The Fly compiled the day's top analyst rating changes. DA Davidson upgraded Broadcom to Buy from Neutral with a price target of $400, up from $350, saying the AI cycle 'isn't over quite yet.' Citi upgraded MercadoLibre to Buy from Neutral with a $2,050 target, down from $2,100, after a recent selloff, and Raymond James upgraded Macom to Outperform with a $300 target after its 30% decline since the beginning of October. On the downgrade side, William Blair cut Moderna to Market Perform from Outperform, citing valuation after the stock rose 545% year-to-date, while UBS moved HubSpot to Neutral from Buy with a $310 target. Citi cut PagSeguro to Neutral with an $8 target from $13, reflecting a higher-for-longer rate environment in Brazil, and cut XP to Neutral with a $15 target from $25.
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