Here are the biggest calls on Wall Street on Thursday: Daiwa reiterates Nvidia as outperform Daiwa raised its price target on the stock to $165 per share from $115. “Since the Nvidia moment when they raised DC [data center] guidance to $10b from $4b in May 2023, we have seen many big rallies and then pauses. We are back in a rally phase given good quarterly growth and the same expectation for 2025.” Read more here. Bank of America reiterates Nvidia as a top pick Bank of America said the stock remains a top pick following a meeting with company management. “We maintain Buy, a top sector pick with a $180 PO as we believe NVDA remains best positioned to benefit from the ongoing AI tide, supported by a multi-year lead in performance (AI scaling), pipeline, incumbency, scale, and developer support.” Mizuho upgrades Visa to outperform from neutral Mizuho said in its upgrade of the stock that the U.S. “cash-to-card runway still has legs.” “Upgrading to Outperform. With cash-to-card historically driving two-thirds of V’s volume growth, length of the US cash conversion runway is key debate.” Bank of America upgrades Gerdau to buy from neutral Bank of America said the steel company is well positioned. “We rate Gerdau as a Buy. The US long steel market has been resilient with prices trending up and demand looking robust with extended lead times. Furthermore, we believe the recent increase in steel import tariffs to 50% could spur additional price increases.” Jefferies initiates Excelerate Energy as buy Jefferies said the energy company has a differentiated offering. “Excelerate Energy is a provider of LNG solutions across the value chain.” UBS names Netflix a top pick UBS said the stock is a top conviction idea. “We believe the wider DTC environment will continue to shift in NFLX’s favor with peers rationalizing spend and raising prices while industry consolidation would only accelerate these trends/rationalize the market.” UBS names Amazon a top idea UBS said the e-commerce giant is a top conviction idea at the firm. “We summarize our stance on AMZN shares with the phrase ‘multiple shots on goal’ in terms of opportunities for margin expansion in 2025 vs 10.8% in 2024 and 6.4% in 2023 driven by synchronous developments across its key business segments…” Jefferies downgrades Chewy to hold from buy Jefferies downgraded the online pet company mainly on valuation. ” CHWY shares are up 41% this year and trade at 24x 2026 EBITDA…a valuation primed for a beat and raise. We think it’s unlikely in Q1.” Morgan Stanley reiterates Apple as overweight Morgan Stanley said its checks show Apple’s app store revenue accelerating. “Overall, the App Store is tracking 1.5 pts ahead of our forecast, implying 40bps (or ~$110m) of June Q Services rev upside if the Q ended today, all else equal.” JPMorgan upgrades Dollar Tree to outperform from neutral The firm said it sees an attractive risk/reward. “We rate DLTR Overweight. Multi-year, we see DLTR returning to a double-digit EPS ‘compounder’ with top- and bottom-line drivers in place at the core DT banner and idiosyncratic bottom-line drivers through tariff mitigation strategies…” Read more here. Bernstein upgrades Texas Instruments to market perform from underperform Bernstein said it sees “less downside” in the stock. “We are upgrading TXN’s stock from Underperform to Market-Perform. The shares have underperformed substantially over the last several years since Sept 2023 though given the magnitude of negative revisions the stock itself has admittedly seen less absolute downside than we might have expected.” Morgan Stanley reiterates Rivian as equal weight Morgan Stanley said Rivian is well positioned for robots but that “generating a profit from EVs and funding compute spend will remain a challenge.” “We see Rivian as well positioned on scaling a fully integrated hardware/software stack needed to unlock the AI robot opportunity.” Barclays reiterates Oracle as overweight Barclays said it’s bullish heading into earnings next week. “We see Q4 as a comeback quarter for Oracle .” UBS reiterates Micron as buy The firm raised its price target on Micron to $120 per share from $92. “Raising Ests/PT on Improved Outlook and Tariff Risks Receding.” TD Cowen initiates Waystar as buy TD Cowen said the healthcare software company is well positioned. “We initiate coverage of Waystar Holding Corp. (WAY) with a Buy rating and $51 PT.” Bank of America reiterates Roblox as buy The firm raised its price target on Roblox following investor meetings. “We raise our PO to $103 (from $86) based on a 42x EV/CY26E EBITDA multiple.” Read more.
