Friday’s Biggest Analyst Calls: Nvidia, Amazon, Microsoft, Coinbase, Lyft, Affirm, Boeing, Tapestry & More

Here Friday’s the biggest calls on Wall Street:

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‍Bank of America Reaffirms DraftKings as a Buy

Bank of America maintained its bullish stance on DraftKings shares after the company’s Thursday earnings report. The firm expressed confidence in DraftKings due to its solid business fundamentals, its revenue growth that’s outpacing the broader market, and its expected shift toward positive adjusted EBITDA. In short, Bank of America continues to see DraftKings as a buy because of its strong underlying performance and future profitability outlook.

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Goldman Sachs Upgrades Lyft to Buy

Goldman Sachs upgraded Lyft’s stock from neutral to buy, citing the stock’s current undervaluation. The firm acknowledged that near-term debates around the ride-sharing industry — including pricing strategies, shifts in market share, competition from autonomous vehicles, and changes in consumer spending habits — will likely persist. However, Goldman Sachs believes that Lyft’s stock price does not reflect its earnings potential over the next two to three years, prompting the upgrade.

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Susquehanna Upgrades Affirm to Positive

Following Thursday’s earnings report, Susquehanna boosted its rating on fintech company Affirm from neutral to positive. The firm pointed out several highlights from the quarter, including the explosive growth of the Affirm Card (which saw a 115% year-over-year increase, reaching 2 million cardholders) and the rising popularity of Affirm’s 0% APR product (up 44% year-over-year). In addition, the company’s multiple forward flow deals led to an 89% jump in gain-on-sale revenue. Management also raised its full-year guidance, reinforcing Susquehanna’s more optimistic outlook.

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Bernstein Reiterates Coinbase as Outperform

Bernstein reaffirmed its outperform rating on Coinbase after reviewing its latest earnings. The firm expects the ongoing cryptocurrency bull market to stay strong and anticipates that Coinbase will deliver at least one blockbuster quarter, similar to the fourth quarter of last year, driven by surging crypto prices. Bernstein likes Coinbase as a clear leader in crypto financial services, especially as the company benefits from regulatory advantages and the expansion of the U.S. onshore crypto market compared to offshore players.

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Bank of America Maintains Pinterest as Buy

Bank of America stood by its buy rating on Pinterest following the company’s Thursday earnings. The firm remains positive on Pinterest, highlighting favorable user engagement trends and the fact that the company is still in the early stages of tapping into artificial intelligence benefits across its platform.

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UBS Reiterates Buy Rating on Boeing

UBS raised its price target on Boeing shares to $226, up from $207, while maintaining its buy rating. The firm noted that tariff risks appear to be easing following a deal with the U.K., which left 10% tariffs in place. UBS calculated the potential impact on Boeing’s free cash flow by analyzing supply chain exposure by country, estimating a 2026 free cash flow hit of $453 million under full reciprocal tariffs and $275 million under the current tariff structure.

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Piper Sandler Downgrades Expedia to Underweight

Piper Sandler lowered its rating on Expedia shares from neutral to underweight after the company’s earnings results, citing a slowdown in inbound travel. While Expedia’s first-quarter bookings and revenues missed expectations by around 1%, better-than-expected EBITDA partially offset these shortfalls.

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Wells Fargo Downgrades International Paper

Wells Fargo downgraded International Paper shares to equal weight from overweight, reducing its price target to $40 from $45. The firm expressed concerns that International Paper’s 2025 guidance seems unattainable in a weakening environment, where both corrugated volumes and pricing are turning negative. Wells Fargo believes the current share price still reflects expectations that may no longer be achievable.

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Morgan Stanley Initiates Himax Technologies as Overweight

Morgan Stanley began coverage on semiconductor company Himax Technologies with an overweight rating, pointing to the company’s opportunities for top-line growth and margin expansion. The firm expects Himax to grow its non-driver integrated circuit (IC) business by entering the cloud artificial intelligence (AI) and edge AI markets, including applications like AI glasses and PCs.

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Morgan Stanley Upgrades Haleon to Overweight

Morgan Stanley upgraded Haleon, a British consumer healthcare firm, from equal weight to overweight. The firm emphasized Haleon’s strong market presence in defensive product categories, which it sees as a key advantage.

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Morgan Stanley Upgrades Tapestry to Overweight

Morgan Stanley also upgraded Tapestry, the parent company of brands like Kate Spade, to overweight from equal weight. The firm cited improved drivers since its previous rating, as well as the likelihood of upward earnings-per-share (EPS) revisions over the next 12 months. Morgan Stanley believes these revisions could help lift the stock’s valuation.

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Citi Downgrades Wolfspeed to Sell

Citi cut its rating on Wolfspeed from neutral to sell, citing a range of negative catalysts for the semiconductor company. Although Wolfspeed reported March quarter results with revenue and EPS that matched or beat Street estimates, the company’s decision not to provide guidance for the June quarter — along with its avoidance of questions on the earnings call — raised concerns.

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Bank of America Upgrades Microchip to Neutral

Bank of America lifted its rating on Microchip from underperform to neutral, saying it’s becoming more optimistic about the stock following the return of respected former CEO Steve Sanghi. The firm noted that Sanghi’s leadership has brought renewed urgency to restructuring efforts and sharpened the company’s focus on customers and products, aided by a recovery in key sectors like aerospace and defense.

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UBS Reiterates Buy on Nvidia

UBS reaffirmed its buy rating on Nvidia after examining April export data released by Taiwan’s Ministry of Finance. Although April was another strong month, UBS expressed caution, noting that it’s unclear how much of the performance reflects underlying strength versus tariff-related pull-ins. The firm pointed out that the export data has not been a reliable predictor for Nvidia’s results in recent quarters, with significant decoupling in either direction.

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Wedbush Reiterates Outperform Ratings on Amazon, Alphabet, and Microsoft

Finally, Wedbush maintained its outperform ratings on Amazon, Alphabet, and Microsoft, noting that these major cloud and hyperscale players remain key forces in the early stages of the AI revolution. Wedbush highlighted that while Microsoft has been leading, Google Cloud (GCP) and Amazon Web Services (AWS) are also seeing strong momentum in the cloud and AI sectors.

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