Thursday’s Biggest Analyst Calls: Nvidia, Apple, Visa, Amazon, Rivian, Micron, Oracle, Roblox & More

‍Here are the biggest calls on Wall Street on Thursday:

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Daiwa Maintains Outperform Rating on Nvidia, Boosts Price Target

Daiwa Securities reaffirmed its positive outlook on Nvidia, increasing its price target from $115 to $165 per share. The firm referenced the surge in Nvidia’s data center revenue guidance back in May 2023—from $4 billion to $10 billion—as a pivotal moment. Since then, the stock has experienced periods of strong gains followed by pauses. Daiwa believes the current momentum is once again upward, thanks to solid quarterly performance and continued optimism heading into 2025.

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Bank of America Reiterates Nvidia as a Top Sector Pick

Bank of America also maintained its bullish stance on Nvidia, reaffirming it as a top pick after meeting with the company’s management. The bank kept its buy rating and a $180 price target, noting Nvidia’s significant lead in artificial intelligence capabilities. Analysts believe Nvidia remains ideally positioned to benefit from long-term AI trends, citing its technological leadership, developer ecosystem, scale, and dominant position in the industry.

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Mizuho Upgrades Visa to Outperform

Mizuho upgraded Visa’s stock from neutral to outperform, expressing confidence in the ongoing transition from cash to card payments in the U.S. The analysts said that this shift has historically driven two-thirds of Visa’s volume growth, and they believe this trend still has room to continue. The longevity of this cash-to-card transition remains a key debate among investors, but Mizuho is optimistic about its persistence.

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Bank of America Upgrades Gerdau to Buy

Bank of America raised its rating on Gerdau from neutral to buy. The firm highlighted the strength of the U.S. long steel market, where prices have been rising and demand remains strong. Extended lead times and a recent move to increase steel import tariffs to 50% could further boost domestic steel prices. These factors, according to BofA, create a favorable environment for Gerdau.

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Jefferies Initiates Coverage of Excelerate Energy with Buy Rating

Jefferies began its coverage of Excelerate Energy with a buy rating. The firm emphasized the company’s unique position in the LNG (liquefied natural gas) sector, offering comprehensive solutions across the entire value chain. Jefferies views Excelerate as a differentiated energy player with strong long-term potential.

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UBS Names Netflix a Top Pick

UBS declared Netflix one of its highest conviction ideas. The firm said that the broader direct-to-consumer (DTC) streaming space is evolving in a way that favors Netflix, especially as rivals cut back on spending and raise prices. Industry consolidation could further benefit Netflix, reinforcing its leadership in the sector.

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UBS Also Names Amazon a Top Idea

UBS also identified Amazon as a top idea, pointing to multiple opportunities for improving profit margins. The firm highlighted Amazon’s potential to grow margins in 2025, following gains in 2023 and 2024. UBS sees this margin expansion coming from simultaneous progress across several of Amazon’s core business areas.

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Jefferies Downgrades Chewy to Hold

Jefferies downgraded Chewy from buy to hold, citing valuation concerns. The stock has surged 41% this year and currently trades at 24 times its projected 2026 EBITDA. Jefferies believes that this high valuation leaves little room for upside in the near term, especially given what they see as an unlikely beat-and-raise performance in the first quarter.

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Morgan Stanley Maintains Overweight Rating on Apple

Morgan Stanley reiterated its overweight rating on Apple, noting that app store revenue is surpassing expectations. Their internal checks show that App Store performance is tracking 1.5 percentage points above forecast, which could translate to a roughly $110 million boost in services revenue for the June quarter, assuming other variables remain unchanged.

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JPMorgan Upgrades Dollar Tree to Outperform

JPMorgan upgraded Dollar Tree from neutral to overweight, citing a favorable risk/reward outlook. The firm expects the retailer to return to double-digit earnings per share (EPS) growth over the next few years, supported by core business improvements and strategies to mitigate tariffs.

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Bernstein Upgrades Texas Instruments to Market Perform

Bernstein moved its rating on Texas Instruments from underperform to market perform. Although the stock has struggled since September 2023, the firm believes the potential downside has significantly diminished. Despite substantial earnings revisions, the share price has remained more resilient than anticipated.

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Morgan Stanley Maintains Equal Weight Rating on Rivian

Morgan Stanley kept its equal weight rating on Rivian. While the firm sees promise in Rivian’s integrated hardware and software platform, particularly for AI-driven robotics, they caution that generating sustainable profit from electric vehicles and managing high compute-related costs remain key challenges.

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Barclays Reiterates Overweight on Oracle

Barclays remains optimistic about Oracle ahead of its upcoming earnings. The firm expects a strong showing in the fourth quarter, calling it a potential comeback period for the tech company.

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UBS Maintains Buy on Micron, Increases Price Target

UBS raised its price target on Micron from $92 to $120 per share, driven by a better industry outlook and reduced tariff concerns. The firm maintained a buy rating, signaling increased confidence in the company’s near-term prospects.

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TD Cowen Initiates Waystar Coverage with Buy Rating

TD Cowen initiated coverage of healthcare tech company Waystar Holding Corp. with a buy rating and set a $51 price target. The analysts see the company as well-positioned in the healthcare software market.

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Bank of America Reiterates Buy on Roblox, Raises Price Target

Lastly, Bank of America reiterated its buy rating on Roblox and increased its price objective to $103 from $86. The firm’s valuation is based on a 42x multiple of estimated 2026 EBITDA, reflecting its confidence in the company’s long-term growth.

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