Thursday's Biggest Analyst Calls: NVIDIA, Apple, Costco, Amazon, Dell, Alphabet & More

Here are Thursday's top Wall Street analyst calls:

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Barclays Maintains Apple at Underweight
Barclays reaffirmed its underweight rating on Apple, predicting a "mixed at best" earnings report for late January. According to the bank, much of Apple's stock performance in 2024 was driven by multiple expansion despite a weaker-than-expected iPhone 16 launch and growing regulatory risks. They expect 2025 to start similarly, with uncertainty around the December quarter’s results.

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Morgan Stanley Upgrades Ferguson to Overweight
Morgan Stanley upgraded Ferguson from equal weight to overweight, citing improved rankings in its business model and exposure to U.S. markets. The firm noted recent underperformance in Ferguson's stock, leaving around 20% potential upside to its price target. Additionally, Morgan Stanley highlighted signs of improving end markets for the latter half of 2025.

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Morgan Stanley Upgrades Vir Biotechnology to Overweight
Morgan Stanley also raised Vir Biotechnology to overweight, pointing to encouraging clinical trial results for its VIR-5500 cancer drugs. The bank sees the early data as de-risking the company's T-cell engager platform and believes there’s potential for further positive outcomes as dose escalation progresses. They raised their price target for Vir to $20.

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Baird Reiterates Tesla as Outperform
Baird reiterated its outperform rating for Tesla but cautioned that valuation could remain a central concern among bearish investors in 2025. The firm anticipates challenges due to uncertainties in the electric vehicle maker’s outlook.

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Goldman Sachs Reiterates Amazon as a Buy
Goldman Sachs reaffirmed its buy rating on Amazon ahead of its upcoming earnings report. The firm emphasized its preference for e-commerce companies like Amazon, which cater to less discretionary categories with high repeat customer behavior. Amid volatile online spending, Amazon remains a reliable option for investors.

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Bank of America Reiterates Dell as a Buy
Following investor meetings at the Consumer Electronics Show, Bank of America reiterated its buy rating on Dell. The firm projects significant growth for Dell in 2025, driven by its AI servers and a growing traditional portfolio, which is expected to expand at least in the mid-single digits.

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Bank of America Reiterates Alphabet as a Buy
The bank also reaffirmed Alphabet as a buy, describing the company as well-positioned for long-term success. Alphabet's leading AI capabilities are seen as key drivers for its search, YouTube, and cloud businesses, making it a standout in the tech sector.

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Needham Names CyberArk a Top Pick
Needham identified CyberArk as its top pick in the cybersecurity space for 2025. The firm believes the company is well-positioned to sustain its growth momentum and has added CyberArk to its Conviction List.

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UBS Reiterates Costco as a Buy
UBS maintained its buy rating for Costco, highlighting a significant sales acceleration in December. The firm believes the retailer continues to deliver strong value, quality, and innovative offerings, making it a compelling investment.

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Evercore ISI Reiterates Nvidia as Outperform
Following Nvidia's presentation at the Consumer Electronics Show, Evercore ISI reiterated its outperform rating on the stock. The firm remains confident in Nvidia's position as a key AI ecosystem supplier, projecting that it will capture 70-80% of the value created in this computing era.

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Cantor Fitzgerald Initiates SentinelOne as Overweight
Cantor Fitzgerald initiated coverage of SentinelOne with an overweight rating and a 12-month price target of $30. The firm cited the cybersecurity company’s growing market share traction and valuation based on an 8.6x FY26E EV/Sales multiple.

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JPMorgan Reiterates Exxon Mobil as Overweight
JPMorgan maintained its overweight rating on Exxon Mobil, expressing optimism ahead of its January 31 earnings report. The bank praised Exxon’s balanced portfolio across upstream, downstream, and chemical segments, along with its resilience to dividend breakevens and potential for growth during a demand recovery.

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Goldman Sachs Upgrades Bill.com to Buy
Goldman Sachs upgraded Bill.com to buy from neutral, citing improved visibility into its growth trajectory. The firm highlighted several factors contributing to this optimism, including stronger customer acquisition trends, improved total payment volume, and potential benefits from higher business optimism in 2025.

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