Tuesday’s Biggest Analyst Calls: Nvidia, Tesla, Coca-cola, Carvana, Dell, Roku, Walmart & More

Here are Tuesday’s biggest calls on Wall Street:

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Loop Capital Initiates Penguin Solutions as Buy

Loop Capital launched coverage of Penguin Solutions, a technology computing firm, with a “Buy” rating and a $30 price target. The firm cited Penguin’s strong positioning in the artificial intelligence sector and described it as a “next-generation AI-related company” with significant potential in critical tech areas.

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Piper Sandler Favors Coca-Cola and PepsiCo

Piper Sandler initiated coverage on Coca-Cola (KO) and PepsiCo (PEP), rating both as “Overweight.” The firm expressed a stronger preference for Coca-Cola, citing its robust global brand and sustainable growth potential. However, Piper also noted that PepsiCo’s recent pullback offers a compelling opportunity for investors.

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Truist Optimistic About Major Banks

Truist initiated “Buy” ratings for Citigroup (C), Wells Fargo (WFC), and Bank of America (BAC), emphasizing the banks’ potential for efficiency improvements and returns on tangible common equity (ROTCE) through self-help measures and cyclical growth opportunities.

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Oppenheimer Turns Bullish on Cheesecake Factory

For the first time since 2011, Oppenheimer upgraded Cheesecake Factory (CAKE) to “Outperform” with a $65 price target. The firm anticipates a strong performance in 2025, driven by same-store sales and margin expansion.

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Mizuho Upgrades Vornado Realty Trust

Mizuho upgraded Vornado Realty Trust (VNO) to “Outperform” from “Neutral,” predicting a recovery in New York City’s office market. The firm noted that market rent growth in 2025 looks reasonable, given current and expected vacancy rates.

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HSBC Sees Opportunity in Bank of America

HSBC upgraded Bank of America (BAC) to “Buy” from “Neutral,” citing an attractive entry point after a recent pullback in bank stocks. The firm expects strong EPS growth and improvements in return on equity (ROE) and ROTCE.

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Redburn Upgrades Disney

Redburn Atlantic Equities raised Disney (DIS) to “Buy” from “Neutral,” highlighting a turning point in its streaming business. The firm believes streaming profit growth will offset declines in the company’s linear TV segment.

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Bernstein Names Walmart a Top Pick

Bernstein identified Walmart (WMT) as a top investment choice despite its premium valuation. The firm anticipates that Walmart’s U.S. e-commerce segment will become profitable by fiscal year 2030, adding significant EPS growth.

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Needham Reiterates Roku as a Buy

Needham reaffirmed its “Buy” rating on Roku (ROKU), calling it a top stock for 2025. The firm cited connected TV ad growth and potential industry consolidation as key drivers of valuation upside.

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RBC Upgrades Carvana

RBC upgraded Carvana (CVNA) to “Outperform” from “Sector Perform” and set a $280 price target. Following a successful turnaround in 2024, the firm views the recent pullback as an opportunity for investors.

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MoffettNathanson Downgrades Apple

MoffettNathanson downgraded Apple (AAPL) to “Sell” from “Neutral,” expressing concern over ongoing negative news despite a steady rise in the stock’s price.

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Bernstein Upgrades Lululemon

Bernstein upgraded Lululemon (LULU) to “Outperform” for the first time, citing a recovery in its Americas business. The firm expects the company to rebound from a challenging year marked by slowed growth.

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Barclays Favors Shake Shack and Dutch Bros

Barclays upgraded Shake Shack (SHAK) and Dutch Bros (BROS) to “Overweight” from “Equal Weight,” citing their high-growth potential and new leadership introduced in 2024.

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UBS Reiterates Dell as a Top Pick

UBS maintained its “Buy” rating on Dell (DELL), naming it a top large-cap pick for 2025. The firm highlighted Dell’s strength in the AI server market and projected 10% revenue growth in its information services group.

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BTIG Initiates Hims & Hers Health as Buy

BTIG initiated coverage on Hims & Hers Health (HIMS) with a “Buy” rating, describing the healthcare tech firm as disruptive in its space.

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Evercore ISI Upgrades LabCorp

Evercore ISI upgraded LabCorp (LH) to “Outperform,” citing solid growth in lab testing volumes for fiscal year 2025.

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Wells Fargo Upgrades Snowflake

Wells Fargo upgraded Snowflake (SNOW) to “Overweight,” highlighting an attractive entry point and the potential for growth from a new product cycle and its AI/data capabilities.

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Goldman Sachs Turns Bullish on Zions Bancorporation

Goldman Sachs upgraded Zions Bancorporation (ZION) to “Buy,” expecting net interest margin expansion and improved deposit funding.

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Bank of America Downgrades Tesla

Bank of America downgraded Tesla (TSLA) to “Neutral” from “Buy,” noting that the stock’s growth catalysts are now fully reflected in its valuation.

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UBS Upgrades Bank of America

UBS called Bank of America an “overlooked” opportunity in the post-election landscape, upgrading the stock to “Buy.”

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Truist Upgrades Atlassian

Truist upgraded Atlassian (TEAM) to “Buy” from “Hold,” emphasizing the company’s potential as a beneficiary of artificial intelligence advancements.

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Evercore ISI Bullish on Alphabet and Uber

Evercore ISI issued tactical “Outperform” ratings for Alphabet (GOOGL) and Uber (UBER) ahead of earnings, citing reasonable estimates for Google and a significant pullback in Uber shares.

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Goldman Sachs Sticks With Nvidia

Following Nvidia’s (NVDA) announcements at CES, Goldman Sachs reiterated its “Buy” rating, praising the company’s rapid innovation and robust ecosystem of partners.

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