Friday's Biggest Analyst Calls: Apple, Nvidia, Tesla, Alphabet, Amazon, Carvana, Chipotle & More

Here are Friday’s biggest calls on Wall Street:

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Citi Highlights Apple’s Potential with Positive Catalyst Watch
Citi placed a 90-day positive catalyst watch on Apple after the company’s earnings report on Thursday. The firm also increased its price target from $255 to $275 per share.

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The firm noted that Apple saw stronger year-over-year sales for the iPhone 16 following the release of iOS 18.2 and its Apple Intelligence features. Citi believes these enhancements indicate strong upgrade potential and that iPhones still have room for significant innovation. The firm reiterated its Buy rating and named Apple its top hardware pick for 2025.

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Piper Sandler Downgrades Hershey Over Cocoa Price Concerns
Piper Sandler lowered its rating on Hershey from Neutral to Underweight, citing worries over rising cocoa costs.

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The firm now expects elevated cocoa prices to persist longer than initially predicted, which could add pressure to Hershey’s earnings per share (EPS), particularly in 2026.

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Bernstein Maintains Bullish Outlook on Chipotle
Ahead of Chipotle’s February 4 earnings report, Bernstein reaffirmed its Outperform rating, keeping it as a top pick.

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Despite short-term market fluctuations, the firm remains optimistic about Chipotle’s ability to exceed same-store sales expectations. Factors supporting its positive outlook include improved service efficiency, the introduction of the Honey Chicken menu item, and the recovery from last year’s portion-size controversy. Bernstein also sees favorable consumer demand trends adding to Chipotle’s long-term growth potential.

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JPMorgan Reiterates Carvana as Overweight
JPMorgan kept its Overweight rating on Carvana and raised its price target from $300 to $350 per share.

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The firm believes Carvana is on track for another strong year in 2025, benefiting from continued positive earnings revisions and the potential for further valuation expansion.

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Goldman Sachs Downgrades Occidental to Sell
Goldman Sachs downgraded Occidental Petroleum from Neutral to Sell, reducing its price target from $54 to $45 per share.

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The downgrade stems from Occidental’s decision to pause shareholder capital returns until it achieves substantial balance sheet improvements. Additionally, Goldman expects the company to sell certain assets to aid in debt reduction but awaits more details on the scale and strategy of these sales.

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Baird Lowers UPS to Neutral After Earnings
Following its latest earnings report, Baird downgraded UPS from Outperform to Neutral.

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The firm cited challenges in the company’s ongoing strategic restructuring. However, it noted that UPS showed signs of regaining operational strength in the latter half of 2024, which could set the stage for a more resilient performance.

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JPMorgan Initiates Coverage on Oddity with Overweight Rating
JPMorgan began coverage on Oddity, a direct-to-consumer beauty and wellness company, assigning it an Overweight rating and setting a December 2025 price target of $55.

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The firm believes Oddity is well positioned for growth within the beauty sector.

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Telsey Sticks with Outperform Rating on Amazon
Ahead of Amazon’s February 6 earnings release, Telsey Advisory Group reaffirmed its Outperform rating.

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The firm anticipates Amazon will continue posting double-digit growth in sales and profits for the fourth quarter of 2024. This expectation is based on a strong holiday shopping season and the company’s expanding product offerings.

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Citi Maintains Buy Rating on Nvidia, Sees AI Conference as Key Catalyst
Citi reiterated its Buy rating on Nvidia, highlighting the company’s upcoming artificial intelligence (AI) conference as a major event that could drive stock momentum.

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Citi noted that Nvidia views DeepSeek’s latest AI models as a significant innovation, illustrating how AI advancements can leverage existing technologies while maintaining compliance with compute regulations.

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Mizuho Upgrades Paylocity to Outperform
Mizuho raised its rating on payroll services provider Paylocity from Neutral to Outperform, citing strong positioning in the industry.

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The firm also pointed out that Paychex’s acquisition of Paycor (PYCR) could lead to short-term disruptions in the payroll sector, potentially benefiting Paylocity.

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JPMorgan Upgrades Avery Dennison to Outperform
JPMorgan upgraded Avery Dennison, a maker of RFID tags, from Neutral to Outperform after its stock fell following UPS’s announcement of lower shipping volumes.

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The firm believes investors overreacted to the potential impact of reduced business from UPS and sees the decline as a buying opportunity.

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Bank of America Reaffirms Buy Rating on Alphabet
Bank of America reiterated its Buy rating on Alphabet, maintaining a positive outlook ahead of the company’s upcoming earnings report.

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The firm believes Alphabet is well positioned for long-term success due to its leading AI technology, which it can apply to search, YouTube, and cloud computing businesses.

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Stifel Upgrades C.H. Robinson to Buy
Stifel upgraded logistics firm C.H. Robinson from Hold to Buy following its latest earnings report.

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The firm pointed out that while cost controls, freight selection, and pricing discipline have been key to recent profitability improvements, the next test will be whether the company can sustain its recent gains as the market cycle shifts. Stifel sees the current valuation as offering a favorable risk-reward balance.

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MoffettNathanson Upgrades Electronic Arts to Buy
MoffettNathanson upgraded video game publisher Electronic Arts (EA) from Hold to Buy, citing increased earnings visibility.

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The firm highlighted that EA has historically been viewed more favorably by investors than rival Take-Two Interactive due to its clearer financial outlook.

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Bank of America Downgrades Comcast to Neutral
Bank of America lowered its rating on Comcast from Buy to Neutral, citing concerns over declining broadband growth.

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The firm noted that 2025 will be a transition year for Comcast as it seeks to stabilize its broadband business by focusing on mobile and bundled service offerings.

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