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:

Oppenheimer analyst Timothy Horan upgraded RingCentral (RNG) to Outperform from Perform with a $100 price target following quarterly results. RingCentral should be a beneficiary of his very optimistic outlook on the overall cloud communications sector, which Horan predicts will grow fourfold to $100B within six years.
Bank of America analyst Elizabeth Suzuki upgraded O'Reilly Automotive (ORLY) to Buy from Neutral with an unchanged $730 price target. Given the recent downturn in stocks across her hardline retail coverage, the analyst stated that the auto parts retail stocks are often considered more defensive, "staples-like" within the Consumer Discretionary sector. Suzuki also upgraded Genuine Parts (GPC) to Neutral from Underperform with a $133 price target.
Jefferies analyst Yaron Kinar upgraded Progressive (PGR) to Hold from Underperform with a price target of $106, up from $99. Recent company rate action and commentary leads him to conclude that Progressive, which paused new growth and pushed rate increases earlier, will achieve rate adequacy sooner than Allstate (ALL),
Roth Capital analyst Richard Baldry upgraded LivePerson (LPSN) to Buy from Neutral with an unchanged price target of $25 post first quarter results. The analyst has a more constructive view of LivePerson's near-term outlook, saying the recent share weakness has more than factored in its "staccato" operational execution over the past year.
Nomura analyst Anindya Das upgraded Goodyear Tire (GT) to Buy from Neutral with a price target of $15.30, up from $15. The shares have declined 48% year-to-date, the analyst noted, adding that he believes the stock "deserves a second look" after the selloff given the view that improved pricing power following the Cooper deal and its defensive characteristics given its high exposure to the replacement tire market.

Top 5 Downgrades:

Bernstein analyst Callum Elliott downgraded Altria Group (MO) to Market Perform from Outperform with a price target of $53, down from $58. The analyst thinks a potential acquisition of Swedish Match (SWMAY) by Philip Morris (PM) significantly reduces the likelihood of Altria dominating the U.S. NGP space in both the medium and long-term.
R.F. Lafferty analyst Jamie Perez downgraded Lordstown Motors (RIDE) to Sell from Hold with a price target of $1, down from $4, after the company announced a first quarter net loss of (42c) per share, which was in-line with consensus, and reported it had cash and cash equivalents of $203.4M as of March 31, 2022.
Stephens analyst Vincent Caintic downgraded Upstart (UPST) to Underweight from Equal Weight with a price target of $28, down from $124, following an earnings report he calls "more severe than we anticipated." The analyst also cut Affirm's (AFRM) rating to Underweight from Equal Weight after the news. Meanwhile, Goldman Sachs, Piper Sandler and Citi downgraded Upstart to Neutral-equivalent ratings.
RBC Capital analyst Sean Dodge downgraded GoodRx (GDRX) to Sector Perform from Outperform with a price target of $8, down from $35. The company's first quarter results were ahead of consensus, but GoodRx also retracted its full year guidance as a result of a key retail partner's inability to provide PBM discounts, the analyst noted. Raymond James and Evercore ISI also downgraded GoodRx to Neutral-equivalent ratings.
Piper Sandler analyst Charles Neivert downgraded Methanex (MEOH) to Underweight from Neutral with a price target of $48, down from $49. The analyst believes the company's quarterly earnings momentum is waning and that its earnings are likely to trend downward over the course of the next 12 to 18 months.

Top 5 Coverage Initiations:

Berenberg analyst Adrian Yanoshik initiated coverage of Tesla (TSLA) with a Hold rating and $900 price target. The analyst expects tight volumes can support pricing through a "modest" recession and says a consumer survey indicates premium segment resilience. Yanoshik also started coverage of Ford (F) with a Hold and General Motors (GM) with a Buy rating.
Wedbush analyst Nick McKay initiated coverage of Roblox (RBLX) with a Neutral rating and $28 price target. The analyst says he has "a love-hate relationship with Roblox," as he loves the company's innovation, its first mover advantage, its large and growing user base and its technology stack, but hates aspects of Roblox's business model, its ownership of its cloud infrastructure, its concentration of young users and its significant stock-based compensation.
B. Riley analyst Alex Rygiel initiated coverage of Beazer Homes (BZH) with a Buy rating and $23 price target. The analyst believes Beazer is at an "important inflection point," saying it is now focused on consistent growth with a significantly improved balance sheet following its de-leveraging actions.
Piper Sandler analyst Weston Twigg initiated coverage of Satellogic (SATL) with an Underweight rating and $5 price target. The analyst views the stock as overvalued relative to peers with complete constellations and higher revenue.
Citi analyst Scott Gruber initiated coverage of Denbury (DEN) with a Buy rating and $83 price target. Denbury's volumes are set to rise 20% over the next two years as Cedar Creek Anticline comes onstream while the hedge headwind should fade, Gruber told investors in a research note.