Wednesday’s Biggest Analyst Calls: Apple, Alphabet, Chipotle, Western Digital, Mcdonald’s & More

Here are the biggest calls on Wall Street on Wednesday:

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Morgan Stanley Reaffirms Overweight on Alphabet
The firm remains bullish on Alphabet, highlighting that the recent DOJ antitrust ruling doesn’t threaten the company’s dominance. “Judge Mehta’s remedies appear largely harmless and unlikely to shake GOOGL’s strong market position. Product innovation and commercial trends will be key drivers as we aim for our $260 bull case,” Morgan Stanley noted.

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Bank of America Maintains Buy Rating on Apple, Lifts Price Target
Bank of America boosted its price target for Apple from $250 to $260 per share. “AAPL shares gained after hours following reports of the DOJ-Google antitrust ruling and its implications,” the bank stated.

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Morgan Stanley Upgrades Kraft Heinz to Equal Weight
The firm upgraded Kraft Heinz from underweight, citing stabilization in fundamentals. “Our previous bearish thesis has largely played out. With valuations now reasonable and organic sales growth showing signs of improvement, we move KHC to Equal Weight,” analysts explained.

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Bernstein Raises HubSpot to Outperform
Bernstein turned more optimistic on HubSpot as macroeconomic challenges ease. “HubSpot continues to lead in SMB sales, service, and marketing, consistently outpacing the market,” the firm commented.

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JPMorgan Reaffirms Overweight on Nvidia
JPMorgan believes Nvidia remains a prime AI beneficiary. “After attending Hot Chips 2025, we’re confident AI adoption will fuel a multi-year surge in demand for advanced computing and networking technologies. NVDA, along with AVGO, AMD, MRVL, MTSI, and ALAB, stands out as a key winner,” analysts said.

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Raymond James Upgrades Regeneron to Outperform
Raymond James sees growth and innovation potential at an attractive valuation. “We’re initiating coverage of REGN with an Outperform rating and a $673 price target,” the firm noted.

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Redburn Upgrades Icon to Buy
Rothschild & Co’s Redburn expects improved bookings for Icon. “We anticipate year-over-year growth in Q3 2025, signaling that recent demand weakness was cyclical, not structural,” analysts stated.

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Wolfe Research Upgrades Delek to Outperform
Wolfe sees more upside for the oil refiner. “DK upgrade to Outperform significant room to run after scenario resets,” the firm highlighted.

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UBS Lifts Teck Resources to Buy
UBS says the mining company now offers an appealing risk/reward setup. “After a period of underperformance, we see the turnaround opportunity as attractive,” analysts noted.

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Morgan Stanley Names Western Digital a Top Pick
The price target moves up to $99 from $92. “Following management meetings, we’re more confident in WDC’s roadmap and believe the valuation gap versus peers is unjustified,” Morgan Stanley said.

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Redburn Upgrades Chipotle to Buy
Analysts see a strong upside for Chipotle. “With downside risk priced in, the risk/reward profile now favors the bulls. Our $55 target suggests nearly 28% upside,” they added.

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Needham Upgrades TransUnion to Buy
The firm expects a strong second half for the credit monitoring company. “Momentum with FinTech clients, a better outlook in India, and easing mortgage headwinds should support growth,” analysts said.

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Baird Upgrades BorgWarner to Outperform
Baird leans into cyclical strength for auto suppliers. “We’re increasing exposure to pro-cyclical names with strong company-specific catalysts, including BWA,” the note stated.

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Melius Upgrades Cummins to Buy
Positive catalysts ahead drive Melius’ upgrade. “We’re raising CMI to Buy with a two-year price target of $500—representing a 25% upside,” analysts said.

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UBS Reaffirms Buy on McDonald’s
Confidence grows after leadership meetings. “Discussions with top executives strengthened our view that McDonald’s will enhance value perception and gain market share in the U.S.,” UBS stated.

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Wells Fargo Starts Coverage of Archrock at Overweight
The firm sees strong positioning for the gas infrastructure player with a $30 price target.

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Wolfe Initiates CoStar Group at Outperform
Wolfe begins coverage of the real estate tech company with a $105 price target, indicating 19% upside.

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Bank of America Upgrades Valero to Buy
The oil refiner looks stronger than last fall. “VLO is flat since launch, but outlook improvements make it better positioned now,” the firm concluded.

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These analyst upgrades and reiterations highlight sectors from tech and energy to consumer staples that Wall Street views as well-positioned for growth. Investors may find opportunities in companies driving innovation, benefiting from cyclical recoveries, and navigating regulatory landscapes effectively.

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