Wednesday's Biggest Analyst Calls: Nvidia, Tesla, Dell, Broadcom, Unitedhealth & More

Here are Wednesday’s biggest calls on Wall Street:

‍

Morgan Stanley Reaffirms Overweight Rating on Dell, Raises Price Target
Morgan Stanley remains bullish on Dell Technologies, reiterating its overweight rating and boosting the price target from $89 to $126 per share ahead of the company’s upcoming earnings report. The firm continues to view Dell's positioning in the AI server market as strong. It also noted that demand for storage and general servers remains steady, with Dell gaining market share in these areas. Additionally, Morgan Stanley expects short-term strength in Dell’s PC segment due to a recent uptick in demand.

‍

Jefferies Begins Coverage on Western Alliance with a Buy Rating
Jefferies initiated coverage on regional lender Western Alliance, giving it a buy rating and setting a price target of $95. The analysts described the bank as showing "robust growth," suggesting confidence in its expansion potential and fundamentals.

‍

Stifel Upgrades Home Depot to Buy Following Earnings Report
Stifel shifted its stance on Home Depot from hold to buy after reviewing the company’s earnings. The analysts expressed optimism about fiscal year 2025, saying that Home Depot is well-positioned to benefit from a rebound in the home improvement sector. The firm believes this recovery will likely exceed trend-line growth, helping drive outperformance for the stock.

‍

HSBC Downgrades UnitedHealth to Reduce from Hold
HSBC lowered its rating on UnitedHealth, moving it to reduce from hold, citing multiple headwinds. The firm pointed to uncertainty stemming from leadership changes, the withdrawal of 2025 guidance, and allegations of Medicare fraud. Since the first-quarter results, UnitedHealth’s market capitalization has dropped significantly. HSBC noted that although the new CEO has the chance to reset expectations, they see potential risks to future earnings growth and continued regulatory concerns.

‍

HSBC Upgrades Bilibili to Buy, Citing Improved Outlook
HSBC took a more positive stance on Chinese gaming platform Bilibili, upgrading it from hold to buy. The firm highlighted a more favorable outlook in several areas including gaming performance, user engagement, and profitability. Advertising growth also remains stable, and Bilibili's strategy to incorporate open-source models in its AI development is seen as a smart move.

‍

Loop Capital Reaffirms Buy Rating on Nvidia Ahead of Earnings
Loop Capital maintained its buy rating on Nvidia and reiterated its $175 price target in anticipation of the company’s upcoming quarterly results on May 28. Despite several variables at play, Loop believes Nvidia's April quarter report and guidance for July could meet or exceed expectations. The firm expects the second half of 2025 to be significantly stronger than consensus estimates.

‍

Citi Reiterates Buy Rating on Microsoft
Citi continues to recommend Microsoft as a buy, citing the company’s dominant position in enterprise generative AI. Analysts believe the momentum seen in the March quarter should carry into the upcoming quarters, potentially leading to earnings that exceed Wall Street forecasts.

‍

Deutsche Bank Resumes Intel Coverage With Hold Rating
Deutsche Bank resumed coverage on Intel with a hold rating. The firm acknowledged the potential for new CEO Lip-Bu Tan to implement a transformative strategy aimed at driving sustainable, profitable growth. However, analysts cautioned that executing this vision will likely be complex and require significant time and effort.

‍

TD Cowen Reaffirms Buy Ratings on Broadcom and AMD
TD Cowen remains positive on both Broadcom and Advanced Micro Devices (AMD), maintaining buy ratings on both stocks. According to the firm, these companies, along with others like Credo, have technology offerings that stand out in the market. Their products are aligned with long-term structural trends that are expected to support consistent growth for years to come.

‍

Morgan Stanley Reiterates Overweight Rating on Tesla
Tesla remains one of Morgan Stanley’s top picks, with the firm reaffirming its overweight rating. Analysts believe that developments between now and the end of the year will help solidify Tesla’s reputation as more than just a car manufacturer. Morgan Stanley emphasized that Tesla’s influence within the broader ecosystem surrounding Elon Musk—referred to as the "Muskonomy"—is becoming increasingly vital.

‍

Bank of America Upgrades AutoZone to Buy, Citing Resilience
Bank of America upgraded AutoZone from neutral to buy, pointing to the company’s ability to weather economic downturns better than its peers. The firm noted that AutoZone has been outperforming competitors in both its retail and professional customer segments. It expects continued market share gains, possible pricing-related inflation benefits, and favorable dynamics in the used versus new car market to drive further growth.

‍