Here are the biggest calls on Wall Street this week:
Goldman Sachs upgrades Advanced Micro Devices to buy from neutral
Goldman upgrades the stock following earnings.
“We upgrade AMD to Buy with a 12-month price target of $450 (27% upside) given tailwinds to its server CPU business we expect from agentic AI, as well as upside in datacenter GPUs in 2027 and beyond.”
Seaport initiates Lam Research and Applied Materials at buy
Seaport said the wafer fabrication equipment companies have plenty of upside.
“We are initiating coverage of AMAT with a Buy rating and $500 PT, LRCX with a Buy rating and $300 PT, and ACMR with a Buy rating and $75 PT.”
Goldman Sachs reiterates Nvidia as buy
Goldman said it expects a “beat and raise” quarter ahead of earnings later this month.
“We expect investors to focus on: (1) the magnitude of upside to Nvidia’s $1 trillion datacenter guidance at GTC; (2) potential upside from agentic AI to the server CPU business; (3) competitive dynamics; (4) gross margin outlook given rising input costs.”
Barclays reiterates Microsoft as overweight
The bank said the Microsoft story “remains on track” following a series of investor meetings with the company.
“We took away two points from our investor trip to MSFT. (1) Efficiency gains are a main focus for management and are having tangible benefits like better Azure growth. (2) Growing Copilot adoption will likely trigger a greater focus on a seat/ consumption pricing. Overall, the story remains on track.”
Mizuho reiterates Alphabet as outperform
Mizuho raises its price target on the Google parent to $460 per share from $420.
“We believe consensus estimates continue to significantly under-model Google Cloud revenue and operating income potential over the next two years.”
Evercore ISI reiterates Apple as outperform
Evercore said Apple’s supply chain is robust.
“AAPL’s supply chain playbook remains highly sophisticated, but the AI cycle has meaningfully reduced the relative leverage it historically carried with key suppliers. Still, incremental insourcing and AAPL’s sophisticated supply/demand planning leave it better positioned than many OEM peers. Maintaining our OP rating and $330 target.”
Wells Fargo reiterates Disney as a top pick
Wells said the stock remains a top idea after earnings on Wednesday.
“Our Top Pick thesis on DIS has been a new year w/ new mgmt for the self-help required to get the most out of the assets. We see early signs of content + DTC improvements, while strong Parks trends support EPS growth. We see >30% 12-mo upside”
Loop reiterates CoreWeave as buy
Loop raised its price target on CoreWeave ahead of earnings on Thursday.
“Raising our PT to $155 from $120 to account for the growing top line demand and an increased recognition of Neoclouds strategic positioning in the AI ecosystem.”
Goldman Sachs reiterates Uber as buy
Goldman said Uber’s product initiatives are “building momentum” following earnings on Wednesday.
“Over the coming quarters, we expect that investor narratives will remain anchored around the macro activity levels across consumer and enterprise usage, the competitive dynamics across all operating segments and how mgmt framing might evolve with respect to the balance between returns, investments, and outside capital allocation.”
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