Thursday’s Biggest Analyst Calls: Nvidia, Apple, Boeing, Wells Fargo, Microsoft, Amazon & More

Here are Thursday’s biggest calls on Wall Street:

‍

‍Truist Initiates Buy Ratings for FedEx and UPS

Truist has started coverage on FedEx and UPS with buy ratings, emphasizing their strong market positions. The firm believes both companies have a competitive advantage due to their expanding retail networks, which enhance their ability to manage returns and offer third-party logistics services for small and mid-sized businesses.

‍

Citi Reiterates Boeing as a Buy

Citi reaffirmed its buy rating on Boeing, stating that the stock is undervalued at current levels. The firm believes the market is not fully accounting for Boeing’s long-term growth potential, as expectations for its free cash flow growth remain minimal.

‍

Citi Initiates BioNTech as a Buy

Citi launched coverage on BioNTech with a buy rating, citing multiple upcoming positive catalysts. The firm highlighted the company’s robust oncology pipeline, which spans three different treatment modalities, providing numerous investment opportunities.

‍

Canaccord Initiates Buy Rating for Planet Fitness

Canaccord initiated Planet Fitness with a buy rating, calling it a "growth story 33 years in the making." The firm acknowledged concerns about whether the company can return to its pre-pandemic expansion rate of over 200 new clubs annually but expressed confidence that it will happen sooner rather than later.

‍

D.A. Davidson Upgrades Microsoft to Buy

D.A. Davidson upgraded Microsoft from neutral to buy, stating that the company is best positioned for the future. The firm also raised its price target from $425 to $450, citing a more rational capital expenditure strategy and Microsoft’s superior positioning among the major tech companies in a slowing consumer market.

‍

Bank of America Reiterates Buy Rating for Marvell

Bank of America maintained its buy rating on Marvell, noting that the stock appears attractive ahead of multiple upcoming catalysts. The firm considers Marvell a top-three vendor in AI silicon, alongside Nvidia and Broadcom. It also pointed out that the stock trades at 25 times next-twelve-months price-to-earnings, below its historical median of 32 times.

‍

Bank of America Upgrades Intel to Neutral

Following the appointment of a new CEO, Bank of America upgraded Intel from underperform to neutral. The firm also raised its price target to $25, citing the CEO’s strong track record and improved turnaround prospects for the company.

‍

Barclays Downgrades American Eagle to Underweight

Barclays downgraded American Eagle from equal weight to underweight due to concerns over weakening teen spending. Additional factors influencing the downgrade include uncertainty surrounding tariffs and declining mall traffic, which may require the company to offer more promotions to maintain sales.

‍

KeyBanc Maintains Underweight Rating on Apple

KeyBanc reiterated its underweight rating on Apple, citing negative survey data on consumer spending. The firm noted that Apple’s performance is tracking below historical seasonality, with year-over-year growth shifting from positive to a steep decline. It maintained a $200 price target on the stock.

‍

JPMorgan Upgrades Iren to Overweight

JPMorgan upgraded Bitcoin mining company Iren from neutral to overweight, believing the stock has been overly punished year-to-date, having dropped around 30%. The firm sees a potential upside of 70%, which could be conservative if Iren secures a high-performance computing deal with a major tenant.

‍

Bank of America Reiterates Buy Rating for Seagate

Despite lowering its price target from $130 to $112 per share, Bank of America maintained a buy rating on Seagate. The firm sees strong industry fundamentals and believes revenue and margin forecasts could exceed consensus expectations.

‍

Wells Fargo Reiterates Overweight Rating on Micron

Wells Fargo lowered its price target for Micron from $140 to $130 per share but maintained an overweight rating. The firm sees the stock as compelling ahead of earnings, citing a disciplined supply-demand balance in the DRAM market and increasing demand from sectors like servers, PCs, 5G smartphones, and gaming consoles.

‍

Wells Fargo Reiterates Overweight Rating on Amazon

Wells Fargo encouraged investors to buy the dip in Amazon shares, noting that e-commerce remains vulnerable to macroeconomic uncertainties, including potential tariff impacts on consumer spending. However, the firm views the stock’s pullback as an attractive buying opportunity.

‍

Raymond James Initiates Outperform Rating on Mister Car Wash

Raymond James started coverage of Mister Car Wash with an outperform rating and a $10 price target, projecting a 27% upside. The firm expressed optimism about the company’s growth potential.

‍

Goldman Sachs Initiates Buy Ratings for Corteva and Mosaic

Goldman Sachs initiated coverage on several agricultural stocks, calling them "defensive" investments. The firm noted that the agriculture sector is still normalizing after the price surge caused by the Russia-Ukraine war. As a result, Goldman sees potential in defensive stocks like Corteva and Mosaic.

‍

Bernstein Reiterates Outperform Rating on Netflix

Bernstein described Netflix stock as "quality for sale" and maintained its outperform rating. The stock has dropped over 10% from its February peak following a strong fourth-quarter earnings report. Despite a recent recovery, macroeconomic uncertainties could lead to continued volatility, presenting an attractive entry point.

‍

UBS Upgrades Southern Copper to Buy

UBS upgraded Southern Copper from neutral to buy, stating that the stock offers an attractive risk-reward opportunity. The firm kept its price target unchanged at $120 per share.

‍

Morgan Stanley Downgrades Moelis & Co to Underweight

Morgan Stanley downgraded investment bank Moelis & Co from overweight to underweight, arguing that the stock has "de-rated." The firm believes Moelis is highly sensitive to earnings fluctuations and that its upside potential has diminished.

‍

Morgan Stanley Upgrades Houlihan Lokey to Overweight

Morgan Stanley upgraded Houlihan Lokey from underweight to overweight, considering it a more defensive investment. The firm highlighted the company’s strong compensation ratio management and stable revenue mix, which provide resilience during economic downturns.

‍

RBC Upgrades Wells Fargo to Outperform

RBC upgraded Wells Fargo from sector perform to outperform, citing a compelling entry point due to the recent stock price decline. The firm believes Wells Fargo has successfully addressed regulatory challenges while improving profitability under CEO Charlie Scharf’s leadership.

‍

Jefferies Reiterates Buy Rating on Nvidia

Jefferies maintained its buy rating on Nvidia, expressing optimism ahead of the company’s upcoming AI conference. The firm emphasized Nvidia’s strong position in AI and its leadership in co-packaged optics, a key technology for high-speed data transmission.

‍

‍