Here are the biggest calls on Wall Street on Wednesday.
Bernstein initiates GE Vernova as Outperform
Bernstein says the stock has significant upside potential.
“US gas has the opportunity to displace coal globally, thus helping to reduce emissions while keeping electricity costs low in the US and providing firm, reliable power. For this reason, we rate GEV Outperform.”
Needham initiates NeoVolta as Buy
Needham says shares of the battery company have further room to run.
“We are initiating coverage of NeoVolta, Inc. (NASDAQ: NEOV) with a Buy rating and an $8.00 price target.”
Bernstein reiterates Nvidia as Outperform
Bernstein says it remains positive on Nvidia shares.
“The data center opportunity is enormous and still in its early stages.”
Roth initiates Nano Nuclear Energy as Buy
Roth says the nuclear company is firing on all cylinders.
“NANO Nuclear is introducing a differentiated MMR [micro modular reactor] as a solution to address global power constraints.”
Goldman Sachs reinstates Allegiant as Buy
Goldman says it is bullish on the company’s acquisition of Sun Country.
“We are reinstating a Buy rating on ALGT shares following the close of its acquisition of Sun Country in May, with a $125 12-month price target, implying 31% upside. We believe the merger creates incremental, profitable growth opportunities in an improving industry competitive environment, supported by a unique fuel hedge and an attractive valuation.”
Raymond James initiates Janus Living as Strong Buy
Raymond James says the senior living REIT offers substantial upside.
“We are initiating coverage of JAN with a Strong Buy rating and a $34 price target.”
MoffettNathanson reiterates Netflix as Buy
The firm lowered its price target but remains positive on the stock.
“We maintain our Buy rating on Netflix but lower our price target by $5 to $115...”
Morgan Stanley downgrades ResMed to Equal Weight from Overweight
Morgan Stanley says it sees slowing growth ahead for ResMed.
“Looking ahead, our forecasts imply lower revenue growth, reflecting the assumed re-entry of Philips into the US device market in 2027.”
Morgan Stanley upgrades Creditcorp to Overweight from Equal Weight
Morgan Stanley says Peru’s political transition is a positive catalyst.
“We upgrade BAP to Overweight as Peru’s likely political transition improves the macro outlook, supporting confidence, credit growth, and ROE.”
Deutsche Bank reiterates Micron as Buy
Deutsche Bank raised its price target to $1,500 per share from $1,000 ahead of the company’s earnings next week.
“We are raising our MU estimates ahead of the company’s May-quarter report to reflect strengthening industry demand dynamics, as well as MU’s positive pre-announcement last month, where management noted a stronger financial outlook since its last earnings call.”
Rothschild & Co Redburn upgrades Lyft to Buy from Neutral
The firm says shares are attractive at current levels.
“Although Lyft does not have the same scale advantages as Uber, we argue that the ride-hailing market will always have room for at least one challenger.”
Bernstein reiterates Arm and Advanced Micro Devices as Outperform, Intel as Market Perform
Bernstein raised its price target on AMD to $600 per share from $525. The firm also increased its Intel price target to $100 from $65 and raised its Arm target to $500 from $300.
“Raising Arm PT to $500, as Arm is the structural beneficiary of the renaissance of CPUs for agentic AI. ... Updating numbers and raising AMD and INTC PTs. Both companies should benefit from stronger and more sustained server demand, though AMD’s products remain superior for now, and we believe they will continue to gain share.”
Morgan Stanley upgrades Charles River to Overweight from Equal Weight
Morgan Stanley says the life sciences company is well positioned.
“With a strong uptick in biopharma funding beginning to translate into RFPs [requests for proposals] and bookings, we think CRL is well positioned to benefit given its leading preclinical capabilities.”
Citi initiates Figma as Buy
Citi says the market is underestimating the company’s growth prospects.
“We initiate coverage of Figma with a Buy/High Risk rating and a $36 price target.”
Wolfe reiterates Tesla as Peer Perform
Wolfe says it sees a favorable earnings setup for Tesla.
“TSLA stock has continued to hold up well even as investors gravitate toward SPCX, with the market assuming an increasing likelihood of an eventual TSLA/SPCX merger, which provides downside support.”
Citi reiterates Applied Materials, KLA Corp., and Lam Research as Buy
Citi raised its price targets on several semiconductor equipment companies on Wednesday.
“We update our bull-case WFE [wafer fab equipment] forecast to $145B/$200B/$250B in 2026/27/28, align AMAT/LRCX/KLAC estimates with our revised WFE model, and raise price targets to $710/$450/$290, respectively, as we roll forward our targets based on CY28 earnings power.”
BTIG upgrades MFA Financial to Buy from Neutral
BTIG says the residential mortgage REIT is approaching an earnings inflection point.
“MFA has under-earned its dividend from a DE [distributable earnings] perspective over the past five quarters due to the drag from legacy residential transition loans.”
Oppenheimer initiates Middleby as Outperform
Oppenheimer says the food-service company is a “pure-play compounder.”
“Set to spin off its Food Processing business (Midera Food Processing) on July 6, we believe Middleby (MIDD) represents an attractive investment opportunity.”
JPMorgan reiterates Broadcom as Overweight
JPMorgan says investors should be aggressive buyers.
“We reiterate our Overweight rating on AVGO and would be aggressive buyers at current levels.”
Oppenheimer initiates BrightView as Outperform
The firm says the commercial landscaping company represents a turnaround story.
“We’re initiating coverage of BrightView, the largest commercial landscaping provider in the US, with an Outperform rating.”
DA Davidson upgrades Wabash National to Buy from Neutral
DA Davidson says it sees trailer demand improving.
“We hosted a group meeting with investors and WNC this week. Our takeaways were positive, leading us to upgrade the stock to Buy from Neutral. WNC expressed increasing confidence that trailer demand can return to replacement levels in 2027 following recent conversations with customers and the exit of some capacity from the freight market.”
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