The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.

Top 5 Upgrades:

• Argus upgraded Oracle (ORCL) to Buy from Hold with a $145 price target after its Q3 earnings beat. The quarter marked the first time when rapidly growing cloud revenue crossed over to become a higher proportion of revenue than the company's legacy license support revenue, the firm tells investors in a research note.

• Daiwa upgraded Goldman Sachs (GS) to Outperform from Neutral with a price target of $430, up from $410. The firm says the bank's negative catalysts have largely played out given its progress with restructuring in consumer operations and the recording of impairment losses on office real estate investments.

• Goldman Sachs upgraded Citi (C) to Buy from Neutral with a $68 price target, implying 18% upside. The firm sees a "realistic path" to a 9.5% return on average tangible common equity in fiscal 2026, above consensus expectations.

• Bernstein upgraded Instacart (CART) to Outperform from Market Perform with a price target of $43, up from $30. The firm left the company's Q4 earnings report with a more favorable view of the stock as it sees room for Instacart's gross transaction value growth to exceed consensus expectations.

• Wedbush upgraded Jack in the Box (JACK) to Outperform from Neutral with a price target of $88, up from $79. The firm believes Jack in the Box's current 45% discount to franchised quick service restaurant peers and 21% discount to its own five-year pre-COVID median multiple "is an overly pessimistic assessment" of management's ability to deliver on same-store-sales growth and unit growth targets.

Top 5 Downgrades:

• Evercore ISI downgraded Under Armour (UA) to Underperform from In Line with a price target of $7, down from $8, after the company announced that founder Kevin Plank will return as CEO, replacing Stephanie Linnartz, who joined last February. Plank's return is a "clear signal" that Under Armour's strategy isn't working and supports the firm's field work showing key performance indicators continue to deteriorate in the current quarter, Evercore argues. Exane BNP Paribas and Williams Trading also downgraded the stock but to Neutral-equivalent ratings.

• Citi downgraded Chubb (CB) to Neutral from Buy with a price target of $275, up from $238. The firm believes the outlook for Chubb is adequately reflected in the shares, creating a more balanced risk/reward.

• RBC Capital downgraded Spruce Biosciences (SPRB) to Sector Perform from Outperform with a price target of $2, down from $9. The company reported a CAHmelia-203 topline miss, with tildacerfont failing to achieve the primary endpoint, the firm tells investors in a research note. Leerink, Guggenheim, H.C. Wainwright, and Ladenburg also downgraded Spruce Biosciences to Neutral-equivalent ratings.

• Raymond James downgraded Paymentus (PAY) to Market Perform from Outperform without a price target. The firm sees a "much more balanced" risk/reward profile following the stock's recent rally.

• Wells Fargo downgraded UGI Corporation (UGI) to Equal Weight from Overweight with a price target of $28, up from $27. With momentum from the strategic review and "constructive" fiscal Q1 update, the risk/reward on the shares is more balanced at these levels, the firm argues.