Here are Friday’s biggest calls on Wall Street. Morgan Stanley reiterates Apple as overweight Morgan Stanley says Apple shares appear to be “turning a corner.” “We are turning more bullish – forward iPhone unit/revenue growth expectations are still relatively muted, many of the same factors that got us bullish last July remain, we’re past peak tariff risk…” Morgan Stanley reiterates Nvidia as overweight The firm said Nvidia’s Rubin chip is on track and that investors should remain calm. “The chips and their system design should be finalized next March, with the chip entering mass production in 2Q26, followed by server racks ramp in 3Q26. So it appears there will be no delay to the Rubin schedule, despite some investor concerns.” HSBC downgrades Cisco to hold from buy HSBC downgraded the stock following earnings earlier this week. “Cisco shares are up 42% since 16 August 2024, outperforming broader Nasdaq by 19ppt, and appear fairly valued.” JPMorgan reiterates Applied Materials as overweight JPMorgan said it’s sticking with Applied Materials following earnings on Thursday. “We Believe Situation Reflects Timing of Spending and Secular Drivers Remain Intact…” Wells Fargo reiterates Tapestry as overweight Wells said investors should buy the dip in shares of Tapestry , the owner of brands like Coach. “We see Coach continuing to demonstrate upward momentum, while AUR [average unit retail] dynamics appear intact.” Read more. Bank of America reiterates Birkenstock as buy The firm said it’s sticking with the shoe company following earnings on Thursday. “Our Buy rating on Birkenstock (BIRK) reflects our view that outsized sales and EBITDA growth is sustainable as the company continues to diversify its product offerings.” Bank of America reiterates Tesla as neutral Bank of America said Tesla is making “strides” in expanding its robotaxi network. “In addition, TSLA is taking first steps needed for entrance into other markets including: New York City, Phoenix, Miami, San Francisco/Bay Area, and Nevada. … .Although we think the goal of reaching half the US population by the end of the year is ambitious given regulatory hurdles and need for a safe rollout, these are encouraging signs. Raymond James upgrades Wingstop to strong buy from outperform Raymond James said investors should take advantage of any dip in shares of Wingstop. “That said, we remain confident that comps can begin to improve through September and accelerate further through 4Q as comparisons ease.” Mizuho reiterates Oracle as outperform Mizuho raised its price target on the stock to $300 per share from $245. “We reiterate our Outperform rating and raise our PT to $300, as Oracle unfolds its next chapter in enterprise AI. ORCL remains one of our top picks.” Bernstein reiterates Netflix as outperform Bernstein said Netflix has a “compelling playbook for sustainable growth.” “Unlike legacy players that rely heavily on their own production arms, Netflix employees a diversified sourcing strategy for its branded content. Netflix blends financing, exclusive licensing, co-productions, and more to create a steady stream of branded hits. … .That’s a compelling playbook for sustainable growth.” Susquehanna initiates Parker-Hannifin as positive The firm said shares have plenty more room to run. “PH is a global market leader in the Motion & Control industry, manufacturing highly engineered components and systems to facilitate the precise management of fluid, gas, and mechanical movements across a wide range of applications in various Industrial end markets.” Evercore ISI reiterates Dell as outperform Evercore said its supply chain checks show more upside for Dell . “Sticking with our OP rating but raising our target to $160 (from $150).” Gordon Haskett downgrades BJ’s to hold from buy The firm downgraded BJ’s mainly on valuation. “With that said, the near-term set-up has altered and given the stock’s ~70% move over the past two years (from low-$60’s to low $100’s) and more premium valuation . . . we now believe a more neutral posture is warranted – hence we are downgrading the stock to Hold-Rated from Buy-Rated.” Bank of America downgrades Applied Materials to neutral from buy Bank of America downgraded the stock following earnings due to cyclical headwinds. “While AMAT is a high quality supplier, the company’s higher exposure to (over-supplied) mature node and certain leading-edge customers (INTC) is impacting them more this part of the cycle.” Bank of America downgrades Target to underperform from neutral The firm said it sees too many negative catalysts ahead for Target. “We see increasing longer-term sales and margin risks for TGT given slowing digital sales growth, a lack of scale in digital advertising and 3P marketplace, elevated tariff, pricing and merchandising headwinds, and increasing competitive threats from WMT and AMZN…” Read more. Bernstein reiterates GE Aerospace as outperform Bernstein raised its price target to $343 per share from $254. “GE provided Q2 earnings and an investor update on July 17th. We saw that update as positive for both 2025 and its longer term outlook. But, beyond those numbers and forecasts, we see two important aspects of GE’s position, which we believe make GE’s stock continue to be attractive, even with a high valuation relative to many other stocks.” DA Davidson upgrades Salesforce to neutral from underperform The firm said the “challenges” are already priced in for Salesforce. “We are upgrading our rating to NEUTRAL from Underperform and maintaining our $225 price target based on 18.5x our updated FY27 EPS estimate.”
