Here Are Wednesday’s Top Wall Street Analyst Research Calls: The Gap, Genmab, Hilton Worldwide, Intuitive Surgical, Marriott International, Merck, Novo Nordisk, Okta, and More

Lee Jackson Wed, August 12, 2026 at 12:09 PM UTC

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A hotter-than-expected July CPI print could spark heavy selling, as markets closed lower Tuesday except the Russell 2000, up 21% year to date.

HLT was upgraded to Buy at Deutsche Bank with a $365 target, while NVO was cut to Hold at Berenberg with a $47 target.

Iran's closure of the Strait of Hormuz sent Brent Crude surging nearly 4% to $89, with only 6 vessels making passage Monday.

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Pre-Market Stock Futures:

Futures are trading modestly higher as we have arrived at the day everyone on Wall Street has circled on their calendars. The July consumer price index will be released at 8:30 AM EDT, and the producer price index will be released at the same time tomorrow. Economists forecast headline CPI to rise 0.1% month-over-month and 3.4% year-over-year, with core CPI expected to increase 0.2% month-over-month and 2.5% year-over-year. One thing is for sure; if the numbers come in hot and above expectations, the stock market could see a bout of heavy selling. All of the major indices finished the day lower on Tuesday, except the small-cap Russell 2000, which closed at 3,027, up 0.32%. It remains the leading index in 2026, up 21.5% year to date. The technology-heavy Nasdaq was down the most on Tuesday, closing at 26,445, down 0.60%, while the S&P 500 finished the day at 7,728, down 0.32%. Last but not least, the Dow Jones Industrial Average closed the session at 53,791, down 0.34%.

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Treasury Bonds:

Yields were modestly lower across the entire Treasury curve, as everyone in the fixed-income arena again awaits today's and tomorrow's inflation numbers. A reading above expectations is likely to hasten the return of sellers, though the response could be less than expected, as rates have surged higher over the last month. While a number below the estimates is likely good news for equity markets and could prompt some buying of corporate and government debt, as yields have reached their highest levels in 20 years, especially on the long end. The 30-year long bond finished the day at 5.25%, while the benchmark 10-year note was last seen at 4.69%.

Oil and Gas:

Prices were higher once again across the energy complex as traffic in the Strait of Hormuz has slowed to a crawl, with only 6 vessels making the passage on Monday. Iran made the bold announcement that the Straits will remain closed until the United States meets its conditions, a claim highly unlikely, as both countries hurled demands for reparations at each other earlier this week. Brent Crude closed Tuesday's trading at $89.13, up 3.83%, while West Texas Intermediate was last seen at $83.36, up 1.23%. Natural gas closed lower at $2.75, down 1.54%.

Gold:

After a good August stretch for the precious metals, the sellers stepped in on Tuesday, citing the same concerns others across Wall Street have: the July inflation numbers. Gold closed Tuesday down 0.49% at $4.366, while Silver finished the session at $64.79, down 1.61%.

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Crypto:

Bitcoin slipped roughly 1.2% on Tuesday, declining toward the $63,500–$64,000 range. The broader crypto market capitalization fell about 1% to $2.19 trillion, as a failed attempt to break above $65,000, renewed U.S.–Iran geopolitical tensions, and ETF outflows prompted cautious pre-CPI consolidation. At 8 AM EDT, Bitcoin was trading at $64,097, while Ethereum was trading at $1,912.

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 seen on Wednesday August, 12, 2026.

Upgrades: -

Hilton Worldwide Holdings (NYSE: HLT) was upgraded to Buy from Hold at Deutsche Bank, which has a $365 target price for the shares.

Idex Corporation (NYSE: IEX) was upgraded to Outperform from Neutral at Mizuho, with a $280 target price.

Intuitive Surgical (NASDAQ: ISRG) was raised to Outperform from Perform at Oppenheimer, which has a $500 target price.

Merck & Co. (NYSE: MRK) was upgraded to Outperform from Neutral at Daiwas, with a $143 target price for the pharmaceutical giant.

Okta (NASDAQ: OKTA) was raised to Outperform from Market Perform at Citizens, with a $170 target price.

Downgrades: -

Tencent Music Entertainment Group (NYSE: TME) China Renaissance downgraded the stock to Hold from Buy, with a $9.30 target price.

The Gap(NYSE: GAP) was downgraded to Hold from Buy at Jefferies, which trimmed the target price for the legacy retailer to $23 from $29.

Legend Biotech Corporation (NASDAQ: LEGN) was downgraded to Perform from Outperform at Oppenheimer, without a target price.

Novo Nordisk (NYSE: NVO) was downgraded to Hold from Buy at Berenberg, with a $47 target price objective.

On Holding (NYSE: ONON) was downgraded to Outperform from Strong Buy at Raymond James, which lowered the price target to $38 from $52.

Initiations: -

Genmab (NASDAQ: GMAB) was started with an Outperform rating at BNP Paribas, which has a $40 target price for the shares.

Marriott International (NYSE: MAR) was initiated with an Outperform rating at CICC, with a $410 target price.

Mercury Systems (NASDAQ: MRCY) was started with an Overweight rating at Piper Sandler, with a $126 target price.

Monolithic Power Systems(NASDAQ: MPWR) was initiated with a Buy rating at GF Securities, with a $1,706 target price.

Unusual Machines (NYSE: UMAC) was started with an Overweight rating at Piper Sandler, with a $38 target price.

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