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Here are Friday’s biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight The firm raised its price target on the stock to $240 per share from $235 following earnings. “This was Apple’s strongest quarterly report/guide in 2+ years, with outperformance broad-based across Product/Services and regions.” Read more. Bernstein reiterates Coinbase as outperform Bernstein said Coinbase remains extremely well positioned following Thursday’s earnings report. “We expect increased upward market volatility and broadening of trading interest in blockchain assets such as ETH [Ethereum], SOL [Solana] and long tail of financial tokens, driven by strong market structural shift around stablecoins and asset tokenisation.” Morgan Stanley reiterates Amazon as overweight Morgan Stanley said Amazon remains a top idea following earnings. “Retail growth and profit improvements are shining and driving earnings. 2Q AWS growth was better and we detail why we see faster growth ahead. Remain OW, $300 PT.” Wells Fargo reiterates Roku as overweight Wells Fargo said shares of the connected TV company have more room to run following earnings. “We think this was a strong, and possibly pivotal, quarter fo r ROKU . Platform accel exceeded expectations and continues through ’25.” Bank of America reiterates Boeing as buy Bank of America said it is getting increasingly bullish in shares of Boeing. “We reiterate our Buy rating and increase our PO to $270 (from $260) which implies normalized FCF of $11/per share.” JPMorgan upgrades DoubleVerify Holdings to overweight from neutral JPMorgan upgraded the digital media company after many years on the sidelines. “Since early-2022, we have remained on the sidelines as DV shares have traded as high as the $40s and through the $30s, and $20s, throughout that period expressing a view that the risk-reward skewed inline to somewhat unfavorable even as we maintained our positive assessment of DoubleVerify’s technology and attractive positioning within the ad verification, safety, and performance optimization market.” JPMorgan upgrades Citizens Financial to overweight from neutral JPMorgan said it sees a slew of positive catalysts ahead for the banking company. “In addition, near term, it should benefit relatively more than peers from higher markets-related revenues, especially capital markets fees, offsetting slower share buybacks. Citizens should also be positioned to return to increasing its common dividend this year after a pause for three years, with its improving earnings.” Wells Fargo upgrades Canada Goose to overweight from equal weight Wells Fargo said the clothing company is a turnaround story. “GOOS has quietly begun to inflect their business post a ~24 month reset – with material improvements in product + marketing driving meaningful DTC growth, while wholesale upside now appears more visible.” Jefferies upgrades Sprouts Farmers Market to buy from hold Jefferies said shares of the health grocery market company are too attractive to ignore following earnings. “SFM delivered a strong Q2, driven by DD% [double digit] comp growth, new store strength, and alignment with consumer demand for quality, health-focused products.” Macquarie upgrades Nio to outperform from neutral Macquarie said it is bullish on the launch of the company’s Onvo L90 vehicle. “Onvo L90 is set to address NIO’s core problem: low volumes.” Jefferies upgrades MP Materials to buy from hold Jefferies said it see a slew of catalysts ahead for the rare earths company. “MP shares have roughly doubled following transformational deals with the DoD [Department of Defense] (supporting scale) and Apple (validating capabilities).” Bank of America upgrades Unilever to buy from neutral Bank of America said in its upgrade of the personal home-care products company that Unilever’s derating has “gone too far.” “We believe, key risks (weaker consumer and FX) are well flagged, hard currency EPS growth is less of a 2025 focus and the expectations look derisked to us from here.” Goldman Sachs downgrades Avis Budget to sell from neutral Goldman Sachs downgraded Avis Budget following earnings. “We raise our PT from $87 to $105 as we raise our multiple from 7X to 8X to reflect the potential growth opportunity from new initiatives. We see 39% downside to our revised price target vs. 1%downside for the rest of our coverage.” JPMorgan upgrades Itron to overweight from neutral JPMorgan upgraded the water energy solutions company following earnings. “We are upgrading ITRI to Overweight from Neutral.” Piper Sandler upgrades Appfolio to overweight from neutral Piper Sandler said it sees a growth rebound for the property management software company. “We are upgrading APPF to Overweight following impressive results in Q2 reflecting strong GTM [go-to market] execution and innovation helping drive success upmarket, premium tier mix shift, product adoption, and consistent new business wins.” Bernstein reiterates Nvidia as outperform Bernstein said it is sticking with shares of Nvidia. “The datacenter opportunity is enormous, and still early, with material upside still possible. Citi upgrades XPO to buy from neutral Citi upgraded the trucking company following earnings. “XPO is gaining momentum under CEO Mario Harik for service improvement that has been driving margin expansion.” Morgan Stanley reiterates Reddit as overweight The firm raised its price target o n Reddit to $230 per share from $170. “We raise our ’25/’26 rev by 12%/22% as improvements in ad onboarding, new ad formats and a scaling salesforce highlight still long runway for growth, meanwhile 4 key initiatives across user onboarding, search, international and marketing set to stabilize user growth and improve multiple. PT to $230.”
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