Thursday’s Biggest Analyst Calls: Nvidia, Netflix, Apple, Microsoft, Qualcomm, Meta, Warby Parker and More

Here are Thursday’s biggest calls on Wall Street:

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Wall Street’s Top Analyst Calls on Thursday

Several major Wall Street firms issued noteworthy stock calls on Thursday, including upgrades, downgrades, and reaffirmed ratings. These analyst actions offer insight into the current market outlook and investor sentiment across a variety of sectors.

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Citi Upgrades Generac

Citigroup upgraded Generac from a neutral rating to a buy and designated it a “high risk” pick, with a price target of $138 per share. The firm highlighted the company’s strong domestic presence and ability to manage trade-related challenges like tariffs. Citi emphasized Generac’s pricing advantage, stating that its higher exposure to the U.S. market compared to rivals gives it more flexibility in adjusting prices effectively.

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Loop Capital Upgrades Warby Parker

Warby Parker received an upgrade from Loop Capital, moving from hold to buy. Analysts believe the eyewear retailer’s recent share price decline is overblown, making now a good time to invest. Loop pointed to healthy demand trends based on first-quarter checks, suggesting the company remains in good shape despite earlier weakness in the stock.

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BMO Capital Markets Upgrades Trex

BMO raised its rating on Trex, a leading player in composite decking materials, from market perform to outperform. According to the firm, the recent dip in the stock price offers an excellent opportunity for investors. BMO highlighted Trex’s leadership in a market that is steadily moving away from wood products and toward composite alternatives.

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UBS Reiterates Buy on Nvidia

UBS maintained a buy rating on Nvidia but slightly reduced its price target from $185 to $180. This adjustment came after Nvidia warned of restrictions on exporting its GPU chips to China. The firm revised its revenue and earnings projections downward for fiscal 2026 and 2027, reflecting this concern. However, UBS still sees long-term value in the stock.

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Citi Eyes Qualcomm with Optimism

Citi placed a positive catalyst watch on Qualcomm, citing stronger-than-expected handset demand, particularly from China. The firm raised its earnings estimates based on improving sales momentum in the smartphone segment.

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Citi Reaffirms Buy on Alphabet

Ahead of Alphabet’s earnings release next week, Citi reiterated its buy rating. The firm anticipates results to be in line with or slightly better than consensus expectations. However, it also flagged concerns about a weakening advertising environment that may have started in March, possibly linked to reciprocal tariffs.

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BMO Downgrades Novo Nordisk

Novo Nordisk was downgraded by BMO from outperform to market perform. The firm said competitor Eli Lilly has made significant progress in both commercial and clinical aspects of its obesity treatment offerings, overtaking Novo’s early advantage. The price target was lowered to $64 per share.

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KeyBanc Lowers Microsoft

Microsoft was downgraded by KeyBanc from overweight to sector weight. The firm noted growing negative catalysts and said its decision wasn’t tied to any specific upcoming quarterly report but rather a buildup of data that supports longer-term concerns.

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Redburn Atlantic Adjusts View on Nasdaq

Nasdaq Inc. was downgraded from buy to neutral by Redburn Atlantic Equities. However, the firm still sees the risk-reward balance skewed positively and believes the company has potential upside if it can strengthen its financial technology segment through proprietary data and analytics.

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Rosenblatt Starts Coverage on RedCloud

Rosenblatt Securities initiated coverage on RedCloud Technology with a buy rating and a 12-month price target of $5. The firm sees strong potential for the digital retail enabler.

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KeyBanc Upgrades Yeti

Yeti Holdings was upgraded by KeyBanc from underweight to sector weight. The decision was based largely on valuation, even though the firm lowered its FY26 earnings per share forecast to $2.50 from $2.98.

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Baird Boosts H.B. Fuller

H.B. Fuller received an upgrade from Baird, moving from neutral to outperform. The adhesives company is viewed as a long-term attractive investment despite short-term uncertainties. Baird believes recent multiple compression has already priced in these risks.

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KBW Cuts Rating on Progressive

Progressive Corp. was downgraded to market perform by KBW. The firm expects the insurer’s strong policy growth to slow as rivals adjust their rates. They also foresee near-term pressure on profit margins as claim trends normalize.

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Morgan Stanley Sticks with Meta

Morgan Stanley maintained its overweight rating on Meta Platforms, saying it’s well-positioned amid tariff uncertainties. The firm emphasized Meta’s advantage in scale and performance-based advertising over keyword models.

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Piper Sandler Reaffirms Netflix

Netflix earned an overweight rating reaffirmation from Piper Sandler ahead of its Thursday earnings. The firm praised the streaming giant’s strong value proposition and stable subscription model, which they believe offers resilience during economic downturns.

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Evercore ISI Backs Apple

Evercore ISI reiterated its outperform rating on Apple, citing the tech giant’s supply chain diversification efforts as a buffer against China-specific tariffs. The firm noted Apple could offset potential cost increases with pricing adjustments and supplier contributions.

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Citi Downgrades Sunrun

Sunrun was downgraded from buy to neutral by Citi, which flagged a potential threat from the removal of investment tax credit adders. Such a change could hurt the residential solar sector, which heavily relies on third-party ownership financing.

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Raymond James Downgrades Coty

Beauty brand Coty was downgraded from outperform to market perform by Raymond James due to difficult year-over-year comparisons, category pressures, and margins reaching peak levels.

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Seaport Cuts PayPal to Neutral

PayPal was downgraded from buy to neutral by Seaport. The firm expressed concern about the company’s ability to meet its growth targets, especially in checkout transaction volume, given possible declines in discretionary consumer spending.

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