Weekly recap

Wall Street analyst calls: Jan 12 – Jan 18, 2026

88 research notes from 23 Wall Street firms on 28 companies. 16 upgrades, 3 downgrades, 14 initiations, 49 price-target increases and 7 cuts.

16Upgrades3Downgrades14Initiations49Targets raised7Targets cut88All notes

Upgrades 16

MacquarieNIOBuyMacquarie · Upgraded · Jan 16 HK$47 CitiIntelHoldCiti · Upgraded, raised price target +72% · Jan 15 $50from $29 BarclaysApplied MaterialsBuyBarclays · Upgraded, raised price target +44% · Jan 15 $360from $250 Wells FargoAnalog DevicesBuyWells Fargo · Upgraded, raised price target +28% · Jan 15 $340from $265 Wells FargoKLABuyWells Fargo · Upgraded, raised price target +28% · Jan 15 $1,600from $1,250 Morgan StanleyKLABuyMorgan Stanley · Upgraded, raised price target +40% · Jan 15 $1,694from $1,214 Wells FargoLam ResearchBuyWells Fargo · Upgraded, raised price target +72% · Jan 15 $250from $145 Wells FargoBroadcomBuyWells Fargo · Upgraded, raised price target +5% · Jan 15 $430from $410 MacquarieNIOBuyMacquarie · Upgraded · Jan 15 $6.10 KeyBancIntelBuyKeyBanc · Upgraded · Jan 13 $60 KeyBancAMDBuyKeyBanc · Upgraded · Jan 13 $270 TD CowenKLABuyTD Cowen · Upgraded, raised price target +38% · Jan 13 $1,800from $1,300 KeyBancAMDBuyKeyBanc · Upgraded · Jan 13 $270 CitiPalantirBuyCiti · Upgraded, raised price target +12% · Jan 12 $235from $210 SusquehannaApplied MaterialsBuySusquehanna · Upgraded, raised price target +122% · Jan 12 $400from $180 Goldman SachsOracleBuyGoldman Sachs · Upgraded · Jan 12 $240

Downgrades 3

UBSRivianSellUBS · Downgraded, raised price target +15% · Jan 14 $15from $13 Bank of AmericaArmHoldBank of America · Downgraded · Jan 13 $120 Wolfe ResearchRivianSellWolfe Research · Downgraded · Jan 12 $16

New coverage 14

RBC CapitalIntelHoldRBC Capital · Initiated coverage · Jan 14 $50 RBC CapitalAMDHoldRBC Capital · Initiated coverage · Jan 14 $230 RBC CapitalApplied MaterialsBuyRBC Capital · Initiated coverage · Jan 14 $385 BernsteinKLABuyBernstein · Initiated coverage · Jan 14 $1,700 RBC CapitalKLAHoldRBC Capital · Initiated coverage · Jan 14 $1,550 RBC CapitalASMLBuyRBC Capital · Initiated coverage · Jan 14 $1,550 RBC CapitalMicronBuyRBC Capital · Initiated coverage · Jan 14 $425 RBC CapitalQualcommHoldRBC Capital · Initiated coverage · Jan 14 $180 RBC CapitalLam ResearchBuyRBC Capital · Initiated coverage · Jan 14 $260 RBC CapitalMarvellBuyRBC Capital · Initiated coverage · Jan 14 $105 RBC CapitalArmBuyRBC Capital · Initiated coverage · Jan 14 $140 RBC CapitalAMDHoldRBC Capital · Initiated coverage · Jan 14 $230 RBC CapitalBroadcomHoldRBC Capital · Initiated coverage · Jan 14 $370 Goldman SachsSuper Micro ComputerSellGoldman Sachs · Initiated coverage · Jan 13 $26from $34

