Wall Street firms lift SpaceX, Apple and Salesforce among Monday rating changes

Traders Union
All News
Financial News
Wall Street rating changes

Highlights

Pivotal reiterates SpaceX at buy, raising its price target to $230 from $220 on stronger Starlink mobile-subscription forecasts and ARPU in the low-$20s.
JPMorgan raises Apple price target to $360 from $340 and Bank of America upgrades Salesforce to buy with a new $285 objective, citing durable revenue fundamentals despite earlier AI disruption concerns.
Wells Fargo downgrades Adobe to underweight citing negative catalysts, while analysts broadly favor sectors like cloud software, infrastructure and biotech on resilient cash flows and AI-driven growth.

Brokerage actions across technology and growth stocks

As reported by CNBC, Monday's analyst actions include a mix of upgrades, initiations and reiterations, led by Pivotal's decision to reiterate SpaceX at buy and lift its price target to $230 per share from $220. Pivotal says the change reflects added Starlink Mobile forecasts and projects Starlink reaches about 160 million global mobile subscribers by 2036 at a blended average revenue per user in the low-$20s.

JPMorgan reiterates Apple at overweight and raises its price target to $360 from $340, saying investors are adjusting to a new seasonality in iPhone revenue. Bank of America also upgrades Salesforce to buy from underperform and raises its price objective to $285 from $160, arguing that large enterprises are unlikely to replace platforms that hold business logic, data, workflows and compliance frameworks despite earlier concerns about AI-driven disruption.

Morgan Stanley names eBay a top pick, citing faster growth tied to live commerce, and also upgrades Manhattan Associates and SLM to overweight from equal weight. Northland upgrades C3.ai to outperform, while Wells Fargo upgrades Tyler Technologies to overweight but downgrades Adobe to underweight, saying negative catalysts outweigh the prior bullish stance.

Other notable calls include UBS reiterating Nvidia at buy after meeting management, Deutsche Bank initiating Interactive Brokers at buy, Evercore ISI initiating Robinhood at outperform, and TD Cowen starting coverage of TeraWulf and Brown & Brown with buy ratings. Raymond James also upgrades T-Mobile to outperform, arguing investor concerns tied to SpaceX are overstated ahead of third-quarter 2026 results.

Sector impact from biotech to infrastructure

Several firms focus their positive calls on healthcare and biotech names. UBS initiates Shattuck Labs at buy, Jefferies starts Beta Bionics at buy, JPMorgan upgrades Biogen to overweight, Bank of America initiates AxoGen at buy, and Canaccord begins coverage of Butterfly Network with a buy rating, pointing to revenue or catalyst-driven upside across the group.

Industrial, transport and property-related names also draw support. Citi upgrades Allison Transmission to buy and lifts Blackstone Digital Infrastructure Trust to buy despite cutting its target, saying both cash flow and valuation remain attractive. Baird upgrades Hub Group to outperform, BMO lifts Terreno Realty to outperform, Seaport upgrades Hexcel and Mattel to buy, and Truist upgrades First Solar to buy on what it sees as a stronger pricing backdrop into the 2030s.

The breadth of the recommendations suggests analysts are looking past near-term volatility and emphasizing longer-term earnings resilience, cash generation and AI-linked demand trends. That pattern is especially visible in calls tied to cloud software, communications infrastructure and satellite connectivity, where firms argue current valuations do not fully reflect future growth paths.

Truist’s upgrade of First Solar outlined a more constructive long-term setup for the stock after its sharp year-to-date decline, pointing to firmer U.S. utility-scale solar demand and improving panel pricing into the 2030s. Our earlier article also noted that U.S. trade measures such as Section 232 restrictions on certain polysilicon imports could help support domestic solar manufacturers by reducing stockpiling risks and strengthening contracting dynamics.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.