Here are the biggest calls on Wall Street on Wednesday:
Goldman Sachs reiterates Broadcom as Buy
Goldman raised its price target to $500/share from $480 ahead of Broadcom earnings.
“We believe expectations are modestly elevated heading into the print, as CapEx spending patterns at key customer accounts remain strong.”
Oppenheimer upgrades Rubrik to Outperform from Perform
The firm cited continued product strength.
“We are upgrading Rubrik (RBRK) to Outperform (from Perform) and establishing a PT of $85, predicated on our strong checks from value-added resellers.”
Baird initiates coverage of Pinnacle Financial Partners as Outperform
Baird says the risk/reward is compelling.
“We are initiating coverage of PNFP with an Outperform rating and $115 price target.”
William Blair reiterates Nvidia as Outperform
The firm remains bullish ahead of earnings.
“We expect Nvidia will report another beat-and-raise quarter this week, with second-quarter revenue guidance likely to exceed $90 billion.”
Needham & Company initiates QuickLogic Corporation as Buy
Needham sees meaningful revenue upside.
“We are initiating coverage of QuickLogic with a Buy rating and establishing a $22 PT.”
UBS upgrades Packaging Corporation of America to Buy from Neutral
UBS highlighted improving demand and pricing power.
“We upgrade PKG from Neutral to Buy, as we expect the $50/ton June price hike to stick amid improving demand and tight supply.”
Jefferies upgrades C.H. Robinson to Buy from Hold
Jefferies sees operational and balance-sheet upside.
“We are upgrading CHRW to Buy following a recent HQ visit, which materially reinforced our conviction across three key dimensions...”
TD Cowen upgrades Ermenegildo Zegna to Buy from Hold
TD Cowen says the luxury retailer’s fundamentals are improving.
“We see fundamentals improving, supported by Zegna’s durable, vertically integrated core and a clearer path to stabilization at Tom Ford and Thom Browne.”
Deutsche Bank upgrades Humana to Buy from Hold
Deutsche believes the managed-care rally still has room to run.
“We believe it is not too late to participate in an extended MCO rally that is just getting started.”
Citigroup upgrades California Resources Corporation and Ovintiv to Buy from Neutral
Citi sees further upside in both energy names.
“The acquisition of Montney peer Arc Resources should bring additional attention to OVV’s position in the play...”
Raymond James upgrades SM Energy to Outperform from Underperform
Raymond James says the company benefits from higher oil prices.
“SM has been one of the biggest beneficiaries of the oil move post the Iran war...”
Bank of America reiterates Alphabet as Overweight
The firm highlighted AI momentum following the developer conference.
“At I/O 2026, Alphabet introduced a broad range of new AI products, underscoring accelerating velocity of AI innovation.”
Wells Fargo reiterates Marvell Technology as Overweight
Wells Fargo raised its price target ahead of earnings.
“We see AWS Trainium deploy, XPU-attach ramp, and continued Interconnect momentum as driving sufficient upside to support our OW rating.”
Baird reiterates Amazon as Outperform
The firm is bullish ahead of Prime Day 2026.
“We believe current sell-side consensus might understate the ‘shift’ of revenues from last year’s July event into Q2 this year.”
William Blair initiates Casey's General Stores as Outperform
The firm called the stock compelling and defensive.
“The most compelling aspect of Casey’s is the company’s growing credibility as a highly consistent, inherently defensive model.”
Wolfe Research reiterates Five Below as Outperform
Wolfe cited strong feedback from the company’s “Golden Ticket” Dumpling event.
“Our checks suggest the event was a major success, and drove an acceleration in search trends with strong employee feedback.”
Maxim Group upgrades Gilead Sciences to Buy from Neutral
Maxim believes the recent pullback presents a buying opportunity.
“GILD shares have pulled back from an all-time high, now trading at a P/E multiple of 15.1x midpoint 2026 guidance for non-GAAP EPS.”
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