Here are the biggest calls on Wall Street on Wednesday: DA Davidson initiates Box as buy DA says it sees accelerating growth for the content solutions company. “We are initiating coverage of BOX with a BUY rating and a $45 price target.” Citi upgrades Ollie’s to buy from sell Citi says the discount retailer is best positioned in an uncertain macro. “We upgrade to Buy from Sell with a $133 TP based on ~30x FY26 EPS. OLLI is well-positioned to win in the uncertain retail landscape.” Morgan Stanley names Disney a top pick in 2025 The firm says Disney is a top idea and streaming leader in 2025. “In 2025, we expect substantial streaming profits from both Disney and Warner Bros Discovery…” Morgan Stanley upgrades Liberty Formula One to overweight from equal weight Morgan Stanley says it sees “higher growth for longer” for the company. “We are upgrading Liberty Formula One (FWONK) to OW, raising estimates, and increasing our PT to $115 (from $95).” Evercore ISI upgrades Dow to outperform from in line Evercore said in its upgrade of the chemical company that it has better visibility for Dow. “Attractive risk-reward warrants measured step out on risk curve.” Bernstein names Amazon a top pick in 2025 The firm says Amazon is a share taker. “Durable cloud winner well positioned to compete in AI…” Piper Sandler reiterates Nvidia as overweight Piper says the company is a best idea heading into 2025. “We currently view NVDA as our top large-cap pick in our coverage universe given the company’s dominant positioning in AI accelerators and the upcoming launch of the Blackwell architecture.” UBS reiterates Microsoft as buy UBS raised its price target on the stock to $525 per share from $500. “In our view, Microsoft sentiment is modestly improving but remains mixed, reflecting concerns about supply-related push-outs of the Azure acceleration, lack of conviction in the timing of capacity go-lives, weariness about elevated capex and uncertainty about how the OpenAI relationship will evolve.” JPMorgan names Amazon, Meta and Alphabet top ideas in 2025 The firm says it’s bullish on all three mega cap stocks in 2025. “Accordingly, we expect AI-driven capex to increase as mega-caps move beyond some of the compute constraints of 2024, and we are increasing our 2025 capex for META ($64B), GOOGL ($62B), and AMZN ($97B), all above consensus.” Goldman Sachs upgrades MSCI to buy from neutral Goldman says it’s seeing “improving buy-side conditions” for the global markets tools company. “We are upgrading MSCI from Neutral to Buy and raising our 12-month price target from $617 to $723.” Baird downgrades Rivian to neutral from outperform Baird says it sees no near term positive catalysts for the EV company. “With the Volkswagen JV having recently closed and DOE funding announcement (a positive surprise) in the rearview, we see few catalysts in 2025 and expect shares to languish with EV sales, which may be sluggish relative to expectations. We remain positive on RIVN’s product/brand and the long-term opportunity which remains intact.” Goldman Sachs initiates Lantheus holdings Goldman says the medical diagnostic company is well positioned and that it’s bullish on Pylarify which is a diagnostic agent used to detect prostate cancer. “On our estimates LNTH shares offer at an attractive entry point at these levels as we believe the Street is underestimating Pylarify growth.” Citi initiates Academy Sports as buy Citi says the sporting goods company is well positioned for growth. “With only 298 stores at the end of F24, ASO has significant growth runway.” Barclays upgrades Transocean to overweight from equal weight Barclays says the oil drilling company is “steadily de-levering.” “We upgrade RIG to OW (from EW), as our unchanged $4.50 PT now represents 23% upside potential to current levels.” JPMorgan upgrades Xometry to overweight from neutral JPMorgan says the on-demand industrial parts marketplace is best postioned to deliver on profitability targets. “We upgrade Xometry from Neutral to Overweight and raise our Dec 2025 price target from $25 to $45. XMTR is the leading marketplace for custom manufacturing, a $2T+ industry early in the shift online.” Stephens upgrades Fiserv to overweight from equal weight Stephens calls the financial services company a “high quality business.” “We are upgrading FI to Overweight (from EW) and raising our target to $255 (from $220).” Bank of America upgrades Expedia to buy from neutral The firm calls the travel website a “top Internet value stock.” “A growing valuation discount to biggest peer: Expedia now trades at a 10-year high discount to Booking on EV/EBITDA at a 11 point gap, which we think can close in 2025 if growth rates converge..” Baird reiterates Tesla as outperform The firm says investors should buy the dip in shares of Tesla heading into 2025. “The stock has gained significant momentum and has several upcoming potential catalysts. We like the stock long term and would be buyers on pullbacks.” Evercore ISI reiterates Best Buy as in line The firm added a tactical outperform on the stock as holiday shopping enters its final days. “We see an opportunity for 8-10% upside in BBY to $95-$100 with a view that our spend intention survey was constructive overall on Holiday Shopping, and improving Consumer Electronic sales should help Best Buy in the near term.” Evercore ISI reiterates Target as in line The firm initiated a short term tactical outperform on the stock as holiday shopping enters its final days. “We are initiating a Positive Tactical Trade (or TAP) on TGT reflecting rising shopping intentions for holiday from our latest survey, as well as a positive inflection of web traffic from a negative low single digit trend to a +mid teen increase in December month to date.” KeyBanc upgrades Bill.com to overweight from sector weight Key says the bill company is on the “road to recovery.” “We’re hopping back on the BILL train, upgrading the stock to OW following a period rife with rather intense debate — namely around take rate/payment modality headwinds..” Daiwa reiterates Apple as outperform The firm raised its price target on the stock to $275 per share from $255. “Once in the ecosystem, especially with friends and family, it’s hard to move out. As per the iPhone, there have been a number of upgrade cycles over the past 5-10 years, Covid, the larger phone, triple cameras, but now we see another big one, the AI and Apple Intelligence upgrade cycle.” Morgan Stanley names Visa a top pick Morgan Stanley says the payment card company is a best idea in 2025 and that it has a compelling valuation. “We are adding V as our Top Pick into 2025 given attractive valuation, benefits from travel + value added services, easing regulatory scrutiny, and favorable tactical trading dynamics.” Raymond James initiates DoubleVerify Holdings as outperform The firm says the software company is the “market leader in an essential service in digital advertising.” “We are initiating coverage of DoubleVerify (DV) with an Outperform rating and $25 price target. Jefferies initiates Rocket Pharmaceuticals as buy Jefferies called the biotech company “best in class.” “RCKT has 5+ potentially best/first-in-class, curative gene therapies in the clinic for devastating/fatal rare diseases.”
