Here Are Thursday’s Top Wall Street Analyst Research Calls: Alcoa, Block, Constellation Energy, Dick’s Sporting Goods, Dutch Bros, Halliburton Company, Netflix, Southern Company,Tesla, and More
Wall Street analysts are reshuffling their bets on Tesla, Netflix, and Dutch Bros while SpaceX's blowout earnings send futures sliding ahead of the open. Find out which names got upgraded, downgraded, or initiated before the market moves on Thursday.
Pre-Market Stock Futures:
Futures are lower after a huge mid-week follow-through rally fueled by spectacular earnings and forward guidance from Space Exploration and Technologies (NASDAQ: SPCX | SPCX Price Prediction). Elon Musk’s crown jewel beat both top- and bottom-line consensus estimates, driven by exponential growth in its artificial intelligence compute division and the aggressive scaling of Starlink. At the close on Wednesday, all major indices finished higher, and, as expected, the tech-heavy Nasdaq led the way, closing at 26,702 up 01.05%, while the S&P 500, also loaded with tech names, closed at 7,757 up 0.58%. The Dow Jones Industrial finished the session at 52,856 up 0.69%, while the small-cap Russell 2000 closed at 2,781 up 0.27%. Expect another slew of tech earnings today, with Spotify Technologies (NYSE: SPOT) before the open and Western Digital (NASDAQ: WDC) after the close.
Treasury Bonds:
Yields were mixed across the Treasury curve yesterday, with buyers buying some of the shortest maturities and sellers taking profits from the one-year T-bill through the belly and out to the long end. By the closing bell, Treasury debt ended mostly flat, with the 30-year long bond at 5.41% and the benchmark 10-year note at 5.12%. Yields are comfortably below the multi-year highs hit just a few weeks ago.
Oil and Gas:
Pricing along the energy complex was mostly higher on Wednesday, after Iran sent a belligerent message that the Strait of Hormuz will remain closed unless Washington, D.C. accepts Iranian-specific conditions. Under international law, the Strait of Hormuz is an international waterway and cannot be closed. While traffic has slowed, ships are still passing, albeit much more slowly. Brent Crude closed the day at $109.90, up 1.04%, while West Texas Intermediate rose 0.09% to $97.91. Natural Gas had another tough session, down 6.41% to $2.78. Traders cited unseasonably warm autumn weather forecasts that have crushed near-term heating demand.
Gold:
Gold was modestly higher on Wednesday after morning selling gave way to buyers after noon as yields stabilized. Many traders are playing it safe ahead of the Federal Reserve’s meeting next week, where the prevailing view is that it will hold rates steady for another month and look for the October inflation data in November. Gold closed the session at $4,132, up 0.20%, while Silver was last seen at $57.97, down 0.28%.
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 top Wall Street analyst upgrades, downgrades, and initiations from Thursday, October 22, 2026.
Upgrades:
- Block (NYSE: XYZ) was upgraded to Outperform from Market Perform at BMO Capital, which raised the target price for the shares to $100 from $85.
- Halliburton Company (NYSE: HAL) was upgraded to Buy from Hold at Freedom Broker, which nudged the target price for the oil services giant to $40 from $37.
- MGM Resorts International (NYSE: MGM) was raised to Buy from Hold at CBRE, with a $42 target price.
- Omega Healthcare Investors (NYSE: OHI) was upgraded to Outperform from Market Perform at Citizens, with a $52 target price.
- Tesla (NASDAQ: TSLA) was upgraded to Hold from Underperform at CLSA, with a $400 target price.
Downgrades:
- Alcoa (NYSE: AA) was downgraded to Hold from Buy at Argus, without a target price.
- Builders First Source (NASDAQ: BLDR) was downgraded to Market Perform from Outperform at William Blair, without a target price.
- Dutch Bros (NYSE: BROS) was downgraded to Sector Perform from Outperform at RBC Capital, which cut the target price to $46 from $70.
- Netflix (NASDAQ: NFLX) was downgraded to Peer Perform from Outperform at Wolfe Research, with no target price for the stock.
- QIAGEN (NASDAQ: QGEN) was downgraded to Neutral from Outperform at JPMorgan, with a $52 target.
Initiations:
- Constellation Energy Corporation (NYSE: CEG) was initiated with a Buy rating at HSBC, with a $335 target price.
- Dick’s Sporting Goods (NYSE: DKS) was initiated with an Outperform rating at Wolfe Research, with a $181 target price.
- Lululemon Athletica (NASDAQ: LULU) was started with an Underperform rating at Wolfe Research, with a $75 target.
- Southern Company (NYSE: SO) was started with a Buy rating at HSBC, with a $99.50 target price.
- Vistra (NYSE: VST) was initiated with a Buy rating at HSBC, with a $190 target price.
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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.
