Tuesday’s Biggest Analyst Calls: Nvidia, Apple, Ferrari, Tesla, Coreweave, Hershey’s, Ferrari, Dell & More

Here are Tuesday’s biggest calls on Wall Street:

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Bernstein initiates Apple with an Outperform rating
Bernstein began coverage on Apple with a bullish outlook, highlighting strong earnings potential. The firm sees growth driven by Apple’s expanding user base and consistent share repurchases.

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While risks remain in areas like AI and new hardware, Bernstein noted that a major overhang the DOJ’s Google ruling was resolved in Apple’s favor, potentially opening doors for AI partnerships.

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Wolfe starts coverage of Allstate at Outperform
Wolfe believes Allstate stands to gain if interest rates move lower. The firm added that for the stock to truly deliver, Allstate must prove it can transition into a growth-oriented company.

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Raymond James initiates CoreWeave at Outperform
Raymond James launched coverage of CoreWeave with a $130 price target, citing strong momentum and upside potential for the AI-focused company.

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UBS upgrades Nio to Buy from Neutral
UBS turned bullish on Chinese EV maker Nio, noting that consumer sentiment has improved.
The bank said new product launches, along with the company’s recent $1 billion equity raise, bolster confidence in its operations and long-term outlook.

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Morgan Stanley reiterates Tesla as Overweight
Morgan Stanley reaffirmed its overweight call on Tesla, pointing out that while Tesla is the smallest of the so-called “Magnificent Seven,” it has some of the largest growth opportunities, particularly in physical AI applications.

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TD Cowen downgrades Warner Bros. Discovery to Hold
TD Cowen cut its rating on Warner Bros. Discovery, saying risk/reward is less attractive after a sharp rally.
Shares spiked beyond the firm’s $14 price target following reports still unconfirmed that Paramount Skydance might be weighing a bid for the company.

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Goldman Sachs upgrades Hershey to Buy from Sell
Goldman made a double upgrade on Hershey, calling the stock compelling. The firm believes cost pressures such as cocoa prices and tariffs are already priced in, while recent improvements in market share and tailwinds in the second half of the year make the setup attractive.

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Berenberg initiates Ferrari at Buy
Berenberg started coverage of Ferrari, describing the automaker as a strong long-term investment. They highlighted Ferrari’s brand power, pricing strength, and durable returns on capital as key drivers, even as unit growth remains modest.

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Citizens JMP upgrades CoreWeave to Outperform
Citizens JMP sees CoreWeave as a misunderstood stock and upgraded it to Market Outperform with a $180 price target.
The firm argued that the company’s revenue model is underappreciated, comparing its success potential to Oracle’s.

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Bernstein reiterates Nvidia at Outperform
Bernstein remains bullish on Nvidia, emphasizing the massive opportunity in datacenters. The firm said the growth runway remains significant and still in early stages.

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Compass Point initiates Klarna at Buy
Compass Point launched coverage of Klarna, saying the fintech company is well positioned to capture market share. They expect margin expansion as Klarna scales and believe profitability could eventually align with other BNPL peers.

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Rothschild & Co Redburn upgrades Novo Nordisk to Buy
Rothschild & Co Redburn shifted its stance on Novo Nordisk, noting the stock’s valuation is now attractive. They highlighted mid-single-digit growth assumptions for its obesity business, which they see as realistic compared to earlier overly aggressive expectations.

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Rothschild & Co Redburn downgrades Live Nation to Neutral
The same firm downgraded Live Nation, citing valuation and risks tied to the ongoing DOJ lawsuit.
Despite lifting its price target to $170, the firm said the stock’s run-up justifies moving to a more cautious stance.

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Morgan Stanley reiterates Microsoft as Overweight
Morgan Stanley stuck with its bullish view on Microsoft, saying steady earnings growth supports an appealing long-term return profile.

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Morgan Stanley reiterates Amazon, Alphabet, and Meta as Overweight
Looking ahead, Morgan Stanley favors Amazon, followed by Meta and Alphabet, as the top mega-cap picks for the next 12 months.

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Wells Fargo reiterates big banks
Wells Fargo boosted price targets for Bank of America, Citi, JPMorgan, and Goldman Sachs, while keeping Morgan Stanley at Equal Weight. The firm cited stronger-than-expected capital markets and deregulation benefits, naming Citi its top pick.

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Bernstein initiates Dell at Outperform
Bernstein launched coverage of Dell, saying the company is well placed to benefit from AI servers, driving both earnings and free cash flow growth.

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Bank of America upgrades Prologis to Buy
BofA raised its rating on Prologis, pointing to steady high-single-digit FFO growth in a normalized market environment.

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Truist reiterates Amazon as Buy
Truist lifted its price target on Amazon to $270 from $250. The firm said North American revenue for the third quarter is tracking $1 billion above expectations, signaling growth consistent with the prior quarter.

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