Wednesday’s Biggest Analyst Calls of the Day: Apple, Microsoft, Netflix, Adobe, Amazon, Starbucks & More

Here are the biggest calls from Wall Street on Wednesday:

Several notable Wall Street firms released updated ratings and outlooks for various companies on Wednesday. These include fresh initiations, upgrades, downgrades, and revised price targets based on current trends, future growth opportunities, and perceived risks.

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Compass Point Starts Coverage on Block with Buy Rating

Compass Point began coverage of Block Inc., assigning it a “Buy” rating and setting a price target of $80. The firm believes Block’s business fundamentals are poised for renewed growth, signaling that momentum could return to the digital payments company.

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Jefferies Upgrades Apple to Hold

Jefferies revised its view on Apple, moving it up from “Underperform” to “Hold.” Analysts anticipate that Apple’s earnings for the June quarter, scheduled for release in late July, may exceed expectations. However, Jefferies remains cautious, suggesting that guidance for the September quarter could still be conservative.

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Ross Stores Upgraded to Buy by Jefferies

Jefferies also raised its rating on Ross Stores from “Neutral” to “Buy.” The upgrade is based on a favorable valuation gap when compared to competitors, along with potential for margin improvement. The firm sees Ross as well-positioned in the discount retail sector.

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Cantor Fitzgerald Initiates Rigetti Computing at Overweight

Cantor Fitzgerald initiated coverage of Rigetti Computing, assigning it an “Overweight” rating with a $15 price target. Analysts believe the quantum computing firm has strong prospects, given its position in the emerging tech space.

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UBS Downgrades Centene to Neutral

UBS lowered its rating on healthcare provider Centene from “Buy” to “Neutral.” The downgrade follows Centene’s decision to withdraw its 2025 financial guidance, which introduced greater uncertainty for investors and led to a more cautious stance.

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Redburn Downgrades Adobe to Sell

Rothschild & Co Redburn issued a bearish outlook on Adobe, downgrading it from “Neutral” to “Sell.” The firm cited increasing competitive pressures from artificial intelligence as a major threat. They forecast that Adobe’s free cash flow growth will decelerate to low single digits by 2030. The price target was slashed to $280 from $420, reflecting a valuation of 12 times 2026 EV/FCF.

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KeyBanc Begins Coverage of Cava with Overweight Rating

KeyBanc initiated coverage of Cava, a fast-casual restaurant chain, giving it an “Overweight” rating. They called it a compelling growth story and noted Cava’s leadership position in the Mediterranean dining segment with few direct competitors.

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Canaccord Maintains Buy on Netflix and Increases Price Target

Canaccord Genuity reaffirmed its “Buy” rating on Netflix and lifted the price target from $1,380 to $1,525. Analysts cited Netflix’s strong content pipeline and investments in both content production and acquisitions. These efforts are expected to help the streaming platform maintain subscriber loyalty and expand globally, especially across both subscription-based and ad-supported tiers.

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Goldman Sachs Begins Coverage on Crocs with a Sell Rating

Goldman Sachs initiated coverage of Crocs with a “Sell” recommendation. Despite recognizing the brand’s creativity in marketing and innovation, the firm warned of slowing demand for Crocs’ classic clog. This trend may dampen U.S. growth and limit the pace of international expansion, leading to a cautious view.

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UBS Upgrades Altria to Neutral

UBS upgraded its stance on Altria Group from “Sell” to “Neutral.” The shift comes amid rising enforcement against illicit vape products, which could help stabilize or even increase traditional cigarette sales. UBS no longer expects Altria’s earnings per share to decline in 2026, leading to a more neutral outlook.

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Bernstein Reaffirms Outperform Rating on Starbucks

Bernstein maintained its “Outperform” rating on Starbucks and boosted its price target to $100, up from $90. The firm remains optimistic, noting that the stock still has room to double from the lows seen after the company’s second-quarter results.

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Morgan Stanley Upgrades Primo Brands to Overweight

Morgan Stanley lifted Primo Brands’ rating from “Equal Weight” to “Overweight,” calling recent share price weakness a good entry point. The firm views the bottled water company as aligned with long-term health and wellness trends, projecting steady 3–5% top-line growth.

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RBC Selects Microsoft as a Top Q3 Pick

RBC Capital Markets named Microsoft one of its top picks for the third quarter. Analysts expect Microsoft to benefit from continued margin expansion and see the tech giant as a leader in various enterprise software categories, including Azure cloud services, Microsoft Teams, GitHub, and cybersecurity offerings.

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Jefferies Reiterates Buy on Amazon

Jefferies maintained its “Buy” rating on Amazon following a proprietary survey of around 700 U.S. consumers. Results showed that 62% of Amazon shoppers had maintained or increased their spending despite inflation concerns. The survey also found that 73% of respondents had Prime memberships, far ahead of rival Walmart.

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Wolfe Research Upgrades Visteon to Outperform

Wolfe Research upgraded auto tech company Visteon from “Peer Perform” to “Outperform,” citing a series of upcoming catalysts. The firm noted that Visteon is achieving solid progress in its display systems segment, which is often overlooked by investors.

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Northcoast Lifts WisdomTree to Buy

Lastly, Northcoast Research upgraded WisdomTree from “Neutral” to “Buy,” assigning a $15 price target. The firm sees the investment management company as well structured to scale efficiently over time.

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