Thursday’s Biggest Analyst Calls: NVIDIA, Apple, Tesla, IBM, Meta, Servicenow, Microsoft & More

Here are Thursday’s biggest calls on Wall Street:

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JPMorgan Remains Bullish on Texas Instruments
JPMorgan reaffirmed its “overweight” rating on Texas Instruments after the company’s solid earnings, though the firm lowered its price target from $230 to $195. The bank cited a strong first-quarter performance, noting the company exceeded expectations on revenue, profit margins, and earnings. Additionally, its outlook for the second quarter was described as “solid.”

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Bank of America Still Backs IBM
Following IBM’s recent earnings report, Bank of America reiterated its “buy” rating. Analysts view IBM as a stable, defensive stock with a growing revenue base. This improvement in revenue is seen as a key driver of increased cash flow, which the company can use for acquisitions, ultimately fueling long-term structural growth.

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Goldman Sachs Lifts Target on ServiceNow
Goldman Sachs maintained its “buy” rating on ServiceNow and raised its price target from $1,050 to $1,150. The firm pointed to the company’s impressive first-quarter results, which surpassed expectations across the board.

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Bernstein Sees AT&T as a Safe Bet
Bernstein reaffirmed its “outperform” rating for AT&T, describing the telecom giant as a “safe haven” stock after earnings. The firm was encouraged by a rise in subscriber numbers, increased bundling of services, and better-than-expected margin growth.

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Argus Remains Optimistic on Tesla
Argus reiterated its “buy” rating for Tesla, even though the company reported a weaker-than-expected first quarter. Argus believes Tesla will weather the current challenges in the global electric vehicle market, thanks in part to its updated product offerings. The firm specifically highlighted the upcoming “Model 2,” a more affordable EV that it had previously recommended.

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Deutsche Bank Still Likes Meta
Although Deutsche Bank trimmed its price target for Meta from $800 to $650 ahead of its earnings next week, it kept its “buy” rating intact. The firm noted that Meta’s stock has underperformed amid macroeconomic concerns but remains optimistic due to resilient ad spending during the first quarter, despite some softness in consumer discretionary categories.

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HSBC Upgrades TE Connectivity
HSBC upgraded TE Connectivity from “hold” to “buy” following its earnings report. The bank pointed to the company’s growing involvement in artificial intelligence, limited exposure to tariff risk, and favorable valuation. TE Connectivity said most of its manufacturing is regionally localized, insulating it from rising tariffs. The firm expects tariff costs to rise 3% next quarter but plans to offset this with price hikes and more efficient sourcing.

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JPMorgan Upgrades Cadence Design Systems
JPMorgan upgraded Cadence Design Systems from “neutral” to “overweight,” noting the stock’s underperformance this year. The firm believes the recent decline—down 12% year-to-date—presents a compelling entry point for a high-quality software company. JPMorgan sees potential upside of over 20%, with a new target price of $325.

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Bank of America Still Confident in Apple
Despite reducing its price target for Apple from $250 to $240, Bank of America maintained its “buy” rating. The firm expects Apple to beat revenue estimates, citing potential demand acceleration due to tariff-related concerns.

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Piper Sandler Sticks With Nvidia
Piper Sandler reiterated its “overweight” rating on Nvidia, brushing aside concerns that U.S. chip export controls might help competitors. The firm expects geopolitical tensions, particularly between the U.S. and China, to continue affecting the tech landscape. It also suggested that future chip generations targeting China could face restrictions.

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Deutsche Bank Upgrades Regional Banks
Deutsche Bank raised its ratings on M&T Bank and Huntington Bancshares from “hold” to “buy.” Following first-quarter results, the bank expressed confidence that regional bank stocks have bottomed out. The firm believes these stocks offer more upside than larger banking institutions, thanks in part to lower price-to-earnings valuations.

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Citi Maintains Amazon Rating
Citi reiterated its “buy” rating on Amazon ahead of its May 1 earnings report. The firm acknowledged potential risks from tariffs and macroeconomic uncertainty but emphasized Amazon’s strong fundamentals. At current valuation levels, Citi considers Amazon a core internet holding, maintaining its $225 price target.

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Goldman Sachs Reaffirms Chipotle
Goldman Sachs kept its “buy” rating on Chipotle following its latest earnings. While management expressed caution about near-term trends and forecasted continued negative traffic in the first half of 2025, Goldman remains confident in the company’s long-term growth.

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Goldman Sachs Stays Positive on Microsoft
Goldman Sachs reiterated its “buy” rating on Microsoft ahead of its April 30 earnings release. The firm slightly reduced its price target from $500 to $450 to reflect updated valuation multiples but continues to see Microsoft as a strong player in the AI space.

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Piper Sandler Upgrades Edwards Lifesciences
Piper Sandler upgraded Edwards Lifesciences from “neutral” to “overweight” and increased its price target from $73 to $80. The firm sees a clear path to double-digit growth for the medical device company.

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Wells Fargo Confident in Goldman Sachs
Wells Fargo maintained its “overweight” rating on Goldman Sachs, calling it one of the best-positioned banks for organic growth. The firm sees the investment bank as a leveraged play on the capital markets, though it acknowledged potential downside risk from escalating trade tensions.

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D.A. Davidson Upgrades Utz Brands
Finally, D.A. Davidson upgraded Utz Brands from “neutral” to “buy.” The firm sees an improving outlook for the snack food category, pointing to stable market share and improved supply chain execution. If momentum continues, Utz could benefit from upward revisions in future earnings estimates.

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