Thursday’s Biggest Analyst Calls: Nvidia, Apple, Broadcom, Micron, Microsoft, Amazon, Dell & More

Here are Thursday’s biggest calls on Wall Street:
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KeyBanc Starts Cisco With Overweight Rating
KeyBanc Capital Markets began coverage of Cisco Systems with an “overweight” rating, noting the company is on a strong growth path. They highlighted consistent product order growth over several quarters, suggesting healthy revenue potential through 2026 and 2027. Cisco’s increasing focus on subscriptions and software is also seen as a positive, making its valuation look appealing compared to other software and cybersecurity firms.

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Baird Launches Haemonetics Coverage as Overweight
Baird initiated coverage of Haemonetics, a company known for plasma collection systems, with an overweight rating. Analysts pointed to a turnaround currently underway and expect the firm to benefit from the growing demand for plasma-based therapies.

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UBS Maintains Neutral on Apple Amid AI Acquisition Rumors
UBS kept its neutral stance on Apple, expressing caution amid speculation that the tech giant might acquire Perplexity AI. While Apple’s AI capabilities are currently seen as underwhelming, UBS believes such a deal would be viewed as a defensive move, especially with the Department of Justice’s antitrust ruling against Google expected in August 2025.

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Citi Upgrades Truist Financial to Buy
Citi lifted its rating on Truist Financial from neutral to buy, citing the bank’s compelling valuation, upcoming stock buybacks, and signs of improving fundamentals. Analysts believe there’s too much value in the stock to ignore at this point.

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Bank of America Sticks With Alphabet at Buy
BofA reaffirmed its bullish view on Alphabet, saying investor sentiment appears divided due to concerns over monetization and market share. However, they noted that many investors still hold a bullish view, which supports the firm’s continued buy rating.

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Benchmark Reiterates Tesla as Buy After Robotaxi Launch
Benchmark raised its price target for Tesla from $350 to $475, citing the launch of the company’s robotaxi service in Austin as a major growth driver. The analysts see the development as a key milestone that sets up further expansion opportunities.

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Morgan Stanley Maintains Overweight on Dell
Morgan Stanley reiterated its overweight rating on Dell Technologies, expressing confidence in the company’s ability to manage profit margins despite cost pressures, particularly within the AI server segment.

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Piper Sandler Begins Amer Sports Coverage With Overweight
Piper Sandler initiated coverage of Amer Sports with an overweight rating and a $45 price target. The firm praised the company’s well-executing portfolio of brands, calling it a rare standout in the consumer goods sector.

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Citi Starts Sandisk With Buy Rating
Citi began coverage of Sandisk, a global leader in data storage, with a buy rating. Analysts see strong positioning in its core markets including solid-state drives, memory cards, and portable storage devices.

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UBS Stays Bullish on Nvidia and Broadcom
UBS reaffirmed its buy ratings on Nvidia and Broadcom, citing continued momentum in artificial intelligence infrastructure demand. Micron and TSMC were also mentioned as beneficiaries, with Micron seen as a secondary player due to increasing memory needs.

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Jefferies Upgrades Kinross Gold to Buy
Jefferies lifted Kinross Gold from hold to buy, raising its price target from $14 to $18. The firm sees an 18% potential upside based on favorable market conditions and the company’s operational outlook.

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RBC Upgrades General Mills to Outperform
RBC moved General Mills from sector perform to outperform, pointing to encouraging earnings guidance for fiscal 2026. Despite weak investor sentiment around packaged foods, RBC believes the company has enough flexibility to meet its targets.

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Redburn Reaffirms Amazon as Buy
Rothschild & Co. Redburn maintained its buy rating on Amazon, despite year-to-date underperformance. Analysts expect a strong rebound in AWS growth, which they believe will act as a major catalyst for the stock.

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Citizens Upgrades Penn Entertainment to Outperform
Citizens raised Penn Entertainment to market outperform, saying the company has weathered multiple challenges and is now poised for a turnaround. The analysts estimate about 38% upside from current levels.

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Wells Fargo Downgrades Trade Desk to Equal Weight
Wells Fargo downgraded Trade Desk from overweight to equal weight, expressing concern about intensifying competition from Amazon’s advertising operations, especially heading into 2026.

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UBS Reaffirms Micron as Buy
UBS lifted its price target on Micron from $120 to $155 after a solid earnings report. The company met or exceeded expectations around high bandwidth memory revenue and margins.

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William Blair Upgrades Elanco Animal Health to Outperform
William Blair boosted Elanco to outperform, citing encouraging feedback from recent executive meetings. The firm is optimistic about the company’s momentum and product pipeline.

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Morgan Stanley Raises Microsoft Target to $530
Morgan Stanley reaffirmed Microsoft’s overweight rating and bumped its price target to $530 from $482, citing stronger confidence in Azure’s future AI-related revenues and revised forecasts based on OpenAI’s contribution.

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Deutsche Bank Starts Anheuser-Busch InBev With Buy Ahead of Earnings
Deutsche Bank initiated a catalyst buy rating on AB InBev, anticipating a positive earnings report at the end of July following a recent stock pullback.

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UBS Ups Meta Price Target to $812
UBS maintained its buy rating on Meta while raising its target to $812. The firm sees less risk for Meta compared to others exposed to slowdowns in enterprise AI spending, given Meta largely builds and uses its own technology.

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Barclays Initiates NRG Energy at Overweight
Barclays began coverage of NRG Energy with an overweight rating and a price target of $197, indicating strong growth potential in the energy sector.

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JPMorgan Maintains Apple as Overweight, Lowers Target
JPMorgan reiterated Apple at overweight but cut its target from $245 to $230. Still, it expects strong near-term performance driven by demand and Chinese subsidies.

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BofA Reiterates Citi as Buy, Raises Target
Bank of America raised its target on Citi from $89 to $100, pointing to CEO Jane Fraser’s strategic initiatives. The firm believes these efforts give Citi a real shot at becoming competitive again.

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