Friday’s Biggest Analyst Calls: Nvidia, Apple, Tesla, Netflix, Target, Birkenstock, Dell, Cisco, Applied Materials and More

Here are Friday’s biggest calls on Wall Street.

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Morgan Stanley Maintains Overweight Rating on Apple
Morgan Stanley believes Apple shares are showing signs of improvement and remain optimistic about the company’s trajectory. “We’re turning more bullish. While forecasts for iPhone unit and revenue growth are still relatively modest, the key factors that drove our positive stance last July remain in place and peak tariff risks are now behind us,” the firm noted.

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Morgan Stanley Reaffirms Nvidia as Overweight
The firm expressed confidence in Nvidia’s Rubin chip development, saying everything appears to be on schedule despite market chatter. “The chip and its system design should be finalized by March next year. Mass production is expected in the second quarter of 2026, with server rack deployment beginning in the third quarter of 2026. So far, there’s no indication of any delay in the Rubin timeline,” Morgan Stanley said.

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HSBC Downgrades Cisco to Hold
HSBC lowered its rating on Cisco after its latest earnings report. “Cisco shares have surged 42% since August 16, 2024 outperforming the broader Nasdaq by 19 percentage points and now look fairly valued,” the firm stated.

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JPMorgan Maintains Overweight on Applied Materials
JPMorgan reiterated its bullish outlook on Applied Materials following Thursday’s results. “We believe this situation reflects timing around spending, while long-term growth drivers remain strong,” the firm said.

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Wells Fargo Sticks With Tapestry as Overweight
Wells Fargo suggested investors take advantage of recent weakness in Tapestry shares, the parent company of Coach.

“We expect Coach to maintain strong momentum, and average unit retail trends remain solid,” analysts wrote.

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Bank of America Reiterates Buy on Birkenstock
BofA remains positive on the footwear brand following its earnings report. “Our Buy rating reflects confidence that robust sales and EBITDA growth can continue as Birkenstock diversifies its product lineup,” the note said.

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Bank of America Keeps Tesla at Neutral
The firm acknowledged Tesla’s progress in expanding its robotaxi operations. “Tesla is taking early steps to enter markets like New York City, Phoenix, Miami, San Francisco, and Nevada. While its goal to cover half of the U.S. population by year-end seems ambitious given regulatory challenges, these moves are encouraging,” BofA explained.

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Raymond James Upgrades Wingstop to Strong Buy
The firm urged investors to use any price pullback as an entry point. “We expect comps to improve in September and accelerate in Q4 as year-over-year comparisons ease,” Raymond James said.

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Mizuho Maintains Outperform on Oracle, Raises Price Target
Mizuho lifted its Oracle price target from $245 to $300 per share. “Oracle is entering its next phase in enterprise AI, and we continue to see it as a top pick,” analysts wrote.

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Bernstein Reaffirms Outperform on Netflix
Bernstein praised Netflix for having a growth strategy that stands out from traditional media firms. “Unlike legacy players that depend heavily on in-house content production, Netflix uses a diversified sourcing approach mixing financing, exclusive licensing, co-productions, and more to deliver consistent hits. It’s a strong formula for long-term growth,” Bernstein stated.

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Susquehanna Initiates Coverage on Parker-Hannifin as Positive
The firm sees significant upside for the motion and control systems leader. “Parker-Hannifin remains a global leader in highly engineered systems that manage fluid, gas, and mechanical movements across industrial markets,” analysts said.

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Evercore ISI Reiterates Outperform on Dell, Ups Target
Evercore sees more potential for Dell after its supply chain checks. “We’re maintaining our Outperform rating and raising the target price to $160 from $150,” the firm noted.

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Gordon Haskett Downgrades BJ’s to Hold
The downgrade was mainly valuation-driven. “After a nearly 70% rally over two years and a move from the low $60s to the low $100s, we believe a more neutral stance is appropriate,” the firm said.

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Bank of America Cuts Applied Materials to Neutral
The firm cited cyclical headwinds for the downgrade. “While Applied Materials remains a quality supplier, its heavy exposure to oversupplied mature nodes and some leading-edge customers like Intel is creating near-term challenges,” BofA wrote.

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Bank of America Downgrades Target to Underperform
The firm flagged multiple headwinds for the retailer.

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“We see rising long-term sales and margin risks for Target, given slowing digital growth, limited scale in advertising and marketplace, pricing pressures, tariffs, and growing competition from Walmart and Amazon,” analysts warned.

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Bernstein Maintains Outperform on GE Aerospace, Lifts Price Target
Bernstein boosted its price objective to $343 from $254 after GE’s July update. “We remain confident in GE’s outlook through 2025 and beyond, supported by two structural advantages that make the stock attractive despite its premium valuation,” Bernstein said.

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D.A. Davidson Upgrades Salesforce to Neutral
The firm said the worst-case scenario is already priced in. “We’re moving to Neutral from Underperform while keeping our $225 price target based on updated FY27 EPS projections,” analysts explained.

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