NEW YORK — Wall Street firms issued a series of analyst rating changes and new coverage initiations on July 1, 2026. Citigroup upgraded Lockheed Martin to Buy from Neutral, setting a new price target of $582, an increase from $571.

Guggenheim also announced multiple upgrades. The firm upgraded Salesforce to Buy from Neutral with a price target of $228. Additionally, Guggenheim upgraded ServiceNow to Buy from Neutral, assigning a price target of $125.

Conversely, some firms issued downgrades. RBC Capital downgraded Dow to Sector Perform from Outperform, lowering its price target from $51 to $28. Raymond James downgraded Cullen/Frost Bankers to Market Perform from Outperform but did not issue a new price target for the company. The firm also cut Truist Financial to Market Perform from Outperform, also without a new price target.

Loop Capital downgraded PROG Holdings to Hold from Buy, while maintaining its price target at $48. Wolfe Research cut Simon Property Group to Peer Perform from Outperform, providing no specific price target. Jefferies upgraded Abivax to Buy from Hold, with its price target rising to $158 from $108.

Several firms initiated new coverage. Baird began coverage of Abbott Laboratories with an Outperform rating and a $121 price target. Wedbush initiated coverage of Kratos Defense and Security Solutions with an Outperform rating and a $95 price target. Wedbush also began coverage of Space Exploration Technologies with an Outperform rating, setting a price target of $190.

Capital One initiated coverage of Seadrill with an Overweight rating, establishing a price target of $55. B. Rilet initiated coverage of Starz Entertainment with a Buy rating and a $45 price target.

Stock market indices closed mixed on Tuesday, June 30, 2026. The Dow Jones Industrial Average closed at 52,317, increasing by 0.26%. The Nasdaq Composite closed at 26,213, with a 1.52% rise. The S&P 500 closed at 7,499, up 0.79%, while the Russell 2000 closed at 3,025, rising 0.51%.

Treasury yields and commodity prices also saw movements. The 30-year Treasury bond yield closed at 4.94%, and the 10-year Treasury note yield closed at 4.45%. Brent Crude oil decreased by 0.65% to $73.43 per barrel. West Texas Intermediate crude oil decreased by 0.95%, closing at $70.08 per barrel. Natural gas futures rose 2.2% to $3.26 per MMBtu.

Precious metals experienced minor shifts at the close of June 30, 2026. Gold decreased by 0.15% to $4,010 per ounce, while silver rose 0.80% to $58.64 per ounce. Bitcoin traded at approximately $58,500 on June 30, 2026, and was quoted at $58,573 at 8 AM EDT on July 1, 2026. Ethereum traded at $1,570 at 8 AM EDT on July 1, 2026.

Why It Matters

Analyst upgrades, downgrades, and new coverage initiations can influence investor sentiment and stock performance. These changes reflect updated financial assessments and outlooks from various financial institutions for specific companies. The reported price targets provide an indication of where analysts project a stock's value may trend.