Market Updates: Key Downgrades, Upgrades, and Shifting Sentiment

Amazon (NASDAQ: AMZN) Downgraded by Raymond James

• What Happened? Raymond James downgraded Amazon to Outperform with a $195 price target due to concerns over rising EBIT risks and macro uncertainties, particularly from its expansion in supply chain and logistics.

• Key Points:

  • The firm believes Amazon’s AI ambitions may be underperforming in terms of monetization.

  • The downgrade suggests a shift to companies with clearer returns like Meta (META), Uber (UBER), and MercadoLibre (MELI).

Verra Mobility (NASDAQ: VRRM) Upgraded by Baird

• What Happened? Baird upgraded Verra Mobility to Outperform with a $27 price target due to its resilient business model in commercial, government, and parking segments.

• Key Points:

  • Macro tailwinds, such as lower interest rates and favorable FX trends, support Verra’s growth.

  • Despite some concerns over leverage and headwinds in travel, the company’s competitive position and stable growth outlook make it a strong pick.

Cava Group (NYSE: CAVA) Upgraded by Bernstein SocGen

• What Happened? Cava received an Outperform upgrade with a $115 price target after its 30% YTD pullback was seen as a mispricing.

• Key Points:

  • Cava’s fundamentals remain strong, with impressive margins and the potential for unit expansion.

  • The firm sees Cava benefiting from its high-income consumer base and resilient growth trajectory, even amid broader market uncertainty.

Utz Brands (NYSE: UTZ) Upgraded by DA Davidson

• What Happened? DA Davidson upgraded Utz Brands to Buy with a $68 price target, citing strong momentum and undervaluation.

• Key Points:

  • The company’s share in salty snacks has firmed up, and its supply chain transformation is delivering strong results.

  • UTZ’s valuation gap compared to peers presents a rare opportunity for upside.

Philip Morris International (NYSE: PM) Upgraded by UBS

• What Happened? UBS upgraded Philip Morris to Neutral with a $170 price target, following strong 1Q25 performance and raised FY25 EPS guidance.

• Key Points:

  • The upgrade reflects confidence in PMI’s momentum, robust margins from its Smoke-Free product lines, and FX benefits.

  • The company’s ability to generate high single-digit EPS growth in a challenging macro environment justifies the positive outlook.

Investors can monitor updated analyst sentiment via the Price Target Summary API, which reflects changing expectations in real-time.