Tuesday brought a fresh batch of analyst coverage initiations, with Wall Street research teams planting their flags on four companies across fintech, aerospace data, medical devices, and biotech sectors.

Leading the bullish sentiment, HC Wainwright analyst Scott Buck launched coverage on Spire Global Inc. (SPIR) with a Buy rating and a $14 price target. That target implies roughly 70% upside from Monday's closing price of $8.21, suggesting Buck sees significant value in the space-based data company.

The firm also made another bullish call, with analyst Mitchell S. Kapoor initiating coverage on Evommune Inc. (EVMN) with a Buy rating and a $35 price target. Given that Evommune shares closed at $15.37 on Monday, that target represents more than a doubling of the stock price if realized.

Not every initiation came with fireworks, though. Keybanc analyst Alex Markgraff started coverage on Wealthfront Corp (WLTH) with a Sector Weight rating, which is essentially analyst-speak for "we're neutral here." Wealthfront, the automated investing platform, closed at $13.65 on Monday.

Rounding out the day's coverage launches, BTIG analyst Ryan Zimmerman initiated on Enovis Corp (ENOV) with a Buy rating and a $41 price target. With Enovis shares closing at $27.01 on Monday, that target implies approximately 52% upside for the medical technology company.

The cluster of initiations reflects analysts staking out positions on companies that may have been under-covered or are drawing renewed interest. Buy ratings on three of the four stocks suggest these analysts see more upside than downside, though of course, price targets are educated guesses rather than guarantees.

For investors considering any of these names, it's worth remembering that new coverage initiations often reflect an analyst's first deep dive into a company. Sometimes they spot opportunities the market has missed. Other times, well, the market had it right all along.