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Check out today's top analyst calls from around Wall Street:

Top 5 Upgrades:

DA Davidson upgraded Shopify (SHOP) to Buy from Neutral with an unchanged price target of $50. The firm believes the over 20% selloff post earnings has created an attractive entry point. [Read more]

Wolfe Research upgraded Merck (MRK) to Outperform from Peer Perform with a $127 price target. The company "finally has a pipeline that is big enough to matter," the firm tells investors in a research note. [Read more]

KeyBanc upgraded Nordson (NDSN) to Overweight from Sector Weight with a $255 price target. After the company's guidance cut, earnings estimates are de-risked, the firm says. [Read more]

Raymond James upgraded Masimo (MASI) to Outperform from Market Perform with an $187 price target. The firm says no other company under coverage offers as many paths to incremental value creation, and expects estimates for Masimo to trend higher, leading the stock to outperform. [Read more]

Needham upgraded BioCryst (BCRX) to Buy from Hold with a $14 price target. The firm believes the recent selloff provides an "attractive entry opportunity." [Read more]

Top 5 Downgrades:

Oppenheimer downgraded BioMarin (BMRN) to Perform from Outperform without a price target after surveying European and U.S. hematologists to gather their perspective on Roctavian. [Read more]

Wolfe Research downgraded AbbVie (ABBV) to Peer Perform from Outperform without a price target. Following the re-rating that began in late 2021, AbbVie is no longer the single-digit price-to-earnings stock it once was, the firm argues. [Read more]

Rosenblatt downgraded Sirius XM (SIRI) to Neutral from Buy with a price target of $4.80, down from $7.40. New and used car sales, which are a key driver of sub growth, are "subpar" and Sirius XM is guiding for a modest decline in subscribers for 2023, the firm says. [Read more]

Atlantic Equities downgraded AIG (AIG) to Neutral from Overweight with a price target of $65, down from $70. Premium growth for property and casualty names was lower in Q4, particularly for AIG, and profitability improvements slowed given issues with personal lines businesses and crop insurance, the firm says. [Read more]

BTIG analyst Carl Reichardt downgraded LGI Homes (LGIH) to Sell from Neutral with a $73 price target. The downgrade is largely based on the stock's relative valuation as opposed to a specific catalyst or change in view on housing demand, the firm says. [Read more]

Top 5 Initiations:

Piper Sandler analyst Crispin Love initiated coverage of NewtekOne (NEWT) with a Neutral rating and $22 price target. The firm sees "plenty to like" in the story, but says the near-term "could be choppy" given the uncertain environment for loan growth and small business credit. [Read more]

Credit Suisse initiated coverage of Olema Oncology (OLMA) with an Outperform rating and $12 price target. The firm notes Olema's lead asset, OP-1250, is a CERAN -- complete estrogen receptor antagonist/SERD -- selective estrogen receptor degrader -- being developed for ER+/HER2- breast cancer. [Read more]

Cowen initiated coverage of OmniAb (OABI) with an Outperform rating and $10 price target as it believes the company can capitalize on its downstream potential. [Read more]

Roth MKM initiated coverage of Immix Biopharma (IMMX) with a Buy rating and $14 price target. The firm notes that close competitor Arcellx (ACLX) recently signed a commercialization deal worth $325 million just in upfront cash, 11 times Immix's market value. [Read more]

BofA reinstated coverage of Diversey (DSEY) with an Underperform rating and $6 price target. The company's earnings have been held back by its exposure to Europe and persistent cost inflation, which are challenges that are unlikely to improve in the near-term, BofA tells investors. [Read more]

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