Here are Thursday’s biggest calls on Wall Street: Citi reiterates Nvidia as buy Citi said it’s sticking with the stock following a meeting with investor relations. “We maintain NVDA a s our top buy-rated mega-cap data center semis pick on strong access to DRAM memory amidst constrained industry supply.” RBC initiates Waters as outperform RBC said it sees a “turnaround opportunity.” “We are initiating coverage of Waters (WAT) with an Outperform rating and $435 price target” Wolfe upgrades Sarepta to outperform from peer perform Wolfe said it sees an attractive setup. “Stock gains in SRPT have been transient but we believe this would shift given a different market regime and stock setup currently.” Wolfe upgrades American Tower to outperform from peer perform Wolfe said the cellular tower company is best positioned for growth. “With this report, we upgrade American Tower Corp (AMT) to Outperform from Peer Perform. We believe the U.S. tower market has largely moved beyond the multi-year disruption from carrier consolidation, setting the stage for more predictable organic growth, while AMT’s valuation remains compelling relative to large-cap REIT peers.” Baird initiates Cohu as outperform Baird said the semis testing company has more room to run. “COHU i s a leading provider of semiconductor test handling, thermal control, interface/contactors, and inspection/metrology.” Mizuho reiterates Applied Materials as outperform Mizuho said it sees “upgrade tailwinds.” “Raise AMAT e sts/PT to $650 (prior: $540), LRCX to $400 (prior: $380) and MKSI to $415 (prior: $400) as AI continues to drive leading edge foundry/logic and DRAM demand, while NAND sees upgrade tailwinds.” BMO initiates Intuitive Surgical as outperform The firm said the medtech company is firing on all cylinders. “Our highest-conviction names are ISRG ( our #1 All-Star, ~31% discount to three-year historical multiple, strongest fundamental profile in the group, in our view)…” Goldman Sachs initiates Comfort Systems as buy Goldman said the AI infrastructure buildout company is well positioned. “We initiate coverage of Comfort Systems USA (FIX) with a Buy rating and a 12-month price target of $2,159, implying 28% upside. FIX is a leading mechanical and electrical contractor with significant leverage to the AI infrastructure build-out.” Read more. JPMorgan downgrades Stellantis to neutral from overweight JPMorgan says the stock has limited upside. “We downgrad e STLA t o Neutral (OW) as we think the firm still needs ~14 months of work to reap the benefits of purchasing components at a lower price, feeding through to the product launches coming on stream in FY27/28.” Read more. Goldman Sachs upgrades Toast to buy from neutral Goldman says investors should buy the dip. “”We are upgrading shares of TOST t o Buy with a $36 price target. With payments stocks underperforming YTD we look for opportunities to get more positive on higher quality companies where valuations have compressed.” KeyBanc downgrades Salesforce to sector weight from overweight KeyBanc its survey checks appear negative for the company. “Our checks and customer conversations have not been strong, nor has the feedback been on Agentforce. What we can piece together in the disclosed numbers does not signal building momentum and, most recently, our CIO survey delivered another blow with Salesforce b eing a standout for the wrong reasons. All this leads to a reduction in estimates, a Sector Weight rating, and a removal of our price target.” Citi reiterates SpaceX as buy Citi said it’s sticking with the stock. “We rate shares of SPCX a Buy due to the following points: 1) Unrivaled launch capabilities right now and for the foreseeable future; 2) Unique capability of scaling space infrastructure and unlocking trillion-dollar market opportunities (Orbital AI and Starlink).” Citizens initiates Tesla as market perform Citizens said the optimism is “too high.” “We initiate coverage on Tesla w ith a Market Perform rating as we are concerned that the optimism built into the valuation from Optimus and Robotaxi expectations suggest too near a launch for both products, which we believe are further from contributing to the company than the Street currently appreciates.” Mizuho upgrades Five Below to outperform from neutral Mizuho said shares are at a “discounted multiple.” “We’re upgrading Five Below (FIVE) to Outperform following a momentum unwind and nearly 30% share price dislocation from recent peaks (SP500 +5%).” Wolfe upgrades W.W. Grainger to outperform from peer perform The firm said it’s getting “increasingly confident” in W.W. Grainger. “The stock has outperformed post-1Q earnings and valuation has extended to new highs. But we are increasingly confident in continued earnings momentum and view the valuation as reasonable in relation to our Distributor coverage.” Wolfe upgrades ITT to outperform from peer perform Wolfe said the stock is a “compounding flywheel.” “In conjunction with our 2Q26 earnings preview, we upgrade ITT to OP from PP. ITT has lagged over the last couple months, thus providing an attractive entry point for a stock that we believe can be a consistent compounder over the medium-term.” William Blair initiates Advanced Micro Devices as market perform The firm said it’s concerned about rising competition for AMD. ” Advanced Micro Devices (AMD) is positioned as a major beneficiary of the AI infrastructure boom. Compute demand is being accelerated by the deployment of more advanced and powerful models as well as the rise of inference and agentic use-cases.” Bank of America adds Meta to the US1 list The firm added the stock to its best ideas list. “We are adding Meta Platforms, Inc. (META) to the US 1 List.” Citi upgrades Knight-Swift and Saia to buy from neutral Citi said both transport companies are compelling. “We return to Buy on KNX and SAIA and Neutral on ODFL, as the pull-back in share prices in recent weeks now offers sufficient upside to support our ratings changes (KNX and ODFL TPs unchanged at $90 and $228, respectively, SAIA TP to $488 from $524).” Deutsche Bank reiterates MP Material as buy Deutsche lowered its price target on the stock to $61 per share from $70 but said it sees an attractive “entry point.” “MP stock is down ~24% since May 1st, now trading right around the $50/sh mark (as of 7/7 close), and is down 31% from its YTD high.” Deutsche Bank downgrades Simon Property Group to hold from buy Deutsche downgraded the stock on valuation. “We are downgrading SPG t o a Hold rating from our prior BUY rating. Fundamentally.” Cantor Fitzgerald initiates Merlin as overweight Cantor said the autonomy systems company has plenty of upside. “We Initiate Coverage of Merlin, Inc. (“MRLN”) with an Overweight Rating and a 12-month PT of $11.” JPMorgan initiates Perimeter Solutions as overweight The firm said the fire retardants company has a differentiated offering “We are initiating coverage of Perimeter Solutions (PRM) with an Overweight rating and a $50 price target (~50% upside potential).” JPMorgan initiates CECO Environmental as overweight JPMorgan said the environmental solutions company has plenty of upside. “We are initiating coverage of CECO Environmental (CECO) with an Overweight rating and a $130 price target, reflecting roughly 65% upside potential. CECO provides air, water, and energy solutions spanning turbine emissions packages, scrubbers, oxidizers, filtration systems, and now industrial process heating via the Thermon acquisition.” Deutsche Bank reiterates McDonald’s as buy Deutsche lowered its price target on the stock to $325 per share from $350 but says it’s standing by the stock. “We believe MCD is likely to put up a mixed 2Q print, reflecting lackluster US SSS during the quarter (though this is anticipated), while we think international trends have been relatively more stable, supporting some potential for upside to IOM [international operated markets] SSS expectations.”
Here are Thursday’s biggest analyst calls: Nvidia, SpaceX, Tesla, AMD, Toast, Meta, Five Below, MP Materials & more
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