StubHub, Jazz Pharmaceuticals upgraded: Wall Street's top analyst calls

The Fly

Tue, May 19, 2026 at 9:34 AM EDT 4 min read

• Guggenheim upgraded StubHub (STUB) to Buy from Neutral with a price target of $12.50, up from $8.50, which offers 30% potential upside. The company reset Street expectations for this year and next, and the bar is now "extremely low" on direct issuance and advertising, the firm tells investors in a research note, adding that it believes any progress shown by StubHub "would represent upside optionality."

• UBS upgraded Jazz Pharmaceuticals (JAZZ) to Buy from Neutral with a price target of $307, up from $188. The firm cites improved confidence in Jazz's base business and Ziihera's commercial potential for the upgrade.

• Bernstein upgraded American Tower (AMT) to Outperform from Market Perform with an unchanged price target of $207. The firm believes the market is overstating American Tower's risk while undervaluing its potential upside.

• Canaccord upgraded Progyny (PGNY) to Buy from Hold with a price target of $30, up from $19. The company's "more conservative guidance philosophy" over the last several quarters has reestablished a track record of beating quarterly estimates, the firm tells investors in a research note.

• HSBC upgraded Credicorp (BAP) to Buy from Hold with a price target of $350, up from $320. The company reported "very strong" Q1 results, supported by low cost of risk, rising loan growth, and "resilient" margin, the firm tells investors in a research note.

Top 5 Downgrades:

• Craig-Hallum downgraded LiveRamp (RAMP) to Hold from Buy with a $38.50 price target after Publicis said it will acquire LiveRamp for $2.167B in an all-cash transaction, based on an acquisition price of $38.50 per share.

• BMO Capital downgraded The Hanover (THG) to Market Perform from Outperform with a price target of $203, up from $194. The firm says valuation multiples "are nearing fair value for many insurers," including Hanover, and believes the company's home insurance segment will bring more earnings volatility than other lines of insurance.

• Freedom Broker downgraded Canadian Solar (CSIQ) to Hold from Buy with an unchanged price target of $16. A Q1 margin beat was helped by tariff refunds, notes the firm, which says EPS and cash flow "remain weak."

• Benchmark downgraded Biofrontera (BFRI) to Speculative Buy from Buy with a $3 price target after the company reported in line Q1 results and reiterated its plans to break even on an operating cash flow basis for 2026.

• UBS downgraded James River Group (JRVR) to Neutral from Buy with a price target of $4.75, down from $8. The firm cites the company's higher equity cost of capital amid increased risks for adverse reserve development for the downgrade.