Thursday’s Biggest Analyst Calls: Nvidia, Tesla, Salesforce, Applovin, Broadcom, Netflix, Southwest & More

Here are Thursday’s biggest calls on Wall Street:

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Bank of America Maintains Buy Rating on Salesforce
Despite Salesforce’s latest earnings not delivering any major surprises, Bank of America is sticking with its bullish stance. The firm believes Salesforce is well positioned to benefit from the $200 billion market it operates in and continues to view the stock as a strong contender in the software space.

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JPMorgan Remains Positive on HP Inc.
Following HP’s earnings release, JPMorgan reiterated its overweight rating. The firm noted that HP is handling the effects of tariffs by adjusting pricing and optimizing its supply chain. While third-quarter results were still affected by trade barriers, JPMorgan expects these issues to diminish by the fourth quarter.

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Citi Names AppLovin a Top Pick
Citi elevated AppLovin to its top stock pick, citing three reasons. First, it anticipates AppLovin could be added to the S&P 500 during the upcoming June 2025 rebalancing. Second, the firm believes the rollout of self-serve tools will boost e-commerce revenue by late 2025 and into 2026. Third, AppLovin remains under-owned, with many investors still unsure about the company’s inner workings.

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Wedbush Reaffirms Outperform Rating on Tesla
Wedbush reiterated its positive view of Tesla, especially following Elon Musk’s public announcement distancing himself from Dogecoin and politics. The firm said this allows Musk to better concentrate on Tesla and its roadmap for autonomous driving.

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Barclays Downgrades Aspen Aerogels
Barclays downgraded Aspen Aerogels from overweight to equal weight. The firm cited concerns about declining electric vehicle tax credits and reduced EV production from GM, which led to a 20% cut in its 2026 EBITDA forecast for the company.

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TD Cowen Downgrades Starbucks to Hold
TD Cowen lowered its rating on Starbucks from buy to hold, pointing to waning consumer perceptions of value. The firm believes the consensus earnings estimates from 2026 to 2028 don't adequately reflect Starbucks’ labor investments, a key part of its turnaround plan. It also cited recession-related underperformance and increasing competition as risks.

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Bank of America Raises Price Target for Nvidia
Nvidia remains a top pick at Bank of America, which increased its price target from $160 to $180. The firm praised Nvidia’s shift from being a PC graphics chip provider to a broader presence in high-end gaming, cloud computing, enterprise applications, and automotive markets.

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Deutsche Bank Reiterates Buy on Broadcom
Ahead of its upcoming earnings, Deutsche Bank reiterated its bullish stance on Broadcom, calling it one of its top semiconductor picks. The firm sees upside from Broadcom’s AI-related initiatives, cyclical business recovery, and integration of VMware into its software segment.

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Deutsche Bank Boosts Price Target on GE Aerospace
GE Aerospace received a price target increase from Deutsche Bank, rising from $261 to $300. With GE scheduled to host an investor day during the Paris Air Show in June, the firm expects new guidance for 2025 and 2028 and clarity on long-term operational goals.

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Jefferies Downgrades GE Vernova
Jefferies moved GE Vernova from buy to hold due to valuation concerns. While the firm acknowledges strong demand for power infrastructure and improvements in offshore wind operations, it believes the stock’s current valuation already reflects much of the upside.

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Deutsche Bank Upgrades Southwest Airlines
Southwest Airlines was upgraded from hold to buy by Deutsche Bank. The firm cited a refreshed board of directors, new strategic initiatives aimed at boosting revenue and earnings, and improved return on invested capital as reasons for its optimism.

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Citi Reaffirms Procter & Gamble as a Top Pick
Citi continues to favor Procter & Gamble, calling it its preferred buy-rated stock in the consumer goods space. The firm expects a return to 3%+ organic sales growth, with improvements in both U.S. and Chinese markets.

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Piper Sandler Upgrades Claritev
Piper Sandler raised its rating on Claritev from neutral to overweight, although no further details were provided in the note.

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Jefferies Downgrades Cleveland-Cliffs
Following Nippon Steel’s deal to acquire U.S. Steel, Jefferies downgraded Cleveland-Cliffs from buy to hold. The firm said while protectionist measures may help, the overall outlook for the steel sector has slightly weakened, especially for a company heavily tied to steel prices.

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Roth MKM Initiates Buy Rating on USA Rare Earth
Roth MKM began coverage on USA Rare Earth with a buy rating and a $15 price target. The firm believes the company is in a strong position within the rare earth materials industry.

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RBC Downgrades Salesforce to Sector Perform
RBC lowered its rating on Salesforce from outperform to sector perform after a modest earnings report. A key factor in the downgrade was Salesforce’s $8 billion acquisition of Informatica, which RBC believes may weigh on future performance.

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Citi Maintains Neutral Stance on Netflix
Citi kept its neutral rating on Netflix but raised its price target from $1,020 to $1,250. Despite no changes in its estimates, the firm sees upward price momentum for the streaming giant.

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Wells Fargo Upgrades Tenet Healthcare
Wells Fargo raised Tenet Healthcare to overweight, citing success in reshaping its hospital portfolio and growing its United Surgical Partners International (USPI) segment as driving factors.

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