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 by The Fly.

Top 5 Upgrades:

• BofA double upgraded Robinhood (HOOD) to Buy from Underperform with a price target of $24, up from $14. Retail engagement peaked in 2021 and then declined significantly, troughing in 2023, but the firm has monitored a rebound in multiple metrics, including organic growth, margin loan utilization, and year over year trading activity and payment for order flow, and BofA expects this to continue through 2026.

• Jefferies upgraded DuPont (DD) to Buy from Hold with a price target of $101, up from $78. The firm says the cyclical recovery trade for DuPont is all about volumes, not spreads.

• Wolfe Research upgraded United Airlines (UAL) to Outperform from Peer Perform with a $76 price target. The firm continues to favor legacy airline fundamentals and says United offers earnings upside potential and a compelling valuation.

• BofA upgraded Coinbase (COIN) to Neutral from Underperform with a price target of $217, up from $110. The current macro environment has been a positive for cryptocurrency market cap appreciation and trading volumes, the analyst tells investors in a research note.

• BTIG upgraded Darden (DRI) to Buy from Neutral with a $175 price target. The stock's performance has languished year-to-date, but investor sentiment has been "overly worrisome", creating "compelling" valuations for the shares, the analyst says.

Top 5 Downgrades:

• Morgan Stanley downgraded Baidu (BIDU) to Equal Weight from Overweight with a price target of $125, down from $140. Baidu's weak advertising outlook is "set to linger," the analyst tells investors in a research note.

• HSBC downgraded Take-Two (TTWO) to Hold from Buy with a $154 price target.

• Baird downgraded BioMarin (BMRN) to Neutral from Outperform with a price target of $72, down from $104. BridgeBio (BBIO) expects to provide updated data from its ongoing study of oral infigratinib in achondroplasia, in early June, the analyst says.

• Scotiabank downgraded Macerich (MAC) to Underperform from Sector Perform with a price target of $14, down from $16. The firm cites the company's "somewhat disappointing" Q1 results and the announcement of its strategic plan to address leverage for the downgrade.

• CL King downgraded Cracker Barrel (CBRL) to Neutral from Buy with a $90 price target.
  
  

Top 5 Initiations:

• Cantor Fitzgerald initiated coverage of AbbVie (ABBV) with an Overweight rating and $200 price target. AbbVie has successfully positioned itself to absorb Humira biosimilar erosion and achieve modest operational revenue growth, which should be followed by a return to robust growth in 2025, the analyst tells investors in a research note.

• Canaccord initiated coverage of Beachbody Company (BODI) with a Buy rating and $13 price target. The firm says the company has made good progress in its turnaround story, evidenced by two consecutive quarters of positive adjusted EBITDA.

• Oppenheimer initiated coverage of Confluent (CFLT) with an Outperform rating and $37 price target. The firm believes the company is strongly positioned to benefit from the rising importance of real-time data in applications and analytics use cases.

• Lake Street initiated coverage of Mission Produce (AVO) with a Buy rating and $15 price target. Mission Produce has rebounded from recent macro and operational challenges and hit an EBITDA inflection point while a free cash flow inflection point looms, the analyst tells investors in a research note.

• Roth MKM initiated coverage of Ree Automotive (REE) with a Buy rating and $14 price target. The analyst believes Ree shares retain "significant upside potential" as the company is positioned to serve billion-dollar markets, but the stock trades as a sub-$100M microcap.