Here are the biggest calls on Wall Street on Tuesday:
MoffettNathanson upgrades Shopify to buy from neutral
The firm says it sees an “attractive entry point.”
“The wipeout in software stocks on rising vibe coding fears has hit SHOP over the company’s perceived vulnerability, despite it not being a software company in the traditional sense. This has created an unusually attractive entry point for a stock that we believe will be a long-term winner in the AI commerce wars.”
Bernstein reiterates Nvidia as outperform
Bernstein says the “AI growth trends still has legs” for Nvidia shares.
“We continue to maintain a positive view especially of the AI compute space (NVDA, AVGO) and believe the AI growth trend still has legs...”
RBC upgrades Thomson Reuters to outperform from sector perform
RBC says the stock is an AI winner.
“Acknowledging more complex TAM and market share equations for Thomson Reuters with agentic AI, our scenario analysis points to an asymmetric set-up now to the upside following the pullback in the stock.”
Deutsche Bank reiterates Micron as buy
Deutsche raised its price target on Micron to $500 per share from $300.
″...we see the current market environment as remaining favorable for MU in the coming quarters.”
Jefferies upgrades Fluence Energy to buy from hold
Jefferies said in its upgrade of the solar clean energy company that it sees data center demand upside.
“We upgrade FLNC to Buy on a clear US demand recovery, backlog‐supported FY26 growth, and long‐term data center upside.”
Jefferies upgrades Vistra to buy from neutral
Jefferies says investors should buy the dip in the energy company..
“Upgrade to Buy with improved risk/reward following recent share weakness. VST is down ~25% since September 2025 despite announcing Texas & PJM data center nuclear contracts and the attractively priced Cogentrix acquisition.”
Citi downgrades Under Armour to sell from neutral
Citi says it sees too many negative catalysts.
“While 3Q26 EPS beat cons, there are several reasons we are cautious on the NAM [North America] brand turnaround: (1) UAA plays in a highly competitive environment where stronger brands like Nike/Adidas/On/Hoka/Salomon will likely be prioritized by UAA’s key retail partners over UAA; (2) DTC traffic remains weak; and (3) UAA will likely need to invest more in marketing/brand building.
Wells Fargo reiterates Walmart as overweight
Wells raised its price target on Walmart to $140 per share from $130 ahead of earnings next week.
“Expect a solid Q4 w/ 4.5%+ US SSS & a slight EPS beat. The ’26 outlook is tricky given historical conservatism; but investors expect initial guide below St. No risk to narrative, but +16% YTD (vs. SPX +1.7%) and high valuation may limit N/T upside.”
Raymond James upgrades Take-Two to strong buy from outperform
The firm says it’s a “fear driven buying opportunity.”
“We are upgrading shares of Take-Two (TTWO) to Strong Buy and keeping our $285 price target intact.”
Daiwa upgrades Palantir to buy from neutral
Daiwa upgraded Palantir following its recent earnings report.
“The robust showing continued to be driven by the US business which saw US commercial revenue surge 137%, accelerating 16 points vs. 3Q.”
Read more.
HSBC downgrades Estee Lauder to hold from buy
HSBC says Estee Lauder’s earnings recovery is already priced in.
“Downgrade to Hold as a material earnings recovery is mostly priced in.”
Gordon Haskett upgrades Booking Holdings
The firm says concerns about AI are overdone.
“We’re upgrading BKNG to Buy from Hold, making it our highest conviction idea. We believe investors have overreacted to AI-driven competitive encroachment concerns and discounted key aspects of BKNG’s operational advantages and defensive positioning.”
Read more.
Bank of America reiterates Caterpillar as buy
Bank of America raised its price target on the stock to $825 per share from $735.
“CAT is a global powerhouse in mining, construction, oil and gas, rail, and power systems equipment.”
Stifel initiates Ceva as buy
Stifel says shares of the software and semiconductor IP company have more room to run.
“We are initiating coverage of Ceva, Inc. (CEVA) with a Buy rating and $30 target price.”
Bank of America initiates Remitly Global as buy
The firm says it sees a “multi-year growth opportunity.”
“We initiate coverage on Remitly Global (RELY), a digital native remittance platform at Buy with a $18 PO implying 34% upside potential.”
Morgan Stanley resumes Qualcomm as underweight
Morgan Stanley resumed coverage of the stock and says it sees “memory headwinds.”
“We have admired Qualcomm’s execution around its diversification strategy but earnings power is already optimized, and the memory shortage is likely to create a tough Android environment 2h.”
Oppenheimer upgrades Unity to outperform from perform
Oppenheimer says the software stock is too attractive to ignore.
“We view the current risk/reward profile as favorable. We believe U will see accelerating revenue growth and margin expansion in 2026, validating its role not as a victim of AI, but as a primary platform for its deployment.”
Morgan Stanley reiterates Tesla as equal weight
The firm says it’s bullish on Tesla’s opportunity in solar.
“We believe TSLA’s decision to allocate capital to solar mfg is rooted in a strategic long-term outlook around evolving geopolitics and data center demand. Besides the potential 35% uplift to our Tesla Energy valuation, it offers potential synergies by integrating deeper into the energy supply chain.”
Bernstein reiterates Apple as outperform
Bernstein raised its price target on Apple to $340 per share from $325.
“The bigger story will be Apple Intelligence / Siri 2.0 coming sometime this year. Although much of investors current worries remains stuck on memory price impact on margins and demand, our analysis shows that the impact on EPS should be relatively muted and the upcoming Apple Intelligence release will be the bigger story..
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