Recently Published Research

研报英文原文证据摘录

Recently Published Research

Equity Research

May 14, 2026

Coverage Initiations Equity Research Department

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Rating Changes

Health Care

AMPH (Equal Weight) Downgrading to Equal Weight; 2026 & 2027 Revenue Is Hard to

Predict w/ Conviction | Benjamin Burnett

DOCS (Equal Weight) Downgrade to Equal Weight: We Think Doximity Is Structurally

Disadvantaged in the Must-Win AI Race; PT to $18 | Stan Berenshteyn

Price Target Revisions

Consumer

Consumer: Hardline Retail Q1 Deep Dive: Rock and a Hard Place for Housing; AZO Sets Up

Best | Zachary Fadem

EYE (Equal Weight) Another Mixed Print, Another Harsh Reaction; but Q1 Does Little to

Relieve Lingering Concern | Zachary Fadem

GO (Equal Weight) Signs of Progress, but Still Plenty to Do in a Tough Low-End

Backdrop | Edward Kelly

Energy

NXT (Overweight) FQ4 Beat, FY27 Guidance Raised; On Pace To Exceed 2030 Targets—

Positive Outlook | Praneeth Satish

OVV (Equal Weight) Post 1Q26 Adjustments—Strong Execution Continues, Though

Upside Appears More Balanced; Raising PT | Hanwen Chang

Financial Services

RWAY (Equal Weight) Recap: Merger Math | Finian O'Shea

MIST (Overweight) Momentum Builds Up for Cardamyst Launch | Mohit Bansal

WAT (Equal Weight) One of the Better Fundamental Stories in a Tough Tools Backdrop

Post 1Q26 Beat; Publishing Updated Model | Brandon Couillard

Materials

MOS (Equal Weight) All the Leaves are Brown—Maintain EW on Phosphate Volume &

Cost Headwinds, Uncertain Fertilizantes Outlook | Michael Sison

Technology & Services

AVGO (Overweight) Gauging FY27 Upside to $100B+ - New GW-Driven Analysis Drives

Estimates Well-Above Consensus; PT to $545 (was $430) | Aaron Rakers

CSCO (Overweight) F3Q26 Review: AI Momentum Continues; Ex-AI Orders +19% (vs

+10% in F2Q26) - Focus on Path to $5.50/sh.+ in CY28 EPS | Aaron Rakers