These reports, excerpted and edited by Barron's, were issued recently by investment and research firms. The reports are a sampling of analysts' thinking; they should not be considered the views or recommendations of Barron's. Some of the reports' issuers have provided, or hope to provide, investment-banking or other services to the companies being analyzed.

Oracle -- ORCL-NYSE Outperform -- $149.40 on March 11 by Oppenheimer Oracle remains a rare software name showing business acceleration, robust cloud-infrastructure growth, and durable 20%-plus top- and bottom-line growth.

In our view, Oracle's business should be more resilient than other software names facing artificial-intelligence disintermediation from vertically integrated customer entrenchment, and providing the compute for AI. And fiscal third-quarter results show good progress to a more capital intensive business.

Target price: $210.

Infinity Natural Resources -- INR-NYSE Buy -- $17.60 on March 11 by Siebert Williams Shank After the market close yesterday, Infinity Natural Resources reported stellar fourth-quarter 2025 results with discretionary cash flow per share, Ebitda, and free cash flow exceeding expectations, driven by higher total production across all products, stronger realized pricing, and a lower-than-expected overall operating cost structure, while keeping capital expenditure in check....In spite of those results, we believe that the higher-than-expected capex guidance may weigh on shares. That said, we project 2026 as roughly free-cash-flow neutral at both our price deck and strip prices. The long-term thesis remains intact, and Infinity has the most positive rate of change on FCF growth with a more attractive relative valuation on enterprise value/Ebitda and net asset value. Accordingly, we maintain our Buy rating.

Target price: $22.

CarMax -- KMX-NYSE Neutral -- $42.14 on March 11 by Mizuho According to Bloomberg, Starboard Value has assembled a $350 million equity stake in CarMax, representing close to 6% of the company's market cap. We're not surprised at all by this move, after commenting back in November that an activist could show up in shares following the departure of former CEO Bill Nash. Starboard is supposedly 1) backing new CEO Keith Barr, who hasn't yet joined the company and steps into the role effective on Monday, and 2) nominating two new board members including founder Jeff Smith. In our view, CarMax very much lost its way under prior management and ceded its leading position in the used-vehicle space as a result of poor strategic direction. Shares are more than 70% below all-time highs reached in late 2021 (versus S&P 500 up 44%). There's plenty of room for improvement. Fixing CarMax is very possible and a worthwhile exercise. We're monitoring the situation.

Target price: $36.

Steel Dynamics -- STLD-Nasdaq Buy -- $182.19 on March 10 by Seaport Research Partners Heading into Steel Dynamics' first-quarter 2026 guidance, likely next week, we revise our estimate marginally higher for the quarter, accounting for updated steel price trends, which were a positive impact, partly offset by lower downstream profitability due to substrate costs. We set our first-quarter 2026 earnings-per-share estimate at $3.40 (+$0.02) relative to the consensus of $3.24. Improved steel prices, metal spreads, and seasonally stronger volumes, along with fixed-cost leverage, should all contribute to improved group earnings quarter over quarter for Steel Dynamics.

We maintain our Buy rating and $195 target price.

Synchrony Financial -- SYF-NYSE Outperform -- $67.12 on March 10 by Evercore ISI $Synchrony Financial(SYF-B)$'s credit is intact, and its trajectory is slightly better than expected, but the pace of improvement continues to moderate. Synchrony's 30-plus day delinquencies were flat Y/Y in February versus minus 10 basis points Y/Y in January. The slowing is minimal, yet consistent since November. Given broader normalization in credit trends across the cards, we expect today's data to be mostly consistent with investor expectations. However, we note that card loan growth did screen slightly weaker than our forecast, probably due to higher payment rate related to tax refunds.

Target price/base case: $88.

Rivian Automotive -- RIVN-Nasdaq Buy -- $16.54 on March 11 by Benchmark Equity Research Rivian Automotive will soon unveil full pricing and configuration details for its R2 midsize sport-utility vehicle, a significant milestone ahead of the company's first mass-market product launch.

We expect the event to focus on pricing architecture, initial trims, and launch sequencing rather than new product reveals. R2 is positioned as a direct competitor to the Tesla Model Y, targeting a segment with limited differentiated electric-vehicle options that combine utility, performance, and brand appeal. Initial R2 pricing is likely to come in above the widely cited $45,000 target, given a simplified launch configuration centered on dual motor all-wheel drive, with a clearly articulated road map to about $45,000 single motor entry over time.

Rivian has emphasized configuration simplicity and a controlled ramp to accelerate quality, reduce complexity, and build early momentum.

We view the event as an important demand signal and proof point for manufacturing execution and maintain our Buy rating and $25 price target.

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March 13, 2026 20:44 ET (00:44 GMT)

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