Thursday’s Biggest Analyst Calls: NVIDIA, Netflix, Dell, Microsoft, Boeing, Cisco, Micron, Nike & More

‍Here are Thursday’s biggest calls on Wall Street:

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Evercore ISI Maintains Outperform Rating on Netflix
Evercore continues to back Netflix, expressing optimism ahead of the company’s investor presentation. The firm credits Netflix’s market dominance to strong operational execution, high-quality content, and its scalable platform, which it says gives the company a significant advantage in the streaming industry.

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Raymond James Downgrades JetBlue to Market Perform
Raymond James revised its stance on JetBlue, moving it from “Outperform” to “Market Perform.” The downgrade is based primarily on valuation, as the stock has already hit the firm’s $5 price target. JetBlue was noted as the third-best performing U.S. airline under coverage since its previous upgrade in April, prompting a shift to a more balanced risk-reward view.

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Jefferies Upgrades Petrobras to Buy
Jefferies upgraded Brazilian oil company Petrobras from “Hold” to “Buy,” citing a favorable risk/reward profile. The firm praised management’s cost-cutting initiatives and dividend stability, which could help the company better navigate periods of low oil prices.

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TD Cowen Starts Coverage on Bank of America with a Buy Rating
TD Cowen initiated coverage on Bank of America with a bullish outlook. Rather than losing market share, the bank is seen as a growing force due to its focus on customer experience rather than price, giving it a competitive edge.

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Bank of America Reiterates Buy Rating on Dell
Bank of America reaffirmed its bullish stance on Dell, especially with earnings approaching on May 29. Analysts believe the company stands to benefit from early-stage AI integration, margin improvements, and a forthcoming cycle of PC upgrades and AI-enabled personal computers.

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UBS Downgrades Alcoa to Neutral
UBS cut its rating on Alcoa from “Buy” to “Neutral.” Although the stock has benefited from improving market sentiment and reduced downside risks, UBS questions whether Alcoa will actually reap tangible rewards from the broader macro environment.

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Citi Begins Coverage of Webtoon with a Buy
Citi initiated coverage on storytelling platform Webtoon, assigning a “Buy” rating with a price target of $11. Despite the stock losing more than half its value since its June 2024 IPO, Citi sees potential upside now that expectations have been reset and execution is improving.

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Citi Reaffirms Buy on Microsoft, Lifts Price Target
Citi remains optimistic about Microsoft, raising its price target from $480 to $540. The firm remains bullish due to Microsoft's leadership in generative AI, maintaining its Buy rating.

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Roth MKM Initiates Rubrik as Buy
Roth MKM began its coverage on cybersecurity firm Rubrik with a Buy rating and a $97 price target, describing the company as a leading player in data security.

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Wells Fargo Upgrades Cisco to Overweight
Wells Fargo upgraded Cisco from “Equal Weight” to “Overweight” and increased its price target to $75. The firm pointed to accelerating momentum in AI orders and Cisco’s alignment with Nvidia as reasons for the upgrade.

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Jefferies Reaffirms Buy on Nike
Jefferies continues to favor Nike and views the potential acquisition of Foot Locker by Dick’s Sporting Goods as beneficial. A better-managed Foot Locker and cleaner retail landscape could support Nike’s recovery, they said.

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TD Cowen Downgrades Dick’s Sporting Goods to Hold
TD Cowen downgraded Dick’s to “Hold” from “Buy,” expressing concerns over the acquisition of Foot Locker. They believe the deal exposes Dick’s to volatile fashion trends and increased competition from smaller sneaker retailers.

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Wolfe Research Reiterates Outperform Rating on Boeing
Wolfe Research raised its price target for Boeing to $230, up from $195, after the company signed a major agreement with Qatar Airways for up to 210 widebody aircraft, valued around $100 billion.

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Bank of America Maintains Buy on CoreWeave
Following its quarterly report, Bank of America maintained a Buy rating on AI infrastructure firm CoreWeave. The company outperformed revenue expectations, showing strong returns on assets.

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Mizuho Downgrades CrowdStrike to Neutral
Mizuho lowered its rating on CrowdStrike to “Neutral,” citing the stock’s strength beyond its $425 target and signs of emerging risks. They recommend investors wait for a better price point to enter.

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Wolfe Upgrades Pinterest to Outperform
Wolfe upgraded Pinterest to “Outperform” with a $40 price target, citing healthier fundamentals and improved product performance. The firm also sees fewer macroeconomic headwinds than before.

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KeyBanc Reaffirms Nvidia as Overweight
KeyBanc remains bullish on Nvidia, pointing to its unique position to capitalize on the secular AI and machine learning trends in the data center industry.

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Citi Rates AMD Neutral, Micron as Buy
Citi maintained a Neutral rating on AMD and a Buy rating on Micron. Both companies are expected to benefit from AI deals recently signed in Saudi Arabia. Micron supplies high-bandwidth memory used in AI applications for both AMD and Nvidia.

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DA Davidson Downgrades CoreWeave to Underperform
In contrast to Bank of America’s stance, DA Davidson downgraded CoreWeave to “Underperform.” After reviewing the company’s first detailed earnings report, the firm questioned the scalability of the business and maintained a $36 price target.

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