Wolfe Research
Wolfe Research, LLC
Wolfe Research is a New York-based independent equity research firm founded by Ed Wolfe in 2008. It covers every major US sector alongside macro and quantitative research.
Company history
Ed Wolfe, Institutional Investor's No. 1 airfreight and surface transportation analyst at Bear Stearns, founded the firm in April 2008 after Bear's collapse, starting with about ten employees. It operated as Wolfe Trahan & Co. from 2010, when strategist François Trahan joined, until reverting to the Wolfe Research name in 2013. A strategic alliance with Nomura and Instinet, launched in July 2020 and extended in 2023 to at least 2030, added execution and capital-markets capabilities.
- 2008Founded by Ed Wolfe after Bear Stearns collapse
- 2010Renamed Wolfe Trahan & Co. as François Trahan joins
- 2013Reverts to the Wolfe Research name
- 2020Strategic alliance with Nomura and Instinet
- 2023Nomura alliance extended to at least 2030
- 2024Daire Browne joins as global head of research
Research
Coverage spans industrials, utilities and energy, consumer and retail, financials and REITs, healthcare and TMT, alongside macro and quantitative research. Wolfe ranked sixth in the commission-weighted analyst table of Extel's 2025 All-America Research survey. Stocks are rated Outperform, Peer Perform or Underperform against the analyst's industry coverage universe over 12 months; Peer Perform names carry no price target.
Coverage12M
- Stocks
- 415
- Ratings
- 308
- Price targets
- 407
- Median upside
- +20.3%
- Upgrades
- 84
- Downgrades
- 89
- Initiations
- 33
- Reiterations
- 102
- Targets raised
- 141
- Targets cut
- 70
- Positive62%157
- Neutral30%77
- Negative8%20
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 MUMicron Technology, Inc. | Peer Perform | $1,500 |
 NFLXNetflix, Inc. | Outperform | $107 |
 TGTTarget Corporation | Outperform | $169 |
 AMZNAmazon.com, Inc. | Outperform | $315 |
 FIVEFive Below, Inc. | Peer Perform | $242 |
 FLYWFlywire Corporation | Outperform | $23 |
 OTISOtis Worldwide Corporation | Peer Perform | $109 |
 RELYRemitly Global, Inc. | Outperform | $32 |
 AMDAdvanced Micro Devices, Inc. | Outperform | $450 |
 CPAYCorpay, Inc. | Outperform | $530 |
Analysts24M
- Darrin PellerCHYM · FIS · FLYW26
- Doug LeggateEXE · BP · TTE19
- Steven ChubakKKR · ARES · MS18
- Alex ZukinMSFT · INTU · TEAM17
- Chris CasoMU · NVDA · AMD13
- Shweta KhajuriaAMZN · TTD · DASH13
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| ETEtsy, Inc.ETSY | Downgrade | Peer Perform →Underperform | Sep 18 | |
| ZYZymeworks Inc.ZYME | Initiate | Outperform | Sep 17 | |
| RYRhythm Pharmaceuticals, Inc.RYTM | Initiate | Outperform | Sep 17 | |
| VSVerastem, Inc.VSTM | Initiate | Outperform | Sep 17 | |
| TSTaysha Gene Therapies, Inc.TSHA | Initiate | Outperform | Sep 17 | |
 Paychex, Inc.PAYX | Upgrade | Underperform →Peer Perform | Sep 16 | |
| GWW.W. Grainger, Inc.GWW | Initiate | Peer Perform | Sep 15 | |
| PNPentair plcPNR | Upgrade | Peer Perform →Outperform | $135 →$91 | Sep 15 |
 Coinbase Global, Inc.COIN | Downgrade | Underperform | Sep 14 | |
| CHCharter Communications, Inc.CHTR | Target | $621 →$118 | Sep 14 | |
| AFAffirm Holdings, Inc.AFRM | Target | $90 | Sep 14 |
Similar coverage12M
References
- Wolfe Research – Ed Wolfewolferesearch.com
- Wolfe Research – Daire Brownewolferesearch.com
- Nomura and Wolfe Research Agree to Long-Term Extension of Strategic Alliance (Feb 2023)nomuraholdings.com
- Integrity Research – Macro Upheaval (May 2013)integrity-research.com
- Wolfe Research report with Fundamental Stock Ratings Key (March 2026)wolferesearch.com
- J.P. Morgan Stays Top of Extel's All-America Equities Research Table (Oct 2025)einpresswire.com