Here are Thursday’s biggest calls on Wall Street: Baird initiates RocketLab as outperform Baird said the rocket company is best positioned for space travel. “We are initiating coverage of Rocket Lab (RKLB) with an Outperform rating and $83 price target based on 30x our 2030 revenue estimate.” TD Cowen initiates Vistra as buy TD Cowen said the energy company is a new top pick at the firm. “We see VST benefiting from structural tailwinds in the power space as electricity demand continues to grow faster than new generation can come online.” Truist initiates Gartner as buy Truist said the IT service company is too attractive to ignore. “Gartner (IT) is trading at an unusual ~40% discount to historical average EV/EBITDA valuation after three years of slowing growth on a combination of macro and end-market specific drivers.” Raymond James initiates Crown Holdings as outperform Raymond James said the packaging company has an attractive profile. “We initiate coverage of CCK with an Outperform rating.” Goldman Sachs initiates VTEX as buy Goldman said investors should buy the dip in the e-commerce platform developer. “We initiate coverage of eCommerce platform developer VTEX at Buy with a 12-month price target of USD5.30/share.” JPMorgan upgrades Las Vegas Sands to overweight from neutral JPMorgan said it’s bullish on the company’s Singapore opportunity. “We upgrade LVS to OW from Neutral, with our $60 PT implying ~20%+ upside. Underlying our upgrade is our more positive view on Singapore, balanced by our expectation that Macau est’s are reasonably set here.” Read more. UBS reiterates Micron as buy UBS raised its price target on shares of Micron. “Our latest round of industry checks points to a very robust demand environment being met by acute and worsening DRAM supply shortages – we are increasing pricing once again, now see C2026E EPS power approaching $30, and raising PT from $225 to $245.” Read more. Goldman Sachs upgrades Celestica to buy from neutral Goldman said the data center equipment company has more room to run. “We initiate coverage on Celestica ( CLS) with a Buy rating and a 12-month target price of $340, reflecting 40X NTM+1 [next twelve months] EPS. Wells Fargo reiterates Netflix as overweight Wells said it remains bullish on shares of the entertainment giant. “Bridging into ’26, we think guidance is a modest risk should it come at 3Q’25. Engagement is likely pushing NFLX to new areas, while M & A is less probable (though could be supportive). We remain Overweight, but don’t want to take print risk.” Wells Fargo upgrades T-Mobile to overweight from equal weight Wells said the wireless company is compelling. “Swapping top carrier pick to TMUS for (1) structurally higher 3yr FCF growth, (2) continued network leadership and share gains, (3) capital allocation flexibility bolstered by buybacks.” JPMorgan upgrades PPG to overweight from neutral JPMorgan said shares of the paint company are attractive. “We lifted our investment rating on PPG from Neutral to Overweight. We think that PPG’s public market value has decreased more than its business fundamentals have weakened both over the past year and the past five years.” Morgan Stanley initiates Equinix as overweight Morgan Stanley said the data center company is well positioned. “Our $950 EQIX PT offers 16% upside and reflects a view that the company’s three year guidance is achievable and will drive modest multiple expansion.” Citizens JMP initiates SharpLink Gaming as market outperform Citizens said the Ethereum company has upside. “We are initiating coverage of SharpLink Gaming (SBET) with a Market Outperform rating and a $50 price target, representing potential upside of over 200% from current levels.” Bernstein downgrades Lululemon to market perform from outperform Bernstein said it sees limited visibility for Lululemon. “With price, markdowns, and traffic trends worsening, and with no visibility or proof points to support an inflection, we find it hard to have conviction in the bull thesis.” Bank of America reiterates Nvidia as buy Bank of America said Nvidia is well positioned for healthcare and AI. ” NVIDIA (NVDA), a leader in accelerated computing, has broadened its reach into high- compute healthcare workloads and continues to engage in partnerships on the application side. Bank of America reinstates Tenaris as buy Bank of America said the European oil and gas company is defensive. “We view Tenaris as one of the most resilient equities within the European oil and gas sector.” Bank of America upgrades Sea Limited to buy from neutral The firm said fundamentals are robust for the Asia e-commerce company. “We upgrade Sea to Buy from Neutral and increase our PO to US$215 from US$206 given strong fundamentals across the business.” Read more. Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said Microsoft is a “core holding.” “Despite strong Q4 results and robust demand for Azure AI, lurking questions on the OpenAI relationship and the durability of Azure growth keep shares off highs.” UBS reiterates Ferrari as buy UBS trimmed its price target to $529 per share from $579. “We continue to see RACE as one of the most compelling LT growth stories in the sector, even if it may lack positive catalysts in the ST. Buy.” UBS reiterates Berkshire Hathaway as buy UBS lowered its price target to $593 per share from $597. “Per our calculation, BRK’s shares are trading roughly in line with its intrinsic value. Historically, BRK has repurchased shares when trading closer to a 15% discount to intrinsic value. As a result, we are not forecasting any share buyback in 3Q25.” Bank of America initiates Vera Therapeutics as buy Bank of America called the biotech company an “underdog.” “We initiate coverage of Vera Therapeutics (VERA) with a Buy rating and $48 PO. Vera is a clinical-stage biotech developing anti-autoimmune biologic drugs.” Exane BNP Paribas initiates Tesla as underperform The firm said it can’t justify the stock’s valuation. “We are bullish on Tesla’s AI future, reflected in our quite generous base-case assumptions that see TSLA hitting over half of Elon’s 2035 $1trn comp package targets. But we still can’t justify the stock’s current valuation.” Bank of America upgrades Knight-Swift to buy from neutral Bank of America upgraded the transportation company on tightening capacity. “While there have been multiple head fakes in the 3.5-year prolonged freight downcycle, we see KNX (Trucking 67% of Revenue) as a well-run truckload operator and a key of beneficiary of constructive truckload capacity dynamics.” ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
