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Analyst Wire — 2026-09-23

Every US sell-side action recorded on 2026-09-23 — 111 in total: 4 upgrades, 5 downgrades, plus initiations and price-target moves, frozen as recorded.

The live wire refreshes through each trading day; this page never changes again. Third-party actions with our context — a diary, not advice.

Upgrades (4)

NameFirmRatingTargetCallOurs
CNScotiabankSector Outperform → Outperform—Upgraded to Outperform from Sector Outperform—
MSFTSusquehannaPositive → Neutral—Upgraded to Neutral from PositiveAW40
KSMacquarieUnderperform → Outperform—Upgraded to Outperform from Underperform—
SMUBSNeutral → Buy—Upgraded to Buy from Neutral—

Downgrades (5)

NameFirmRatingTargetCallOurs
MSFTRaymond JamesOutperform → Underperform—Downgraded to Underperform from OutperformAW40
MSFTWolfe ResearchOutperform → Peer Perform—Downgraded to Peer Perform from OutperformAW40
ALVWolfe ResearchOutperform → Peer Perform—Downgraded to Peer Perform from Outperform—
ARXRaymond JamesMarket Perform → Underperform—Downgraded to Underperform from Market Perform—
BWINRaymond JamesOutperform → Underperform—Downgraded to Underperform from Outperform—

Initiations (17)

NameFirmRatingTargetCallOurs
MSFTNeedhamBuy → Buy—Initiated to Buy from BuyAW40
MSFTUBSBuy → Buy—Initiated to Buy from BuyAW40
MSFTOppenheimerOutperform → Outperform—Initiated to Outperform from OutperformAW40
HUBSUBSNeutral → Sector Perform—Initiated to Sector Perform from NeutralAW40
OPYOppenheimerOutperform → Outperform—Initiated to Outperform from Outperform—
MDGLCitigroupOutperform → Buy—Initiated to Buy from Outperform—
MAZECitigroupBuy—Initiated to Buy—
LFMDCantor FitzgeraldOverweight → Overweight—Initiated to Overweight from Overweight—
CNDesjardinsBuy → Buy—Initiated to Buy from Buy—
CORZUBSBuy—Initiated to Buy—
WULFUBSBuy—Initiated to Buy—
HUTUBSBuy → Buy—Initiated to Buy from Buy—
CNRBC CapitalOutperform → Sector Perform—Initiated to Sector Perform from Outperform—
APLDUBSMarket Outperform → Buy—Initiated to Buy from Market Outperform—
CIFRUBSNeutral → Buy—Initiated to Buy from Neutral—
SPHSBCBuy → Buy—Initiated to Buy from Buy—
AVBernsteinOutperform—Initiated to Outperform—

Price-target moves (85)

