Wednesday’s Biggest Analyst Calls: Nvidia, Apple, Broadcom, Microsoft, Teva, Autozone, Vail & More

Here are Wednesday’s biggest calls on Wall Street:

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Truist Begins Coverage on Teva with a Buy Rating
Truist Securities initiated coverage on Teva Pharmaceutical Industries with a Buy rating and a $25 price target. The firm expressed confidence in Teva’s potential to challenge major pharmaceutical players, especially ahead of its upcoming investor day. Truist views the company as well-positioned to compete with industry giants.

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UBS Maintains Neutral Stance on Apple
UBS reiterated its Neutral rating on Apple after observing a noticeable rise in in-store traffic since the U.S. announced tariffs on products from China and Southeast Asia in April. The firm noted that anecdotal data from Apple Stores, as well as other smartphone retailers like Best Buy and telecom carriers, pointed to increased consumer visits, likely influenced by the tariff developments.

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Mizuho Reaffirms Broadcom as Top Pick
Ahead of next week's earnings, Mizuho reaffirmed its Outperform rating on Broadcom and raised its fiscal 2027 estimates by 5% to 10%, moving the price target from $250 to $300. The firm considers Broadcom a key player worth watching in the coming days.

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Goldman Sachs Lowers Booz Allen Hamilton to Sell
Goldman Sachs downgraded Booz Allen Hamilton from Neutral to Sell, citing minimal expectations for revenue and earnings growth in the medium term. The firm added that the current valuation leaves room for downside risk.

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Baird Upgrades Fair Isaac to Outperform
Fair Isaac Corporation (FICO), known for its credit scoring models, was upgraded by Baird from Neutral to Outperform. The firm encouraged investors to take advantage of the recent dip in the stock, citing the company's strong market position, valuable pricing power, and future potential in mortgage volume recovery.

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William Blair Initiates Centrus Energy as Outperform
William Blair initiated coverage of Centrus Energy with an Outperform rating, highlighting the company as the only U.S.-based uranium enrichment provider. This unique position benefits both national security and technological leadership, making Centrus a standout in the nuclear energy space.

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TD Cowen Downgrades Freshpet to Hold
TD Cowen lowered its rating on Freshpet from Buy to Hold, pointing to concerns over slowing retail sales growth. The firm believes the company is entering a period of deceleration that warrants a more cautious outlook.

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Redburn Atlantic Begins Coverage on Arista and Broadcom with Buy Ratings
Redburn Atlantic Equities initiated coverage of both Arista Networks and Broadcom with Buy ratings. They identified these companies as top choices among AI data center investments, reflecting optimism about their growth in the tech infrastructure space.

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Bank of America Reiterates Buy on Microsoft
Bank of America maintained its Buy rating on Microsoft, citing its strength in the small and mid-size business software market. The firm also mentioned Intuit and HubSpot as leaders in this segment due to their broad product offerings and well-established customer bases.

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Bank of America Stands by AutoZone
Following its earnings release, AutoZone retained its Buy rating from Bank of America. Analysts emphasized the company’s ability to withstand economic downturns, strong performance in both DIY and professional segments, pricing power, and the positive impact of its commercial programs.

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JPMorgan Upgrades Vail Resorts to Neutral
Vail Resorts was upgraded from Underweight to Neutral by JPMorgan. Analysts cited the return of former CEO Rob Katz and the easing of industry headwinds by fiscal year 2025 as reasons for optimism, suggesting the company is at a potential turning point.

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Bank of America Initiates Primo Brands with Buy
Bank of America initiated coverage on Primo Brands, a bottled water company, with a Buy rating and a $42 price objective. They expect the company to gain market share, despite applying a lower valuation compared to industry peers due to relatively weaker free cash flow conversion.

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Truist Upgrades State Street, Downgrades Bank of New York Mellon
Truist upgraded State Street to Buy from Hold, anticipating it could benefit from a recovering equity market. The recent appointment of a permanent CFO also helped lift sentiment. On the other hand, Bank of New York Mellon was downgraded to Hold on valuation concerns, despite long-term optimism.

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Evercore ISI Remains Bullish on Arista, Cisco, Nvidia
Evercore ISI reiterated its Outperform ratings on Arista Networks, Cisco, and Nvidia, identifying them as leaders in AI switching technologies. According to their research, Arista and Nvidia dominate the non-China cloud market, while Cisco, in partnership with Nvidia, holds a strong position in the enterprise sector.

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JPMorgan Upgrades Noble to Overweight
Offshore drilling firm Noble was upgraded by JPMorgan to Overweight from Neutral. After recent meetings with company executives, the firm was encouraged by Noble’s confidence in securing future contracts, especially in its deepwater operations.

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Benchmark Starts Sonic Automotive with Buy
Benchmark initiated coverage on Sonic Automotive with a Buy rating and a $76 target price. Analysts believe the company is well-positioned in the current automotive retail environment.

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Bank of America Lifts Seagate Price Target
Bank of America raised its price target for Seagate Technology to $135 from $125 after meeting with the company’s CFO. The firm expressed increased confidence in Seagate’s long-term growth outlook following its recent investor day.

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UBS Maintains Buy on FedEx, Lowers Price Target
Lastly, UBS reaffirmed its Buy rating on FedEx but reduced the price target from $331 to $311. The firm noted that conditions in FedEx’s international segment were likely more turbulent than previously expected during the fourth fiscal quarter.

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