Apple downgraded, HPE upgraded: Wall Street's top analyst calls

Apple downgraded, HPE upgraded: Wall Street's top analyst calls

Mon, August 10, 2026 at 4:39 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 Upgrades:

• Morgan Stanley upgraded HPE (HPE) to Overweight from Equal Weight with a price target of $69, down from $71. The firm admits to having been on the wrong side of the enterprise hardware trade, previously believing that record component inflation would quickly stymie a recovery in hardware spending, but its AlphaWise survey confirms this cycle is driven by refresh, pull-forward and AI, making this "a longer but still predominantly cyclical infrastructure upcycle." Morgan Stanley also upgraded NetApp (NTAP) to Equal Weight from Underweight with a price target of $173, up from $137.

• Argus upgraded SanDisk (SNDK) to Buy from Hold. The company reported sharply-above consensus results in Q4 and is seeing accelerating momentum in data center, driven by AI infrastructure investments as well as solid-state drive and enterprise solutions, the firm tells investors in a research note.

• Wells Fargo upgraded Dick's Sporting (DKS) to Overweight from Equal Weight with a price target of $240, up from $220. The firm sees a favorable risk/reward at current share levels given the company's multi-year growth story.

• Freedom Broker upgraded Qualcomm (QCOM)to Buy from Hold with an unchanged price target of $200. The firm cites valuation, saying the shares are down far enough to leave "attractive upside even on materially reduced earnings."

• Susquehanna upgraded Everpure (P) to Positive from Neutral with a price target of $120, up from $85. Recent channel checks suggest demand for 2Tb QLC-based, mass-capacity SSDs is "finally beginning to materialize following nearly a year of delays," says the firm, which has increased confidence a broader hyperscaler customer base and strengthening enterprise storage demand will drive upside to second half of FY27 revenue expectations. Morgan Stanley also upgraded Everpure to Overweight from Equal Weight with a price target of $108, up from $87.

Top Downgrades:

• Jefferies downgraded Apple (AAPL) to Underperform from Hold with a price target of $263.66, down from $285.56. The firm's supply-chain checks indicate Apple has cancelled the 20th anniversary all-glass iPhone model, which was supposed to be launched in September 2027, due to poor production yield.

• Morgan Stanley downgraded Teradata (TDC) to Equal Weight from Overweight with a price target of $29, down from $35. The firm says the AI opportunity remains "compelling," but the expected growth acceleration and estimate upside have yet to materialize.

• Wells Fargo downgraded Doximity (DOCS) to Underweight from Equal Weight with an unchanged price target of $18. The shares are trading at "compounder multiples" while the company is posting "market-level growth," the firm tells investors in a research note.

• RBC Capital downgraded Spectrum Brands (SPB) to Sector Perform from Outperform with a price target of $92, up from $85. The company's fiscal Q3 results were positive and should reinforce confidence in Spectrum's "significantly improved position" relative to pre-tariffs, but RBC sees "little juice left to squeeze" at the stock's current valuation following material outperformance relative to both the market and staples peers year-to-date.

• HSBC downgraded Akamai (AKAM) to Hold from Buy with a price target of $123, down from $171. The firm cut the company's 2027 and 2028 earnings estimates post Q2 report on signs of cloud infrastructure margins coming in below expectations.

Top Initiations:

• Scotiabank initiated coverage of Csquare (CSQR) with an Outperform rating and $30 price target. Csquare has amassed a "sizable, differentiated, interconnected, and hard-to-replicate portfolio of colocation sites in U.S. urban areas," the firm tells investors in a research note. Bernstein, BofA, TD Cowen, Morgan Stanley, BMO Capital, RBC Capital, Wells Fargo and Jefferies also started coverage of the stock with Buy-equivalent ratings, while JPMorgan initiated the stock with a Neutral.

• William Blair initiated coverage of Standard Nuclear (STDN) with an Outperform rating and $20 fair value estimate. Standard Nuclear offers investors exposure to the advanced reactor buildout through the fuel, the firm tells investors in a research note. BofA, Stifel, RBC Capital, UBS; Barclays and Evercore ISI also started coverage of Standard Nuclear with Buy-equivalent ratings.

• Piper Sandler initiated coverage of Guidewire (GWRE) with an Overweight rating and $210 price target. The firm views Guidewire as a "best-in-class vertical" software vendor for the insurance industry.

• JPMorgan initiated coverage of Kestra Medical (KMTS) with an Overweight rating and $30 price target. The firm believes the company offers a "firmer reimbursement foundation" than most early commercial peers. JPMorgan expects "durable adoption" for Assure WCD.