Barclays
May 15, 2026
Americas Morning Research Summary
Market ReportEquitiesRates CreditInformation TechnologyHealth Care
A comprehensive daily summary of Barclays' Americas equity research, featuring multiple rating and price target changes across Tech, Healthcare, and Industrials. Key focus areas include the ongoing AI infrastructure buildout and recent earnings results from major caps like Cisco and Applied Materials.
Key Takeaways
- 1.Rating downgrades for Doximity (DOCS) and Phreesia (PHR) from Overweight to Equal Weight due to slowing digital advertising growth and intensifying competition.
- 2.Substantial price target increases for semiconductor and networking equipment firms including Applied Materials (to $500), Nova Limited (to $600), and Cisco Systems (to $121) driven by AI buildout momentum.
- 3.Mixed results in Healthcare clinical trials; Biogen's Phase 2 Alzheimer's data missed primary endpoints but showed cognitive benefits, leading to planned Phase 3 progression.
Table of Contents
- Summary of Changes
- Company Research
- Industry Research
- Publications Summary
- Consumer
- Energy
- Financial Services
- Healthcare
- Industrials
- Technology
- Thematic Investing
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Authors
Benjamin M. TheurerTheresa ChenRaimo Lenschow
Securities
AMATCSCODOCSVRT
Themes
AI Infrastructure ExpansionDigital Advertising HeadwindsPost-Earnings Volatility and Sector Differentiation
Regions
North AmericaEuropeAsia PacificUnited StatesMexicoCanada