Biggest price-target increases 49

SusquehannaApplied MaterialsBuySusquehanna · Upgraded, raised price target +122% · Jan 12 $400from $180 CitiIntelHoldCiti · Upgraded, raised price target +72% · Jan 15 $50from $29 Wells FargoLam ResearchBuyWells Fargo · Upgraded, raised price target +72% · Jan 15 $250from $145 BarclaysMicronBuyBarclays · Raised price target +64%, kept rating · Jan 16 $450from $275 StifelLam ResearchBuyStifel · Raised price target +56%, kept rating · Jan 14 $250from $160 BarclaysApplied MaterialsBuyBarclays · Upgraded, raised price target +44% · Jan 15 $360from $250 Morgan StanleyKLABuyMorgan Stanley · Upgraded, raised price target +40% · Jan 15 $1,694from $1,214 KeyBancMicronBuyKeyBanc · Raised price target +38%, kept rating · Jan 13 $450from $325

Biggest price-target cuts 7

RBC CapitalLucidHoldRBC Capital · Cut price target −30%, kept rating · Jan 14 $14from $20 Goldman SachsSuper Micro ComputerSellGoldman Sachs · Initiated coverage · Jan 13 $26from $34 MacquarieXPengBuyMacquarie · Cut price target −19%, kept rating · Jan 15 $26from $32 MacquarieBYDBuyMacquarie · Cut price target −10%, kept rating · Jan 16 RMB 110from RMB 122 TD CowenQualcommTD Cowen · Cut price target −7%, kept rating · Jan 16 $190from $205 CLSABYDBuyCLSA · Cut price target −6%, kept rating · Jan 14 RMB 131from RMB 140 Wells FargoMetaBuyWells Fargo · Cut price target −1%, kept rating · Jan 12 $795from $802

Most-covered companies

Analog Devices 9TSMC 7Intel 7Applied Materials 7KLA 7Micron 6Lam Research 6ASML 4AMD 4ON Semiconductor 3Qualcomm 2NIO 2

Most active firms

RBC Capital 14Wells Fargo 9TD Cowen 7Macquarie 7Barclays 7KeyBanc 6Stifel 5Citi 5Morgan Stanley 4Bernstein 4Goldman Sachs 3JP Morgan 2

