Melius Research
Melius Research is a New York-based independent research and data analytics firm, founded by industrials analysts, covering industrials, technology, consumer, energy and power stocks.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 4012M
- Actions
- 6112M
- Ratings / Price targets
- 12 / 49
- Upgrades / Downgrades
- 4 / 1
- Buy-rated
- 91%of 11 rated
- Median upside
- +28.2%
- Targets raised / lowered
- 14 / 4
- On record
- Feb 2020 – Sep 2026
Overview
Melius combines research on themes that span sectors with fundamental analysis of industrials, technology, consumer, energy and power companies. It is a registered investment adviser and does not conduct investment banking. The firm emphasizes small-group meetings and company tours as part of its corporate access offering.
Scott Davis, its chairman and CEO, founded Melius in New York in October 2017 with fellow ranked Barclays analysts Carter Copeland and Rob Wertheimer and senior salespeople, initially covering aerospace and defense, machinery and multi-industry stocks. Since 2021 it has supplied research services to Guggenheim Securities under a retainer, without sharing in banking fees. Ben Reitzes joined in 2023 to build a technology practice; by February 2026 headcount and coverage had doubled and he became the first non-founder partner.
Milestones
- 2017
Founded in New York by former Barclays industrials analysts
- 2021
Research services agreement with Guggenheim Securities begins
- 2023
Ben Reitzes joins to lead technology research
- 2026
Reitzes becomes first non-founder partner
Firm facts
- Legal name
- Melius Research LLC
- Type
- Independent research
- Founded
- 2017
- Headquarters
- New York, United States
- Chairman and CEO
- Scott Davis
- Rating scale
- BuyHoldSellTypically 2 years
- Website
- meliusresearch.com
Research philosophy
We see two categories of mistakes one can make in the investment selection process: errors of omission and errors of judgment.
Melius combines thematic research across sectors with fundamental company analysis. Since its launch in 2017, the firm has emphasized spending on data acquisition and analytics, alongside bottom-up fieldwork at less widely attended trade shows and private companies. It argues that such work has become less common as analysts have taken on larger coverage lists.
Rating methodology
Stocks are rated Buy, Hold or Sell relative to the S&P 500 over a horizon of typically two years. It justifies its long rating horizon by arguing that mispricings become more pronounced over time.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Advanced Micro Devices, Inc.AMD | Buy | $660 |
 NVIDIA CorporationNVDA | Buy | $420 |
 Apple Inc.AAPL | Buy | $345 |
 Marvell Technology, Inc.MRVL | Buy | $220 |
 Dell Technologies Inc.DELL | Buy | $735 |
 Intel CorporationINTC | Buy | $150 |
 American Airlines Group Inc.AAL | Hold | $19 |
 CoreWeave, Inc. Class A Common StockCRWV | Buy | $140 |
 Cisco Systems, Inc.CSCO | Buy | $79 |
 Eaton Corporation plcETN | Buy | $495 |
Most active analysts
- Ben Reitzes17 notesNVDADELLAAPL
- Conor Cunningham7 notesAALUBERALGT
- Scott Davis3 notesJCIROPTT
- James West3 notesBPETTLN
- Scott Mikus2 notesHONAWWD
- Rob Wertheimer2 notesAMEIR
Recent actions
| Date | Stock | Rating action | Rating | Target | Analyst |
|---|---|---|---|---|---|
| Sep 22 | ETEnergy Transfer LPET | Target | $25 | James West | |
| Sep 22 | EPEnterprise Products Partners L.P.EPD | Target | $42 | ||
| Sep 18 |  Dutch Bros Inc.BROS | Reiterate | Buy | $70 | |
| Sep 14 | HEHEICO CorporationHEI | Target | $350 | ||
| Sep 14 | GEGE AerospaceGE | Target | $350 | ||
| Sep 14 |  Honeywell Aerospace IncHONA | Target | $190 | Scott Mikus | |
| Sep 14 | TDTransDigm Group IncorporatedTDG | Target | $1,331 | ||
| Sep 14 | WWWoodward, Inc.WWD | Target | $388 | Scott Mikus | |
| Sep 2 | Dell Technologies Inc.DELL | Reiterate | Buy | $565 →$735 | Ben Reitzes |
| Aug 27 | NVIDIA CorporationNVDA | Target | $400 →$420 | Ben Reitzes |