Deere upgraded, Lumentum initiated: Wall Street's top analyst calls

Deere upgraded, Lumentum initiated: Wall Street's top analyst calls

Mon, August 31, 2026 at 4:45 PM GMT+3 4 min read

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.

Top 5 Upgrades:

• Baird upgraded Deere (DE) to Outperform from Neutral with a price target of $800, up from $640. The firm says Deere is the "cleanest setup" in the sector given its high exposure to North America row crop equipment demand.

• Argus upgraded Abercrombie & Fitch (ANF) to Buy from Hold with a $162 price target. The firm notes it had been looking for signs of improved sales strength as an update trigger, and those signs were evident with the company's Q2 earnings beat as Abercrombie & Fitch grew its sales and expanded margins.

• Baird upgraded Agco (AGCO) to Outperform from Neutral with a price target of $150, up from $120. The firm says any North America volume recovery in 2027 should flow straight to Agco's bottom line from a low base.

• UBS upgraded Kaiser Aluminum (KALU) to Buy from Neutral with a price target of $184, up from $179. The recent selloff provides an attractive entry point "into a business with improving earnings power," the firm tells investors in a research note.

• Baird upgraded Stag Industrial (STAG) to Outperform from Neutral with an unchanged price target of $42. The stock's valuation is "hard to ignore," the firm tells investors in a research note.

Top 5 Downgrades:

• Wells Fargo downgraded PG&E (PCG) to Equal Weight from Overweight with a price target of $24, down from $25, with no meaningfully liability reform for shareholders in final SB492 bill text and given a lack of meaningful wildfire liability backstop. BMO Capital also downgraded PG&E to Market Perform from Outperform with a price target of $21, down from $28.

• Mizuho downgraded PG&E (PCG), Sempra Energy (SRE) and Edison International (EIX) to Neutral from Outperform. The firm downgraded three California utilities citing the failure of the state legislature to pass meaningful reform.

• Guggenheim downgraded Tenax Therapeutics (TENX) to Neutral from Buy with no price target While the LEVEL trial presentation at ESC indicated there may be a potential path forward in patients with severe PH-HFpEF, the firm believes "substantial clinical and regulatory uncertainty remains."

• Citi downgraded Miniso (MNSO) to Neutral from Buy with a price target of $11.30, down from $23.40. The company reported a first half of 2026 operating miss and reduced its 2026 outlook, the firm tells investors in a research note.

• Freedom Broker downgraded Strattec Security (STRT) to Hold from Buy with a price target of $83, down from $89. The firm, which notes management did not provide formal revenue guidance, instead framing FY27 as tracking industry production, and noted that North American output is seen being down about 2%, is lowering its FY27 revenue vie by 4.7% to reflect the guided 2% NA production decline and the steeper roughly 6% decline at the Detroit 3.

Top 5 Initiations:

• Evercore ISI initiated coverage of Lumentum (LITE) with an Outperform rating and $1,100 price target. The firm says that as AI accelerator deployments continue to inflect higher, their utilization is "severely limited" by connectivity. Lumentum's "diversity of growth means not all things need to go right for the stock to work," the firm tells investors in a research note.

• Cantor Fitzgerald initiated coverage of Braveheart Bio (BRVE) with an Overweight rating and $40 price target. The firm sees "plenty to play for from here" despite the stock's recent rally. Jefferies, Stifel, Goldman Sachs and TD Cowen also started coverage of Braveheart Bio with Buy-equivalent ratings.

• H.C. Wainwright initiated coverage of Scribe Therapeutics (SCTX) with a Buy rating and $60 price target. The firm believes the Street underestimates the clinical value of durable PCSK9 suppression in mass-market cardiovascular disease.

• Roth Capital initiated coverage of Ticketplus (TP) with a Buy rating and $14 price target. Roth sees positive secular tailwinds, the company's geographic expansion, and dual revenue stream driving its growth.

• RBC Capital initiated coverage of Attovia (ATTO) with an Outperform rating and $45 price target. The firm believes the company's Attobody platform, which designs biologics against validated targets, will position it as a key player in the next-wave immunology and inflammation landscape.