NameFirmRatingTargetCallOurs
BSXWells Fargo—$50 → $48Target cut to $48 from $50 (+7.6% to spot)—
ROLPiper Sandler—$33Target set to $33 (+1.6% to spot)—
FRVOJohnson Rice—$35Target set to $35 (+114.1% to spot)—
SKHYWolfe Research—$200 → $250Target raised to $250 from $200 (+31.4% to spot)—
GEJefferies—$455 → $435Target cut to $435 from $455 (+35.3% to spot)—
FSSLCompass Point—$15.75Target set to $15.75 (+34.6% to spot)—
ANABLeerink—$90 → $81Target cut to $81 from $90 (+59.9% to spot)—
WFRDUBS—$116Target set to $116 (+37% to spot)—
AZOTruist Securities—$3648Target set to $3648 (+31.2% to spot)—
MTBTruist—$268 → $250Target cut to $250 from $268 (+12.6% to spot)—
RFTruist—$34 → $31Target cut to $31 from $34 (+12.3% to spot)—
KBHEvercore ISI—$62 → $59Target cut to $59 from $62 (+22.2% to spot)—
FSLYDA Davidson—$21 → $23Target raised to $23 from $21 (-7.5% to spot)AEI
VKTXTruist—$83 → $87Target raised to $87 from $83 (+129.1% to spot)HALO
NKEOppenheimer—$60 → $52Target cut to $52 from $60 (+44.8% to spot)—
AMRZDeutsche Bank—$64 → $56Target cut to $56 from $64 (+46.8% to spot)—
ACHCLeerink—$30 → $33Target raised to $33 from $30 (+14.5% to spot)—
CLDXLeerink—$70 → $88Target raised to $88 from $70 (+182.2% to spot)—
MELINew Street—$2450Target set to $2450 (+35.3% to spot)HALO · AW40
QNRXLake Street—$20Target set to $20 (+172.5% to spot)—
FITBTruist—$64 → $63Target cut to $63 from $64 (+19.4% to spot)—
HBANTruist—$20 → $19Target cut to $19 from $20 (+21.1% to spot)—
KBHRBC Capital—$53 → $50Target cut to $50 from $53 (+2.9% to spot)—
NKTRWedbush—$80 → $50Target cut to $50 from $80 (-18% to spot)—
AZOBMO Capital—$4000 → $3500Target cut to $3500 from $4000 (+20.9% to spot)—
STZUBS—$168 → $145Target cut to $145 from $168 (+23.3% to spot)—
PATHUBS—$19 → $15Target cut to $15 from $19 (+13.2% to spot)Euro-AI · AW40
PMUBS—$182 → $192Target raised to $192 from $182 (+0.9% to spot)—
AZORoth Capital—$4023 → $3850Target cut to $3850 from $4023 (+33% to spot)—
THORoth Capital—$78 → $74Target cut to $74 from $78 (+0.3% to spot)—
CGNXBaird—$78 → $70Target cut to $70 from $78 (+18.7% to spot)Rubin
AZOBaird—$3600 → $3400Target cut to $3400 from $3600 (+17.5% to spot)—
PATHTruist Securities—$14Target set to $14 (+8.5% to spot)Euro-AI · AW40
MUWells Fargo—$1400Target set to $1400 (+27.7% to spot)Rubin
AZOTD Cowen—$3400Target set to $3400 (+17.5% to spot)—
TLSIH.C. Wainwright—$12Target set to $12 (+143.4% to spot)—
VLOGoldman Sachs—$365 → $457Target raised to $457 from $365 (+21.2% to spot)—
CLDXMorgan Stanley—$50 → $57Target raised to $57 from $50 (+70.1% to spot)—
GDBernstein—$421 → $407Target cut to $407 from $421 (+18.5% to spot)—
NOCBernstein—$653 → $620Target cut to $620 from $653 (+21.6% to spot)—
TTIStifel—$13 → $12Target cut to $12 from $13 (+99.3% to spot)—
KBHBofA Securities—$54Target set to $54 (+11.1% to spot)—
AZOMizuho—$3000Target set to $3000 (+3.6% to spot)—
KLCMorgan Stanley—$2.5 → $2Target cut to $2 from $2.5 (-13.8% to spot)—
BFAMMorgan Stanley—$68 → $66Target cut to $66 from $68 (+1.6% to spot)—
CMPXGuggenheim—$4Target set to $4 (+222.6% to spot)—
AZOGuggenheim—$4000 → $3750Target cut to $3750 from $4000 (+29.5% to spot)—
DPZGuggenheim—$440 → $325Target cut to $325 from $440 (+9.4% to spot)—
THOBaird—$90 → $80Target cut to $80 from $90 (+8.4% to spot)—
PBRUBS—$22 → $23Target raised to $23 from $22 (+10.8% to spot)—
AZORaymond James—$4000 → $3700Target cut to $3700 from $4000 (+27.8% to spot)—
CFGTruist—$80 → $77Target cut to $77 from $80 (+17.6% to spot)—
KMXMorgan Stanley—$44 → $47Target raised to $47 from $44 (-17.3% to spot)—
RTXBernstein—$232 → $223Target cut to $223 from $232 (+16.8% to spot)—
HIIBernstein—$341 → $327Target cut to $327 from $341 (+20.7% to spot)—
MGYSiebert Williams—$32Target set to $32 (+33.2% to spot)—
FSLYBofA Securities—$22Target set to $22 (-15.6% to spot)AEI
RXOSusquehanna—$19Target set to $19 (-4% to spot)—
HUBSFBN Securities—$230Target set to $230 (+5.6% to spot)AW40
BDCNeedham—$140Target set to $140 (+23.9% to spot)—
ENHACantor Fitzgerald—$4Target set to $4 (+168.5% to spot)—
AMRXOppenheimer—$27Target set to $27 (+38.5% to spot)—
TEVAOppenheimer—$50Target set to $50 (+26.5% to spot)—
COLLOppenheimer—$50Target set to $50 (+119.5% to spot)—
PCRXOppenheimer—$32Target set to $32 (+29.6% to spot)—
CRMDOppenheimer—$15Target set to $15 (+92.8% to spot)—
ANIPOppenheimer—$85Target set to $85 (+9.1% to spot)—
VNDAOppenheimer—$10Target set to $10 (+91.9% to spot)—
TTCOppenheimer—$120Target set to $120 (+27% to spot)—
AMGNJefferies—$410Target set to $410 (-0.1% to spot)HALO
VRTXJefferies—$640Target set to $640 (+24.3% to spot)HALO
NKEBarclays—$52 → $48Target cut to $48 from $52 (+33% to spot)—
CNIBofA Securities—$143Target set to $143 (+19.6% to spot)—
ACNBMO Capital—$200Target set to $200 (+8.9% to spot)—
CMPXCitizens After FDA Dialogue—$4Target set to $4 (+222.6% to spot)—
FBRTMarket Outperform by Citizens—$10Target set to $10 (+29% to spot)—
LKFTRBC Capital—$45Target set to $45 (+49.1% to spot)—
AVEXJefferies—$26Target set to $26 (+63.5% to spot)—
AZOBarclays—$3637 → $3400Target cut to $3400 from $3637 (+17.5% to spot)—
BBNXWells Fargo—$28Target set to $28 (+22.8% to spot)—
PLSEBTIG—$70Target set to $70 (+32.9% to spot)—
ORICBTIG—$26Target set to $26 (+92.6% to spot)—
VTRSOppenheimer—$25Target set to $25 (+45.5% to spot)—
APHBernstein—$99Target set to $99 (+19.5% to spot)Rubin
TELBernstein—$243Target set to $243 (+13.8% to spot)—

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