Here are Thursday's biggest analyst calls: Nvidia, Apple, Tesla, Carvana, Uber, Sunrun, Caterpillar, Duolingo & more

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6 days ago

Here are the biggest calls on Wall Street on Thursday: Morgan Stanley reiterates Apple as overweight The investment bank says the iPhone maker is well positioned after Wednesday's investment announcement. "Instead, Apple's commitment to investing an added $100B in the U.S. - mind you, with zero new major final assembly/production in the U.S. - means Apple is entirely exempt from Section 232 tariffs. Therefore, for Apple, tariff rates should get no worse, which is a much better-than feared outcome." Goldman Sachs reiterates Nvidia as buy Goldman raised its price target on Nvidia ahead of earnings later this month, to $200 per share from $185, "We expect investors to focus on the underlying Blackwell ramp and gross margin implications in 2H, plus the pending China ramp." Morgan Stanley cuts Caterpillar to underweight from equal weight Morgan Stanley says shares of Caterpillar are "priced to perfection." "Shares have rallied +50% from April lows. All the while, profitability and fundamentals (i.e. price/margins) have deteriorated further, pointing to negative earnings revision risk. With shares priced for perfection, we now see a 2-to-1 negative risk/reward skew. Downgrading to UW." Read more. Piper Sandler upgrades HubSpot to overweight from neutral Piper upgraded the software company following earnings and says it see an attractive risk/reward for HubSpot. "We upgrade to Overweight on a potential 2026 growth + margin recovery and favorable risk-reward after the sell-off. Next catalyst: 9/3 analyst day." Berenberg upgrades BP to buy from hold Berenberg said in its upgrade of BP that the oil and gas giant has more room to run. "The key driver of the improved outlook is a stronger [free cash flow] outlook, helped by lower capex, progress on the cost-cutting program and recovery in the downstream business." Baird upgrades Parsons to outperform from neutral Baird said in its upgrade of Parsons that the infrastructure security and missile defense company is well positioned. "We see double-digit underlying organic growth across both segments and near-term catalysts/optionality on FAA and Golden Dome, neither of which appear reflected in the stock." Jefferies downgrades Six Flags to hold from buy Jefferies sees too many negative catalysts for the theme park operator. "The uncertainty presented by the magnitude of the 2Q25 miss and the prospects for a protracted leadership and strategy change drive change in our stance. Moreover, the suspension o f FUN's three-year outlook and CEO transition call into question the earnings power we are able to underwrite." Citi upgrades Klaviyo to buy from neutral Citi said in its upgrade of Klaviyo that it sees more upside ahead for the marketing automation company. "We upgrade our rating to Buy/[high risk], and lift our [target price] to $50 on higher estimates." Baird upgrades Fastenal to outperform from neutral Baird says the industrial supply company has pricing power. "Based on growing confidence in recent strategic changes, a favorable cyclical setup and expectation of an accelerating outgrowth cycle, we believe the Street underestimates Fastenal's earnings power." Morgan Stanley reiterates Carvana as overweight Morgan Stanley raised its price target on the stock to $450 per share from $290. "CEO Ernie Garcia and the team in Tempe have achieved escape velocity in digital auto fulfillment. The last time CVNA was at $350/share (Aug 2021), the company lost $300mm. Today, CVNA is 40% larger by revenue and on track to earn $1.2bn." Morgan Stanley names Cummins a top pick Morgan Stanley named Cummins a top pick and says it sees robust execution for the diesel engine maker company. "Reiterate OW, moving to Top Pick and Raising price target to $450 from $350." Bank of America reiterates DraftKings as buy Bank of America says it's bullish on the betting stock following earnings and heading into football season. "There seems to be renewed excitement around DKNG , especially heading into football season. Our 2025 EBITDA estimate goes up +6% as we move to the midpoint. Reiterate Buy." Roth upgrades Shoals to buy from neutral Roth upgraded the solar stock following earnings. "We upgrade SHLS to Buy ($10PT from $5) as SHLS delivered a Q2 beat/raised 2025 revenue guide/showed strong bookings/backlog." JPMorgan reiterates Duolingo as overweight JPMorgan raised its price target on the language learning stock to $515 per share from $500 and says it's sticking with the company following earnings. "In one of the most controversia l Duolingo earnings cycles in recent memory, shares traded up +19% post-close as the company delivered stabilizing user trends, upside to 2Q guidance & raised its full-year 2025 Bookings & Adj. EBITDA outlook." JPMorgan reiterates Sunrun as a top pick JPMorgan says the solar company remains a top pick following earnings on Wednesday. " RUN reported 2Q contracted value and increased FY25 guidance significantly above expectations, driven by a record storage attach rate, higher volumes and lower operating costs." Read more. Piper Sandler downgrades Campbell's to neutral from overweight Piper says it sees too much pressure in the snacks category. "CPB continues to have good momentum in its [meals and beverages] segment, helped by strong Rao's and broth momentum, but Snacks category trends remain pressured, and may likely stay soft through F26." Bank of America reiterates Tesla as neutral The firm says Tesla is "most impacted" following President Trump's decision to impose tariffs on semiconductors and chips. "Recall that TSLA is exposed to semiconductors both for vehicle production and capex (purchases of advanced chips for AI purposes); F manufactures most of their vehicle in the U.S. ..." Bank of America reiterates DoorDash as buy Bank of America says it sees "multiple drivers of sentiment improvement ahead" for shares of DoorDash following earnings. "Overall strong quarter as accelerating organic growth can reset Street view that long term growth prospects were murkier following multiple acquisitions." Deutsche Bank reiterates Uber as buy Deutsche raised its price target on Uber to $105 from $100 following earnings. "These dynamics speak to the deepening platform flywheel, as Uber' s AI-driven cross-sell and loyalty initiatives enhance both engagement and margin leverage, supporting a credible path to long-term earnings growth." Bank of America reiterates Apple as buy The firm raised its price target to $250 per share from $240. "Given the recent development of Apple's i ncreased investment in the U.S., it seems increasingly likely that several Apple products will be exempt from tariffs." Roth upgrades Lyft to buy from neutral Roth upgraded the ride-hailing app following earnings. "We are upgrading LYFT to Buy (from Neutral). Our PT goes up to $19 (from $16) driven by higher estimates and forwarding valuation framework to 2026." Bank of America double upgrades CommScope to buy from underperform The bank upgraded the connectivity company following news it intends to sell off another piece of its business. "We are double upgrading CommScope from Underperform to Buy following its decision to sell CCS, its flagship segment, that contributed between 62% to 74% of the company's EBITDA." Oppenheimer downgrades International Flavors to perform from outperform Oppenheimer says it sees too many headwinds for the flavors and fragrance company "We are downgrading shares of IFF to Perform from Outperform and removing our $89 price target. While 2Q offered all the catalysts needed for the stock to work, we were reminded that the cycle does, in fact, always win."