Here are the biggest calls on Wall Street on Wednesday:
Cantor Fitzgerald reiterates Nvidia as outperform
The firm says it’s bullish on the company’s partnership with Marvell.
“For NVIDIA, we view this as an incremental positive as the announcement allows yet another avenue for NVIDIA to penetrate large hyperscaler customers outside traditional GPU compute.”
Benchmark initiates Microsoft as buy
Benchmark says the tech giant is a “juggernaut.”
“We are initiating coverage of Microsoft Corporation (MSFT) with a Buy rating and a $450 price target, serving as the artificial intelligence (AI) orchestration juggernaut that empowers enterprise/consumer via its comprehensive portfolio of digital applications, collaboration & communication tools, and cloud services.”
Wells Fargo adds Advanced Micro Devices to the tactical ideas list
Wells added the stock to its second quarter top ideas list and says it sees a slew of positive catalysts.
“We’re adding AMD to our 2Q26 Tactical Ideas List.”
JPMorgan downgrades Nike to neutral from overweight
JPMorgan downgraded the stock following earnings.
″...while NKE has begun to realize initial greenshoots from its Sport Offense strategy within North America and the running category, the balance of the portfolio including International regions continue face actions to reset the marketplace and sell-through results remain challenged globally, resulting in an elongated timeline for the model to reach an inflection to revenue growth and a return to double-digit operating margins.”
Bank of America reiterates Marvell as buy
Bank of America raised its price target to $125 per share from $110 following the company’s announcement of its partnership with Nvidia.
“On Tuesday morning, MRVL and NVDA announced a strategic partnership to enable heterogeneous AI infrastructure under the NVLink Fusion ecosystem.”
Wells Fargo initiates Boeing as buy
Wells said in its initiation of Boeing that it sees “compelling free-cash flow upside.”
“We initiate coverage of BA with an Overweight rating, as we forecast a sharp [free cash flow] recovery as production normalizes. Our $250 price target is based on a 20x FCF multiple on our 2028 forecast.”
Raymond James upgrades Disney to outperform from market perform
The firm says the stock’s valuation is attractive.
“We upgrade Disney to Outperform, from Market Perform, and establish a price target of $115, as we see the current macro backdrop and international visitation headwinds as an opportunity to invest at a very attractive valuation.”
Raymond James upgrades United Health to outperform from market perform
Raymond James says it sees a “compelling entry point.”
“We are upgrading UNH to Outperform rated and establishing a new $330 price target as we see the potential upside to earnings estimates over the next few years from 1) announced and potential AI initiatives to lower G&A/revenue, 2) margin improvement in the Optum Health from better risk margins, lower G&A and higher FFS [fee-for-service] margins.”
HSBC upgrades Wells Fargo and Bank of America to buy from hold
HSBC says both banks offer “scarcity value.”
“Our Buy rating for WFC is also underpinned by a low bar on its net interest income (NII) outlook, room to lift retail banking profitability, sizable excess capital, and an attractive valuation. For BAC, we feel its leadership position across financial services businesses, better-than-average EPS growth outlook, and strong credit track record are no longer adequately reflected in its valuation.”
Berenberg initiates Mobileye as buy
Berenberg says the stock is cheap.
“We initiate coverage of Mobileye with a Buy rating and a price target of $9.30: Mobileye is the dominant global supplier of technology and software for camera-based advanced driver assistance systems (ADAS), including its EyeQ system-on-chips (SoC) offering.”
HSBC initiates Pony AI as buy
HSBC says the robotaxi company is a share gainer.
“Pony is the market leader, with more than 3,000 robotaxis planned in 2026.”
