Here are Wednesday’s biggest calls on Wall Street: Bank of America reiterates Netflix as buy The firm said it’s sticking with the stock following earnings on Tuesday. “In our view, Netflix shares will be fueled by continued positive subscriber and earnings momentum in addition to evolving advertising and live opportunities.” Read more. Wells Fargo initiates Affirm, Mastercard, Visa and Toast. The firm initiated a slew of payment and fintech stocks and says it sees many secular tailwinds. “The Payments sector has been a minefield for investors, but we see particularly attractive opportunities in five Overweight-rated stocks we are dubbing the ‘Fab 5 of Fintech.’ In alpha order, these include ADYEN, AFRM , MA , TOST, and V, all of which we believe have some combination of secular tailwind and also excel competitively.” Piper Sandler initiates Dell as overweight Piper Sandler said Dell’s opportunities are “strong.” “Positively, Dell should be one of the primary beneficiaries of upcoming enterprise datacenter refresh that looks particularly strong for 2026, AI infrastructure buildouts, and Win-10 end-of-life in which ~50% of units still need to be refreshed or remain vulnerable.” Deutsche Bank initiates AppLovin as buy Deutsche said the mobile tech company is firing on all cylinders. ” AppLovin is the dominant player within the mobile games’ user acquisition advertising space, with ~80% market share on the supply side and more than 55% share on the demand side.” Jefferies initiates Klaviyo as buy Jefferies said in its initiation of Klaviyo the marketing automation company has durable growth. “We are initiating coverage with a Buy and $32 PT, as we expect growth to prove durable through 2028” RBC initiates Deere as outperform RBC said Deere is leveraging its leading market position. “We are initiating coverage of Deere & Company (Deere) with an OP rating and a $542 PT.” Read more. Wolfe upgrades FlyWire to outperform from peer perform Wolfe said it sees a slew of positive catalysts ahead for the payment company. “We are upgrading shares of FLYW to Outperform from Peer Perform given strong execution, accelerated investment in 2026, and conservative guide.” Evercore ISI adds Texas Instruments to the tactical outperform list Evercore said buy the dip following the company’s earnings report on Tuesday. “We recommend buying TXN shares which are 9% lower AH following a seasonal DecQ Revs guide resulting in EPS 11% below Street estimates.” Wells Fargo initiates Block as overweight Wells said the payment company has more room to run. “We have an Overweight on Block (XYZ). After a period of uneven execution, 2Q operating performance has improved in both Square & Cash App, and we see likely 2H GP [gross payments] acceleration.” Morgan Stanley upgrades 3M to equal weight from underweight The firm said it’s getting more “constructive” on the 3M. “Relative to our year ago UW launch, the organic bar has declined, the equity has de-rated and signs of self-help have emerged – as such, we see a more constructive NTM [next twelve months] set-up and upgrade shares to EW” RBC initiates United Rentals as outperform RBC said it’s bullish on the equipment rental company. “We are initiating coverage of United Rentals with an OP and $1,152 PT.” Morgan Stanley upgrades Hyatt to overweight from equal weight Morgan Stanley said buy the dip in the hotel chain. “Upgrade H to OW (15% total return, $168 PT) as pivot back to asset light brings back alpha generation potential.” Wolfe upgrades Kinetic to outperform from peer perform Wolfe said the oil and gas company is a “potential takeout.” “KNTK has had a tough year with volume, cost, and risk mgmt disappointments that reduced credibility in the compelling LT growth story. But there’s a price for everything, and with a well covered 8.5% yield we think investors get a free option on growth and potential takeout.” HSBC upgrades Halliburton to buy from hold HSBC called Halliburton a “unique play” on data centers. “Upgrade to Buy (from Hold) and raise TP to USD30.00 (from USD23.00) for a higher multiple.” BTIG initiates Duke Energy as buy BTIG said the energy company has “attractive value.” “We are initiating coverage of Duke with a Buy rating and $150 price target.” Bank of America reiterates Amazon as buy Bank of America said it’s sticking with the e-commerce giant ahead of earnings later this month. “Amazon is an eCommerce and cloud computing leader with higher market share and margin potential stemming from its global scale, fulfillment footprint and technology platform investments.” Bernstein initiates U.S. Foods as outperform Bernstein said the food products company is well positioned. “We believe USFD has an underappreciated opportunity to increase margins sustainably while growing the topline where it matters, 2-3x faster than the market.” Morgan Stanley reiterates Apple as overweight The firm said it’s bullish on the stock ahead of earnings later this month. “Sept/Dec Q buyside expectations have climbed higher in recent weeks, but we believe Apple will surpass those expects, keeping a bid on the stock.” Needham initiates First Solar as buy Needham called the company a “solar leader.” “We initiate coverage of FSLR with a Buy and $286 price target.’ Bank of America upgrades Wex to buy from neutral Bank of America said the payments solutions provider is “turning a corner.” “We upgrade Wex (WEX) from Neutral to Buy as we think company is turning the corner on growth and valuation is attractive.” JPMorgan downgrades HP to neutral from overweight The firm said it sees a rougher backdrop. “We are downgrading shares of HP Inc. (HP) from Overweight to Neutral as we see the company cycling past the favorable part of the volume and commodity cost cycle into a relatively tougher backdrop,…” Citi upgrades BioAge Labs to buy from neutral Citi said it’s bullish on the biotech company due to its obesity drug. “We see the upcoming clinical data from both BioAge and competitors as potential stock moving catalysts (scenario analysis with up/down expectations inside). Ahead of these, we upgrade BIOA to Buy/High Risk as we see a favorable risk/reward at the company’s current valuation.” Stifel initiates SkyWater Technologies as buy Stifel said the semiconductor company is well positioned. “SkyWater is a leading semiconductor manufacturing foundry, and the largest US-owned and operated foundry that specializes in foundational (aka, mature) process technologies.”
