Wednesday's Biggest Analyst Calls: NVIDIA, Apple, Netflix, Microsoft, Robinhood, Amazon, Dell, Chewy & More

Wall Street’s Notable Analyst Calls on Wednesday

Several influential Wall Street firms made noteworthy stock recommendations and adjustments on Wednesday, spanning industries from technology to consumer goods. Here's a recap of the day’s most prominent calls:

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Loop Capital Maintains Buy on Nvidia

Loop Capital reaffirmed its buy rating for Nvidia ahead of its earnings report. Despite heightened chatter across the generative AI sector, the firm remains optimistic about the company’s growth trajectory. “While the generative AI ecosystem has faced some noise recently, our analysis suggests Nvidia's anticipated demand remains solid, with no significant changes to our broader expectations.”

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Deutsche Bank Upgrades Gaming and Leisure Properties

Deutsche Bank upgraded Gaming and Leisure Properties (GLPI) to buy from hold, citing attractive returns. “We see shares as compelling, offering a mid- to high-teens return when combined with the dividend yield. Our price target rises to $54 from $49, reflecting limited downside risk.”

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Bernstein Reiterates Robinhood as Outperform

Bernstein continues to see potential in Robinhood as a key player in crypto deregulation, raising its price target to $51 from $30. “Robinhood operates under significant regulatory constraints, offering limited crypto services compared to competitors. This leaves substantial upside for growth as the market evolves.”

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Pivotal Research Boosts Netflix Price Target

Pivotal Research raised its price target for Netflix to a Street-high $1,100 from $925 following the success of streaming events like the Tyson/Paul fight. “Our revised subscriber and ARPU forecasts, along with a slight increase in terminal EBITDA multiple, contributed to the $175 price target boost.”

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Bank of America Reaffirms Walmart as Buy

Bank of America increased Walmart's price target to $105 from $95, emphasizing its growth prospects. “Walmart’s continued market share gains, profitability improvements, and the expansion of high-margin segments like digital advertising and third-party marketplace fees bolster its long-term outlook.”

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Bernstein Labels Apple as a ‘Best Idea’

Bernstein reiterated Apple as outperform, highlighting its consistent performance and capital return strategy. “Apple is a quality compounder with steady revenue growth, improving margins, and double-digit EPS expansion.”

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Goldman Sachs Stays Bullish on Microsoft

Goldman Sachs maintained its buy rating and $500 price target for Microsoft after the Ignite Conference, where the company revealed advancements in generative AI. “These innovations strengthen our belief in Microsoft as the preferred platform for AI investment, spanning infrastructure to applications.”

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Piper Sandler Initiates Coverage on AppLovin

Piper Sandler initiated coverage on AppLovin with an overweight rating and a $400 price target, highlighting its AI-driven growth.

AppLovin’s technology has propelled ad revenue beyond market growth, and we see further monetization opportunities.”

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Morgan Stanley Reiterates Adobe as Overweight

Morgan Stanley sees Adobe uniquely positioned in the generative AI space despite rising competition and limited investor guidance.

“Broad workflows and extensive data sets make Adobe well-suited to capitalize on AI opportunities, presenting an attractive risk/reward profile.”

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Morgan Stanley Upgrades Lemonade

Morgan Stanley upgraded Lemonade to equal weight from underweight, expressing optimism about the insurance company’s ambitious goals.

“Lemonade aims to grow premiums from $1 billion to $10 billion over the coming years, a target we now view as achievable.”

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JPMorgan Remains Optimistic on Amazon

JPMorgan reiterated its overweight rating on Amazon, calling it a top holiday pick.

“Amazon’s leading 45% U.S. e-commerce market share, along with strong promotional momentum, Prime expansion, and competitive pricing, positions it well for the holiday season.”

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Evercore ISI Adds Dell to Tactical Outperform

Ahead of earnings, Evercore ISI included Dell on its tactical outperform list, citing strength in AI-driven segments.

“Dell is poised to exceed consensus revenue and EPS estimates, driven by storage and AI server growth.”

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Bank of America Upgrades Chewy

Chewy received an upgrade to buy from underperform, with a price target increase to $40 from $24.

“Shelters continue to take in more pets, and year-over-year pet spending trends are stabilizing.”

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Guggenheim Revises SolarEdge to Neutral

Guggenheim upgraded SolarEdge to neutral from sell, noting balanced risks after the stock’s decline.

“Current valuations align with our model, suggesting the stock is fairly valued at approximately 10x our 2026 EBITDA estimate.”

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Oppenheimer Downgrades JPMorgan Chase

Oppenheimer lowered JPMorgan Chase to perform from outperform, citing valuation concerns.

“The stock now trades in line with our fair value model, prompting our downgrade.”

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JPMorgan Adds Positive Catalyst Watch on EVgo

Following investor meetings, JPMorgan issued a positive catalyst watch on EVgo, emphasizing its potential.

“Investors are increasingly focused on EVgo’s unit economics and possible policy shifts under a new administration.”

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Barclays Upgrades Newell Brands

Barclays upgraded Newell Brands to overweight, optimistic about its turnaround strategy.

“Early benefits from the company’s initiatives are beginning to show promise, leading us to expect share price outperformance.”

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Citi Downgrades Target

Citi downgraded Target to neutral from buy, citing challenges in its quarterly performance.

“Third-quarter results highlight share loss to Walmart, with an uninspiring outlook for Q4.”

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HSBC Upgrades Trip.com

HSBC raised Trip.com to buy from hold after earnings, highlighting improved margins.

“Operating margins reached a post-COVID high, reflecting lower marketing costs.”

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Bernstein Evaluates Cava

Bernstein initiated coverage on Cava as market perform, recognizing its growth potential but cautious valuation.

“Cava’s ability to grow same-store sales while expanding geographically underscores its potential as a major player in the restaurant industry.”

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