DocuSign Upgraded, Arista Downgraded: Call from Top Wall Street Analysts

Citibank has activated theCiena (CIEN) has a research rating of "Sell" and a price target of $44. The analyst is bullish on Ciena's established leadership position in the optical transport market, particularly in the data center interconnect market, but believes that the benefits of AI network traffic are still some time off.

Citi has recovered its interest inCisco Systems Company (CSCO) with a "Neutral" rating and a $52 price target. The analyst also opened a "90-day positive catalyst watch" on the stock. In a research note, the analysts told investors that while expectations for the next two quarters may decline due to long-term inventory correction and the impact of Splunk, the multiples on the stock should widen moderately as the company benefits from demand for second-segment artificial intelligence-related networks from sovereigns and cloud providers.

The retailer, Janney Montgomery Scott, has activated a review of theFirst Solar (FSLR) research with a Buy rating and a fair value estimate of $236. Analysts told investors that First Solar's utility-grade breadboard business is oversold through 2026, with a backlog of more than $23 billion, providing "unique long-term certainty" that insulates it from the ongoing challenge of project exits affecting the domestic utility-grade market from 2024-2025.

Stephens Resumption of the debate onWingstop (WING) with a Hold rating and a $425 price target. Analysts note that Wingstop is "one of the few publicly traded restaurant companies with sustained same-store sales growth" and also offers investors a targeted investment opportunity in the chicken megatrend, which the firm believes has "perhaps the most unique and compelling growth story ".

Stephens has resumed his fight against Chipotle (CMG) with an Equal Weight rating and a $3,010 price target. The analysts told investors in a research note that the company has differentiated itself from its fast casual dining peers through top-notch execution, delivering impressive unit economics across all of its company-owned stores while expanding its digital offerings.