Here Are Tuesday’s Top Wall Street Analyst Research Calls: Abercrombie & Fitch, Affirm Holdings, Eagle Materials, Klarna Group, Martin Marietta Materials, Oklo, Qualcomm, Robinhood Markets, Ulta Beauty, and More

Lee JacksonWed, September 9, 2026 at 12:06 PM UTC

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All major indices closed sharply lower Tuesday as Brent Crude surged near $99 and looming PPI and CPI readings raised fears of a Fed rate hike.

Qualcomm earned a Strong Buy upgrade at CFRA while Wells Fargo downgraded Eagle Materials and slashed Vulcan Materials' target to $254 from $305.

Robinhood Markets and Affirm Holdings received fresh Buy initiations with $170 and $105 targets from StoneX and Loop Capital, respectively.

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Pre-Market Stock Futures:

Futures are trading lower after a rough start to the holiday-shortened trading week. All the major indices finished the day sharply lower on rising oil prices and two huge inflation readings on deck: the producer price index on Thursday and the consumer price index on Friday. If both come in above expectations, you can count on an interest rate hike next week when the Federal Reserve governors meet. The venerable Dow Jones Industrial Average took the biggest shot, closing down 1.18% at 52,786, while the S&P 500 finished the session at 7,673, down 0.58%. The Russell 2000 fell 0.52% to 2,960, while the tech-heavy Nasdaq finished the day at 26,421, down 0.32%. With market-moving data on the way and sentiment falling, this could be a tough week for investors as we could catch some September blues.

Treasury Bonds:

Yields were modestly higher across the Treasury curve as traders and investors are well aware of the aforementioned data coming in that could move the needle later this week. The 30-year bond closed at 5.25%, up 0.003, while the benchmark 10-year note was last seen at 4.79%, up 0.008. With foreign holdings of Treasury debt seen to be in a declining stage, higher interest rates may be the answer, and that's the last thing the country could use at this point.

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Oil and Gas:

Once again, oil was the catalyst for much of Tuesday's results for the stock and bond markets. Iran-backed Houthis' attacks on Saudi Arabia may not provide the results Iran and its satellite terrorist organizations were looking for. When the dust settled, Brent Crude closed trading at $99.32, up 2.39%, while West Texas Intermediate closed Tuesday at $93.03, up 1.69%. Natural gas didn't follow the trend, closing at $2.92, down 2%.

Gold:

Gold didn't dodge any bullets Tuesday as the bullion finished the day at $4,354, down 1.14%, with the song remaining the same. Rising oil prices and the potential for inflation-induced rate hikes were all it took for the sellers to emerge. This came even after Goldman Sachs reiterated its year-end target at $ 4,900. Silver also closed lower at $65.58, down 0.93%.

Crypto:

Cryptocurrencies were lower across the board Tuesday, with the same issues that plagued other risk assets weighing on the sector. Bitcoin fell below $78,000 early in the session, hitting a low of $77,603 before recovering slightly to hover around $78,500 during the noon hour, down roughly 0.7% to 1% over the 24 hours. At 8 AM EDT, Bitcoin traded at $79,127, while Ethereum was quoted at $2,501.

24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. Important reminder: No single analyst report should ever be the sole basis for buying or selling a stock.

Here are some of the top Wall Street analyst upgrades, downgrades, and initiations from Wednesday, September 9, 2026.

Upgrades: -

Figure Technology (NASDAQ: FIGR) was upgraded to Neutral from Underperform at Bank of America, with a $49 target price.

M&T Bank(NYSE: MTB) was upgraded to Overweight from Equal Weight at Morgan Stanley, with a $304 target price oibjective.

Martin Marietta Materials (NYSE: MLM) was raised to Overweight from Equal Weight at Wells Fargo, which bumped the target price to $609 from $581.

Qualcomm (NASDAQ: QCOM) was upgraded to Strong Buy at CFRA, without a target price.

Thermo Fisher Scientific (NYSE: TMO) was upgraded to Buy from Neutral at UBS, which boosted the target price on the shares to $730 from $540.

Downgrades: -

Eagle Materials (NYSE: EXP) was downgraded to Equal Weight from Overweight at Wells Fargo, which has a $196 target price.

Klarna Group (NYSE: KLAR) was downgraded to Neutral from Buy at President's Capital Management, with a $16.30 price target.

Patria Investments (NYSE: PAX) was downgraded to Underperform from Neutral at Bank of America, with a $10 target price.

Vulcan Materials (NYSE: VMC) was downgraded to Underweight from Equal Weight at Wells Fargo, which lowered the target price to $254 from $305.

Westlake Chemical Partners (NYSE: WLK) was cut to Market Perform from Outperform at BMO Capital, with an $82 target price.

Initiations: -

Abercrombie & Fitch (NYSE: ANF) was initiated with an Outperform rating at BMO Capital, with a $170 target price.

Affirm Holdings (NASDAQ: AFRM) was initiated with a Buy rating at Loop Capital, with a $105 target price.

Oklo (NYSE: OKLO was initiated with an Overweight rating at Piper Sandler, with a $55 target price.

Robinhood Markets (NASDAQ: HOOD) was initiated with a Buy rating at StoneX, which has a $170 target price.

Ulta Beauty (NASDAQ: ULTA) was started with a Market Perform rating at BMO Capital, with a $580 target price.

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