Arm upgraded, Strategy initiated: Wall Street's top analyst calls

Upgrades - Oppenheimer upgraded Freshpet (FRPT) to Outperform from Perform with a price target of $80, citing a more attractive risk/reward after a 10% pullback due to competition concerns from Costco's Kirkland Signature brand [2] - HSBC upgraded Chevron (CVX) to Buy from Hold with a price target of $215, increased from $180, due to raised estimates for global integrated oil companies following the macro shock from the Middle East conflict [2] - Mizuho upgraded Chipotle (CMG) to Outperform from Neutral with a price target of $40, up from $37, based on potential positive catalysts from the company's Q1 earnings report and Q2 commentary [3] - Jefferies upgraded SolarEdge (SEDG) to Hold from Underperform with a price target of $49, increased from $30, as the Middle East conflict drives volatility in European energy prices [3] - HSBC double upgraded Arm (ARM) to Buy from Reduce with a price target of $205, up from $90, arguing that the market undervalues the company's transition to a major AI server CPU beneficiary [4] Downgrades - Freedom Capital downgraded Mosaic (MOS) to Sell from Hold with a price target of $24, down from $30, citing a "bifurcated shock" in the fertilizer market due to the Middle East conflict, which is expected to compress margins [4] - BofA downgraded Mosaic to Neutral from Buy with a price target of $30, down from $33, reflecting similar concerns regarding the impact of the conflict on profitability [4] - Citizens downgraded Greystone Housing (GHI) to Market Perform from Outperform, citing headwinds from higher interest rates [4] - Wells Fargo downgraded Amcor (AMCR) to Equal Weight from Overweight with a price target of $43, down from $48, noting a disproportionate share price reaction related to the Iran conflict across the packaging sector [4] - Wells Fargo downgraded Magnera (MAGN) to Equal Weight from Overweight with a price target of $12, down from $19, preferring companies with low leverage and high U.S. concentration [4] - Wells Fargo downgraded O-I Glass (OI) to Equal Weight from Overweight with a price target of $13, down from $18, adjusting ratings based on new macro conditions affecting stock risk/reward profiles [4]