Wall Street's most closely monitored research ratings reports, which could influence market trends, have been summarized as follows. Here are the key rating changes that investors should pay attention to today, compiled by The Fly.

Top Five Upgrades

UBS: Upgraded Deere Company (DE) from "Neutral" to "Buy," with a target price adjusted from $545 to $535. The firm anticipates that 2026 will be the last year of profit decline for Deere, with a rebound expected in 2027. KeyBanc Capital: After attending AppFolio's (APP) annual "Future" user conference, upgraded its rating from "Sector Weight" to "Overweight," setting a target price of $285. The firm reassured investors that engagement with clients reflects growth momentum in user additions and business expansion for AppFolio's "Plus" and "Max" products. HSBC: Raised Freeport-McMoRan (FCX) from "Hold" to "Buy," increasing the target price from $43 to $50. The firm noted that precious metal prices are reaching "historic highs in decades," with copper outperforming other base and commodity metals due to supply disruptions. Stifel: Upgraded International Paper (IP) from "Hold" to "Buy," keeping the target price unchanged at $57.80. The firm indicated that after Andy Silvernail was appointed CEO, the initially overly optimistic valuations of the stock have been replaced by more pragmatic expectations. Baird: Raised Zions Bancorp (ZION) from "Neutral" to "Outperform," with a target price held steady at $65. The firm advised investors to seize the current pullback opportunity in the stock.

Top Five Downgrades

TD Cowen: Downgraded Booz Allen (BAH) from "Buy" to "Hold," with the target price reduced from $125 to $105. The firm expects Booz Allen to lower its earnings guidance for the fiscal year 2026 when it announces its September quarter financial results. Barclays: Significantly downgraded AST SpaceMobile (ASTS) from "Overweight" to "Underweight," maintaining a target price of $60. The firm informed investors that, despite the "direct-to-cellular" space being a "highly attractive opportunity" with key assets for success, the stock is currently "overvalued." Raymond James: Downgraded Bank OZK (OZK) from "Outperform" to "Market Perform," without assigning a target price. The firm stated that due to slowing loan growth expectations, rising costs, and declining net interest income, they have cut their EPS expectations for the company next year by approximately 12% in conjunction with the third quarter results and 2026 preliminary guidance. Raymond James: Downgraded Graphic Packaging (GPK) from "Outperform" to "Market Perform," without providing a target price. The firm noted that given the stock's recent underperformance, the downgrade's differentiated significance is limited, as sentiment surrounding Graphic Packaging has deteriorated. Raymond James: Downgraded Silgan Holdings (SLGN) from "Strong Buy" to "Outperform," lowering the target price from $60 to $53. While maintaining a positive outlook on Silgan and believing the company's strategy towards high-value "Dispensing products" hasn't been fully recognized, the firm is adopting a more cautious approach due to lingering concerns from a few items impacting share price in the second quarter.

Top Five Initiations

UBS: Initiated coverage on Planet Fitness (PLNT) with a "Buy" rating and a target price of $125. The firm stated that structural shifts in consumer behavior are driving health and wellness into priority, especially among Gen Z. Wells Fargo: Initiated coverage on Cracker Barrel (CBRL) with an "Equal Weight" rating and a target price of $42. The firm noted that the company's fundamentals have "deteriorated" due to consumer resistance to business adjustments. Baird: Initiated coverage on Kontoor Brands (KTB) with an "Outperform" rating and a target price of $105. The firm believes that by acquiring the Helly Hansen brand, Kontoor has transitioned from "stable dividend yield" to "growth above industry average, high-margin" assets, although this transformation value has yet to be fully recognized by the market. Jefferies: Initiated coverage on Primo Brands (PRMB) with a "Hold" rating and a target price of $23. The firm expressed that while Primo has solid long-term fundamentals, the complexity of business integration poses uncertainties for its short-term outlook. Morgan Stanley: Initiated coverage on Option Care Health (OPCH) with an "Overweight" rating and a target price of $35. The firm stated that with rising chronic disease prevalence and increasing market interest in low-cost medical centers, Option Care Health is well-positioned for advantageous growth.