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

Top 5 Upgrades:

Citi analyst upgraded Exact Sciences (EXAS) to Buy from Neutral with a price target of $90, up from $70. The firm believes the stock's current multiple has upside as Exact returns to a "consistent beat-and-raise story," driven by Cologuard. [Read more]
Barclays upgraded Hilton Worldwide (HLT) to Overweight from Equal Weight with a price target of $168, up from $151. The company has "underappreciated" net unit growth prospects in a slowing macro backdrop, the firm says. [Read more]
Credit Suisse upgraded Nuvei (NVEI) to Outperform from Neutral with a price target of $45, up from $37. Following the company's Q4 report, the firm believes Nuvei is now past the "bulk of the cryptocurrency-related headwinds." [Read more]
KeyBanc upgraded VICI Properties (VICI) to Overweight from Sector Weight with a $36 price target. The firm sees potential for an improving internal growth outlook for VICI materializing given a higher inflationary backdrop, as well as potential for a higher level of accretive investment activity. [Read more]
BofA upgraded Vertex (VRTX) to Neutral from Underperform with a price target of $20, up from $16, after the company reported "healthy" Q4 results that included strength across all verticals. [Read more]

Top 5 Downgrades:

Jefferies double downgraded Etsy (ETSY) to Underperform from Buy with a price target of $85, down from $150. Buyers are churning faster and spending less on Etsy, forcing the company's marketing higher and putting pressure on EBITDA, the firm notes. [Read more]
Benchmark downgraded Trade Desk (TTD) to Sell from Hold with a $38 price target. The firm sees "untenable" buyside expectations for 2023, arguing that the shares are "priced to perfection in an imperfect market." [Read more]
Credit Suisse downgraded Fortune Brands Innovations (FBIN) to Underperform from Neutral with a $48 price target. The firm believes the company's results are likely to fall below guidance and consensus. [Read more]
Barclays downgraded Hyatt Hotels (H) to Equal Weight from Overweight with a price target of $125, down from $130. After strong share price performance over the last 12 months, Hyatt's valuation now limits the stock's upside potential, the firm says. [Read more]
CL King downgraded United Natural Foods (UNFI) to Neutral from Buy after the company reported a significant Q2 earnings miss and cut its earnings guidance. [Read more]

Top 5 Initiations:

Needham initiated coverage of Bausch + Lomb (BLCO) with a Hold rating. The company has increased R&D investments to pull forward several important product commercialization timelines, but it will likely take time for recent and upcoming launches to meaningfully drive revenue growth and margins, the firm argues. [Read more]
BofA reinstated coverage of Sysco (SYY) with a Buy rating and $90 price target. The company is poised for market share gains, margin recovery and earnings growth, the firm says. [Read more]
Barclays initiated coverage of Nurix Therapeutics (NRIX) with an Overweight rating and $20 price target. The firm sees an attractive valuation for the shares with "value-inflecting" data readouts in in the second half of 2023. [Read more]
William Blair initiated coverage of Pegasystems (PEGA) with a Market Perform rating as it wants to see more visibility into a potential outcome for the lawsuit with Appian. [Read more]
DA Davidson initiated coverage of BigCommerce (BIGC) with a Neutral rating and $11 price target. The firm is positive on the company's ample share gain opportunities and significant margin expansion potential, though in the near-term, the firm warns that its heavy exposure to SMBs is creating a drag while its customer losses reflect the impact of split attention in its go-to market. [Read more]

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