Here Are Thursday’s Best Wall Street Analyst Research Calls: Brown-Forman, CoreWeave, Intel, JFrog, Keurig Dr. Pepper, Klarna Group, Qualcomm, Shift 4 Payments, and More

Pre-Market Stock Futures:

Futures are trading higher this morning, after all the big funds and portfolio managers may have shown their hands on Wednesday, as the tech and chip stocks sell-off resumed after stocks started higher in the morning but faded in the afternoon. The tech sell-off came before Micron Technology (NASDAQ: MU | MU Price Prediction) posted huge numbers after the close, and the stock was trading up almost 15% in the after-hours market. When the dust settled yesterday, the Nasdaq closed down 0.43% at 25,476, and the S&P 500 finished the day down just 0.10% at 7,358. The Dow Jones Industrials finished at 51,848, up 0.35%, while the small-cap Russell 2000 closed at 2,986, up 0,37%. The Micron print could be a huge litmus test for semiconductor stocks and the technology sector as a whole, as many on Wall Street remain very concerned about the massive spending on AI and Data Center initiatives.

Treasury Bonds:

It was another strong day for the U.S. government bond market, as buyers jumped in despite Bank of America’s prediction that the Federal Reserve will raise rates three times in the second half of 2026. Traders cited the big drop in crude oil price, which hit levels not seen since before the Iran war, easing global inflation fears. When the closing bell rang, the 30-year-long bond finished the day at 4.84%, down almost 10 basis points, while the benchmark 10-year note closed at 4.39%. Those yields compare with 5.20% and 4.69%, respectively, on the two, just over a month ago. 

Oil and Gas:

On Wednesday, oil prices hit their lowest level since February 27, as U.S.-Iran peace talks progressed and tanker traffic resumed through the Strait of Hormuz, with over 35 million barrels finally on their way to final destinations. Brent Crude closed the session at $73.25, down 4.97%, while West Texas Intermediate finished the day at $70.34, down 3.92%. Natural gas, increasingly seen as an alternative to meet the massive power needs of data centers, was last seen at $3.22, up 2.35%. 

Gold:

The precious metals continued their decline on Wednesday, as Gold prices tumbled more than 3% and slipped below $ 4,000 per ounce, amid a surging U.S. dollar and rising expectations of Federal Reserve interest rate hikes this year. A more hawkish tilt in central bank policy, along with heavy selling across the tech sector, spurred many traders to unwind positions and move into cash. The last trade for Gold came in on Wednesday at $3,998, down 2.72%, while Silver ended the day at $57.30, down 6.77%. Those prices compare with $5,589 for Gold and $121 for Silver when both peaked back in January.

Crypto:

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 Thursday, June 25, 2026.  

Upgrades:

• ICON (NASDAQ: ICLR) was upgraded to Outperform from Sector Perform at RBC Capital, which raised the target price to $185 from $136.
• Keurig Dr. Pepper (NYSE: KDP) was upgraded to Overweight from Equal Weight at Barclays, which lifted the target price for the stock to $36 from $30.
• Primoris Services (NYSE: PRIM) was upgraded to Neutral from Sell at Goldman Sachs, which trimmed the price target for the stock to $102 from $107.
• Qualcomm (NASDAQ: QCOM) was raised to Equal Weight from Underweight at Morgan Stanley, which boosted the target price for the shares to $231 from $146.
• Xylem (NYSE: XYL) was raised to Buy from Hold at Jefferies, which bumped the target price for the shares to $140 from $130.

Downgrades:

• Affirm Holdings (NASDAQ: AFRM) was downgraded to Equal Weight from Overweight at Morgan Stanley, with an unchanged target price of $79.
• Apollo Commercial Real Estate Finance (NYSE: ARI) was cut to Neutral from Buy at BTIG, without a price target.
• Exelixis (NASDAQ: EXEL) was downgraded to Hold from Buy at Truist, which nudged the target price up to $54 from $51.
• Brown-Forman (NYSE: BF.B) was downgraded to Equal Weight from Overweight at Barclays, with an unchanged target price of $27.
• PVH (NYSE: PVH) was downgraded to Underperform from Neutral at Bank of America, which cut the target price for the stock to $70 from $90.

Initiations:

• CoreWeave (NASDAQ: CRWV) was initiated with a Buy rating at Rosenblatt, with a $250 target price.
• Intel (NASDAQ: INTC) was initiated with a Neutral rating at Goldman Sachs, which has a $150 target price for the legacy chip giant.
• JFrog (NASDAQ: FROG) was started with a Buy rating at Benchmark, with a $100 target price.
• Klarna Group (NYSE: KLAR) was initiated with a Buy rating at Freedom Capital, with a $25 target price.
• Shift4 Payments (NYSE: FOUR) was started with a Hold rating at Loop Capital, with a $40 target price objective.