Pre-Market Stock Futures:
The futures are trading mixed as we get set to close out a wild and woolly week that saw a touch of just about everything. The Federal Reserve, as expected, cut rates again and indicated that another cut could come in 2026. Oracle Corp. (NASDAQ: ORCL), which has been on fire this year, was hammered after the company missed earnings expectations and told Wall Street it has implemented a substantial jump in spending on AI data centers, which many investors feel is taking too long to translate into profit. On Thursday, the venerable Dow Jones Industrials printed an all-time high, closing up 1.34% at 48,704, and the S&P 500 also had a solid day, ending the session at 6,901, up 0.12%. The Nasdaq, due in part to the beat-down Oracle received, was the lone loser of the major indices, closing at 23,593, down 0.26%.
Treasury Bonds:
Yields were mainly lower across the yield curve on Thursday as buyers returned. The prospect of another rate cut in 2026, plus a less hawkish tone from Chairman Powell in his prepared remarks on Wednesday, were both cited as reasons for the strength. Plus, the Fed announced it was resuming buying short-term Treasury securities to manage market liquidity. The purchases are intended to be a technical adjustment, not a change in the stance of monetary policy. The 30-year long bond finished the day at 4.8% while the benchmark 10-year note was last seen at 4.16%.
Oil and Gas:
Prices were down across the energy complex, with both major benchmarks and natural gas finishing the day lower. Once again, as has been the case for months, oversupply is the leading reason for the sector’s weakness. In addition, Wall Street cited the restoration of production in Iraq. Brent Crude closed Thursday at $$61.54 down 1.08% while West Texas Intermediate was last seen Thursday at $57.88 down right at 1%. Natural gas was down almost 8% to $4.23 despite a somewhat supportive inventory report. Forecasts of mild weather and weaker demand in the near term also contributed to downward pressure on gas prices, despite a forecast of another winter blast this weekend.
Gold:
Gold had a strong day as the bullion continues to surge higher. Some analysts and traders pointed to bullish commentary from Goldman Sachs, which sees “significant upside” to its 2026 target price of $4,900. Gold closed the day at $4,232 while Silver continued to run higher, finishing the session at $61.90. Analysts cited the weaker dollar and the Fed’s rate cut as reasons boosting precious metals on Thursday. At the same time, silver also surged to record highs due to strong industrial demand (especially for AI/tech) and tight supply, creating a large market shortage.
Crypto:
The cryptocurrency market broadly declined on Thursday before a late-day surge, with major assets like Bitcoin and Ethereum falling despite the Federal Reserve’s interest rate cut. The market experienced broad downward pressure due to a somewhat “hawkish” Fed outlook and concerns about AI company profitability, which weighed on broader risk sentiment. Plus, short-term traders are likely scalping profits from the recent big sell-off, which saw a nice bounce off the lows. At 8 AM EST, Bitcoin was quoted at $92,370, while Ethereum was seen at $3,246.
24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock.
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Friday, December 12, 2025.
Upgrades:
- Allegiant Travel Company (NASDAQ: ALGT) was upgraded to Buy from Hold at Deutsche Bank, which has set a $105 target price.
- Bristol-Myers Squibb Co. (NYSE: BMY) was raised to Buy from Neutral at Guggenheim with a $62 target price objective.
- Citigroup Inc. (NYSE: C) JPMorgan upgraded the banking giant to Overweight from Neutral and raised the target price to $124 from $107.
- Gaming and Leisure Properties Inc. (NASDAQ: GLPI) was raised to Overweight from Neutral at JPMorgan, which bumped the target price to $53 from $52.
- Lululemon Athletica Inc. (NASDAQ: LULU) was raised to Hold from Underperform at Jefferies, which boosted the target price to $170 from $120.
- Soundhound AI Inc. (NASDAQ: SOUN) was raised to Overweight from Neutral at Cantor Fitzgerald, which raised the target price on the shares to $15 from $13.
Downgrades:
- BOK Financial Corp. (NASDAQ: BOKF) was cut to Market Perform from Outperform at Hovde Group with a $129 target price.
- Forge Global Holdings Inc. (NYSE: FRGE) was cut to Market Perform from Outperform at Citizens JMP, which kept a $45 target price. Charles Schwab is purchasing the company.
- PayPal Holdings Inc. (NASDAQ: PYPL) was downgraded to Neutral from Outperform at Baird, which dropped the target price on the stock to $66 from $83.
- Roblox Corp. (NYSE: RBLX) was cut to Neutral from Overweight at JPMorgan, which cut the target price for the stock to $100 from $145.
- Valero Energy Corp. (NYSE: VLO) was downgraded to Neutral from Outperform at Mizuho, which nudged the target price for the refiner to $192 from $190.
Initiations:
- Badger Meter Inc. (NYSE: BMI) was initiated with a Buy rating at Jefferies with a $220 target price.
- Life360 Inc. (NASDAQ: LIF) was started with a Buy rating with a $94 target price at DA Davidson.
- Magnum Ice Cream Company NV (NYSE: MICC) was started with a Neutral rating at Goldman Sachs with a $16 target price.
- Moderna Inc. (NASDAQ: MRNA) was started with a Hold at Jefferies with a $30 target price.
- Tyler Technologies Inc. (NYSE: TYL) was initiated with a Buy rating at TD Cowen with a $650 target price.
- Zurn Elkay Water Solutions Corp. (NYSE: ZWS) was started with a Buy rating at Jefferies, which has a $58 target price objective.
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