Thursday’s biggest analyst calls: Nvidia, Netflix, Tesla, Microsoft, Micron, T-Mobile, Berkshire Hathaway & more

Here are Thursday’s biggest calls on Wall Street:

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Baird initiates Rocket Lab as Outperform
Baird began coverage of Rocket Lab (RKLB) with an Outperform rating, saying the company stands out as one of the best positioned players in commercial space travel.
The firm set a price target of $83, based on 30 times its projected 2030 revenue.

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TD Cowen initiates Vistra as Buy
Vistra (VST) earned a Buy rating from TD Cowen, which called it a new top pick in the energy sector. The firm expects Vistra to benefit from strong structural demand for electricity, noting that power needs are growing faster than new generation capacity can be added.

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Truist initiates Gartner as Buy
Truist began coverage of Gartner (IT) with a Buy rating, citing an unusually attractive valuation. The research firm highlighted that Gartner is currently trading at about a 40% discount to its historical EV/EBITDA multiple, following three years of slower growth tied to broader macroeconomic and market-specific headwinds.

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Raymond James initiates Crown Holdings as Outperform
Crown Holdings (CCK) received an Outperform rating from Raymond James, which pointed to the packaging company’s appealing growth and profitability profile.

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Goldman Sachs initiates VTEX as Buy
Goldman Sachs started coverage on VTEX, a developer of e-commerce platforms, with a Buy rating and a 12-month price target of $5.30 per share.
The firm recommended investors buy the dip, seeing opportunity in the stock’s recent weakness.

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JPMorgan upgrades Las Vegas Sands to Overweight from Neutral
JPMorgan upgraded Las Vegas Sands (LVS), citing optimism about the company’s Singapore operations.
The firm’s $60 price target implies an upside of more than 20%, with analysts noting that Macau expectations are already well-settled.

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UBS reiterates Micron as Buy
UBS reaffirmed its Buy rating on Micron (MU) and raised its price target from $225 to $245, citing tight DRAM supply and accelerating demand.
The firm now forecasts Micron’s 2026 earnings could approach $30 per share.

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Goldman Sachs upgrades Celestica to Buy from Neutral
Goldman Sachs upgraded Celestica (CLS) to Buy, setting a 12-month price target of $340, or 40 times forward earnings.
The firm said the data center equipment manufacturer still has significant room to grow.

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Wells Fargo reiterates Netflix as Overweight
Wells Fargo maintained its Overweight rating on Netflix (NFLX), noting that the company’s engagement levels remain strong.
The analysts said M&A is unlikely but could still provide strategic upside as Netflix continues expanding into new content areas.

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Wells Fargo upgrades T-Mobile to Overweight from Equal Weight
The firm upgraded T-Mobile (TMUS) to its top carrier pick, citing superior free cash flow growth, continued network leadership, and share repurchases that enhance capital flexibility.

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JPMorgan upgrades PPG to Overweight from Neutral
PPG Industries (PPG) was upgraded by JPMorgan, which argued that the stock’s market valuation has fallen more sharply than its fundamentals. The analysts see the paint company as attractively positioned for recovery.

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Morgan Stanley initiates Equinix as Overweight
Morgan Stanley launched coverage on Equinix (EQIX) with an Overweight rating and a price target of $950, suggesting 16% upside. The firm believes the company’s three-year growth outlook is achievable, likely driving modest multiple expansion.

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Citizens JMP initiates SharpLink Gaming as Market Outperform
SharpLink Gaming (SBET) was initiated at Market Outperform by Citizens JMP, with a $50 price target, implying over 200% potential upside. The firm cited the company’s Ethereum-based platform as a key differentiator in the gaming sector.

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Bernstein downgrades Lululemon to Market Perform from Outperform
Bernstein downgraded Lululemon (LULU), saying worsening price, markdown, and traffic trends limit near-term visibility. The firm expressed difficulty maintaining confidence in the bullish case without clear catalysts for a turnaround.

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Bank of America reiterates Nvidia as Buy
Nvidia (NVDA) remains a Buy at Bank of America, which praised the chipmaker’s expanding role in AI-driven healthcare workloads. The firm highlighted Nvidia’s continued partnerships in high-performance computing applications.

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Bank of America reinstates Tenaris as Buy
Tenaris (TS) was reinstated with a Buy rating, as BofA called it one of the most resilient names in Europe’s oil and gas sector.

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Bank of America upgrades Sea Limited to Buy from Neutral
BofA upgraded Sea Limited (SE), citing strong underlying fundamentals across its e-commerce, gaming, and fintech businesses. The firm raised its price objective to $215 from $206.

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Morgan Stanley reiterates Microsoft as Overweight
Morgan Stanley reaffirmed Microsoft (MSFT) as a core holding, noting its solid Azure AI demand despite investor concerns about its relationship with OpenAI and the sustainability of its cloud growth.

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UBS reiterates Ferrari as Buy
UBS maintained its Buy rating on Ferrari (RACE) but trimmed its price target to $529 from $579. The firm said Ferrari remains a strong long-term growth story, though short-term catalysts are limited.

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UBS reiterates Berkshire Hathaway as Buy
UBS also reiterated a Buy on Berkshire Hathaway (BRK), reducing its price target slightly to $593. Analysts noted that shares are trading close to intrinsic value, suggesting limited near-term buyback activity.

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Bank of America initiates Vera Therapeutics as Buy
BofA began coverage of Vera Therapeutics (VERA) with a Buy rating and a $48 target price, calling the biotech firm an “underdog” in autoimmune drug development.

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Exane BNP Paribas initiates Tesla as Underperform
Exane BNP Paribas started Tesla (TSLA) at Underperform, acknowledging optimism about its AI ambitions but arguing that the valuation remains difficult to justify, even under generous assumptions.

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Bank of America upgrades Knight-Swift to Buy from Neutral
Finally, BofA upgraded Knight-Swift (KNX), pointing to tightening truckload capacity and calling it a well-managed operator poised to benefit from improving freight conditions.

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