Five stocks stand out heading into Monday, October 12, 2026, each carrying a bullish rating change issued on Friday, October 9. Stocks have held up well despite high borrowing costs, with the S&P 500 and Nasdaq notching record highs during the week of October 5. The 10-year Treasury yield rose to 5.28% on October 9. On October 8, Federal Reserve Vice Chair Philip Jefferson said officials may take more time before raising rates again, and as of October 9, Kalshi traders priced an 80% chance of a hold at the October 27-28 meeting. The next major test is the September Consumer Price Index, scheduled for 8:30 a.m. Eastern on October 14, as third-quarter earnings season gets underway.
The five ideas below span commercial aerospace, market exchanges, edge cloud services, managed care, and consumer credit cards. Editorial notes only, not investment advice.
Boeing (BA) – Barclays Initiates at Overweight
Boeing drew a fresh Overweight initiation on Friday from Barclays, part of a broad aerospace launch that also covered RTX, Rocket Lab, Kratos Defense, and CAE. Boeing is one of the two dominant makers of large commercial jets. In our view, steadier production rates and a large order backlog support a multiyear recovery in deliveries and cash flow.
Shares traded near $190.34 during Friday's session, up about 1.38%, giving Boeing a market capitalization near $150 billion. The stock sits closer to its 52-week low of $176.77 than its high of $254.35. The trailing price-to-earnings multiple is 82.36.
Consensus reads strong buy, with 13 bullish ratings and one neutral among 14 tracked firms. The average price target of $274.50 implies roughly 44% upside. BofA's Ronald Epstein reiterated Buy at $270 on September 18.
Risks: Some bulls have trimmed targets. TD Cowen's Gautam Khanna cut his target to $240 from $250 on October 9, and Jefferies' Sheila Kahyaoglu cut to $265 from $295 on September 21. Quality-control issues, regulatory oversight of production, and supply-chain delays all remain factors to monitor.
Cboe Global Markets (CBOE) – Morgan Stanley Makes a Double Upgrade
Cboe was upgraded two notches, from Underweight to Overweight, on Friday by Morgan Stanley analyst Michael Cyprys, who raised his price target to $358 from $258. That new target is the high end of the panel. It follows a TD Cowen upgrade to Buy on October 5. Cboe runs the largest U.S. options exchange. In our view, record options trading and market volatility tied to rate uncertainty support transaction revenue.
Shares traded near $306.63 during Friday's session, up about 4.27%, giving Cboe a market capitalization near $32 billion. The 52-week range runs from $227.15 to $371.18, the trailing price-to-earnings multiple is 23.88, and the dividend yield is near 1%.
Consensus reads buy, with four bullish, four neutral, and one bearish rating among nine tracked firms. The average price target of $319.78 implies roughly 4% upside, while the Morgan Stanley target implies about 17%.
Risks: Keefe, Bruyette & Woods' Chris Allen held Market Perform at $335 in May. A drop in trading volumes, competition from rival exchanges, and regulatory changes to options markets all remain factors to monitor.
Fastly (FSLY) – Oppenheimer Upgrades the Edge Cloud Provider
Fastly was upgraded from Perform to Outperform on Friday by Oppenheimer. Fastly runs a content delivery and edge computing network that speeds up websites and apps and protects them from attacks. In our view, AI applications that need fast responses close to users are creating new demand for edge computing.
Shares traded near $30.11 during Friday's session, up about 19.06%, giving Fastly a market capitalization near $4.7 billion. The stock has nearly quadrupled from its 52-week low of $7.74 and sits near its high of $34.82. The company is not yet profitable on a trailing basis.
This is a contrarian, speculative call. Consensus reads hold, with two bullish, four neutral, and one bearish rating among seven tracked firms. The average price target of $27.57 sits below the current price, while the panel high of $37 implies roughly 23% upside.
Risks: DA Davidson's Rudy Kessinger held Neutral at $23 on September 24. Competition from Cloudflare and Akamai, customer concentration, and the stock's large moves all remain factors to monitor.
Humana (HUM) – Baird Upgrades as Targets Climb
Humana was upgraded from Neutral to Outperform on Friday by Baird analyst Michael Ha, who raised his price target to $596 from $390. Other firms also raised targets on October 9, including Barclays' Andrew Mok to $582 and Oppenheimer's Michael Wiederhorn to $475. Humana is one of the largest Medicare Advantage insurers. In our view, improved pricing and cost trends continue to support a recovery in earnings.
Shares traded near $434 during Friday's session, up about 12.11%, giving Humana a market capitalization near $52 billion. The stock sits near its 52-week high of $456.50 and far above its low of $163.11. The trailing price-to-earnings multiple is 41.11.
Consensus reads buy, with 11 bullish, eight neutral, and one bearish rating among 20 tracked firms. The average price target of $406.65 sits below the current price, while the Baird target implies roughly 37% upside.
Risks: The stock has run well ahead of many targets. JPMorgan's Lisa Gill held Neutral at $214 in May, and UBS's A.J. Rice held Neutral at $262 in April. Medicare reimbursement rates, star ratings, and medical-cost trends all remain factors to monitor.
American Express (AXP) – BMO Capital Initiates at Outperform
American Express drew a fresh Outperform initiation on Friday from BMO Capital. American Express runs a premium card network and lends to affluent consumers and businesses. In our view, its wealthier customer base and fee-based revenue offer more stability than most lenders if the job market keeps cooling.
Shares traded near $308.05 during Friday's session, up about 0.29%, giving American Express a market capitalization near $208 billion. The stock sits near its 52-week low of $290.97 and well below its high of $387.49. The trailing price-to-earnings multiple is 18.62, and the dividend yield is near 1%.
Consensus reads buy, with eight bullish, eight neutral, and one bearish rating among 17 tracked firms. The average price target of $365.18 implies roughly 19% upside.
Risks: Several firms cut targets recently. UBS's Erika Najarian lowered her target to $345 from $384 on October 5, TD Cowen's Moshe Orenbuch held Hold at $335 on October 6, and RBC Capital's Jon Arfstrom cut to $400 from $415 on October 9. Consumer credit losses and slower card spending remain factors to monitor.
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