Jefferies has maintained its underperform rating on Apple, anticipating that while the company may exceed consensus revenue and earnings expectations for the fourth quarter of fiscal year 2026 due to strong iPhone sales, it is likely to miss expectations in the December quarter due to weaker demand for the iPhone 18 and rising memory prices impacting gross margins.
In contrast, Jefferies upgraded CACI to a buy rating, citing its strong defense technology portfolio and consistent organic growth.
Bank of America initiated coverage of Installed Building Products with a buy rating and a price target of $225, indicating a 14% upside potential, while Goldman Sachs initiated coverage of Accelevation with a buy rating and a $22 price target, reflecting optimism about the data center supplier's prospects.
Morgan Stanley upgraded Lockheed Martin to overweight, viewing its recent agreement to supply F-35 aircraft as a significant derisking event. Bernstein raised its price target for SpaceX to $268, driven by expectations surrounding terrestrial AI initiatives.
Other notable calls include Barclays upgrading Tesla to overweight, citing an improved business outlook and potential merger opportunities, and UBS upgrading Ross Stores to buy, anticipating meaningful earnings revisions. Conversely, Morgan Stanley downgraded Block to equal weight due to rising competition and lower earnings expectations.
Overall, these analyst calls suggest a mixed outlook for various companies, with some poised for growth while others face challenges