Friday's Biggest Analyst Calls of the Day: Apple, NVIDIA, Tesla, Dell, Chewy, Amazon, Carvana, Meta, Block & More

Here are Friday’s biggest calls on Wall Street:

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Friday brought a wave of key analyst calls and upgrades on major companies, highlighting their prospects for 2025. Here’s a roundup of the most significant recommendations from leading Wall Street firms:

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Wolfe Research: Chewy Upgraded to Outperform

Wolfe upgraded Chewy from peer perform to outperform, setting a price target of $42. The firm cited several catalysts for the pet-focused e-commerce company in 2025, including operational efficiency gains, growth in Chewy Health, the expansion of private label products, and rising advertising revenue.

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Wolfe Research: Diamondback Energy Upgraded to Outperform

Diamondback Energy was upgraded to outperform from peer perform, with Wolfe naming it a top idea for 2025. The firm highlighted the company’s strong operational track record and its position as the largest pure-play exploration and production company in the Permian Basin. Wolfe noted the recent pullback in Diamondback’s share price as an opportunity for incremental investor interest, especially compared to its smaller peers.

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Bernstein: Apple and Dell Reiterated as Top Picks

Bernstein reiterated Apple and Dell as its top investment ideas for 2025, raising Apple’s price target from $240 to $260. Both companies remain standout recommendations, with Bernstein confident in their long-term growth potential.

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Evercore ISI: Tesla Price Target Raised

Evercore ISI maintained its “in line” rating on Tesla while raising its price target from $195 to $275. The firm highlighted that a Donald Trump presidency could reduce regulatory risks for the autonomous vehicle and artificial intelligence sectors, accelerating commercialization timelines for these technologies.

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Jefferies: Las Vegas Sands Upgraded to Buy

Las Vegas Sands was upgraded from hold to buy, with Jefferies pointing to improving macroeconomic conditions in Macau as a key driver. The firm emphasized the casino and hotel giant’s strong exposure to the mass market consumer segment, which it expects will drive incremental growth in the near term.

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Evercore ISI: Microsoft Maintained at Outperform

Evercore ISI reaffirmed its outperform rating on Microsoft, noting the potential for a “mini revenge trade” in 2025. Despite its massive market capitalization, Microsoft has been relatively overlooked compared to the broader software rally, creating an opportunity for a catch-up in share performance.

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Wolfe Research: JPMorgan Upgraded to Outperform

JPMorgan was upgraded to outperform from peer perform, with Wolfe calling it a top pick for 2025. The firm highlighted the bank’s conservative net interest income guidance, well-communicated expense risks, and unmatched share gains. Wolfe sees JPMorgan as a high-quality defensive play for the year ahead.

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Wolfe Research: Amazon Named a Top Pick

Wolfe named Amazon one of its top picks for 2025, citing potential for retail margin improvement. The firm also sees significant upside from advertising revenue growth, efficiency gains, automation, and international margin expansion, placing its expectations about 3% above consensus estimates.

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Raymond James: Block Upgraded to Outperform

Raymond James upgraded Block (formerly Square) from market perform to outperform, citing sales momentum for the payment technology company. Following an in-depth analysis of its gross payment volume trends, the firm expressed increased confidence in Block’s potential acceleration through 2025.

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JPMorgan: Carvana Maintained as Overweight

JPMorgan reiterated its overweight rating on Carvana, recommending investors buy the dip following a short-selling report. While the Hindenburg Research report raised concerns about gross profit per unit and related-party loan transactions, JPMorgan remains optimistic about the online used car retailer’s prospects.

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Wedbush: PulteGroup Upgraded to Outperform

Homebuilder PulteGroup received an upgrade from neutral to outperform. Wedbush argued that the recent sell-off in Pulte’s stock was overdone and that the company is well-positioned for recovery.

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RBC: Microsoft, Adobe, and Snowflake Top Picks

RBC identified Microsoft, Adobe, and Snowflake as its top large-cap ideas for 2025. The firm noted these companies’ potential to gain market share through platform consolidation while recommending some exposure to mid-cap software names that offer a mix of growth and controversy.

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Wolfe Research: Meta Platforms Named a Top Pick

Meta Platforms was named a top idea for 2025 by Wolfe. The firm highlighted underappreciated opportunities in video unification, multiple product catalysts (including Threads, Business Messaging, and Meta AI), and a potential TikTok divestiture.

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Susquehanna: J.B. Hunt Upgraded to Positive

Susquehanna upgraded J.B. Hunt from neutral to positive, signaling optimism that the freight recession, which has weighed on the industry for nearly three years, could be ending. The firm sees a potential recovery moving into 2025 and a return to mid-cycle conditions in 2026.

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Wedbush: Nvidia Maintained at Outperform

Wedbush reiterated its outperform rating on Nvidia as the company prepares to unveil updates at the upcoming Consumer Electronics Show. Nvidia’s data center AI business continues to dominate, but new gaming hardware could spur a refresh cycle in the PC gaming market, benefiting other industry players.

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