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Here Are Tuesday’s Top Wall Street Analyst Research Calls: AutoZone, Baker Hughes, FS KKR Capital, Kroger, Netflix, PepsiCo, Ryder Systems, SpaceX, Warner Bros. Discovery, and More

Markets opened Tuesday on edge as surging oil prices, climbing Treasury yields, and a rejected Iran ceasefire rattled traders heading into the final stretch of Q3. Find out which major names on Wall Street got upgraded, downgraded, or freshly initiated…

By Lee Jackson
Published September 29, 2026, 8:19am ET · 4 min read

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Pre-Market Stock Futures:

Futures are trading modestly higher after a rough start to the third quarter’s last trading week. The song remains the same: rising interest rates and oil prices once again drew in sellers. With portfolio managers making last-second third-quarter window-dressing adjustments and hedge funds squaring up their long and short books, the last two trading days could be volatile. By the close, all major indices finished lower, with the Nasdaq down the most, closing at 26,820, down 1.08%, while the S&P 500 closed at 7,683, down 0.77%. The Dow Jones Industrials closed at 51,481, down 0.67%, while the small-cap Russell 2000 closed at 2,818, also down 0.67%. The final straw that broke the camel’s back Monday was President Trump’s decision to reject Iran’s seven-day ceasefire proposal. While the President said he expects to resume the bombing after the midterms, Axios reported they were told that talks with Iran will continue to proceed.

Treasury Bonds:

Once again, Treasury yields moved higher across the curve, except for the shortest T-bill maturities, as oil pricing continues to drive inflation concerns and worries about how many more rate hikes could be coming. The 30-year bond closed at 5.55%, while the benchmark 10-year note closed at 5.23%.

Oil and Gas:

The lack of a cease-fire with Iran and the threat of continued bombing were all it took for oil prices to surge again on Monday, though off the session highs. By the close, Brent Crude ended the day at $105.80, up 1.39%, while West Texas Intermediate ended the day at $92.95, up 0.58%. Natural gas closed trading at 3.15, down 2.39%. 

Gold:

Gold closed at a 7-week low on Monday at $4,121, down a whopping 3.79%, with the same issues pressuring the bullion. Rising oil prices, climbing yields, and a stronger dollar all contributed to the selling. Silver closed at $60.63, down 5.51%, adding to Monday’s precious-metals debacle. 

Crypto:

The cryptocurrency market pulled back on Monday as the total crypto market capitalization dropped roughly 1.7% to 2%. Bitcoin slid below the $84,000 threshold to trade around $83,514, down nearly 2% in 24 hours. Ethereum was last seen lower at $2,669. The same issues that plagued other assets hit all of the digital currencies. At 8 AM EDT, Bitcoin was quoted at $84,440, while Ethereum was trading at $2,735.


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 Tuesday, September 29, 2026.  

Upgrades:

  • Bloomin’ Brands (NASDAQ: BLMN) was upgraded to Neutral from Underweight at JPMorgan, which raised the target price for the stock to $13 from $6.
  • Kroger Company (NYSE: KR | KR Price Prediction) was upgraded to Buy from Hold at Melius Research, with an $80 target price.
  • Main Street Capital Corporation (NYSE: MAIN) was upgraded to Overweight from Equal Weight at Wells Fargo, which bumped the target price to $60 from $55.
  • Netflix (NASDAQ: NFLX) was upgraded to Buy from Hold at Deutsche Bank with a $95 target price, down from $100.
  • STARR Surgical  Company (NASDAQ: STAA) was raised to Buy from Hold at Stifel, which nudged the target price to $31 from $28.

Downgrades:

  • Arbor Realty Trust (NYSE: ABR) was cut to Market Perform from Outperform at Citizens, without a target price.
  • FS KKR Capital (NYSE: FSK) was downgraded to Underweight from Equal Weight at Wells Fargo, with a $10 target price.
  • PepsiCo (NYSE: PEP) was downgraded to Neutral from Overweight at JPMorgan, which has a $138 target for the consumer staples giant.
  • Ryder System (NYSE: R) was downgraded to Neutral from Outperform at Baird, which cut the target price to $245 from $290.
  • Warner Bros. Discovery (NYSE: WBD) was cut to Sell from Hold at Argus, without a target price.

Initiations:

  • AutoZone (NYSE: AZO) was initiated with a Buy rating at Bernstein, with a $3,698 target price for the auto parts giant.
  • Baker Hughes (NYSE: BKR) was reinstated with a Buy rating at Goldman Sachs, with a $71 target price.
  • Space Exploration Technologies (NASDAQ: SPCX) was initiated with a Buy rating at TD Cowen, with a $200 target price. 
  • SPX Technologies (NASDAQ: SPXC) was initiated with a Buy rating at Vertical Research, which has set a $215 target price.
  • Xanadu Quantum Technologies (NASDAQ: XNDU) was started with an Outperform rating at RBC Capital, with a $16 target price.

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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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