Stifel upgrades Shopify to Buy, Citi downgrades PepsiCo to Neutral

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Summary · why it matters

Stifel upgraded Shopify to Buy from Hold with a price target of $150, up from $110, citing the company's share-gaining playbook in e-commerce and leadership in agentic commerce. Citi downgraded PepsiCo to Neutral from Buy with a price target of $145, down from $170, due to continued weakness in North America despite strategic actions. Among other notable calls, Wells Fargo upgraded Seagate to Overweight, Stifel upgraded Twilio to Buy, and Citi upgraded Toll Brothers to Buy, while Evercore ISI downgraded Travelers to In Line, Barclays downgraded Public Storage to Equal Weight, and Citi downgraded both Lamar Advertising and Ryder to Neutral. New initiations included Susquehanna starting IBM at Neutral, Truist starting Travelers at Buy, BTIG starting Equinix and Digital Realty at Buy, JPMorgan starting Honeywell Aerospace at Neutral, and BMO Capital starting Roper Technologies at Market Perform.

Impact on assets 15

Cloud & Digital Infrastructure▲
Shopify Inc
SHOP
▲ PositiveCapitalrelevance

Stifel upgraded Shopify to Buy with a price target increase from $110 to $150.

Twilio Inc
TWLO
▲ PositiveCapitalrelevance

Stifel upgraded Twilio to Buy, citing positive outlook.

Real Estate▲
Consumer Staples▼
PepsiCo Inc
PEP
▼ NegativeDemandrelevance

Citi downgraded PepsiCo due to continued weakness in North America demand.

Industrials▼
Consumer Discretionary▲
Defense & Geopolitical Fragmentation▲
Honeywell Aerospace Inc
HONA
± MixedCapitalrelevance

JPMorgan started Honeywell Aerospace at Neutral, indicating no strong positive or negative view.

Climate Adaptation & Water▲
Artificial Intelligence▲
Communication Services▲
Quantum Computing▲