T-Mobile, First Solar, Occidental Petroleum Earn Key Analyst Upgrades

A number of prominent Wall Street firms upgraded ratings on key U.S. stocks last week, identifying opportunities in companies they argue have been mispriced by the market or possess unappreciated fundamental strengths.

BofA Upgrades T-Mobile on Market Position

BofA Securities raised its rating on T-Mobile US (TMUS) to Buy from Neutral on Monday, maintaining a $220 price objective. The firm stated that the market is overestimating competitive threats from low Earth orbit (LEO) satellite internet providers.

According to BofA, T-Mobile's dominant 50% market share in dense urban areas insulates it from LEO disruption, where satellite signals face significant limitations. The bank also noted that T-Mobile's lower-priced legacy plans provide it with significant pricing flexibility, supporting its growth forecasts for average revenue per account (ARPA).

First Solar Seen as 'Mispriced' After Sell-off

On Tuesday, Deutsche Bank upgraded First Solar (FSLR) to Buy with a $272 price target. The analyst cited the stock's recent 27% collapse as a key factor, creating what the bank calls a "mispriced entry point" for investors.

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Deutsche Bank highlighted the solar panel manufacturer's strong balance sheet, which includes a $2.1 billion net cash position. The firm believes the stock's valuation discount to its clean-tech peers is unwarranted and will narrow as the earnings cycle normalizes and regulatory certainty around tariff policies improves.

Occidental, Five Below, and Toll Brothers Also Upgraded

Other notable calls during the week included upgrades for the energy, retail, and homebuilding sectors:

• Occidental Petroleum (OXY): Evercore upgraded the energy producer to Outperform with a $65 price target. The firm's thesis centers on Occidental's de-levered balance sheet and a "structural step-up in capital efficiency" that is improving its free-cash-flow profile.
• Five Below (FIVE): Mizuho raised the discount retailer to Outperform with a $220 price target, arguing that a recent 30% drop in the share price was an overreaction. The firm pointed to strong underlying store economics and effective social media engagement as drivers of future performance.
• Toll Brothers (TOL): Ahead of homebuilder earnings, Citi upgraded the luxury builder to Buy, setting a $176 price target. Citi's call is a bet on the resilience of the high-end housing market, noting Toll Brothers' unique position as a luxury pure-play and its attractive valuation at just 1.3x its forward price-to-tangible-book-value.