Tuesday's Biggest Analyst Calls: NVIDIA, Apple, Palantir, Shopify, Tesla, AT&T, ServiceNow, McDonald's & More

Here are Tuesday’s biggest calls on Wall Street:

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Tesla | Goldman Sachs Reiterates Neutral

Goldman Sachs maintained its neutral stance on Tesla, stating that China remains a key market for the electric vehicle manufacturer. The firm is optimistic about Tesla’s advancements in Full Self Driving (FSD) technology, particularly its potential in China, but doesn’t see enough momentum to upgrade its rating.

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According to Goldman, Tesla’s success in deploying its autonomous driving software in the Chinese market will play a pivotal role in its future stock performance. This is due to the country’s massive vehicle market, the growing competition in advanced driver assistance systems (ADAS), and the increasing importance of AI-driven offerings like robotaxis for Tesla’s valuation.

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‍Shopify | BMO Capital Begins Coverage at Outperform

BMO initiated coverage of e-commerce platform Shopify with an Outperform rating and set a price target of $120. The firm noted Shopify's considerable opportunities for expansion across various segments and sees solid potential for sustained growth.

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Sweetgreen | JPMorgan Downgrades to Neutral

JPMorgan lowered its rating on fast-casual restaurant chain Sweetgreen from Overweight to Neutral. The downgrade comes amid weakening demand trends and concerns that the brand’s value proposition needs enhancement. Analysts noted that the slowdown is not only ongoing but is now affecting higher-income customer segments as well. JPMorgan set a December 2026 price target of $25.

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ServiceNow | Goldman Sachs Reaffirms Buy Rating

Goldman Sachs reiterated its Buy rating on ServiceNow and kept its $1,150 price target following the company’s Analyst Day. The investment firm emphasized the long-term durability of ServiceNow’s growth as it expands beyond IT workflows into broader enterprise applications.

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Canadian National Railway | Susquehanna Upgrades to Positive

Susquehanna upgraded its view on Canadian National Railway from Neutral to Positive. The analysts believe that shares offer solid value at current levels, particularly as the company faces only moderate cyclical risks. The stock is trading near the lower end of its historical valuation, both on an absolute basis and relative to the rail sector.

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Walmart | Wells Fargo Reaffirms Overweight

Walmart remains a favorite at Wells Fargo, which reiterated its Overweight rating ahead of the company’s upcoming earnings report. Despite macroeconomic uncertainty and potential tariff headwinds, Wells Fargo expects a steady first-quarter performance. Analysts view Walmart as a consistent performer with strong market share opportunities, even in challenging environments.

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Church & Dwight | TD Cowen Downgrades to Hold

TD Cowen moved its rating on Church & Dwight from Buy to Hold. The firm cited a lack of near-term positive catalysts in the U.S. market and noted the company’s limited exposure to faster-growing international regions. Additionally, TD Cowen pointed out that Church & Dwight trades at a premium relative to its peers, which they view as unjustified in the current environment.

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Coinbase | Monness, Crespi, Hardt Downgrades to Neutral

Monness, Crespi, Hardt downgraded Coinbase from Buy to Neutral ahead of the company’s earnings release later in the week. The firm expressed concern about potentially underwhelming first-quarter results and lowered transaction revenue guidance for the current quarter. It also withdrew its price target due to uncertainty surrounding near-term financials.

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McDonald’s | Northcoast Cuts to Neutral

McDonald’s received a downgrade from Northcoast Research, which moved its rating to Neutral. The firm expressed worries over margin compression, suggesting that translating top-line sales growth into profits could become increasingly difficult as consumers continue to seek better value while input costs remain elevated.

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Palantir | Loop Capital Reiterates Buy

Loop Capital maintained its Buy rating on Palantir following the company’s latest earnings report. Loop urged investors to take advantage of the recent dip in the stock, emphasizing Palantir’s leadership position in the rapidly expanding enterprise AI market. The firm noted that adoption of AI solutions is accelerating as pilot programs transition into large-scale deployments across industries.

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AT&T | Morgan Stanley Maintains as Top Pick

Morgan Stanley continues to view AT&T as one of its top stock ideas. The firm said both AT&T and Verizon are poised to benefit from favorable domestic tax policy, which could improve free cash flow and support capital returns to shareholders.

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Nvidia | Bank of America Reaffirms Buy

Bank of America maintained its Buy rating on Nvidia. Despite being one of the most widely held semiconductor stocks, the firm believes Nvidia remains under-owned relative to its long-term growth potential. They highlighted that the stock’s allocation in portfolios has only marginally increased, suggesting further room for investment.

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Apple | Morgan Stanley Reaffirms Overweight

Morgan Stanley reiterated its Overweight rating on Apple, downplaying investor concerns related to its ongoing legal dispute with Epic Games. The firm sees limited impact on earnings per share and valuation multiple, suggesting the lawsuit is more of a headline risk than a financial one.

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Broadridge Financial | Needham Initiates at Buy

Finally, Needham initiated coverage of Broadridge Financial Solutions with a Buy rating and a $300 price target. The firm highlighted Broadridge as a vital provider of technology and communication infrastructure for financial institutions and considers the company a core holding for long-term investors.

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