Top 5 Buy Calls:
1. Alphabet upgraded to Overweight at Wells Fargo
Wells Fargo upgraded Alphabet (GOOGL) to Overweight from Equal Weight with a price target of $387, up from $354. The company has a leadership position in the “three key traits” of an AI winner, namely customer data, distribution, and compute capacity, the firm tells investors in a research note. Wells says its capacity analysis confirms Alphabet has an opportunity to exploit data and distribution advantages for consumer and enterprise AI products. Project Google expands the company’s compute capacity to 35GW by 2028 from 15GW at the end of 2025, extending its capacity lead relative to the hyperscaler peer group, contends Wells. The firm says “capacity is king.”
2. Nvidia upgraded to Buy at Aletheia
Aletheia upgraded Nvidia (NVDA) to Buy from Hold with a $250 price target. The firm sees industry-wide compute spending rising 75% year-over-year to $530B. Nvidia and the tensor processing unit supply chains will continue to capture the “lion’s share of value creation,” Aletheia tells investors in a research note. Aletheia views the stock as “too cheap to ignore.”
3. Qualcomm upgraded to Buy at Loop Capital
Loop Capital upgraded Qualcomm (QCOM) to Buy from Hold with an $185 price target. Year-to-date share price underperformance has been “fueled by a perfect storm of circumstances,” but memory chips won’t remain in short supply forever and the smartphone market should recover and normalize from the initial shock, the firm tells investors. By this time next year, Qualcomm’s chip shipments to Apple (AAPL) will be on pace to be less than 10% of total revenue and investors will feel more confident in the scenario whereby FY29 Automotive and IoT sales approach or eclipse Handset sales for the first time, signaling a “milestone” in Qualcomm’s diversification path, Loop Capital added.
4. Spotify upgraded to Buy at Arete
Arete upgraded Spotify (SPOT) to Buy from Neutral with a $586 price target. The stock is down 40% from peak levels on concerns around the impact of AI on music and how often Spotify can raise prices, the firm tells investors in a research note. Arete sees the company’s Premium gross margins getting better and views Spotify’s AI disruption risk as minimal. The firm expects an 18 month cadence of “modest” price hikes from the company.
5. Oppenheimer upgrades Oracle to Outperform, sees favorable risk/reward
Oppenheimer upgraded Oracle (ORCL) to Outperform from Perform with an $185 price target. The firm says that while its call may be early, since it will take time Oracle to show financial success as a more capital-intensive business in future results, Oppenheimer sees a favorable risk/reward after the stock’s multiples have been cut by more than half since September. The firm argues that Oracle is a strong EPS compounder and AI winner as sentiment shifts and amid mitigating risks.
Top 5 Sell Calls:
1. Target reinstated with an Underperform at BofA
BofA analyst Christopher Nardone reinstated coverage of Target (TGT) with an Underperform rating and $103 price target. The firm thinks consensus expectations for consistent positive comp growth beyond fiscal Q1, which should be aided by higher tax refunds, may prove “aggressive” and thinks an EPS recovery will take time, the analyst tells investors.
2. Comcast downgraded to Underperform at BNP Paribas on fiber headwinds
BNP Paribas analyst Sam McHugh downgraded Comcast (CMCSA) to Underperform from Neutral with a price target of $27, down from $28. Comcast looks “most exposed” to incremental fiber headwinds, says the analyst, whose work on fiber leaves the firm “more bearish” on its outlook in the medium-term.
3. Oddity double downgraded to Underperform from Buy at BofA
BofA double downgraded Oddity (ODD) to Underperform from Buy with a price target of $10, down from $58, after the company disclosed meaningful challenges in acquiring new users along with its Q4 report. The issue, discovered in late January, led Oddity to give Q1 revenue guidance of down 30% year-over-year and forgo providing full year guidance, notes the firm, which forecasts revenue to be down 21.5% in 2026 and sees a low likelihood of recovery until at least 2027.
Oddity downgraded to Underweight at Barclays
Barclays analyst Lauren Lieberman downgraded Oddity to Underweight from Equal Weight with a price target of $13, down from $40. The company guided to sales being down 30% in Q1 after consistently growing 20%-plus, the analyst tells investors in a research note. Further, Barclays says Oddity has limited visibility into if and when its sales and profitability will stabilize. The firm is concerned that “deeper challenges may emerge.”
4. Fox Corp. double downgraded to Underperform at BofA on NFL renewal risk
BofA double downgraded Fox Corp. (FOXA) to Underperform from Buy with a price target of $45, down from $80. The firm’s prior bullish view was driven by Fox’s asset mix, which is biased to sports and news. However, BofA views Fox as the most exposed stock in its media coverage to the upcoming NFL renewal. While there are many permutations of potential deals, assuming a 1.5-time average annual value step-up and all else equal, there is about 22% downside risk to its FY27E EBITDA estimate, the firm tells investors. With about a 27% decline since January 6, the market has reflected some of this risk in recent weeks, but the firm believes the stock will remain challenged until there is certainty with the NFL, BofA added.
5. VF Corp. downgraded to Underweight at JPMorgan
JPMorgan downgraded VF Corp. (VFC) to Underweight from Neutral with a price target of $18, down from $19. The firm downgraded the shares after reducing its fecal 2027 and 2028 earnings estimates below consensus. JPMorgan’s work suggests an extended brand recovery for Vans.
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