Wednesday’s Biggest Analyst Calls: Nvidia, Tesla, Alphabet, Affirm, Roku, Texas Instruments, Robinhood & More

Here are Wednesday’s biggest calls on Wall Street:

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Nomura Upgrades Xpeng to Buy

Nomura has upgraded Xpeng from neutral to buy, following a shift in analyst coverage. The firm expressed optimism about the Chinese electric vehicle (EV) company's future prospects, citing a strong lineup of upcoming models.

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The investment firm set a price target of $30 per share, which implies a potential 22% increase from current levels. Analysts highlighted Xpeng’s market share growth as a key factor supporting the bullish outlook.

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Compass Point Initiates Coverage of Robinhood with a Buy Rating

Compass Point has begun coverage of Robinhood with a buy rating, pointing to the trading platform's growing foothold in cryptocurrency markets.

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The firm set a price target of $61, anticipating that Robinhood will increase its average revenue per user (ARPU) among its 12 million crypto customers. Analysts also noted that an improving U.S. regulatory environment could provide additional tailwinds for the company.

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Citi Names Texas Instruments a Top Pick

Citi has identified Texas Instruments as its top recommendation in the analog semiconductor sector, citing a strong risk-reward profile. The firm believes Texas Instruments stands out among its peers and sees significant upside potential.

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Barclays Upgrades Mosaic to Overweight

Barclays raised its rating on Mosaic from equal weight to overweight, citing positive commentary from the company's recent investor day.

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The firm also increased its price target from $27 to $33, noting that after several years of major project investments and macroeconomic challenges, Mosaic is now positioned to begin reaping the benefits of its strategic initiatives.

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Stephens Initiates Klaviyo as Overweight

Stephens initiated coverage of Klaviyo with an overweight rating, citing its potential for significant expansion. The firm sees Klaviyo as a possible acquisition target and believes the company has room to raise prices without negatively affecting customer retention. Additionally, analysts noted Klaviyo’s success in moving into higher-end markets.

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Baird Upgrades RTX to Outperform

Baird has upgraded RTX from neutral to outperform, stating that the defense company is well-positioned to benefit from substantial spending bills being considered in Congress.

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The firm also raised its price target for RTX to $160, up from its previous target of $136.

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TD Cowen Upgrades Shell to Buy

TD Cowen upgraded Shell from hold to buy, emphasizing its strong positioning among European energy firms.

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According to analysts, Shell is the best-positioned company among its regional peers to maintain attractive shareholder returns, even in a lower-price energy environment.

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Compass Point Upgrades Affirm to Buy

Compass Point upgraded Affirm to buy from neutral, arguing that the recent pullback in the stock presents a buying opportunity. The fintech company’s shares fell after it lost a key partnership with Walmart, but analysts believe this decline is unwarranted.

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The firm pointed to Affirm’s solid credit performance, highlighting that it has consistently outperformed peers while maintaining a strong growth trajectory. Analysts maintain that the company is poised to continue expanding and gaining market share.

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UBS Downgrades PG&E to Neutral

UBS downgraded PG&E from buy to neutral, citing a lack of catalysts for the stock.

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The firm pointed to risks related to wildfires, particularly concerns that the Eaton Fire could deplete California's wildfire insurance fund. Additionally, UBS noted ongoing volatility in the wildfire sector and an absence of factors that could drive a positive re-rating of PG&E shares.

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JPMorgan Upgrades Vulcan Materials to Overweight

JPMorgan upgraded Vulcan Materials from neutral to overweight, citing the construction company's growth potential.

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The firm, however, reduced its price target for December 2025 by $10 to $285 per share but still sees a 22% upside for investors.

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Morgan Stanley Reaffirms Overweight Rating on Alphabet

Morgan Stanley reiterated its overweight rating on Alphabet, stating that it remains bullish on the tech giant following its acquisition of cybersecurity firm Wiz.

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According to the firm, Wiz will continue supporting multiple cloud platforms, including AWS, Azure, and Oracle, while also leveraging Google’s data and infrastructure to enhance its offerings.

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Morgan Stanley Initiates Coverage of ResMed as Overweight

Morgan Stanley initiated coverage on ResMed with an overweight rating, highlighting its leadership in the sleep apnea treatment market.

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The firm also pointed out that the approval of Zepbound, a GLP-1 receptor agonist, for treating sleep apnea in obese patients could boost awareness and drive increased diagnoses. Analysts believe ResMed’s current valuation is attractive, supported by its strong financial position and industry-leading return on invested capital.

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Cantor Fitzgerald Upgrades Tesla to Overweight

Cantor Fitzgerald upgraded Tesla to overweight from neutral, seeing the stock’s recent decline as an attractive entry point.

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Despite Tesla’s shares being down roughly 45% year-to-date, the firm remains optimistic about upcoming catalysts that could drive a rebound. Cantor maintained its 12-month price target of $425.

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Oppenheimer Downgrades Goldman Sachs to Perform

Oppenheimer downgraded Goldman Sachs from outperform to perform, expressing concerns about the bank’s M&A (mergers and acquisitions) business.

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The firm pointed to uncertainty surrounding trade policies, potential new tariffs, and broader economic shifts, which could lead to a slowdown in deal-making activity.

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Bank of America Reaffirms Buy Rating on Nvidia

Bank of America reiterated its buy rating on Nvidia, maintaining its $200 price target.

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The firm remains bullish on Nvidia following the company’s Global AI Conference, where executives detailed new products and partnerships. Analysts believe Nvidia is strengthening its competitive position within the $1 trillion AI infrastructure and services market.

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Guggenheim Maintains Buy Rating on Roku

Guggenheim reaffirmed its buy rating on Roku, though it lowered its price target from $115 to $100 per share.

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Despite the adjustment, the firm expressed confidence in Roku’s long-term prospects, expecting improvements in user engagement and financial performance through 2025. Analysts believe Roku will exit the year in a stronger position than ever.

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