Tuesday's Biggest Analyst Calls: NVIDIA, Apple, Tesla, Dell, Coreweave, Royal Caribbean, Microsoft & More

Here are Tuesday’s biggest calls on Wall Street:

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Nvidia (NVDA) – Piper Sandler Reiterates Overweight
Piper Sandler is maintaining its bullish stance on Nvidia ahead of the company's earnings release on Wednesday. The firm encourages investors to ride out any remaining uncertainty, expressing confidence that most of the bad news surrounding the stock is already priced in. They continue to recommend an "Overweight" rating, suggesting long-term upside remains intact.

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LifeStance Health (LFST) – UBS Upgrades to Buy from Neutral
UBS upgraded LifeStance Health, believing the company’s long-term growth story is still strong. They noted that there's a significant disparity between the firm’s underlying business performance and its current market valuation. With over 50% potential upside to their $8.50 price target, UBS now rates the stock a "Buy."

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SoundHound AI (SOUN) – Piper Sandler Initiates at Overweight
Piper Sandler began coverage of AI voice technology company SoundHound with an "Overweight" rating. The firm assigned a $12 price target, citing a valuation based on 22 times estimated 2026 enterprise value to sales. The analysts are optimistic about the company's growth prospects in the AI-driven voice tech space.

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CoreWeave – Barclays Downgrades to Equal Weight from Overweight
Barclays lowered its rating on CoreWeave, even though it remains positive about the company’s role in the generative AI ecosystem. The downgrade comes after a 157% surge in the stock since its IPO, which Barclays believes has pushed valuation to levels where further gains based on fundamentals may be difficult in the near term.

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Cummins (CMI) – Goldman Sachs Upgrades to Buy from Neutral
Goldman Sachs turned positive on Cummins, citing improved supply conditions and stronger profit margins for its Power Systems segment. The firm also noted reduced regulatory risks tied to the EPA's 2027 standards and declining inventories of used trucks, which supports a more favorable demand outlook. These factors contributed to the upgrade.

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Envista (NVST) – Baird Upgrades to Outperform from Neutral
Baird boosted its rating on dental equipment provider Envista, driven more by stock-related factors than broader industry trends. The analysts highlighted stability in the end markets and recent relief from China tariffs as key elements that could benefit the stock over the coming quarters.

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Apple (AAPL) – Morgan Stanley Reaffirms Overweight
Despite concerns over a proposed 25% import tariff on iPhones, Morgan Stanley is standing by Apple. The firm noted that such a tariff isn't a strong enough incentive for Apple to shift production back to the U.S. and believes the financial impact is already baked into forecasts. The “Overweight” rating remains in place.

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Wingstop (WING) – Truist Upgrades to Buy from Hold
Truist lifted its rating on Wingstop, citing confidence in the restaurant chain’s prospects. The firm raised its price target to $400 from $274 and expressed optimism based on earnings projections and growth strategies.

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Royal Caribbean (RCL) – Bernstein Names It a Top Pick
Bernstein highlighted Royal Caribbean as a leading investment in the cruise industry, referring to the company as the "vanguard" of the sector’s resurgence. With supply growth trailing demand, Bernstein sees strong investment potential, particularly as Royal Caribbean leads in private destination offerings and ship size.

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DLocal (DLO) – Citi Initiates with a Buy Rating
Citi began coverage of DLocal with a "Buy" rating, pointing to the company’s niche as a cross-border payment processor connecting global merchants with consumers in emerging markets through a single API platform. The firm believes this unique positioning supports robust growth.

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Tesla (TSLA) – UBS Reiterates Sell
UBS remains bearish on Tesla, maintaining a "Sell" rating. The firm’s recent surveys revealed a decline in consumer interest for both Tesla and electric vehicles more broadly, which could pose headwinds for future growth.

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Expro Group Holdings (XPRO) – Wells Fargo Initiates Overweight
Wells Fargo initiated coverage of energy services provider Expro Group with an “Overweight” rating and a $12 price target. The firm sees a number of catalysts ahead that could drive performance and stock gains.

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Southwest Airlines (LUV) – Jefferies Upgrades to Hold from Underperform
Jefferies raised its rating on Southwest Airlines, recognizing management's new $1.8 billion initiative aimed at improving earnings. Changes include adjustments in inventory management, new sales channels, and reductions in underperforming routes.

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U.S. Steel (X) – Wolfe Downgrades to Peer Perform from Outperform
Wolfe downgraded U.S. Steel on the assumption that the acquisition by Japan’s Nippon Steel will go through. With shares trading near the proposed takeover price, the firm sees limited upside and shifted its rating to "Peer Perform."

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Dell Technologies (DELL) – Citi Issues Upside Watch
Citi opened a short-term “upside catalyst watch” on Dell, expecting improved demand for Nvidia’s GB200 AI chips—which Dell incorporates into its products—to boost shares. They see meaningful momentum building ahead of the company's earnings.

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Microsoft (MSFT) – TD Cowen Reiterates Buy, Raises Price Target
TD Cowen maintained its “Buy” rating on Microsoft while increasing the price target from $490 to $540. The firm sees growing AI-related revenue in Azure, especially from OpenAI, as a key driver of stronger growth and increased investor interest in the stock.

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MSC Industrial (MSM) – JPMorgan Upgrades to Overweight from Neutral
JPMorgan sees MSC Industrial as a turnaround opportunity. The company, known for its leadership in metalworking distribution, has high sensitivity to domestic industrial production trends. The firm upgraded the stock to “Overweight,” citing improved business fundamentals.