Apple upgraded, Workday downgraded: Wall Street's top analyst calls

Apple upgraded, Workday downgraded: Wall Street's top analyst calls

Mon, August 17, 2026 at 4:36 PM GMT+3 3 min read

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.

Top 5 Upgrades:

• Rothschild & Co Redburn upgraded Apple (AAPL) to Buy from Neutral with a price target of $400, up from $260. The firm sees iPhone sales growing at 12% annually, or up to 14% above consensus expectations, through fiscal 2030, led by Apple's entry into the premium foldable market with the launch of the iPhone Ultra.

• Wells Fargo upgraded Okta (OKTA) to Overweight from Equal Weight with a price target of $180, up from $150. The firm says its field work increases conviction in the company's base case of durable low-teens growth.

• Northland upgraded Astera Labs (ALAB) to Outperform from Market Perform with a $350 price target. Astera Labs is positioned for further earnings upside as the AI infrastructure spending cycle extends, with rising content per rack and growing share opportunities in scale-up and scale-out switching fabrics, the firm tells investors in a research note.

• Berenberg upgraded Mobileye (MBLY) to Buy from Hold with a price target of $11, up from $10.80. The company reported strong Q2 results, but the stock "overcorrected" due to the resignation of co-founder and CEO Professor Amnon Shashua, the firm tells investors in a research note.

• Freedom Broker upgraded Cisco (CSCO) to Buy from Hold with a price target of $130, up from $125. The firm says the company's fiscal Q4 "was a record quarter on every measure."

Top 5 Downgrades:

• Deutsche Bank downgraded Workday (WDAY) to Hold from Buy with a price target of $220, up from $180. Deutsche sees a balanced risk/reward with the shares up 26% from June 1 through August 14. BTIG also downgraded Workday to Neutral from Buy without a price target.

• Deutsche Bank downgraded SentinelOne (S) to Hold from Buy with a price target of $24, up from $17. The firm cites valuation for the downgrade following the stock's 90% rally from the April lows. Deutsche Bank also downgraded Netskope (NTSK) to Hold from Buy with a price target of $17, up from $16.

• Seaport Research downgraded JetBlue (JBLU) to Neutral from Buy without a price target. The firm says that as the Iran ceasefire ends, JetBlue's risk rises.

• JPMorgan downgraded York Space Systems (YSS) to Neutral from Overweight with a price target of $17, down from $38. The shares underperformed by only five points Friday despite lowering 2026 sales guide by 32%, "suggesting the stock is washed out for now," the firm tells investors in a research note.

• JPMorgan downgraded Amcor (AMCR) to Neutral from Overweight with a price target of $47, up from $44. The company's EBITDA growth is slowed by its divestiture agenda, the firm tells investors in a research note.

Top 5 Initiations:

• Goldman Sachs reinstated coverage of Etsy (ETSY) with a Neutral rating and $89 price target. The firm views Etsy as a "work in progress" given its strategic initiatives.

• Goldman Sachs initiated coverage of Onto Innovation (ONTO) with a Buy rating and $400 price target, which offers 19% upside. The firm says AI demand is driving "idiosyncratic growth" in inspection and metrology, creating a "compelling" risk/reward for Onto shares.

• Piper Sandler initiated coverage of SoFi Technologies (SOFI) with an Overweight rating and $22 price target. Piper views SoFi as a "high-growth personal finance story."

• Piper Sandler initiated coverage of Dave (DAVE) with an Overweight rating and $390 price target. Piper says the company's ExtraCash provides cash advances to customers and is underwritten through CashAI, its AI-powered underwriting system.

• BTIG initiated coverage of ADT Inc. (ADT) with a Neutral rating and no price target. The firm thinks the stock's current valuation creates a fairly balanced risk/reward.