Wednesday's Biggest Analyst Calls: Apple, Nvidia, Tesla, Meta, Sofi, Planet Fitness, Microsoft, Oracle & More

Here are Wednesday’s biggest calls on Wall Street:

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Deutsche Bank Upgrades Digital Realty to Buy

Deutsche Bank upgraded Digital Realty from neutral to buy, citing “enhanced visibility” for the data center company. Analysts highlighted the strong momentum behind the company, driven by robust demand across AI, hyperscale, and enterprise segments, as well as persistent space and power constraints. These factors have created a favorable environment for demand and pricing. Additionally, yields on new developments are improving, further supporting the company's prospects.

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Bernstein Reiterates Microsoft and Oracle as Outperform

Bernstein maintained its outperform ratings on Microsoft and Oracle, emphasizing the strong tailwinds for both stocks. The firm also included SAP among its top picks for the sector, reflecting its confidence in these technology giants’ ability to navigate market challenges and deliver consistent growth.

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Bernstein Upgrades Devon Energy and EQT to Outperform

Bernstein expressed optimism about hydrocarbon exploration companies, upgrading Devon Energy (DVN) and EQT to outperform from market perform. Analysts pointed out that EQT is highly leveraged to natural gas prices, leading to a significant increase in its target price. Devon Energy was also highlighted for its strong gas beta within the exploration and production (E&P) sector, positioning it well for future gains.

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Bank of America Reiterates Apple as a Buy

Bank of America reaffirmed its buy rating on Apple, focusing on the improving margins of its iPhone Pro models. The firm’s analysis of teardown comparisons between the iPhone 16 Pro Max and 15 Pro Max indicated that Apple has been successful in reducing costs across its Pro lineup, which continues to grow in popularity among consumers.

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Oppenheimer Reiterates Nvidia as Outperform

Oppenheimer maintained its outperform rating on Nvidia, calling it a top pick ahead of its upcoming earnings report. The firm noted Nvidia’s dominant position as a supplier of general-purpose AI accelerators, which is expected to sustain the company’s growth trajectory in the AI space.

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Oppenheimer Reiterates Netflix as Outperform

Netflix also retained its outperform rating at Oppenheimer, with analysts expressing optimism ahead of next week’s earnings release. While the firm lowered its price target from $1,065 to $1,040 due to foreign exchange headwinds, it highlighted a favorable setup heading into the fourth-quarter results, particularly as shares are down 10% from December highs, compared to a 5% decline for the Nasdaq.

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Barclays Reiterates Tesla as Equal Weight

Barclays raised its price target on Tesla from $270 to $325 but maintained its equal weight rating. Analysts noted that Tesla’s stock appears detached from fundamentals, drawing parallels to the market euphoria seen in late 2021. The firm argued that the recent rally has little to do with electric vehicles (EVs) and instead pointed to external factors like election-related developments, which they view as a net negative for the EV sector.

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Jefferies Reiterates Planet Fitness as a Buy

Jefferies reaffirmed its buy rating on Planet Fitness, calling it a top pick for 2025. The firm described the company as the “Walmart of Gyms,” benefiting from strong secular tailwinds that are expected to drive same-store sales and unit growth in the coming years.

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Deutsche Bank Names Meta, Reddit, and Spotify as Top Picks for 2025

Deutsche Bank identified Meta, Reddit, and Spotify as top picks for 2025, citing strong near-term returns. The firm believes that themes driving success in 2024—such as durable topline trends and improving margins—will remain critical for favorable stock performance in the coming year.

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Morgan Stanley Upgrades CBRE to Overweight

Morgan Stanley upgraded CBRE from equal weight to overweight, making it a top pick in the commercial real estate recovery scenario. Analysts noted signs of a potential recovery in commercial real estate transactions and raised the stock’s price target by 39% to $160, representing a total return potential of 29%.

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William Blair Initiates SoFi and Affirm as Outperform

William Blair initiated coverage of SoFi and Affirm with outperform ratings, citing a “paradigm shift” in digital finance. The firm expressed confidence in the growth potential of these fintech companies as they capitalize on evolving consumer trends in the financial sector.

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Oppenheimer Initiates SentinelOne as Outperform

Oppenheimer initiated coverage of cybersecurity company SentinelOne, assigning it an outperform rating and a price target of $32. Analysts highlighted the company’s underappreciated platform breadth, which they believe positions it well for growth in the cybersecurity market.

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Ladenburg Thalmann Upgrades Edison International to Neutral

Ladenburg Thalmann upgraded Edison International from sell to neutral, citing valuation following a recent sell-off. The firm noted that with the stock trading at a 34% price-to-earnings discount, it reflects reasonable worst-case outcomes associated with ongoing California wildfires.

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These Wall Street calls underscore varied investment themes across sectors, from technology and energy to real estate and digital finance, signaling areas of opportunity for investors in the near and long term.

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