Five stocks stand out heading into Tuesday, September 22, 2026, each carrying a bullish rating change issued on Monday, September 21. The Federal Open Market Committee held the federal funds target range at 3.50% to 3.75% at its July 29 meeting, and the CME Group FedWatch tool still prices roughly an 80% probability that policy rates hold steady through the balance of 2026.
The five ideas below span telecom, insurance brokerage, optical networking, data-center real estate, and premium home furnishings. Editorial notes only, not investment advice.
AT&T (T) – BNP Paribas Turns Bullish on Telecom Leader
Wireless and broadband operator AT&T was upgraded from Neutral to Outperform on Monday by BNP Paribas analyst Sam McHugh, who raised his price target to $30 from $26. The thesis focuses on postpaid wireless net-additions growth remaining resilient as competitive intensity moderates, fiber-broadband build-out driving durable ARPU growth and reduced churn, and free-cash-flow conversion supporting the current dividend plus opportunistic debt reduction.
Shares traded near $25.61 during Monday's session, up about 0.85%, giving AT&T a market capitalization near $176 billion. The 52-week range of $19.89 to $29.44 shows the stock trading in the upper half of the year's range. The trailing price-to-earnings multiple sits at 8.50, and the dividend yield sits near 4%.
Consensus reads buy on the broader panel. Thirteen sell-side firms cover the name with nine bullish, three neutral, and one bearish. The average price target of $29.21 implies roughly 14% upside from Monday's level, and Keybanc's Brandon Nispel sits near the high at $36.
Risks: The panel is not uniformly aligned. TD Cowen's Gregory Williams maintained Hold at $33 on July 23 (target above current price but with a neutral stance), and Barclays' Kannan Venkateshwar downgraded to Equal-Weight at $30 in October 2025. Postpaid wireless net-additions trajectory, fiber-broadband build-out pace, and dividend-coverage trends all remain factors to monitor.
Aon (AON) – Citigroup Resumes Coverage Bullish
Global insurance brokerage leader Aon drew a resumed Buy rating on Monday from Citigroup. The thesis focuses on organic-revenue growth remaining durable across commercial risk and reinsurance solutions, NFP acquisition integration continuing to unlock middle-market cross-sell opportunities, and margin expansion holding as productivity-savings programs compound.
Shares traded near $292 during Monday's session, down about 1.23%, giving Aon a market capitalization near $62 billion. The 52-week range of $291.42 to $382.34 shows the stock trading near the low end of the year's range after a summer drawdown. The trailing price-to-earnings multiple sits at 16.07, and the dividend yield sits near 1%.
Consensus reads buy on the broader panel. Fourteen sell-side firms cover the name with 10 bullish and four neutral. The average price target of $398.14 implies roughly 36% upside from Monday's level, and Morgan Stanley's Michael Phillips sits near the high at $430 following the September 2025 upgrade to Overweight.
Risks: Not all commentary is bullish in absolute terms. Mizuho's Yaron Kinar trimmed his target to $366 from $398 on September 16 while maintaining Outperform, and Evercore ISI Group's David Motemaden trimmed his target to $423 from $436 on September 2. Organic-revenue trajectory, NFP integration execution, and reinsurance-pricing-cycle dynamics all remain factors to monitor.
Ciena (CIEN) – Evercore ISI Turns Bullish on Optical Networking
Optical networking-equipment maker Ciena was upgraded from In-Line to Outperform on Monday by Evercore ISI Group analyst Amit Daryanani, who raised his price target to $550 from $375. The thesis focuses on AI-driven datacenter-interconnect demand accelerating, cloud-provider capital-expenditure budgets continuing to expand optical-transport line-item spend, and next-generation coherent-optics product cycle (WaveLogic 6) driving average-selling-price expansion.
Shares traded near $359.25 during Monday's session, up about 3% on the upgrade catalyst, giving Ciena a market capitalization near $51 billion. The 52-week range of $133.67 to $637.51 shows the stock trading in the lower half of the year's range after a sharp summer drawdown from prior highs. The trailing price-to-earnings multiple sits at 80.23.
Consensus reads strong buy on the broader panel. Fifteen sell-side firms cover the name with 12 bullish and three neutral. The average price target of $503.47 implies roughly 40% upside from Monday's level, and the panel high sits at $660.
Risks: Even a strong-buy consensus carries dispersion. Evercore's own prior In-Line stance held from September 2025 at $120 before the sharp target reset, and hyperscaler-capex-cycle risk remains material given Ciena's customer concentration. AI-datacenter-interconnect demand pace, WaveLogic 6 product-cycle traction, and cloud-provider capital-expenditure durability all remain factors to monitor.
Equinix (EQIX) – Rothschild & Co Redburn Initiates Bullish on Data-Center REIT
Data-center real-estate investment trust leader Equinix drew a fresh Buy initiation on Monday from Rothschild & Co Redburn. The thesis focuses on interconnection revenue extending durable margin-accretive growth, xScale hyperscaler capacity build-out contributing incremental leasing volumes, and pricing power holding on retail-colocation renewals as vacancy across Tier-1 metros compresses.
Shares traded near $1,055.08 during Monday's session, up about 3.30% on the initiation catalyst, giving Equinix a market capitalization near $104 billion. The 52-week range of $720.62 to $1,128.68 shows the stock trading near the high end of the year's range. The trailing price-to-earnings multiple sits at 67.89, and the dividend yield sits near 2%.
Consensus reads strong buy on the broader panel. Twenty sell-side firms cover the name with 17 bullish and three neutral. The average price target of $1,188.85 implies roughly 13% upside from Monday's level, and Evercore ISI Group's John Belton sits at the panel high at $1,270.
Risks: Not all commentary is uniformly bullish. Barclays' Brendan Lynch maintained Equal-Weight at $1,135 on September 8, and hyperscaler-capex-cycle sensitivity remains an overhang given a portion of xScale leasing exposure. Interconnection-revenue growth trajectory, xScale leasing pace, and retail-colocation pricing durability all remain factors to monitor.
Arhaus (ARHS) – Jefferies Turns Bullish on Premium Home Furnishings
Premium home-furnishings retailer Arhaus was upgraded from Hold to Buy on Monday by Jefferies analyst Jonathan Matuszewski, who raised his price target to $10 from $9.50. The thesis focuses on showroom-productivity trends bottoming as consumer spending on premium furniture stabilizes, new-showroom-opening cadence extending unit-economics-driven top-line growth, and gross-margin recovery as tariff-cost pressures normalize across the sourcing footprint.
Shares traded near $8.73 during Monday's session, up about 12.13% on the upgrade catalyst, giving Arhaus a market capitalization near $1.2 billion. The 52-week range of $5.57 to $12.08 shows the stock trading in the upper half of the year's range. The trailing price-to-earnings multiple sits at 17.62, and the dividend yield sits near 4%.
Consensus reads buy on the broader panel. Seven sell-side firms cover the name with four bullish and three neutral. The average price target of $10 implies modest upside from Monday's level, and Stifel's W. Andrew Carter sits at the high at $11.
Risks: The panel is not uniformly aligned. Piper Sandler's Peter Keith maintained Neutral at $9 on August 7, and Morgan Stanley's Simeon Gutman maintained Equal-Weight at $10 the same day. Showroom-productivity trajectory, new-showroom-opening execution, and tariff-cost trends all remain factors to monitor.
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