Here are Thursday’s biggest calls on Wall Street: Wells Fargo reiterates Arm as overweight Wells said it’s sticking with the stock following earnings on Wednesday. “While shares could take a NT breather, we’re + on Arm’s fwd commentary & its positioning to benefit from emerging AI oppys. PT $185.” Goldman Sachs reiterates Disney as buy Goldman said it’s “gaining confidence” in the stock following earnings on Wednesday morning. “DIS F1Q25 results beat with F2025 EPS growth of HSD% y/y [high single digits] reiterated, but with management expressing greater confidence in the forecast.” Morgan Stanley reiterates Nvidia as a top idea The firm said investors should buy the dip in Nvidia. “Reiterating Top Pick as the DeepSeek selloff is a buying opportunity.” Stifel downgrades Skyworks to neutral from buy Stifel downgraded the semis company following earnings and concerns about losing some of Apple’s business. “We are downgrading SWKS to Hold as the company has lost additional content at its largest customer, Apple, given a move to a dual-sourced socket strategy (we believe Broadcom is the 2nd source) for a complex device that had previously been sole-sourced to SWKS.” Bernstein downgrades Cigna to market perform from outperform Bernstein downgraded the stock following earnings. “We are downgrading CI to Market- Perform on underperformance in their employer stop loss business, coupled with PBM [pharmacy benefit management ] policy uncertainty which we believe will make the stock more difficult to outperform over the coming months.” JPMorgan reiterates Qualcomm as overweight JPMorgan lowered its price target to $195 per share from $200 but said it’s standing by the stock following Wednesday’s earnings. “Qualcomm is executing well in its own right with upsides from all aspects of its business, including Handsets, Autos as well as IoT continuing to surprise investors positively.” Daiwa reiterates Microsoft as buy Daiwa raised its price target on Microsoft to $533 per share from $520 but said its earnings report in January was underwhelming. “Meanwhile, we believe the underwhelming earnings release will ultimately present a solid entry opportunity in view of a longer-term horizon, partly since negative catalysts seem to have played out for now.” Daiwa reiterates Apple as buy Daiwa lowered its price target to $270 per share from $275 on Apple. “We continue to believe that the company is very well placed as Artificial Intelligence is the biggest tech trend in decades. However, we do wait for more interesting AI applications to emerge to drive a multi-year phone and PC upgrade cycle starting later this year and continuing throughout 2026.” Deutsche Bank initiates Ferrari as hold The firm said it likes the luxury auto stock but that shares are fairly valued. “In sum, Ferrari’s brand, financials and backlog are unique but we consider this already well priced.” Evercore ISI upgrades CarMax to outperform from in line Evercore said it sees share trends improving for the used auto company. “We are upgrading KMX to Outperform from In Line with a Base Case of $110.” Bernstein initiates Walmart as outperform Bernstein said the retail giant is very well positioned. ” WMT is our top pick (Outperform, $106 target price), as we expect the company to leverage its scale to offer great value to consumers and to grow ecommerce profitably.” Bernstein initiates Costco as outperform Bernstein called Costco’s international growth “underappreciated.” “We are also bullish on COST (Outperform, $1,058 target price). Despite its expensive valuation, we believe its international growth potential is underappreciated, which can support consistent earnings growth for decades to come.” Wolfe reiterates Tesla as peer perform Wolfe says the robotaxi is the key to Tesla’s business but that it sees too many challenges right now. “As it relates to stock, we remain on the sidelines, as we continue to view TSLA’s planned Robotaxi launch in June as the most important near-term catalyst. We fully expect Tesla to launch a rideshare service in Austin, as planned. Afterwards, we’d expect the market to start honing in on a several key service metric.” Cantor Fitzgerald initiates AST SpaceMobile as overweight Cantor said the satellite design company is well positioned. “We initiate on ASTS with a OW and a $30 PT. At a high level, we think AST’s strategic alignment with large Telco and Tech enterprises, budding Defense opportunities, and supply chain readiness all suggest a positive catalyst cycle ahead despite rising cash consumption.” JPMorgan initiates JAMF Holdings as overweight JPMorgan said the software company is inexpensive. “We are initiating coverage of JAMF with an Overweight rating as we view the company to be well positioned to benefit from increasing adoption of Apple devices in Enterprises as the leading technology solution in relation to device management and security.” Bank of America reiterates Block as buy The firm said the payment fintech company remains a top idea at the firm. ” XYZ is our top Payments pick for ’25.” Evercore ISI adds a tactical outperform on Carvana Evercore said it’s keeping its in line rating on the stock but is bullish ahead of earnings later this month. “We see upside to the $280-$290 range for CVNA , with a view that the company will deliver a solid 4Q beat and raise for both retail used units sold and EBITDA.” Bank of America reiterates Ford as buy The firm said it’s sticking with the auto giant following earnings on Wednesday. “Our Buy rating on Ford is predicated on our expectation for a micro earnings inflection at the company, driven by the confluence of a favorable product cycle in the all-important US/NA market and benefits from its Global Redesign restructuring, in addition to the ongoing macro recovery underway in the global automotive cycle.” Citi adds a positive catalyst watch on Hanesbrands Citi said consensus estimates are too low for undergarment company. The firm says it’s sticking with its neutral rating on the stock. “We are opening a positive catalyst watch on HBI as we think consensus EPS are too low for F25.” DA Davidson reiterates Coty as buy The firm added the stock to its “stampede” top ideas list. “Coty , which is ~50% owned by JAB Holdings, is a global beauty company that had several difficult years after leveraging up to acquire Procter & Gamble’s (PG) beauty business in 2016.”
