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:

UBS analyst Thomas Wadewitz upgraded Saia (SAIA) to Buy from Neutral with a price target of $240, up from $213. The company continues to have a strong multi-year growth trajectory and considering the 45% decline in the stock year-to-date, which already reflects the expectation of a significant downturn in freight and a cyclical decline in its earnings, Saia valuation looks attractive, the analyst told investors in a research note.
Raymond James analyst Jonathan Hughes upgraded CubeSmart (CUBE) to Strong Buy from Outperform with a price target of $52, down from $60. The upgrade is driven by easier comps in the second half of 2022 driving the potential for better relative performance versus peers, as well as its attractive valuation and smaller size that makes any external growth more impactful, Hughes told investors in a research note.
Morgan Stanley analyst Erik Lapinski upgraded Zebra Technologies (ZBRA) to Equal Weight from Underweight with a price target of $335, down from $400, as he assumed lead coverage of the stock from Meta Marshall. The stock's valuation has reset and it is now trading at a multiple in-line with five-year averages while more realistic growth expectations have been built in, making the risk-reward more balanced and turning the debate to Zebra's earnings trajectory, Lapinski told investors.
Truist analyst Bill Chappell upgraded TreeHouse (THS) to Buy from Hold with a price target of $50, up from $35. While TreeHouse has had numerous operating challenges over the past few years, the macro picture will offset any near-term hiccups and result in multiple expansion for the stock, the analyst contended.
Morgan Stanley analyst Erik Lapinski upgraded Motorola Solutions (MSI) to Overweight from Equal Weight with a $240 price target as he assumed lead coverage of the stock from Meta Marshall. The recent pullback in the share, and a market backdrop that makes a more defensible earnings growth story screen attractive, sets up an opportunity to step in, said Lapinski, whose analysis shows that his $300 Bull case valuation on a two-year view is "achievable."

Top 5 Downgrades:

Citi analyst Paul Lejuez downgraded Under Armour (UAA), Ralph Lauren (RL), Kohl's (KSS), Abercrombie & Fitch (ANF) and American Eagle (AEO) to Neutral from Buy, and cut Gap (GPS), Children's Place (PLCE) and Carter's (CRI) ratings to Sell from Neutral. Last week's earnings reports represented "a wake-up call for retail that showed the stars are now misaligned" for fiscal 2022, Lejuez told investors in a research note.
Deutsche Bank analyst Bhavin Shah downgraded Autodesk (ADSK) to Hold from Buy with a price target of $225, down from $275. Conversations with platinum partners indicate "mixed" first quarter results and downside to fiscal 2023 estimates from changing demand, potentially lower adoption of multi-year contracts, currency and Russia, Shah told investors in a research note.
Citi analyst Jim Suva downgraded HP Inc. (HPQ) to Neutral from Buy with a price target of $38, down from $40. The analyst expects PC demand growth to moderate in the near-term and sees limited upside for the shares.
Bank of America analyst Greg Harrison downgraded Athersys (ATHX) to Underperform from Neutral with a price target of 25c, down from $1.00, after partner Healios announced last week that the TREASURE trial of MultiStem in stroke did not reach statistical significance.
Truist analyst Youssef Squali downgraded Frontdoor (FTDR) to Hold from Buy with a price target of $29, down from $32. The transition of CEO Rex Tibbens announced last Friday comes at a crucial time and adds a layer of uncertainty to a bevy of issues the company is already facing, including inflationary pressures hurting margins, a weak real-estate segment dampening growth, and supply chain challenges, the analyst told investors in a research note.

Top 5 Coverage Initiations:

SVB Leerink analyst David Risinger initiated coverage of AbbVie (ABBV) with an Underperform rating and $140 price target. Risinger sees the stock as a crowded defensive play, and anticipates downward analyst revisions ahead for 2024-2025 EPS as AbbVie's financial picture becomes clearer.
SVB Leerink analyst David Risinger initiated coverage of Eli Lilly (LLY) with an Outperform rating and $341 price target. The analyst believes that consensus underappreciates the sales potential for Lilly's recently-approved tirzepatide for diabetes and obesity, and he expects upward estimate revisions to drive stock outperformance. Risinger also started coverage of Regeneron (REGN), Sanofi (SNY), Roivant Sciences (ROIV), Halozyme (HALO) and Theravance Biopharma (TBPH) with Outperform ratings and Pfizer (PFE), Vertex Pharmaceuticals (VRTX), Gilead (GILD), Horizon Therapeutics (HZNP), Amgen (AMGN) and Radius Health (RDUS) with Neutral ratings.
Atlantic Equities analyst Oliver Holmes initiated coverage of Wabtec (WAB) with an Overweight rating and $101 price target. The analyst believes long-term structural drivers are expected to support a doubling of freight and passenger rail activity by 2050, and thinks Wabtec is "well positioned to capitalize" on this growth.
Craig-Hallum analyst George Sutton initiated coverage of Applied Blockchain (APLD) with a Buy rating and $10 price target. The analyst believes Applied Blockchain represents an opportunity to invest in Bitcoin Network growth with fiat economics in a structure which will likely favor returning capital to shareholders in a REIT structure in the long-term.
Northland analyst Donovan Schafer initiated coverage of Array Technologies (ARRY) with an Outperform rating and $18 price target. He believes Array is well-positioned to become the "global leader in solar trackers" with the recent STI Norland acquisition. The analyst also started coverage of FTC Solar (FTCI) with an Outperform rating and $7 price target.