Here Are Wednesday’s Top Wall Street Analyst Research Calls: Ally Financial, GitLab, GLOBAL FOUNDRIES, Martin Marietta Materials, Rocket Lab USA, Strategy, Toast, Tower Semiconductor, and More

All major indices closed lower Tuesday as war tensions and rising oil prices drove the Russell 2000 down 1% and Nasdaq down 1%.

The 30-year Treasury bond hit 5.27%, its highest yield since 2007, while Brent Crude surged 5% to $95 on renewed conflict.

Raymond James initiated Ally Financial with a Strong Buy at $55, while TD Cowen slashed EyePoint Pharmaceuticals' target 80% to $4.

Futures are trading mixed after a rough start to September, which has been mentioned ad nauseum this week as historically the worst month of the year for stocks. That was the case at least for today, as all of the major indices finished the day lower, but off the lowest prints of the day. Escalating war tensions, rising oil prices, Treasury yields, and the September overhang were blamed once again. At the close, the small-cap Russell 2000 led the way lower, down 1.23% to 2,920, while the Nasdaq followed, closing at 26,099, down 1.03%. The Dow Jones Industrials ended the session at 52,768, down o.79%, while the S&P 500 was last seen at 7,631, down 0.71%. Trading volumes will continue to plummet, and by Friday the machines and the interns will be running the ship. While that is an exaggeration, that's not far from the truth.

Yields were higher across the Treasury curve as the aforementioned issues that hit the equity market plowed right into the bond market as well. When it was all said and done, the 30-year long bond closed the day at 5.27%, the highest yield for the bond since 2007, while the benchmark 10-year note ended on Tuesday at 4.80%, the highest since January of 2025. With all of Wall Street slowing to a crawl, we could see more downside before the holiday.

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The return of the fighting and missile attacks was all it took to ignite buying for the energy complex, and they did on Tuesday as both major benchmarks surged higher for the second day running. While the Iranian government said Tuesday that a return to the June Memorandum of Understanding is totally possible, it may take stronger efforts and resolution from Iran's leaders to put the deal back in place. The final print for Brent Crude was posted at $ 95, up 4.98%, while West Texas Intermediate closed at $90.22, up 5.20%. Natural gas closed modestly lower at $2.90, down 1.06%.

Rising interest rates, a surging U.S. dollar, and expectations for a rate hike in two weeks were all the ammo the sellers needed for the precious metal arena on Tuesday. Gold closed the day at $4,327, down 2.69%, while Silver finished the day at $63.95, down 3.71%. While one might expect geopolitical turmoil to be a strong tailwind for bullion, a strong dollar is a big negative for dollar-priced gold.

The major cryptocurrencies traded mostly flat to lower on Tuesday as mounting expectations of a Federal Reserve interest rate hike weighed on prices. Toss in the other market headwinds and a huge rally for the sector over the last two weeks, and the sellers have a passing lane to open to ignore. At 8 AM EDT, Bitcoin was trading at $76,620, while Ethereum was quoted at $2,377.

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, September 2, 2026.

GitLab ( NASDAQ: GTLB ) was upgraded to Market Perform from Underperform at William Blair, without a price target,

InterContinental Hotels Group ( NYSE: IHG ) was upgraded to Buy from Neutral at UBS, which lifted the target price to $188 from $157.65.

Martin Marietta Materials ( NYSE: MLM ) was upgraded to Overweight from Neutral at JPMorgan, with an unchanged $680 target price.

OGE Energy ( NYSE: OGE ) was raised to Outperform from Sector Perform at RBC Capital, which bumped the target price for the shares to $54 from $50.

Sirius XM Holdings ( NASDAQ: SIRI ) was upgraded to Buy from Hold at Deutsche Bank, with a $45 target price.

Amrize ( NYSE: AMRZ ) was downgraded to Underperform from Neutral at Bank of America, which dropped the target price to $52 from $57.

EyePoint Pharmaceuticals ( NASDAQ: EYPT) was downgraded to Hold from Buy at TD Cowen, which slashed the target price to $4 from $20.

Knife River ( NYSE: KNF ) was cut to Underweight from Neutral at JPMorgan, which lowered the target price for the stock to $40 from $50.

NIO ( NYSE: NIO) was downgraded to Neutral from Overweight at JPMorgan, which trimmed the target price to $4.450 from $7.

Toast ( NYSE: TOST ) was cut to Neutral from Outperform at BNP Paribas, which trimmed the target price for the stock to $35 from $38.

Ally Financial (NASDAQ: ALLY ) was initiated with a Strong Buy rating at Raymond James, with a $55 target price.

GLOBAL FOUNDRIES ( NASDAQ: GFS ) was initiated with a Buy rating at Stifel, with a $60 target price.

Rocket Lab USA (NASDAQ: RKLB ) was started with a Buy rating at Berenberg, with an $83 target price.

Strategy ( NASDAQ: MSTR ) was started with a Buy rating at Alliance Global, with a $217 target price.

Tower Semiconductor ( NASDAQ: TSEM ) was initiated with a Buy rating at Stifel, with a $270 target price objective.

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