In today’s stock market environment, investors' minds often go to one specific theme when thinking about the “most upgraded” stocks among analysts: data centers and AI. This certainly makes sense, given the overwhelming presence of this theme that seems to leave little air left in the room for other industries.
However, in July, three stocks that investors may not expect were among MarketBeat’s most upgraded names, having no or limited direct exposure to the AI theme.
PayPal: Acquisition Offer Sends Shares Soaring
First up is a name that has experienced significant ups and downs in 2026, PayPal (NASDAQ: PYPL). Earlier in 2026, PayPal shares were down as much as 35%. The stock’s rough start was largely due to its February earnings report, where the firm guided for slightly negative to slightly positive earnings per share (EPS) growth in 2026. Meanwhile, the market expected substantially positive EPS growth.
This, along with PayPal announcing a new CEO, tanked shares over 20% in one day. PayPal shares remained down in the dumps until July, when the stock rocketed up over 32% in one month.
This came as a group of investors wants to pay up for the payments giant. Payments company Stripe, along with private equity firm Advent International, offered to acquire PayPal for approximately $53 billion, or $60.50 per share.
With that price well above PayPal’s share price at the time, the stock soared on this news. The development not only means PayPal investors could eventually get bought out, but also provides evidence of undervaluation. Overall, MarketBeat tracked more than 10 price target increases in July following this news, along with multiple rating increases.
PayPal says the current offer for the company is too low, creating the potential that Stripe and Advent could come back with a stronger proposition.
Texas Instruments Posts Strong Industrials Growth; Data Centers Add a Tailwind
Next up is Texas Instruments (NASDAQ: TXN). While it is a semiconductor company and is generating data center-driven growth, Texas Instruments is far from the first chip stock investors think of when it comes to AI.
The stock has put up impressive gains in 2026, generating a total return of over 60%. Its approximately 2% dividend yield isn’t too shabby either, being among the highest of any chip stock and providing a meaningful return stream.
The company’s latest earnings report was filled with positives. Texas Instruments beat estimates on sales by over $200 million and grew at nearly 23% year-over-year (YOY), with its large industrial end market growing by 30% YOY. The firm also substantially exceeded EPS estimates, and data center revenue doubled YOY.
However, data centers are a relatively small business for Texas Instruments, accounting for just 9% of total sales in 2025. TI also experienced a strong gross margin expansion of 340 basis points, moving the figure to 61%. The report clearly impressed analysts, with MarketBeat tracking more than 10 price target increases afterward.
J.B. Hunt Catches a Bid on Intermodal Strength and Cost-Cutting
J.B. Hunt Transport Services (NASDAQ: JBHT) also curried a significant amount of favor among analysts in July. The stock posted its largest single-day gain of the year halfway through the month, rising over 8%. This added to the stock’s already strong run prior to this, with shares now up more than 35% in 2026. This came after J.B. Hunt released a much better-than-expected Q2 earnings report. The company’s revenue rose 19% YOY, good for its highest growth rate in nearly four years. J.B. Hunt also displayed significant operating leverage, with operating income rising by 32% YOY.
J.B. Hunt combined higher shipping volumes with cost-cutting to achieve this. Its intermodal business line particularly impressed. Here, the company ships containers using a combination of trains and trucks. It noted that intermodal volumes rose 10% YOY to 578,000 loads, which set a quarterly record.
Meanwhile, J.B. Hunt cut its structural costs by $135 million over the past year. These factors helped J.B. Hunt secure over 10 analyst price target increases, as well as multiple ratings boosts, the majority of which came after its strong report.
Notably, J.B. Hunt sees more runway to reduce costs and expand its intermodal business, given rising trucking rates and fuel costs. The company’s ability to execute on these opportunities and increase intermodal pricing are key watch items for 2027.
Texas Instruments: Can Automotive Chip Recovery Continue Picking Up Steam?
Analysts continue to show confidence in Texas Instruments' outlook, with the MarketBeat consensus price target near $312, implying approximately 10% upside in shares. One factor that could lead to even more optimism going forward is a continued recovery of its automotive segment.
That market was in a downturn for some time and began to rebound last year. The company noted that growth accelerated in Q2 2026, with sales rising by a mid-teens percentage. Because automotive sales accounted for 33% of total revenue in 2025, a further uptick in growth could have a significant impact on the firm's bottom line. This makes acceleration in automotive sales a key factor to watch, potentially leaving TI with three business lines growing by more than 20%.
The article "These 3 Most-Upgraded Stocks Have Almost Nothing to Do With AI" first appeared on MarketBeat.
