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Here Are Wednesday’s Best Wall Street Analyst Research Calls: Devon Energy, Flowserve, Klaviyo, Macerich, Merck, Nucor, Take-Two Interactive Software, Twilio, and More

  Pre-Market Stock Futures: Futures are trading higher this morning, but if you’ve ever heard the old saying, “when the chips are down”, that was the poster child phrase for Tuesday’s session, as technology stocks, and specifically the semiconductor stocks,…

By Lee Jackson
Published June 24, 2026, 8:15am ET · 4 min read

A low-angle view showing the brown 'WALL ST' and black 'BROAD ST' street signs against a backdrop of several tall, imposing skyscrapers under a bright, clear blue sky. The 'WALL ST' sign includes '11-21' with an arrow, and the 'BROAD ST' sign includes '1-26' with an arrow. The buildings feature a mix of classic architectural styles with many windows and some modern glass facades.
The iconic street signs of Wall Street and Broad Street frame the towering skyscrapers of New York's financial district, symbolizing the bustling world of banking. This intersection represents the core of financial activity where major institutions like BNY Mellon, Bank of America, and Wells Fargo operate. © mezzotint / Shutterstock.com

 

Pre-Market Stock Futures:

Futures are trading higher this morning, but if you’ve ever heard the old saying, “when the chips are down”, that was the poster child phrase for Tuesday’s session, as technology stocks, and specifically the semiconductor stocks, followed a worldwide sell-off that initially began in Korea and carried around the globe. When it was all said and done, all of the major indices finished the day lower, with the tech-heavy Nasdaq leading the way, dropping 2.22% to close at 25,587, while the S&P 500 dropped 1.44% to close at 7,365. Even the resilient small-cap-loaded Russell 2000, which is still the leading index this year, up almost 20%, closed down 0.96% at 2,975. The legacy Dow Jones Industrials almost finished the day higher, but succumbed to selling into the close, finishing down just 0.09% at 51,666. With the second quarter coming to an end, we could see more end-of-quarter reallocation and selling as portfolio managers prepare for window dressing.

Treasury Bonds:

After a dreadful Monday that saw yields rise across all maturities, yields were modestly lower across the curve on Tuesday as safe-haven and end-of-the-month maneuvering brought out buyers. By the final bell, the 30-year-long bond closed flat at 4.95%, while the benchmark 10-year note finished the day at 4.50%. We could see more buying the rest of the week and early next week.

Oil and Gas:

Just as on Monday, the sellers returned on Tuesday as oil prices fell across major benchmarks, with reports that more tankers were moving through the Strait of Hormuz. Needless to say, Iran was enthusiastic about letting them through the passage, where 20% of all oil is transported, after receiving a 60-day reprieve from sanctions on Iranian oil purchases. When the session ended on Tuesday, Brent Crude closed at $76.91, down 1.27%, while West Texas Intermediate was last seen at $73.07, down 1.07%. Natural gas, which has been on a winning streak as the commodity becomes a hot topic for powering data centers, closed at $3.16, down 2.89%.

Gold:

Gold continued its downward trend Tuesday, despite China’s continued massive purchases of the precious metal, which hit a 26-month high in May and are up a stunning 76% year-to-date. The final print for Gold was $4,112, down 1.92%, while Silver ended at $61.46, down 5.38%. Hawkish commentary by Federal Reserve officials and a strong dollar were both cited as reasons for the ongoing selling of both Gold and Silver. 

Crypto:

The cryptocurrency market experienced a broad sell-off on Tuesday, as digital assets fell in tandem with a major plunge in high-flying global technology and chip stocks. Analysts cited a hawkish shift in the Federal Reserve’s outlook, thin liquidity, and record institutional outflows from ETFs. Again, end-of-quarter selling was likely a factor as well. At 8 AM EDT, Bitcoin was trading at $62,540 while Ethereum was quoted at $1,675.


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 best Wall Street analyst upgrades, downgrades, and initiations seen on Wednesday June, 24, 2026. 

Upgrades:

  • Invitation Homes (NYSE: INVH | INVH Price Prediction) was upgraded to Overweight from Equal Weight at Wells Fargo, which nudged the target price for the shares to $33 from $31.
  • Macerich Company (NYSE: MAC) was upgraded to Buy from Neutral at Citigroup, which bumped the target price to $28 from $24.
  • Nucor (NYSE: NUE) was raised to Overweight from Sector Weight at KeyBanc, with a $274 target price.
  • Varonis Systems (NASDAQ: VRNS) was upgraded to Overweight from Equal Weight at Stephens, which lifted the target price for the stock to $45 from $33.

Downgrades:

  • Apogee Therapeutics (NASDAQ: APGE) was downgraded to Neutral from Outperform at Mizuho, with a $135 target, up from $110. AbbVie is buying the company at that level.
  • Flowserve (NYSE: FLS) was downgraded to Hold from Buy at TD Cowen, which has a $70 target price for the shares.
  • Nuvalent (NASDAQ: NUVL) was cut to Market Perform from Outperform at Bernstein, which slashed the target price for the stock to $124 from $172.
  • Principal Financial Group (NYSE: PFG) was cut to Underperform from Neutral at Bank of America, which trimmed the target price for the shares to $95 from $98.
  • V2X (NYSE: VVX) was downgraded to Market Perform from Outperform at Raymond James, without a price target.

Initiations:

  • Devon Energy (NYSE: DVN) was reinstated at Goldman Sachs with a Buy rating and a $54 target price.
  • Klaviyo (NYSE: KVYO) was assumed with a Buy rating at Goldman Sachs, with a $26 target price.
  • Merck & Co (NYSE: MRK) was initiated with an Outperform rating at CICC, with a $138 target price.
  • Take-Two Interactive Software (NASDAQ: TTWO) was initiated with a Buy rating at BTIG, which has a $290 target price for the company.
  • Twilio (NYSE: TWLO) was started with a Buy rating at Goldman Sachs, which has set a $300 target price for the stock. 

Contact [email protected] for any questions or corrections.

Lee Jackson

Lee Jackson has covered Wall Street analysts' equity and debt research and equity strategy daily for 24/7 Wall St. since 2012. His broad, diverse career, including a stint as creative services director at an NBC affiliate in Austin, Texas, gives him unique insight into the financial industry.

Lee Jackson's journey in the financial industry spans more than 30 years, including nearly two decades as an institutional equity salesperson at Bear Stearns, Lehman Brothers, and Morgan Stanley. His career spanned pivotal sell-side Wall Street events, from the dot-com rise and bubble to the Long-Term Capital Management debacle, 9/11, and the Great Recession of 2008. This reflects his resilience and adaptability amid market volatility.

Lee Jackson’s practical financial industry experience, gained through a career at some of the biggest banks and brokerage firms, is complemented by a lifetime of writing across various platforms. This unique combination allows him to shed light on the intricacies of Wall Street in a way only someone with deep insider experience and knowledge can. Moreover, his extensive network across Wall Street continues to provide direct access for him and 24/7 Wall St., a privilege few firms enjoy.

Since 2012, Jackson’s work for 24/7 Wall St. has been featured in Barron’s, Yahoo Finance, MarketWatch, Business Insider, TradingView, Real Money, The Street, Seeking Alpha, Benzinga, and other media outlets. He attended the prestigious Cranbrook Schools in Bloomfield Hills, Michigan, and has a degree in broadcasting from the Specs Howard School of Media Arts.

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