Here are Wednesday’s biggest calls on Wall Street:
Oppenheimer reiterates Nvidia as outperform
Oppenheimer said it’s bullish ahead of earnings next week.
“We expect NVDA CY26 FCF to approach $200B with cash return spread between buybacks and seeding emergent AI ecosystem. If half FCF used for dividend, yield would be nearly 2.5%. Reiterate Outperform, $265 target.”
Bank of America reiterates Nvidia as buy
The bank raised its price target on the stock.
“NVDA : top sector pick, raise est./PO to $320 from $300. Upcoming catalyst s include earnings, Computex tradeshow (possible new CPU launch), Vera Rubin launch, and 2H return of cash...”
Daiwa reiterates Apple as outperform
Daiwa raised its price target on the stock to $325 per share from $310.
“Apple’s biggest strength is its huge ecosystem. We continue to see the shares as a core holding. 2HCY26 concerns are managing the memory situation well and the transition, which could create turbulence for 1-2 qtrs.”
Bank of America reiterates Micron Technology as buy
Bank of America raised its price target on the stock to $950 from $500.
“Despite recent run s in memory stocks, we expect memory demand to continue outgrowing supply driven by AI, memory pricing to generally hold up (supply/demand sufficiency ratio not expected to rise above 110%), and memory (MU) earnings to remain relatively stable through CY28.”
Morgan Stanley reiterates Amazon as overweight
Morgan Stanley said it’s bullish on Amazon’s ability to increase delivery speed.
“AMZN is expanding 30 minute delivery to 10s of millions of Americans by year-end ’26. This furthers AMZN’s surging push into the $1.7tln grocery/CPG market, is forward-looking agentic investment (infrastructure and inventory), and speaks to rising competition for DASH/UBER/CART/grocers”
Daiwa downgrades Advanced Micro Devices to outperform from buy
Daiwa downgraded the stock on valuation.
“Wasn’t just AMD, most semi names jumped over past 30-45 days. What changed, earnings results that overachieved and strong guidance ➢ But, we lower our rating to 2/Outp, from 1/Buy, given appreciation.”
Leerink upgrades Johnson & Johnson to outperform from market perform
Leerink said it sees “revenue ramps.”
“We are upgrading JNJ shares from MP to OP and raising our PT from $252 (20.0x of our old ’27E EPS of $12.62) to $265 (21.0x of our new ’27E EPS of $12.61), representing 18% upside to Mar 12 close price of $224.”
Roth initiates Unusual Machines at buy
Roth said the drone company is “well positioned.”
“We expect UMAC to supply a healthy component share for DoW’s $1B Drone Dominance program. FAA Part 135 certifications are a good start in delivery, and we look for 2026 beyond-visual-line-of-sight (BVLOS) certifications. As a diversified supplier and low-cost producer, UMAC is well positioned.”
Rothschild & Co Redburn initiates Heico at buy
Rothschild said the company has a “proven track record.”
“History teaches us that HEICO tends to outperform the commercial aerospace aftermarket when airline margins deteriorate, yet consensus estimates suggest otherwise.”
Argus upgrades Wendy’s to buy from neutral
Argus said buy the stock ahead of reports of the company going private.
“We are upgrading our rating on Wendy’s Co. to BUY from HOLD. The shares got a big boost on May 12, with news of the potential move to take the restaurant chain private. The Financial Times reported that activist investment firm Trian Fund Management, run by Nelson Peltz, is pursuing a consortium to take Wendy’s private. Trian and its co-founders owns about 40% of the WEN stock.”
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