CVS upgraded, General Mills downgraded: Wall Street's top analyst calls

Upgrades - Bernstein upgraded CVS Health (CVS) to Outperform from Market Perform with a price target of $94, up from $91, indicating a 23% upside due to attractive exposure to the Medicare Advantage turnaround and potential for more stable earnings in its pharmacy businesses after reform impacts [2] - Bernstein upgraded Cigna (CI) to Outperform from Market Perform with a price target of $358, up from $307, as the firm sees the combination of the Pharmacy Benefit Manager reform bill and the FTC settlement as "clearing events" that will increase the multiple over time [2] - Wells Fargo double upgraded Occidental (OXY) to Overweight from Underweight with a price target of $69, up from $47, citing the company's peer-leading oil sensitivity and Permian capital efficiency trends as key factors [2] - Piper Sandler also upgraded Occidental to Overweight from Neutral with a price target of $66, up from $54 [2] - Williams Trading upgraded Crocs (CROX) to Hold from Sell with an $84 price target, citing valuation as the reason for the upgrade with shares currently below the price target [2] - Jefferies upgraded Petco (WOOF) to Buy from Hold with a price target of $5, up from $4.05, noting that the company is entering 2026 with growth prospects as liquidity and profitability concerns are now resolved [2]