Thursday’s Biggest Analyst Calls: Apple, Nvidia, Tesla, Mcdonald’s, Netflix, Coreweave, First Solar & More

Here are Thursday’s biggest calls on Wall Street:

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Citi Maintains Bullish View on First Solar

Citi reaffirmed its “Buy” rating on First Solar ahead of the company’s upcoming earnings report on July 31. The firm said investors are likely to concentrate on several key areas: the effects of reduced tariffs on financial guidance, how second-quarter bookings compare to the consensus expectation of roughly 0.5 gigawatts, the operational efficiency of its Asian facilities, and the risk of potential international order cancellations.

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Barclays Holds Tesla at Neutral Amid Uncertainty

Barclays kept its “Equal Weight” rating on Tesla but admitted confusion around the stock ahead of its second-quarter earnings report next week. The analysts noted that, much like in the first quarter, Tesla’s setup remains murky. Still, they acknowledged the possibility of the stock performing better than expected.

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Citi Upgrades Steven Madden to Buy

Footwear brand Steven Madden received an upgrade from Citi, moving from “Neutral” to “Buy.” The firm stated that profit margins for the retailer appear to have bottomed out. Along with the rating change, Citi increased its price target from $26 to $32.

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Jefferies Lifts Mondelez to Buy

Jefferies upgraded Mondelez to a “Buy” from “Hold,” citing the company’s strong operational performance. Despite lingering pressure on U.S. consumers, the firm pointed to favorable market dynamics in Europe, improved cocoa cost conditions, and effective company execution as reasons for anticipated profit growth into 2026 and beyond.

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Jefferies Downgrades Starbucks

Starbucks was cut to “Underperform” by Jefferies, which expressed doubts about any near-term improvement in the company’s fundamentals. The firm set a $76 price target, arguing that recent gains have already priced in too much optimism.

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Jefferies Also Cuts Shake Shack

In a similar move, Jefferies downgraded Shake Shack to “Underperform” from “Hold.” Analysts said the stock has been re-rated based on overly optimistic assumptions about short-term same-store sales growth.

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Bernstein Reaffirms Bullish Outlook on Nvidia

Bernstein reiterated its “Outperform” rating on Nvidia, pointing to a huge and still-developing opportunity in data centers. The firm believes substantial upside remains for the semiconductor giant.

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Bernstein Raises Price Target on Netflix

Bernstein also maintained its “Outperform” rating on Netflix while increasing the stock’s price target from $1,200 to $1,390 per share. With earnings on the horizon, the analysts said long-term fundamentals are increasingly important given the stock’s current valuation at 40 times expected 2026 earnings.

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JPMorgan Upgrades Cars.com

JPMorgan upgraded used car platform Cars.com from “Neutral” to “Overweight.” The analysts cited compelling valuation and reduced risk from economic cycles as reasons for the move.

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Evercore ISI Downgrades Progressive

Insurance company Progressive was downgraded by Evercore ISI to “In Line” from “Outperform.” While the firm doesn’t see significant downside at current valuation levels, they noted it’s hard to envision the stock outperforming, particularly with the lack of positive revisions to earnings forecasts.

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Needham Starts Vertical Aerospace at Buy

Needham initiated coverage of eVTOL (electric vertical takeoff and landing) aircraft maker Vertical Aerospace with a “Buy” rating and a $9 price target, citing strong market positioning.

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HSBC Sees Risks for CoreWeave

Cloud computing company CoreWeave was initiated at “Reduce” by HSBC. The firm expressed concern about the company's liquidity and rising borrowing costs, especially as it diversifies its customer base away from Microsoft and hasn’t yet received significant cash advances from OpenAI.

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Mizuho Upgrades Brixmor

Mizuho gave Brixmor Property Group an upgrade from “Neutral” to “Outperform.” Analysts are optimistic about the real estate investment trust due to strong leasing trends, favorable tenant profiles, and better-than-expected earnings potential through 2026.

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JPMorgan Adds HPE to Focus List

Following Hewlett Packard Enterprise’s acquisition of Juniper Networks, JPMorgan upgraded the stock to “Overweight.” The firm sees HPE emerging as a networking powerhouse with a broad product range, including switches, routers, and wireless access points.

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TD Cowen Raises Microsoft Target

TD Cowen reiterated a “Buy” on Microsoft and increased its price target from $540 to $580. The firm believes Microsoft remains one of the top beneficiaries of AI innovation, with earnings due on July 30.

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Benchmark Starts CarMax at Buy

Used car retailer CarMax was initiated at “Buy” by Benchmark, which set a $75 price target and highlighted the company’s recovery prospects.

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JPMorgan Ups Apple Target

JPMorgan maintained its “Overweight” rating on Apple while increasing its price target to $250 from $230. The analysts cited AI advancements, a maturing customer base ripe for upgrades, and strong growth in services as key drivers of future earnings.

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Wells Fargo Likes McDonald’s Ahead of Earnings

McDonald’s remains a “Top Pick” at Wells Fargo, with earnings due August 6. Analysts expect a strong rebound in second-quarter same-store sales, an improving product lineup, and a favorable outlook for international operations and foreign exchange impact.

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Barclays Starts Futu Holdings at Overweight

Futu Holdings, a major online broker in Asia, received an “Overweight” initiation from Barclays. The firm set a price target of $176 and praised the company’s positioning for future growth.

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Bernstein Remains Bullish on Amazon

Amazon remains a top idea for Bernstein, which continues to rate the stock “Outperform.” The firm expects revenue growth to accelerate, driven by improvements in AWS and easing supply constraints for AI chips.

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Leerink Upgrades Elanco

Pet health company Elanco was upgraded by Leerink from “Market Perform” to “Outperform.” The firm expects earnings growth to reach the mid-double digits in the coming years, making it one of the most attractive plays in their coverage.

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Bank of America Upgrades CSX

CSX was upgraded to “Buy” from “Neutral” by Bank of America, which lifted the price target to $42 from $34. The firm said growing merger and acquisition interest in the rail sector could help drive valuations higher.