GOOGL Ropes New Bull, WDAY & DE Downgraded at Jefferies

Group 1: Alphabet (Google) - Alphabet received an upgrade from Wells Fargo, moving from equal weight to overweight with a price target raised from $354 to $387, currently trading at approximately $317 [2][3] - The upgrade is based on Alphabet's leadership in customer data, distribution, and compute capacity, particularly emphasizing its plans to double its AI infrastructure capacity from 15 to 35 gigawatts by 2028 [4][5] - This expansion is expected to provide Alphabet with a competitive edge over other cloud providers, allowing it to train better AI models and serve more users [6] Group 2: Workday - Workday has been downgraded by Jeffries from buy to hold, with a new price target set at $150, down from $325, reflecting ongoing risks in the software sector due to AI disruption fears [8][9] - The downgrade is attributed to execution risks linked to changes in executive leadership and a decline in investor confidence, as the company has laid off over 20,000 workers [10][12][13] - Analysts suggest that the upcoming earnings report will be critical, with expectations set low for the company's performance [13] Group 3: Deere - Deere was downgraded by Jeffries from hold to underperform, with a price target raised from $475 to $550, indicating mixed sentiment about the agricultural economy's recovery [14][15] - While some analysts believe earnings will improve enough to justify higher valuations, others express skepticism about the timing of recovery in farmer incomes and crop prices [16]