Recent analyst actions showcase a shift in sentiment across tech and mining sectors, with several noteworthy rating changes including Palantir Technologies (PLTR) that received a significant upgrade from Weebler Finance, despite ongoing valuation concerns. Meanwhile, operational challenges at Freeport-McMoRan (FCX) following a mine accident prompted Narek Hovhannisyan to adopt a more cautious stance. In the semiconductor space, Danil Sereda downgraded AMD (AMD) citing overvaluation concerns, while Qualcomm (QCOM) received positive attention from Deep Value Investing following its entry into the data center AI market.
Upgrades
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Palantir Technologies Inc. (PLTR): Upgrade Sell to Buy by Weebler Finance. Despite sky-high valuation metrics, the analyst sees strong momentum ahead of Q3 earnings, with government sector wins and commercial partnerships positioning the company as a strategic player in the AI landscape.
“In my view, as I have emphasized above, Palantir is likely to report a very solid Q3 next week, which would justify the strong bullishness seen in its charts recently… I believe that this sentiment will invigorate further with the earnings release, which, as I have mentioned above, I expect to act as a major confirmation catalyst for the bullish narrative already priced into the stock.”
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QUALCOMM Incorporated (QCOM): Upgrade to Buy by Deep Value Investing. The analyst cites the October 27 launch of AI200/AI250 rack-scale inference systems as an inflection point that puts an AI stamp on Qualcomm, potentially offsetting Apple modem revenue erosion.
“Even though the company is growing revenue and EPS in the double digits, I didn’t see a major catalyst to ignite investor optimism around this stock…My opinion drastically changed on October 27, after the company unveiled its AI200 and AI250 rack-scale solutions for data center inference workloads. I see this announcement as a clear inflection point for the company.”
Downgrades
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Freeport-McMoRan Inc. (FCX): Downgrade Buy to Hold by Narek Hovhannisyan. Production setbacks following the Grasberg mine accident prompted a revised fair value of $42 and more cautious outlook despite strong Q3 results driven by high copper and gold prices.
“Due to the shutdown of production at the Grasberg mine, it was necessary to revise forecasts for the company and identify a new fair value of shares, taking into account the decline in production. According to my calculations, the new introduction led to a revaluation of the fair value of the shares to $42 (the previous target was $50). I don’t see any potential for growth in the coming quarters.”
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Advanced Micro Devices, Inc. (AMD): Downgrade to Hold by Danil Sereda. Despite long-term bullishness on AMD’s business model shift and data center growth, the analyst sees the stock as overvalued with limited near-term upside and risk of post-earnings correction.
“The rally we’ve been seeing in AMD stock is still strong, no doubt about it, but it can cool even if AMD beats this time because the narrative has shifted from pessimism to extreme greed lately, and the market prices AMD close to perfection. The upside looks limited, in my view, and I’m waiting for some cool off close to the current ATH.”