Tuesday’s Biggest Analyst Calls: NVIDIA, Apple, Tesla, Citi, CVS, American Express, Amazon, Kroger & More

Wall Street’s Top Analyst Calls for Tuesday

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Wells Fargo Highlights Citi as a Top Pick for 2025

Wells Fargo reaffirmed its bullish stance on Citigroup, naming it the firm’s top choice among large-cap banks for 2025. Analysts emphasized Citi’s leadership position, stating: “Our dominant number one Overweight-rated large cap bank remains Citigroup.”

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Bernstein Downgrades FedEx Over Execution Concerns

Bernstein downgraded FedEx from "outperform" to "market perform" ahead of its earnings report later this month. The firm cited concerns about execution and near-term guidance uncertainties:
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“We’re taking a tactical pause and lowering our rating ahead of a widely expected reset in the near-term guidance framework and uncertainty around meeting high less-than-truckload freight spinoff expectations.”

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KBW Upgrades Citi, Citing Valuation Opportunity

KBW upgraded Citigroup from "market perform" to "outperform," arguing that the stock’s valuation is significantly discounted relative to its peers. Analysts stated:
“We are upgrading Citi to outperform owing to its discounted valuation and the meaningful lag in its shares relative to peers since October earnings.”

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Deutsche Bank Upgrades CVS to Buy

Deutsche Bank upgraded CVS Health from "hold" to "buy," pointing to potential profitability improvements as the company takes strategic steps forward:
“We believe both earnings and the multiple for the business are now likely near trough levels, and CVS has taken steps to turn the company towards improving profitability.”

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Mixed Views on Kroger

BMO downgraded Kroger from "outperform" to "market perform," stating that the stock is overvalued despite steady earnings progress:
“We believe KR remains on track to reiterate EPS targets for FY25, but valuation expansion beyond 13x would require stronger grocery market share trends or upward EPS revisions.”

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In contrast, Jefferies upgraded Kroger to "buy," highlighting upside potential driven by improved foot traffic trends and enhanced profitability in its fuel business:
“KR foot traffic trends have been sequentially improving, while its fuel business is structurally more profitable now than pre-pandemic.”

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Morgan Stanley Sees Long-Term Growth at Axon

Morgan Stanley upgraded Axon Enterprises to "overweight," emphasizing the durability of its 25–30% growth trajectory, driven by its expanding software business:
“We have increasing confidence that the ~25-30% growth Axon is seeing is durable as software continues to become a growing portion of the model.”

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CFRA Reiterates Tesla as a Buy Despite Concerns

CFRA maintained its "buy" rating on Tesla but expressed caution regarding its ability to meet 2025 vehicle sales targets. The firm noted challenges with Cybertruck production and moderating sales growth for the Model 3 and Model Y:

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“While Cybertruck production will increase materially, the growth might not be as robust as many are expecting given the uniqueness of the vehicle.”

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Wells Fargo Names American Express a 2025 Top Pick

Wells Fargo highlighted American Express as one of its top ideas for 2025, citing strong earnings growth potential: “We see further multiple expansion potential for top pick American Express and mid-teens EPS growth.”

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Redburn Upgrades Upstart on AI Momentum

Redburn Atlantic Equities upgraded Upstart Holdings to "buy," citing strong performance in recent quarters and positive forward guidance: “Upstart has now delivered two quarters ahead of expectations, with forward guidance an incremental positive.”

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Bank of America Double Upgrades Credo

Bank of America issued a double upgrade for Credo Technology from "underperform" to "buy," citing a growth inflection following its latest earnings beat and raised guidance:

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“We double upgrade Credo to buy, raise FY26/27E EPS significantly, and increase our price target from $27 to $80.”

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Apple and Nvidia Maintain Buy Ratings

Bank of America reiterated its "buy" rating on Apple, citing a rise in App Store revenues based on recent data:
“App Store revenues in F1Q25 increased to $5.6 billion, with total downloads rising 7.4% year-over-year.”

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Mizuho reaffirmed its "buy" rating on Nvidia, emphasizing the company’s dominance in AI training and inference chips for data centers:
“We see Nvidia remaining the leader in AI chips, with data center applications growing at a 74% CAGR to over $400 billion by 2027.”

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Wells Fargo Downgrades Ollie’s Bargain Outlet

Wells Fargo downgraded Ollie’s from "overweight" to "equal weight," expressing concerns over balanced risk-reward dynamics:
“Management has firmed up the foundation while capturing cyclical tailwinds, but the path forward seems trickier. Risk/reward appears balanced at this price.”

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Wells Fargo Upgrades Synchrony Financial

Wells Fargo upgraded Synchrony Financial to "overweight," highlighting its leadership in private-label cards and digital spending:
“They have the largest franchise in private label cards with a leading position in digital spend.”

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Amazon’s International Business Highlighted

Moffett Nathanson reiterated its "buy" rating on Amazon, emphasizing the importance of its international operations in driving long-term growth:
“International is expected to account for a meaningful 20% of consensus EBIT growth from 2023 to 2027, with potential to accelerate Amazon’s growth trajectory.”

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