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:

Macquarie analyst Paul Golding upgraded Live Nation (LYV) to Outperform from Neutral with a price target of $105, down from $117, following a roughly 35% decline in shares from their peak.
Citi analyst Simon Hales upgraded AB InBev (BUD) to Buy from Neutral with a EUR 62 price target. "For the first time in a while it is tough to construct a bear-case on" the company, Hales told investors in a research note.
Loop Capital analyst Laura Champine upgraded Crocs (CROX) to Buy from Hold with a $75 price target.
Wells Fargo analyst Michael Blum upgraded Excelerate Energy (EE) to Overweight from Equal Weight with a $29 price target following a period of technical selling pressure on the stock.
Truist analyst Neal Dingmann upgraded Antero Resources (AR) to Buy from Hold with a price target of $50, up from $42. The recent selloff in the shares is overdone and provides an attractive entry point, Dingmann told investors in a research note.

Top 5 Downgrades:

Vertical Group downgraded Disney (DIS) to Mixed from Positive, citing concerns about a spending slowdown for national TV advertising. The firm also downgraded Comcast (CMCSA) and Paramount (PARA) to Mixed from Positive.
Evercore ISI analyst Amit Daryanani downgraded HP Inc. (HPQ) to In Line from Outperform with a price target of $36, down from $43, citing his view that PC market headwinds "could get more severe."
Evercore ISI analyst Vijay Kumar downgraded Novocure (NVCR) to Underperform from In Line with a $55 price target. The company's main revenue stream is GBM, where growth has slowed to a low-single to mid-single digit percentage range at a time when revenue acceleration and profitability "will matter" in the current market environment.
Evercore ISI analyst Vijay Kumar downgraded PerkinElmer (PKI) to In Line from Outperform with a $150 price target. While he had previously thought that the stock's discount to the medical technology and tools group was unwarranted, this valuation gap has closed and PerkinElmer is now trading in-line with the group.
Morgan Stanley analyst Vikram Purohit downgraded Talaris Therapeutics (TALS) to Equal Weight from Overweight with a price target of $8, down from $20, after Talaris reported the second interim Phase 3 update for FCR001 in living donor kidney transplantation, or LDKT.

Top 5 Initiations:

JMP Securities analyst Andrew Boone initiated coverage of Shopify (SHOP) with a Market Perform rating and no price target. Shopify is entering a "major investment cycle" as it offers fulfillment services to merchants, which will limit its margin expansion and free cash flow generation, Boone told investors in a research note.
Roth Capital analyst Sean McGowan initiated coverage of Monster Beverage (MNST) with a Neutral rating and $100 price target. Though Monster has been "a stellar performer over the past 20 years," the analyst believes the stock's current valuation is fair relative to the company's growth prospects.
Macquarie analyst Esme Pau initiated coverage of NetEase (NTES) with an Outperform rating and $129 price target. Pau said the resumption of game approvals in China in the second quarter should revive the growth visibility of the domestic game market in the China online game sector, which should boost the sector's growth outlook and leads her to think "re-ratings are about to begin" in the space.
Evercore ISI analyst James Ratcliffe initiated coverage of Momentus (MNTS) with an Underperform rating and $2 price target. While admitting that Momentus's Vigoride platform could fill a need in "a potentially rapidly growing satellite launch market," Ratcliffe is cautious given that the company's Vigoride spacecraft and MET thruster have not yet been successfully tested in orbit, the company will need significant additional capital by mid-2023 and the demand environment looks "promising" but "remains highly uncertain."
Berenberg analyst Nay Soe Naing initiated coverage of SAP (SAP) with a Buy rating and EUR 110 price target. The company is a "software powerhouse" that is shifting its business to cloud amid increasing demand for digital services, Soe Naing told investors in a research note.