Friday's Biggest Analyst Calls: Nvidia, Apple, Amazon, Boeing, Roku, Reddit, Nio, Canada Goose, Coinbase and More

Here are Friday’s biggest calls on Wall Street:

Wall Street analysts issued several significant stock ratings and target price changes on Friday, spotlighting a mix of technology, consumer, and industrial companies that investors should watch.

‍

Morgan Stanley on Apple (Overweight)
Morgan Stanley maintained its bullish stance on Apple and raised its price target from $235 to $240 per share after the company’s latest earnings report. Analysts described this as Apple’s strongest quarterly performance in over two years, with better-than-expected results across both products and services and strong regional sales growth.

‍

Bernstein on Coinbase (Outperform)
Bernstein reaffirmed its outperform rating for Coinbase, noting that the cryptocurrency exchange is in a solid position following Thursday’s earnings. The firm anticipates heightened market volatility and increased trading activity in blockchain assets like Ethereum, Solana, and various financial tokens. This momentum is supported by growing stablecoin adoption and advancements in asset tokenization.

‍

Morgan Stanley on Amazon (Overweight)
Amazon remained a top pick for Morgan Stanley, which reiterated its overweight rating and $300 price target. Analysts highlighted the company’s robust retail sales and profit improvements. Additionally, Amazon Web Services (AWS) reported better-than-expected growth in the second quarter, with projections for accelerated expansion going forward.

‍

Wells Fargo on Roku (Overweight)
Wells Fargo reaffirmed its overweight rating for Roku, suggesting more upside potential after a strong earnings report. The firm called it a pivotal quarter as the connected TV platform showed faster-than-expected growth, which is expected to continue into 2025.

‍

Bank of America on Boeing (Buy)
Bank of America expressed growing optimism about Boeing, keeping its buy rating and lifting the price objective from $260 to $270. The revised target reflects expectations for normalized free cash flow of $11 per share.

‍

JPMorgan on DoubleVerify Holdings (Upgrade: Overweight from Neutral)
After staying cautious since early 2022, JPMorgan upgraded DoubleVerify Holdings to overweight. The firm had previously seen limited upside despite positive assessments of the company’s technology and position in ad verification and performance optimization. The upgrade signals renewed confidence in its growth prospects.

‍

JPMorgan on Citizens Financial (Upgrade: Overweight from Neutral)
Citizens Financial received an upgrade as JPMorgan pointed to upcoming catalysts, including higher capital markets-related revenues that should offset slower share repurchases. Analysts also expect the bank to resume increasing its dividend this year after a three-year pause.

‍

Wells Fargo on Canada Goose (Upgrade: Overweight from Equal Weight)
Wells Fargo upgraded Canada Goose, viewing it as a turnaround story. Following a 24-month business reset, improvements in product offerings and marketing have driven strong direct-to-consumer growth, with potential upside in wholesale channels becoming more visible.

‍

Jefferies on Sprouts Farmers Market (Upgrade: Buy from Hold)
Sprouts Farmers Market shares were upgraded by Jefferies after reporting strong second-quarter results. The health-focused grocery chain delivered double-digit same-store sales growth, benefited from new store openings, and aligned well with rising consumer demand for nutritious products.

‍

Macquarie on Nio (Upgrade: Outperform from Neutral)
Macquarie turned bullish on Nio, citing the launch of the Onvo L90 vehicle as a solution to the company’s low sales volume challenges. The new model is expected to help boost production and market share.

‍

Jefferies on MP Materials (Upgrade: Buy from Hold)
MP Materials received an upgrade from Jefferies after its stock nearly doubled. The firm cited transformative partnerships with the U.S. Department of Defense, which supports scaling efforts, and Apple, which validates the company’s technological capabilities.

‍

Bank of America on Unilever (Upgrade: Buy from Neutral)
Unilever’s stock rating was upgraded as Bank of America argued that the company’s valuation decline has been overdone. Analysts believe risks related to weaker consumer spending and foreign exchange pressures are already priced in, making expectations more balanced heading into 2025.

‍

Goldman Sachs on Avis Budget (Downgrade: Sell from Neutral)
Goldman Sachs downgraded Avis Budget despite raising its price target from $87 to $105. The downgrade reflects a projected 39% downside risk relative to the new target, even as growth opportunities from new initiatives improve slightly.

‍

JPMorgan on Itron (Upgrade: Overweight from Neutral)
Itron’s shares were upgraded by JPMorgan following strong earnings results, signaling increased confidence in the company’s water and energy solutions business.

‍

Piper Sandler on Appfolio (Upgrade: Overweight from Neutral)
Piper Sandler upgraded Appfolio after an impressive second-quarter performance. The property management software company benefited from strong execution, innovation, premium-tier product adoption, and steady new business wins.

‍

Bernstein on Nvidia (Outperform)
Bernstein reaffirmed its outperform rating on Nvidia, emphasizing the massive and still early-stage data center market opportunity, with substantial room for growth ahead.

‍

Citi on XPO (Upgrade: Buy from Neutral)
XPO Logistics was upgraded by Citi as the trucking firm shows operational momentum under CEO Mario Harik. Service improvements have been driving margin expansion, supporting a more optimistic outlook.

‍

Morgan Stanley on Reddit (Overweight)
Morgan Stanley reiterated its overweight rating on Reddit and raised its price target significantly from $170 to $230. The firm cited improved ad onboarding, new ad formats, and a growing salesforce as drivers for revenue growth. Additionally, initiatives in user onboarding, search capabilities, international expansion, and marketing are expected to stabilize user growth and enhance valuation multiples.