Big banks kick off third-quarter earnings season tomorrow, and Wall Street analysts are already reshuffling their bets with a wave of surprise upgrades, downgrades, and fresh initiations across some of the market’s most closely watched names.
Pre-Market Stock Futures:
Futures are trading mixed as we head into a week that marks the start of third-quarter earnings reports, with big-money banks leading off tomorrow. All major indices finished higher on Friday, as Wall Street posted a winning week. The Dow Jones Industrial Average led the way, closing up 0.83% at 51,464, while the tech-heavy Nasdaq also finished strong, up 0.64% at 27,366. The S&P 500 last traded at 7,811, up 0.59%, while the small-cap Russell 2000 finished at 2,806, up 0.46%. Wall Street pundits cited easing geopolitical tensions and the major oil deal with Russia as positive factors that gave stocks a tailwind on Friday.
Treasury Bonds:
Yields were mixed across the Treasury curve, with sellers targeting the 3-year to 10-year maturities. At the close, the 30-year bond was perched at 5.60%, while the 10-year note traded at 5.24%. Strong investor demand for the 10-year and 30-year government auctions tapered the rampant selling that had driven yields to 25-year highs.
Oil and Gas:
Prices were slightly higher across the energy complex on Friday as Russia and Germany added diesel to Europe’s supply. Prices had drifted higher ahead of Hurricane Isaias making landfall in the Florida Panhandle, which fortunately didn’t significantly impact production in the Gulf of America. Brent Crude finished Friday at $104.70, while West Texas Intermediate was last seen at $91.85. Natural gas had another positive day, closing at $3.22, up 1.64%.
Gold:
Gold also finished the week strong, up 1.3%. Spot Gold closed at $4,193, up 1.48%, while Silver was last seen at $60.70, up 2.77%. Falling Treasury yields and a weaker dollar drove Friday’s strength.
Crypto:
Crypto staged a quiet comeback on Friday, catching its breath after getting absolutely hammered mid-week by macro headwinds and a brutal wave of liquidations. Traders were still feeling the whiplash from Thursday’s absolute bloodbath, which saw nearly $1 billion in forced liquidations market-wide. Over-leveraged longs got vaporized when Bitcoin cratered to an intraday low of $80,400, but dip-buyers stepped in as the day pushed prices back into the green. At 8 AM EDT, Bitcoin was trading at $83,250, while Ethereum was quoted at $2,541.
24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. Important reminder: No single analyst report should ever be the sole basis for buying or selling a stock.
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations from Monday, October 12, 2026.
Upgrades:
- Biogen (NASDAQ: BIIB | BIIB Price Prediction) was upgraded to Overweight from Equal Weight at JPMorgan, which raised the price target for the biotech giant to $300 from $210.
- First Solar (NASDAQ: FSLR) was raised to Buy from Hold at Truist Financial, with a $270 target price, up from $229.
- Salesforce (NYSE: CRM) was double upgraded to Buy from Underperform at Bank of America, which raised the target price for the stock to $285 from $160.
- T-Mobile U.S. (NASDAQ: TMUS) was upgraded to Outperform from Market Perform at Raymond James, with a $170 target price.
- Tyler Technologies (NYSE: TYL) was upgraded to Overweight from Equal Weight at Wells Fargo, which boosted the target price for the shares to $400 from $335.
Downgrades:
- Adobe (NASDAQ: ADBE) was downgraded to Underweight from Equal Weight at Wells Fargo, which slashed the target price to $225 from $270.
- GoDaddy (NYSE: GDDY) was downgraded to Sector Perform from Outperform at RBC Capital, with an unchanged $95 target price.
- HubSpot (NASDAQ: HUBS) was cut to Equal Weight from Overweight at Barclays, with an unchanged $240 target price.
- Palantir Technologies (NASDAQ: PLTR) was downgraded to Neutral from Buy at Phillip Securities, with a $215 target price.
- Snowflake (NYSE: SNOW) was downgraded to Accumulate from Buy at Phillip Securities, with a $515 target price.
Initiations:
- Interactive Brokers (NASDAQ: IBKR) was initiated with an Outperform rating at Evercore ISI, with a $100 target price.
- MiniMed Group (NASDAQ: MMED) was initiated with a Hold rating at Jefferies, with a $22 target price.
- Odyssey Therapeutics (NASDAQ: ODTX) was initiated with a Buy rating at UBS, with a $27 target price.
- Robinhood Markets (NASDAQ: HOOD) was initiated with an Outperform rating at Evercore ISI, with a $130 target price.
- TeraWulf (NASDAQ: WULF) was started with a Buy rating at TD Cowen, with a $21 target price.
Contact [email protected] for any questions or corrections.
