Wednesday’s Biggest Analyst Calls: Nvidia, Apple, Tesla, Snowflake, Netflix, Crowdstrike, Spotify & More

Here are the biggest calls on Wall Street on Wednesday:

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Goldman Sachs Upgrades XP
Goldman Sachs upgraded Brazilian investment platform XP from neutral to buy, setting a new price target of $23. The firm sees strong potential for XP to capitalize on operating leverage, especially if its revenue growth continues to accelerate.

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UBS Stays Bullish on Netflix
UBS maintained its buy rating on Netflix and raised its price target from $1,150 to $1,450. The analysts cited favorable long-term industry trends and a competitive environment that supports Netflix’s ability to boost monetization and operating efficiency.

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Needham Downgrades Apple
Apple was downgraded from buy to hold by Needham, which flagged increasing competitive threats and valuation concerns. The firm noted that major tech companies are challenging Apple’s platform fees and that advancements in generative AI could lead to alternative hardware that weakens iOS device dominance.

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Goldman Sachs Upgrades Yum! Brands
Goldman Sachs also upgraded Yum! Brands—parent company of KFC, Taco Bell, and Pizza Hut—from neutral to buy. The firm pointed to Yum!’s strong growth in new units, high franchise ownership, and improved digital strategies as reasons to expect increased operational resilience and revenue acceleration.

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Citi Downgrades Constellation Energy
Citi downgraded Constellation Energy from buy to neutral after the company revealed a deal with Meta. The firm expressed skepticism about the future of new energy projects, noting that large tech companies may prefer extending the life of existing plants rather than backing new construction. This dynamic may benefit gas prices but could be a setback for new generation builds.

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Bank of America Downgrades CrowdStrike
Cybersecurity firm CrowdStrike was downgraded to neutral by Bank of America due to limited upside in valuation following its earnings report. However, the firm raised its price objective from $420 to $470, reflecting a broader increase in sector multiples.

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UBS Upgrades Snowflake
UBS took a more optimistic view of Snowflake, upgrading the stock from neutral to buy. Despite a 35% year-to-date rally, UBS believes the data cloud company still has room for further gains based on increasing investor confidence.

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UBS Starts Coverage on International Paper
UBS initiated coverage on International Paper with a buy rating and set a $60 price target, implying a 27% upside. Among four major paper packaging firms, UBS sees International Paper as the top pick due to its positioning in the sector.

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Citi Eyes Upside for Western Digital
Citi placed Western Digital on a short-term positive catalyst watch and raised its price target from $56 to $62. The firm noted strong demand in the data center storage space, steady pricing, and limited supply—all factors that should support prices and margins in the hard disk drive industry.

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Bank of America Starts Centrus Energy at Buy
Bank of America began coverage of nuclear fuel provider Centrus Energy with a buy rating and a price target of $160, reflecting about 22% potential upside. The bank emphasized Centrus’ solid balance sheet and promising growth prospects in the nuclear sector.

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Bernstein Initiates Coverage on Spotify, Live Nation, and DraftKings
Bernstein gave outperform ratings to Spotify, Live Nation, and DraftKings, highlighting their strong positions in the entertainment sector. Live Nation was named the top pick for its potential in ticketing, sponsorships, and concert profits. Bernstein also expects Spotify to exceed expectations with pricing changes and a “superfan” product. DraftKings is seen benefiting from its lead in live sports betting.

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BMO Remains Positive on Alphabet
BMO reaffirmed its outperform rating on Alphabet, pointing to the company’s “Made by Google” event scheduled for August 13 as a likely catalyst. The firm expects significant announcements related to AI features such as Gemini Live and Circle to Search, which could reinforce Google’s leadership in AI tools.

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Oppenheimer Upgrades Dollar General
Oppenheimer moved Dollar General to outperform from perform following strong earnings. It also established a $130 price target, expressing confidence in management’s ability to achieve consistent same-store sales growth and improve operating margins over the next few years.

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Wedbush Maintains Outperform Rating on Nvidia
Wedbush reiterated its outperform rating on Nvidia, citing the company’s alignment with long-term tech investment trends. The firm believes Nvidia will benefit from surging AI and industrial applications, especially as new Blackwell chips are rolled out and both private and government funding for AI expands.

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Seaport Reaffirms Buy Rating on Broadcom
Seaport stuck with a buy rating on Broadcom after the launch of its Tomahawk 6 networking chip. The analysts believe Broadcom's latest product strengthens its position against Nvidia in the competitive AI hardware space, especially in networking solutions.

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Barclays Starts Primo Brands at Overweight
Barclays initiated coverage on Primo Brands, a water bottle company, with an overweight rating. The firm sees the company as offering rare value and earnings predictability within the consumer staples sector.

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Morgan Stanley Reaffirms Tesla as Overweight
Morgan Stanley reiterated its overweight stance on Tesla, saying the company has the right mix of skills—including battery tech, robotics, and navigation systems—to become a key player in the emerging drone and low-altitude economy space.

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JPMorgan Reiterates Amazon and Meta as Overweight
JPMorgan raised its Amazon price target to $240 from $225, citing its diversification and significant growth potential. The firm also increased its Meta target to $735 from $675, highlighting innovations in AI advertising and product development that support ongoing investment in the sector.

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