• Goldman Sachs upgrades CIB (CIB) to Buy, raising its price target to $98 from $81, signaling a bullish view on the financial sector.
  • UBS downgrades XOM (XOM) to Neutral despite a higher price target of $158, reflecting cautious optimism on energy.
  • Jefferies cuts CLX (CLX) to Hold with a lowered PT of $98, highlighting headwinds in consumer staples.

A wave of analyst rating changes swept across equities Tuesday, with upgrades outnumbering downgrades in a session that saw major brokerages adjust their stances on over two dozen names.

Financials and energy were in the spotlight. Goldman Sachs upgraded CIB to Buy and raised its price target to $98 from $81, citing improved growth prospects. JPMorgan upgraded both IP (IP) and JBS (JBS) to Overweight, lifting targets to $61 and $18, respectively. UBS upgraded MDT (MDT) and SOLV (SOLV) to Buy, with PTs of $100 and $95.

On the downside, UBS downgraded XOM to Neutral, though it raised the price target to $158 from $154, suggesting a more balanced risk-reward. TD Cowen downgraded RXO (RXO) to Sell, slashing its PT to $19 from $24, while Wolfe Research downgraded SYRE (SYRE) and VC (VC) to Peerperform.

“The breadth of changes reflects a market that is still sorting through earnings and guidance revisions,” said a portfolio manager who declined to be named. “We’re seeing analysts get more selective, especially in areas like consumer staples and healthcare where headwinds are building.”

In healthcare, Leerink upgraded GOSS (GOSS) to Outperform with a $1 PT, while Barclays downgraded FBRX (FBRX) to Equal Weight despite raising its target to $77. UBS downgraded CRNX (CRNX) to Neutral but lifted its PT to $85. Consumer-facing names were hit: Jefferies downgraded CLX to Hold and cut its PT to $98 from $125, and Wells Fargo downgraded LEVI (LEVI) to Equal Weight with a $25 PT.

Tech also saw mixed action. TD Cowen downgraded INTU (INTU) to Hold, slashing its PT from $504 to $304, while UBS downgraded PRCT (PRCT) to Neutral. The moves come as interest rates and growth expectations continue to shift.

Correction: An earlier version of this article incorrectly stated the downgrade of CLX. The correct downgrade is to Hold, not Sell. The headline has been updated.