All notes 88

  1. Barclays Raises Intel Price Target to $45
  2. Jefferies Raises Intel Price Target to $45
  3. TD Cowen Raises Intel Price Target to $50
  4. KeyBanc Raises Applied Materials Price Target to $380
  5. Barclays Raises Analog Devices Price Target to $315
  6. Stifel Raises Analog Devices Price Target to $330
  7. Oppenheimer Raises Analog Devices Price Target to $350
  8. TD Cowen Raises Analog Devices Price Target to $355
  9. Morgan Stanley Raises Analog Devices Price Target to $314
  10. Barclays Raises KLA Price Target to $1,595
  11. Bernstein Reiterates Outperform Rating on ASML (January 16)
  12. Barclays Raises Micron Price Target to $450
  13. TD Cowen Lowers Qualcomm Price Target to $190
  14. Barclays Raises Lam Research Price Target to $195
  15. Stifel Raises ON Semiconductor Price Target to $60
  16. TD Cowen Raises ON Semiconductor Price Target to $70
  17. Nomura/Instinet Raises TSMC Price Target to NT$2,280
  18. Morgan Stanley Raises TSMC Price Target to NT$2,088
  19. Barclays Raises Taiwan Semi Price Target to $450
  20. Macquarie Raises TSMC Price Target to NT$2,400
  21. JPMorgan Raises TSMC Price Target to NT$2,250
  22. TD Cowen Raises Taiwan Semi Price Target to $370
  23. Macquarie Lowers Li Auto Price Target to HK$59
  24. Macquarie Lowers BYD Price Target to RMB110
  25. Macquarie Lowers XPeng Price Target to HK$100
  26. Macquarie Upgrades NIO to Outperform, HK$47 Price Target
  27. Citi Upgrades Intel to Neutral
  28. Barclays Upgrades Applied Materials to Overweight
  29. Wells Fargo Raises Applied Materials Price Target to $350
  30. Wolfe Research Raises Analog Devices Price Target to $330
  31. Wells Fargo Upgrades Analog Devices to Overweight
  32. Citi Raises Analog Devices Price Target to $340
  33. Wells Fargo Upgrades KLA to Overweight
  34. Morgan Stanley Upgrades KLA to Overweight
  35. Wells Fargo Raises ASML Price Target to $1,450
  36. Wells Fargo Raises Micron Price Target to $410
  37. Citi Raises Micron Price Target to $385
  38. Wells Fargo Upgrades Lam Research to Overweight
  39. Morgan Stanley Raises Lam Research Price Target to $211
  40. RBC Capital Raises Alphabet Price Target to $375
  41. Wells Fargo Upgrades Broadcom to Overweight, $430 Price Target
  42. Citi Raises ON Semiconductor Price Target to $66
  43. Bank of America Raises Taiwan Semi Price Target to $470
  44. Macquarie Lowers XPeng Price Target to $26
  45. Macquarie Upgrades NIO to Outperform with $6.10 Price Target
  46. UBS Raises Intel Price Target to $49
  47. RBC Capital Initiates Intel at Sector Perform
  48. RBC Capital Initiates AMD at Sector Perform
  49. Stifel Raises Applied Materials Price Target to $340
  50. RBC Capital Initiates Applied Materials at Outperform
  51. Bernstein Initiates Coverage on KLA at Outperform
  52. Stifel Raises KLA Price Target to $1,600
  53. RBC Capital Initiates Coverage on KLA at Sector Perform
  54. JPMorgan Raises ASML Price Target to $1,518
  55. RBC Capital Initiates Coverage on ASML at Outperform
  56. Cantor Fitzgerald Raises Micron Price Target to $450
  57. RBC Capital Initiates Coverage on Micron at Outperform
  58. RBC Capital Initiates Coverage on Qualcomm at Sector Perform
  59. Stifel Raises Lam Research Price Target to $250
  60. RBC Capital Initiates Coverage on Lam Research at Outperform
  61. RBC Capital Starts Marvell at Outperform
  62. RBC Capital Starts Arm Holdings at Outperform
  63. RBC Capital Initiates AMD at Sector Perform, $230 Price Target
  64. RBC Capital Initiates Broadcom at Sector Perform, $370 Price Target
  65. CLSA Lowers BYD Price Target to RMB131
  66. RBC Capital Lowers Lucid’s Price Target to $14
  67. UBS Downgrades Rivian to Sell
  68. KeyBanc Upgrades Intel to Overweight
  69. KeyBanc Upgrades AMD to Overweight
  70. KeyBanc Raises Analog Devices Price Target to $375
  71. TD Cowen Upgrades KLA to Buy
  72. KeyBanc Raises Micron Price Target to $450
  73. Goldman Sachs Assumes Super Micro Computer Coverage at Sell
  74. BofA Securities Downgrades Arm Holdings to Neutral
  75. TD Cowen Raises Meta Price Target to $820 Post Ad Buyer Survey
  76. KeyBanc Upgrades AMD to Overweight, $270 Price Target
  77. Citi Upgrades Palantir to Buy
  78. Susquehanna Upgrades Applied Materials to Positive
  79. Bernstein Raises Applied Materials Price Target to $325
  80. Bernstein Raises Lam Research Price Target to $225
  81. Goldman Sachs Upgrades Oracle to Buy
  82. Wells Fargo Raises Alphabet Price Target to $350
  83. Wells Fargo Lowers Meta Price Target to $795
  84. Evercore ISI Reiterates Outperform Rating on Apple Following Google AI Deal, $330 Price Target
  85. Cantor Fitzgerald Reiterates Overweight Rating on Lucid
  86. Goldman Sachs Raises Microsoft’s Price Target to $655
  87. DA Davidson Reiterates a Buy Rating on Nvidia
  88. Wolfe Downgrades Rivian to Underperform
Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.