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Here Are Friday’s Top Wall Street Analyst Research Calls: Barrick Mining, Brinker International, Constellation Energy, Equifax, Fox Corporation, JPMorgan Chase, Klaviyo, Toll Brothers, Workday, and More

Bonds staged one of their biggest single-day rallies in years while crypto suffered a brutal $1 billion liquidation wave, and Wall Street analysts responded with a fresh round of double upgrades and surprise downgrades across banking, broadcasting, and beyond.

By Lee Jackson
Published October 16, 2026, 7:55am ET · 4 min read

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A black street sign for 'WALL ST' with address numbers '11-21' and an arrow pointing right, is mounted on a weathered grey pole. Below it, another black sign for 'BROAD ST' with numbers '1-267' is visible. In the blurred background, an American flag with white stars on a blue field and red and white stripes is visible, along with tall, light-colored buildings.
The iconic intersection of Wall Street and Broad Street in New York City, a global center for finance, reflects the ongoing market's assessment of major institutions like Wells Fargo. © robertcicchetti / Getty Images

Pre-Market Stock Futures:

Futures are mixed as we close out the first big week of third-quarter results, with some indices heading toward a losing week. Thursday’s stunning reversal in the debt markets, as semiconductor and other tech stocks got slaughtered, was truly memorable. Short covering and a flight to safety fueled one of the biggest one-day bond rallies in years.

At the close, all major indices finished higher, with the small-cap Russell 2000 leading at 2,767, up 1.38%; the Dow Jones Industrials were right behind at 52,178, up 1.08%. The S&P 500 was last seen at 7.744 up 0.33%, while the Nasdaq, which was down big at one point during the day, finished positive, up 0.08% at 26,713. Coincidentally, BTIG reported that the S&P 500’s streak of consecutive days without a decline of at least 1% ended Wednesday at 53. It was the longest since 2020.

Treasury Bonds:

A week can make a difference: with demand for safe-haven trades and massive futures short covering, bonds had one of their biggest days in some time. The 30-year bond finished the session with one of the biggest yield drops since November 2024, closing at 5.43% (down 9 basis points), while the benchmark 10-year note posted the largest one-day rally and yield decline since August 1, 2025, and last traded at 5.09% (down 10 basis points).

Oil and Gas:

Prices were mixed across the energy complex, but the big news was a massive Ukraine strike on a major Russian oil refinery, which once again put a damper on the oil ceasefire. By the close, Brent Crude fell 0.25% to $105.80, while West Texas Intermediate jumped back toward $100, finishing at $97.58, up 2.62%. Natural gas had another solid day, closing at $3.24, up 1.16%.

Gold:

Precious metals had a banner day as interest rates tumbled and the big tech sell-off pushed investors toward bullion’s safe-haven appeal. Gold closed the session at $4.168, up 1.56%, while Silver ended the day at $57.27, up 3.16%. 

Crypto:

Crypto got absolutely slammed Thursday, triggering a brutal $1 billion liquidation wave as forced selling crushed leveraged traders. This wasn’t a crypto problem; it was literally a macro bloodbath. A massive AI tech rout and hotter-than-expected PPI data spooked investors, sparking panic selling in high-risk assets. At 8 AM EDT, Bitcoin was trading at $82,587, while Ethereum was quoted at $2,475.


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 Friday, October 16, 2026. 

 

Upgrades:

  • Brinker International (NYSE: EAT) was raised to Strong Buy from Outperform at Raymond James, which trimmed the price target for the restaurant giant to $260 from $270.
  • EchoStar (NASDAQ: ECHO) caught a double upgrade to Overweight from Underweight at JPMorgan, with a $144 target price.
  • Fox Corporation (NYSE: FOX | FOX Price Prediction) also received a double upgrade at Bank of America, which raised the broadcaster to Buy from Underperform, and raised the target price to $85 from $54.
  • JPMorgan Chase & Company (NYSE: JPM) was upgraded to Buy from Hold at Freedom Broker, which bumped the target price for the banking giant to $370 from $365.
  • Semtech (NASDAQ: SMTC) was upgraded to Outperform from Neutral at Northland, with a $186 target price.

Downgrades:

  • Barrick Mining (NYSE: B) was downgraded to Neutral from Outperform at CIBC, which has a $49 target price for the shares.
  • Eastman Chemical Company (NYSE: EMN) was downgraded to Neutral from Overweight at JPMorgan, which cut the price target to $66 from $82.
  • Equifax (NYSE: EFX) was cut to Perform from Outperform at Oppenheimer, without a price target.
  • Klaviyo (NASDAQ: KVYO) was downgraded to Neutral from Buy at Goldman Sachs, which trimmed the price target for the stock to $20 from $27.
  • Workday (NASDAQ: WDAY) was downgraded to Sector Weight from Overweight at KeyBanc, without a target price.

Initiations:

  • Constellation Energy Corporation (NYSE: CEG) was initiated with an Outperform rating at CIBC, which has set a $358 target price for the giant utility.
  • The Gap (NYSE: GAP) was initiated with a Hold rating at Needham, without a price target.
  • Toll Brothers (NYSE: TOL) was initiated with a Buy rating at StoneX, which has a $165 target price for the luxury home builder. 
  • Urban Outfitters (NASDAQ: URBN) was started with a Buy rating at Needham, with a $100 target price.
  • Victoria’s Secret (NYSE: VSXY) was initiated with a Buy rating at Needham, with a $106 price target.

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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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