Shopify upgraded, PepsiCo downgrade: Wall Street's top analyst calls

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled. Top 5 Upgrades: Stifel upgraded Shopify (SHOP) to Buy from Hold with a price target of $150, up from $110. The company will continue to execute its share-gaining playbook in the e-commerce space while extending its leadership through agentic commerce and compounding Gross Merchandise Value at a multiple of the broader e-commerce market, the firm tells investors in a research note. Wells Fargo upgraded Seagate (STX) to Overweight from Equal Weight with a price target of $1,100, up from $900, citing the recent pullback in shares along with the firm's increasing confidence in a path to $50-plus in EPS and significant capital return capacity. Stifel upgraded Twilio (TWLO) to Buy from Hold with a price target of $260, up from $175. The firm believes the company has the right tools in place to capitalize on the AI cycle and drive durable growth on the back of its recently accelerating trajectory. Rothschild & Co Redburn upgraded Fox Corp. (FOXA) to Buy from Neutral with a $71 price target. Fox's shares are about 15%.