Here are the biggest calls on Wall Street on Wednesday:
Wells Fargo upgrades Airbnb to overweight from equal weight
Wells said in its upgrade of Airbnb that it sees robust innovation. “Accelerating pace of innovation makes upside options a reality. More aggressive hotel supply push and sponsored listings beginning in ’27 drive revs +6%/+11% and EPS +7%/+12% vs. Street in ‘27/’28, respectively.” Read more.
BMO initiates Toast, Visa and Mastercard at outperform
BMO said Toast, Visa and Mastercard are “core holdings.” “That said, we see this divergence increasingly disconnected from fundamentals and believe the group is (1) more insulated from AI disruption than narratives suggest, with AI more likely to enhance operating efficiency (and, over time, top-line growth) than displace core economics; (2) characterized by a number of idiosyncratic-upside stories.”
Wolfe Research reiterates Netflix as outperform
Wolfe said user engagement fears are overdone. “Investors often fret about Netflix’s attention share losses to YouTube, Meta, and TikTok, but the data show that Netflix’s core engagement trends are positive. Further, Netflix sells a highly differentiated product whose value is indirectly tied to raw engagement. That said, more is better.”
Compass Point initiates SharonAI at buy
Compass said it sees several positive catalysts ahead for the cloud computing AI company. “Our investment thesis rests on three points: (1) first major contract moves SharonAI beyond setup and into contract-backed scale; (2) Australian capacity build gives the company a credible base from which to deploy; and (3) partner-and-financing stack gives SharonAI a path to grow quickly, provided execution keeps pace.”
Evercore ISI downgrades Frontline and DHT Holdings to in line from outperform
Evercore said it’s concerned about war headwinds for the tanker owners. “As a result, we downgrade DHT and FRO to In Line (from Outperform) and NAT to Underperform (from In Line) based on the scenarios we detailed above for potential risk/reward from here, and an incrementally negative utilization base case outside of war-related disruptions.”
Roth Capital initiates Portillo's at buy
Roth said the beef and hot dog chain is “undervalued.” “We initiate coverage of Portillo’s (PTLO) with a Buy rating and $9 price target. PTLO’s 43-unit Chicagoland core, which we estimate generates $80M of EBITDA and is worth almost $1B, is being discounted due to prior management’s national expansion missteps and macro weakness.”
BMO reiterates Alphabet as outperform
BMO raised its price target to $410 per share from $400. “We maintain that Top Pick GOOGL remains the best way to own AI in our coverage universe, as it continues to expand its leadership positions across the AI stack.”
Roth Capital initiates Cava Group at buy
Roth said it has “long-term confidence” in the restaurant chain. “We initiate coverage of CAVA Group (CAVA) with a Buy rating and $106 price target.”
Susquehanna initiates Viking Holdings at positive
Susquehanna said the cruise operator has a “growing addressable market.” “We are initiating coverage on cruise line VIK with a Positive rating and $100 price target.”
Cantor Fitzgerald initiates Tesla at overweight
Cantor said it’s bullish ahead of Tesla earnings. “We expect TSLA’s autonomous capabilities to continue to expand to other European cities throughout this year, and we view this as a material opportunity for TSLA to recapture market share in Europe.”
Barclays upgrades Qorvo, Skyworks Solutions and Seagate Technology to overweight from equal weight
Barclays said a foldable iPhone could be a catalyst for Skyworks and Qorvo. The bank also upgraded Seagate and said the stock has “value.” “We upgrade SWKS and QRVO to OW… We see the most value in the Storage/Memory hierarchy in the drive names and see both earnings and multiple expansion.”
Raymond James initiates WisdomTree at outperform
Raymond James said the company has a differentiated offering. “We initiate coverage on WT with an Outperform rating. The company provides exchange traded products (ETPs) internationally. AUM of $150.6 billion in 1Q26 has grown at a high-teens CAGR over the last four years.”
Bank of America initiates Life360 at buy
Bank of America said the company has a long runway for growth. “We initiate coverage on Life360 with a Buy rating and PO of $60. We believe Life360’s leadership in the fast-growing family safety category, combined with a large and underpenetrated global opportunity, provides a long runway for sustained user growth.”
Goldman Sachs upgrades Genmab to buy from neutral
Goldman said it sees “key drivers” ahead, including lymphoma drug Epkinly. “We upgrade Genmab to Buy from Neutral, as our review of key assets Epkinly, Rina-S and petosemtamab leaves us more positive on risk/reward through a catalyst-rich remainder of 2026.”
Morgan Stanley upgrades WaterBridge Infrastructure to overweight from equal weight
Morgan Stanley said it sees significant upside. “WBI offers the strongest EBITDA growth in our midstream coverage.”
UBS upgrades Biogen to buy from neutral
UBS cited multiple upcoming catalysts. “We are upgrading BIIB to BUY, PT to $225 (from $185) based on increasing conviction on a slew of pipeline catalysts over the next 12–15 months…” Read more.
Truist Financial upgrades SBA Communications to buy from hold
Truist sees “multiple paths to upside.” “We are upgrading SBAC shares to Buy (from Hold), with 16% upside potential to our $247 PT (from $193 prior).”
MoffettNathanson reiterates Apple as neutral
The firm flagged concerns about Services. “In the latest Sensor Tower data, there are the first real signs that behavior is changing… the App Store could become a relative headwind to Apple’s Services revenue growth.”
Bank of America upgrades Twilio to buy from underperform
Bank of America said Twilio is well positioned. “We upgrade Twilio (TWLO) to Buy… as we see positive inflections in its strategic positioning in AI and its fundamentals… a key infrastructure layer for AI-driven voice and messaging use cases.”
Barclays reiterates Nvidia, Broadcom, Credo Technology and MACOM Technology Solutions as overweight
Barclays said the group remains its top ideas. “…we still think names like NVDA, AVGO, CRDO and MTSI are most interesting here.”
