Friday Wall Street calls: KeyBanc upgrades Airbnb to Overweight ($191 PT); RBC downgrades Northrop Grumman; Baird and Stifel cut Nike targets to $36
What happened
A broad wave of analyst rating changes hit Friday. KeyBanc Capital Markets upgraded Airbnb from sector weight to overweight with a $191 price target, citing product momentum; ABNB rose 1%+ on the news. RBC downgraded Northrop Grumman from overweight to sector weight and cut its price target, flagging a more cautious defense backdrop — a notable bearish call in an otherwise upbeat Friday ratings session. On Nike, Baird cut its rating to neutral (target $36) and Stifel lowered its target to $36 while keeping hold, both following the FQ1 revenue miss ($11.21B vs $11.32B est) and the full-year guidance reset to $1.15-$1.35 EPS vs ~$1.66 consensus; Bernstein kept an outperform on Nike post-earnings. Rothschild & Co Redburn upgraded Abbott Laboratories to buy on improved medtech visibility.
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Who’s affected
- Airbnb (ABNB) — upgraded to Overweight by KeyBanc with a $191 target, cited product momentum; positive for travel/platform stocks. Northrop Grumman (NOC) — cut to sector weight by RBC on a more cautious defense backdrop; negative read-through for defense primes. Nike (NKE) — Baird cut to neutral and Stifel maintained hold, both with $36 targets, after the FQ1 miss and FY2027 guidance cut to $1.15-$1.35 EPS
- BTIG also trimmed its target $55 to $50 while keeping buy. Positive counterpoint: Bernstein reiterated Nike at outperform after the earnings release.