Five stocks stand out heading into Thursday, September 24, 2026, each carrying a bullish rating change issued on Wednesday, September 23. The backdrop has shifted: on September 16, the Federal Open Market Committee voted 12-0 to raise the federal funds target range by 25 basis points to 3.75% to 4.00%, its first increase since July 2023. The median projection now points to one more quarter-point hike before the end of 2026, and the next meeting is scheduled for October 27-28. Higher-for-longer rates favor companies with strong balance sheets, pricing power, and visible cash flow, and that lens shaped this week's list.
The five ideas below span enterprise software, integrated energy, hospital operators, paperboard packaging, and outdoor equipment. Editorial notes only, not investment advice.
Microsoft (MSFT) – Stifel Moves to Buy on Cloud and AI Durability
Microsoft was upgraded from Hold to Buy on Wednesday by Stifel analyst Brad Reback, who raised his price target to $575 from $530. In our view, the bull case rests on Azure cloud growth, the monetization of AI tools across the Office and developer franchises, and a balance sheet that lets the company keep funding data-center expansion without leaning on credit markets, which matters more now that rates are rising again.
Shares traded near $499.55 during Wednesday's session, up about 0.31%, giving Microsoft a market capitalization near $3.71 trillion. The 52-week range runs from $349.20 to $553.72, and the trailing price-to-earnings multiple sits at 27.82.
Consensus reads strong buy. Thirty-one of 32 tracked ratings are bullish, and the average price target of $567.88 implies roughly 14% upside. Other firms have also raised targets recently: Cantor Fitzgerald's Thomas Blakey lifted his to $608 on September 21, and Oppenheimer's Brian Schwartz moved to $570 on September 22.
Risks: The stock still trades about 10% below its 52-week high, and the low price target of $480 sits beneath the current price. Heavy AI capital spending, pressure on cloud margins, and a higher discount rate for long-duration growth stocks all remain factors to monitor.
BP (BP) – JPMorgan Turns Bullish on the Energy Major
BP was upgraded from Neutral to Overweight on Wednesday by JPMorgan. Energy has been a key driver of the inflation pressure that pushed the Federal Reserve to hike, and integrated producers with large upstream exposure stand to benefit if oil prices stay elevated. BP also offers one of the higher yields in the group.
Shares traded near $44.26 during Wednesday's session, up about 2.68%, giving BP a market capitalization near $116 billion. The 52-week range runs from $32.72 to $48.27, the trailing price-to-earnings multiple sits at 21.49, and the dividend yield is near 5%.
This is a contrarian call relative to the broader panel. Consensus reads hold, with two bullish, five neutral, and one bearish rating among eight tracked firms. The average price target of $45.66 implies only about 3% upside, though Scotiabank's Paul Cheng holds the high target of $58 with Sector Outperform.
Risks: Most of the panel remains on the sidelines. Piper Sandler's John Royall kept Neutral at $46 on September 3, and Wells Fargo's Sam Margolin kept Equal-Weight at $48 on August 5. Oil-price volatility, execution on the company's strategic reset, and the durability of its shareholder payouts all remain factors to monitor.
HCA Healthcare (HCA) – BMO Initiates at Outperform
HCA Healthcare drew a fresh Outperform initiation on Wednesday from BMO Capital. As the largest U.S. for-profit hospital operator, HCA benefits from scale in purchasing, labor management, and payer negotiations. Healthcare demand tends to hold up regardless of the rate cycle, which makes the group comparatively defensive.
Shares traded near $436.84 during Wednesday's session, down about 0.29%, giving HCA a market capitalization near $95 billion. The 52-week range runs from $353.99 to $556.52, and the trailing price-to-earnings multiple sits at 14.61, a modest multiple for a market leader.
Consensus reads buy, with 14 bullish, six neutral, and one bearish rating among 21 tracked firms. The average price target of $472.57 implies roughly 8% upside. Leerink Partners' Whit Mayo maintained Outperform at $492 on September 18.
Risks: The stock trades well below its 52-week high. JPMorgan's Benjamin Rossi cut his target to $425 from $490 on August 20 while holding Neutral. Changes in Medicaid and exchange-plan enrollment, labor costs, and policy uncertainty around reimbursement all remain factors to monitor.
Graphic Packaging (GPK) – JPMorgan Upgrades a Beaten-Down Name
Paperboard packaging maker Graphic Packaging was upgraded from Neutral to Overweight on Wednesday by JPMorgan analyst Detlef Winckelmann, who also trimmed his price target to $11.50 from $12.50. A target cut paired with an upgrade suggests the call is mainly about valuation after a steep decline, not about better near-term fundamentals.
Shares traded near $9.78 during Wednesday's session, up about 2.20%, giving the company a market capitalization near $2.9 billion. The stock sits just above its 52-week low of $8.79 and roughly half its high of $19.71. The trailing price-to-earnings multiple is 14.83, and the dividend yield is near 4%.
Consensus reads hold, with one bullish, six neutral, and one bearish rating among eight tracked firms. The average price target of $12.06 implies roughly 23% upside, while JPMorgan's own target implies about 18%.
Risks: This is the most speculative idea on the list. Wells Fargo's Gabe Hajde carries Underweight at $11, and B of A Securities' George Staphos trimmed to $13 on September 11 while holding Neutral. Weak consumer packaged-goods volumes, paperboard pricing, and leverage in a rising-rate environment all remain factors to monitor.
Toro Company (TTC) – Oppenheimer Initiates at Outperform
Toro, which makes turf, landscaping, snow, and irrigation equipment, drew a fresh Outperform initiation on Wednesday from Oppenheimer. The professional segment, which serves golf courses, municipalities, and contractors, has historically been steadier than the residential business and supports the company's margin profile.
Shares traded near $96.31 during Wednesday's session, up about 1.89%, giving Toro a market capitalization near $9.2 billion. The 52-week range runs from $67.64 to $105.19, the trailing price-to-earnings multiple sits at 25.72, and the dividend yield is near 2%.
Coverage is thin. Among three tracked ratings, one is bullish and two are neutral, and the average price target of $101.67 implies roughly 6% upside. DA Davidson's Michael Shlisky holds the high target of $115 with a Buy rating as of September 4.
Risks: Baird's Timothy Wojs maintained Neutral at $100 on June 5, close to the current price. Higher borrowing costs could weigh on dealer inventories and big-ticket residential purchases, and weather-driven demand swings remain factors to monitor.
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