Wednesday’s Biggest Analyst Calls: Nvidia, Broadcom, Coreweave, Walmart, Cava, Nio, Dell, Capri and More

Here are Wednesday’s biggest calls on Wall Street:

Here are the most notable analyst updates that grabbed attention on Wall Street today:

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Wells Fargo Reaffirms Dell as Overweight

Wells Fargo maintained its bullish stance on Dell Technologies, stating that the stock still has plenty of upside potential.
According to the firm, “Dell remains the strongest AI server growth story in the market.”

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Goldman Sachs Reiterates Buy on Broadcom, Lifts Price Target

Goldman Sachs reiterated a buy rating on Broadcom and increased its price target to $340 from $315 ahead of the company’s September 4 earnings report.
The bank noted, “While expectations are high for the quarter, many investors remain cautious due to premium valuations, Street estimates factoring in strong 2026 growth, and a limited number of near-term catalysts.”

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Cantor Fitzgerald Initiates Travelers with Overweight Rating

Cantor Fitzgerald expressed confidence in Travelers, initiating coverage with an overweight rating.
“The pricing cycle is at a turning point, which often creates complexity but also opens stock-picking opportunities. Our preference leans toward insurers like Hartford, Travelers, and WR Berkley—companies more focused on smaller clients and less exposed to competitive property lines,” the firm explained.

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Deutsche Bank Upgrades Palo Alto Networks to Buy

Palo Alto Networks received an upgrade from hold to buy at Deutsche Bank, which also raised its price target to $220 from $200.
The firm stated, “We see strong fundamentals, experienced leadership, and promising growth tied to its CyberArk acquisition.”

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JPMorgan Reaffirms Overweight on CoreWeave

JPMorgan maintained its overweight rating on CoreWeave following its recent earnings.
“Despite some volatility in its business model, demand continues to exceed supply, and the company reports a strong pipeline,” analysts said.

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Goldman Sachs Upgrades CACI to Buy

Goldman Sachs turned bullish on CACI, moving it from sell to buy due to favorable government IT dynamics under the Trump administration.
“The shift in administration and evolving market conditions position CACI as a top player in the sector,” the note said.

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Piper Sandler Raises Nvidia Price Target, Maintains Overweight

Piper Sandler boosted its price target for Nvidia to $225 from $180, reiterating an overweight rating ahead of earnings later this month.
The firm commented, “We expect another strong quarter for Nvidia and see upside in the July and October numbers.”

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Morgan Stanley Upgrades AvalonBay to Overweight

Morgan Stanley upgraded AvalonBay (AVB) to overweight, encouraging investors to buy the dip.
“AVB has been the worst-performing apartment REIT year-to-date, but we anticipate industry-leading earnings growth between 2025 and 2027,” analysts wrote.

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Morgan Stanley Maintains Overweight on Nio

Despite recent weakness, Morgan Stanley reiterated its overweight rating on Nio.
The firm noted, “Concerns about potential fundraising persist as most EV startups are not yet self-funding, but we remain positive on the company’s outlook.”

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JPMorgan Upgrades SailPoint to Overweight

SailPoint Technologies earned an upgrade from JPMorgan, which called the stock “best-of-breed”.
“With its IPO-related lockup expired, we see a chance to buy a leading identity management vendor at a discount,” analysts said.

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Barclays Upgrades CF Industries and Corteva

Barclays turned positive on CF Industries and Corteva, raising both to overweight following solid second-quarter results.

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KinderCare Downgraded by Barclays

Barclays lowered KinderCare to equal weight, citing ongoing performance struggles.
“The company’s rough start as a public entity is clear, with shares down 45% year-to-date and a disappointing second-quarter report,” the firm said.

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Jefferies Downgrades On Holding

Jefferies cut On Holding to underperform, arguing its valuation is too rich.
“We expect 2025 to be the peak growth year, with slower expansion in 2026 as retailer orders normalize,” the firm explained.

Citi Initiates Progressive as Buy

Citi started coverage on Progressive with a buy rating, highlighting its strong pricing power.
“While market focus is on slower revenue growth, we see Progressive’s margins as highly durable,” analysts noted.

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Bank of America Upgrades V2X

Bank of America upgraded V2X to buy, citing accelerating growth.
“V2X’s full-lifecycle support strategy for complex military operations gives it a major competitive edge,” the report stated.

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JPMorgan Upgrades Capri Holdings

JPMorgan moved Capri Holdings to overweight, citing its compelling value.
“We see multi-year revenue and margin growth driven by renewed momentum at Michael Kors,” analysts wrote.

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Bank of America Maintains Buy on Cava

Bank of America reaffirmed its bullish stance on Cava, pointing to its long-term potential.
“Cava’s growth outlook goes beyond 1,000 U.S. locations, supported by improved unit economics,” the firm said.

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Oppenheimer Reaffirms Walmart as Outperform

Finally, Oppenheimer reiterated an outperform rating on Walmart and raised its target to $115 from $110 ahead of August 21 earnings.
“Following early-year challenges from tariffs and higher costs, we believe positive guidance revisions could emerge soon,” the note said.

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