Thursday's Biggest Analyst Calls: Nvidia, Apple, Tesla, Ferrari, Qualcomm, Microsoft & More

Here are Thursday’s biggest calls on Wall Street:

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Wells Fargo Maintains Overweight Rating on Arm
Following Arm’s earnings report on Wednesday, Wells Fargo reaffirmed its positive stance on the stock. While the firm anticipates a short-term pause in share movement, it remains optimistic about the company’s future outlook and its ability to capitalize on opportunities in the artificial intelligence (AI) space. The price target remains set at $185.

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Goldman Sachs Reiterates Buy Rating on Disney
Goldman Sachs expressed growing confidence in Disney’s stock after its latest earnings release. The firm noted that Disney’s fiscal first-quarter results outperformed expectations, with management reaffirming their projection of high single-digit earnings per share (EPS) growth for fiscal 2025. Furthermore, Goldman highlighted management’s increased confidence in the company’s financial trajectory.

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Morgan Stanley Continues to View Nvidia as a Top Investment
Morgan Stanley reiterated its bullish outlook on Nvidia, urging investors to take advantage of the stock’s recent dip. The firm emphasized that the DeepSeek selloff presents a strong buying opportunity, reaffirming Nvidia as a top investment choice.

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Stifel Downgrades Skyworks to Neutral
Following the company’s earnings report, Stifel downgraded Skyworks from buy to neutral due to concerns over losing business from Apple. The firm noted that Apple is shifting to a dual-source strategy for a key component, likely incorporating Broadcom as an additional supplier. As a result, Skyworks has lost exclusive supply rights for this previously single-sourced component.

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Bernstein Lowers Cigna to Market Perform
Bernstein downgraded Cigna’s stock rating to market perform, citing weaker performance in its employer stop-loss segment. Additionally, uncertainty surrounding pharmacy benefit management (PBM) policies is expected to create challenges, making it harder for the stock to outperform in the near term.

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JPMorgan Maintains Overweight Rating on Qualcomm
Despite lowering its price target from $200 to $195, JPMorgan reiterated its support for Qualcomm’s stock after its earnings report. The firm highlighted that the company is executing well across multiple segments, including handsets, automotive, and the Internet of Things (IoT), all of which continue to exceed investor expectations.

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Daiwa Reaffirms Buy Rating on Microsoft
Daiwa raised Microsoft’s price target from $520 to $533, despite noting that its January earnings report was underwhelming. However, the firm believes the stock’s long-term outlook remains strong, as any recent negative factors appear to have already played out, creating a solid entry point for investors.

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Daiwa Reiterates Buy Rating on Apple
Daiwa adjusted its price target for Apple from $275 to $270 but remains optimistic about the company’s position in the AI revolution. While Apple is well-positioned for the industry’s next big transformation, Daiwa noted that more compelling AI-driven applications are needed to spark a long-term upgrade cycle for iPhones and MacBooks, which is expected to begin later this year and extend into 2026.

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Deutsche Bank Begins Coverage of Ferrari with a Hold Rating
Deutsche Bank initiated its coverage of Ferrari with a hold rating, acknowledging the company’s strong brand, robust financials, and solid order backlog. However, the firm believes these strengths are already fully reflected in the stock’s valuation.

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Evercore ISI Upgrades CarMax to Outperform
Evercore upgraded CarMax’s rating to outperform from in-line, citing improving market trends for the used car retailer. The firm set a base case price target of $110.

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Bernstein Begins Coverage of Walmart with an Outperform Rating
Bernstein initiated Walmart as its top retail pick, assigning an outperform rating and a price target of $106. The firm believes Walmart’s ability to leverage its scale will allow it to provide consumers with strong value while growing its e-commerce division profitably.

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Bernstein Initiates Costco with an Outperform Rating
Bernstein sees significant growth potential in Costco’s international expansion, which it believes has been underappreciated by investors. The firm assigned an outperform rating and a $1,058 price target, expecting consistent earnings growth over the long term.

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Wolfe Research Maintains Peer Perform Rating on Tesla
Wolfe Research remains cautious on Tesla, citing challenges surrounding its upcoming Robotaxi launch in June. While the firm expects Tesla to introduce a rideshare service in Austin as planned, it believes key service metrics will become a focal point for investors post-launch.

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Cantor Fitzgerald Initiates AST SpaceMobile with an Overweight Rating
Cantor initiated coverage of AST SpaceMobile with an overweight rating and a $30 price target, highlighting its strategic partnerships with major telecom and tech companies. The firm also sees potential opportunities in the defense sector and believes its supply chain is well-positioned for growth despite high cash consumption.

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JPMorgan Initiates Coverage of JAMF Holdings with an Overweight Rating
JPMorgan sees JAMF Holdings as well-positioned to benefit from increased adoption of Apple devices in enterprise settings. The firm assigned an overweight rating, citing its leading technology for device management and security solutions.

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Bank of America Reiterates Buy Rating on Block
Bank of America continues to view Block as one of its top payment picks for 2025.

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Evercore ISI Issues Tactical Outperform on Carvana
While keeping its overall rating at in-line, Evercore issued a tactical outperform call on Carvana ahead of its upcoming earnings. The firm sees upside potential for the stock, expecting it to trade in the $280-$290 range on the back of strong fourth-quarter results and upward revisions in both retail used unit sales and EBITDA.

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Bank of America Maintains Buy Rating on Ford
The firm reaffirmed its buy rating on Ford following its earnings report. Bank of America expects Ford’s financials to improve due to a strong product cycle in North America, benefits from its global restructuring efforts, and a broader recovery in the global automotive industry.

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Citi Puts Hanesbrands on a Positive Catalyst Watch
Citi remains neutral on Hanesbrands but believes consensus EPS estimates for fiscal 2025 are too low, prompting it to place the stock on a positive catalyst watch.

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DA Davidson Adds Coty to Top Ideas List
DA Davidson reaffirmed its buy rating on Coty and added the stock to its "Stampede" top ideas list. The firm noted that after facing challenges following its acquisition of Procter & Gamble’s beauty division in 2016, Coty has been stabilizing and positioning itself for stronger growth.

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