What has Wall Street been buzzing about this week? Here are the top 5 Buy calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of March 30-April 2.
Top 5 Buy Calls:
1. Microsoft initiated with a Buy at Benchmark
Benchmark initiated coverage of Microsoft (MSFT) with a Buy rating and $450 price target. Microsoft is positioned as a leading AI orchestration platform across enterprise and consumer markets, supported by its broad portfolio of software, collaboration tools, and cloud services, the firm tells investors in a research note. The recent pullback from its October 2025 highs is viewed as a long-term buying opportunity, with AI-related capex concerns seen as shortsighted given strong demand visibility, contracted hardware capacity, and the company’s strategic positioning for the AI supercycle, Benchmark adds.
2. Disney upgraded to Outperform at Raymond James
Raymond James upgraded Disney (DIS) to Outperform from Market Perform with a $115 price target. The current macro backdrop and Disney’s international visitation headwinds provide an opportunity to invest at a “very attractive valuation,” the firm tells investors in a research note. Raymond James believes Disney shares are “historically cheap even in some of the more draconian scenarios” it stress tested. The firm points out the company’s streaming business represents the majority of its operating income growth. It sees Disney’s risk/reward as attractive at current levels.
3. Walmart upgraded to Buy at Erste Group
Erste Group upgraded Walmart (WMT) to Buy from Hold. Increased sales and profit in Q4 are “a positive development,” says the firm, which expects Walmart to exceed its own forecast for sales growth and operating profit in the current financial year.
4. Wells starts Boeing at Outperform on “sharp” cash flow recovery
Wells Fargo initiated coverage of Boeing (BA) with an Overweight rating and $250 price target. The firm sees a “sharp” free cash flow recovery at Boeing as its production normalizes. Wells expects share upside on higher MAX and 787 production rates along with Boeing’s “large working capital opportunity.” While 777X is a large drag on free cash flow over the near term, this should “meaningfully reverse with learning curve improvement” as production rates hit 3-4 per month toward the end of the decade, the firm tells investors in a research note.
5. Instacart, Expedia upgraded at Jefferies
Jefferies upgraded Instacart (CART) and Expedia (EXPE) to Buy from Hold with a price target of $45, up from $38. The firm says internet multiples have fallen 25% year-to-date and now trade at a record 30% discount to the S&P 500 Index, primarily on AI disintermediation concerns. However, recent developments suggest internet “is evolving into an AI beneficiary,” the analyst tells investors in a research note. Jefferies sees a buying opportunity in Instacart and Expedia following the pullback. The companies are positioned to beat consensus estimates, trades at “notable growth-adjusted” discount, and is less exposed to geopolitical risks, contends the firm.
Top 5 Sell Calls:
1. Starbucks initiated with an Underperform at BNP Paribas
BNP Paribas initiated coverage of Starbucks (SBUX) with an Underperform rating and $84 price target. While the firm sees Starbucks as a “high-quality, consumer compounder in a habitual category,” it argues that the current valuation “embeds flawless execution” and it sees a high degree of execution risk and a “less linear” turnaround.
2. DocuSign reinstated with an Underperform at BofA
BofA reinstated coverage of DocuSign (DOCU) with an Underperform rating and $52 price target. With the eSignature market approaching maturity and trending towards commoditization, Docusign is in “a more uncertain phase of its growth trajectory” as revenue growth has stagnated in the high single digits for the past 10 quarters, the firm tells investors. While DocuSign has the right pieces in place to establish itself as a dominant force in intelligent agreement management, an inflection is “not immediately apparent” and BofA sees limited near-term upside for shares.
3. Voyager Technologies initiated with an Underweight at Wells Fargo
Wells Fargo initiated coverage of Voyager Technologies (VOYG) with an Underweight rating and $21 price target. The firm cites the company’s “relatively light” backlog along with increased uncertainty around the way forward for the International Space Station replacement for the sell-equivalent rating. Voyager’s actual funded backlog is small at just $146M, the analyst tells investors in a research note.
4. BWX Technologies initiated with an Underweight at Wells Fargo
Wells Fargo initiated coverage of BWX Technologies (BWXT) with an Underweight rating and $200 price target. BWX “trades as a play on power/data center growth,” which the firm views as additive to the story. However, Wells does not think this should be the primary driver of the stock, arguing that while BWX has tracked the performance of power names such as Constellation Energy (CEG), NRG Energy (NRG), Talen Energy (TLN) and Vistra (VST), its results have been “closer to its defense peers.”
5. Sweetgreen initiated with an Underperform at BNP Paribas
BNP Paribas initiated coverage of Sweetgreen (SG) with an Underperform rating and $4.50 price target. The firm told investors that it sees risk to both sales and profit consensus estimates given the combination of structural challenges and macro headwinds.
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