Street Calls of the Week

This week saw several notable analyst shifts: UBS upgraded Expeditors to Buy (PT $166), arguing customs growth and productivity improvements should offset lower ocean rates and lift 2027 EPS to $6.90 (consensus $6.39); Rothschilds Redburn downgraded Amazon to Neutral (PT $250) warning that AWS’s Gen‑AI gains are starting to compress returns; Wells Fargo cut Molson Coors to Equal‑Weight (PT $50) amid category softness, share losses and limited EPS upside from buybacks while initiating Anheuser‑Busch InBev at Overweight. Meanwhile Morgan Stanley upgraded Nasdaq to Overweight (PT $110), forecasting cyclical tailwinds, ~9% revenue growth through 2028, a 13% EPS CAGR and scope for a valuation re‑rating, and Raymond James moved Doximity to Strong Buy (PT $65), valuing it at about 25x FCF on expected double‑digit growth despite near‑term seasonality.

Analysis

This week featured several targeted analyst repositionings with concrete financial assumptions. UBS upgraded Expeditors (EXPD) to Buy with a $166 target, raising 2027 EPS to $6.90 (consensus $6.39) and citing customs growth and multi-year productivity gains that could offset lower ocean rates; UBS projects 2027 EBIT of $1,134m versus a $950m implied figure and notes an expected ~4% net revenue bounce. Morgan Stanley upgraded Nasdaq (NDAQ) to Overweight with a $110 target, forecasting 9% revenue growth across 2025–28, a 13% EPS CAGR and a potential re-rating to ~24.7x 2027 P/E from 21.2x given secular demand for data, index and regulatory tech solutions.

Rothschilds Redburn moved Amazon (AMZN) to Neutral with a $250 target, warning that AWS’s Gen‑AI monetization is elevating scale but compressing returns despite Anthropic partnerships. Wells Fargo downgraded Molson Coors (TAP) to Equal‑weight with a $50 target, citing category softness, share loss (peak 22% in 2023) and limited EPS upside from buybacks that could leave TAP exposed to a ~400bp underperformance if share trends normalize.

Raymond James upgraded Doximity (DOCS) to Strong Buy at $65, valuing it at ~25x FCF and projecting double‑digit growth despite pronounced F1H26 seasonality and a conservative F2H outlook. Overall sentiment across these notes is mildly positive (sentiment score 0.25) with differentiated opportunities in data/solutions and select logistics names versus caution in consumer beverages and cloud margin dynamics.

Key Decisions for Investors

• Consider initiating or adding to EXPD on weakness given UBS's Buy call, $166 PT and revised 2027 EPS of $6.90 which implies upside if customs and productivity gains materialize
• Favor NDAQ as a cyclical plus secular exposure; consider overweighting given Morgan Stanley's 9% revenue growth and 13% EPS CAGR thesis, but monitor macro growth and rate moves that support index and workflow revenues
• Trim or avoid TAP exposure and consider rotating into BUD where appropriate given Wells Fargo's downgrade of TAP to Equal‑weight and the risk of share reversion and muted EPS upside from buybacks
• Maintain a cautious to neutral stance on AMZN until AWS margin trajectory from Gen‑AI monetization is clearer following Rothschilds Redburn's downgrade to Neutral
• Accumulate DOCS selectively for long‑term growth exposure given Raymond James's Strong Buy and 25x FCF valuation, while watching near‑term seasonality and guidance for signs of durable demand