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, 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.