Erste downgrades Broadcom, Stifel upgrades Shopify among week's notable analyst calls

Analyst
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Summary · why it matters

Erste Group downgraded Broadcom to Hold from Buy on valuation concerns, while Stifel upgraded Shopify to Buy from Hold citing growth outlook and agentic commerce opportunity. KeyBanc downgraded Salesforce to Sector Weight, finding little evidence of momentum for Agentforce. Bernstein downgraded Datadog to Market Perform ahead of quarterly results. Wells Fargo upgraded Seagate to Overweight and raised price targets for both Seagate and Western Digital. Morgan Stanley initiated coverage of SpaceX with an Overweight rating and a $300 price target, while Goldman Sachs started with a Buy and a $205 target. Evercore ISI raised its Dell Technologies price target to $500 on AI prospects, and Citizens initiated Tesla with a Market Perform rating, noting near-term AI expectations appear ahead of reality.

Impact on stocks 9

Cloud & Digital Infrastructure± Mixed · 4 stocks
Datadog Inc
DDOG
▼ NegativeCapitalrelevance

Bernstein downgraded Datadog to Market Perform ahead of quarterly results.

Shopify Inc
SHOP
▲ PositiveCapitalrelevance

Stifel upgraded Shopify to Buy from Hold citing growth outlook and agentic commerce opportunity.

Artificial Intelligence± Mixed · 3 stocks
Broadcom Inc
AVGO
▼ NegativeCapitalrelevance

Erste Group downgraded Broadcom to Hold from Buy on valuation concerns.

Salesforce.com Inc
CRM
▼ NegativeCapitalrelevance

KeyBanc downgraded Salesforce to Sector Weight, citing little evidence of momentum for Agentforce.

Space Economy▲ · 1 stocks
Electrification & Mobility▼ · 1 stocks
Tesla Inc
TSLA
▼ NegativeCapitalrelevance

Citizens initiated Tesla with a Market Perform rating, noting near-term AI expectations appear ahead of reality.

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