any market induced volatility to increase exposure, Randhawa tells investors in a research note.