Here are the biggest calls on Wall Street on Wednesday: Morgan Stanley reiterates Apple as overweight The firm says it sees “little disruption” for Apple following the departure of the COO. “Soon-to-be COO Sabih Khan brings a strong pedigree that likely means little disruption (or change) in operations or supply chain strategy.” RBC reiterates Tesla as outperform RBC raised its price target to $319 per share from $307 on Tesla. “Q2 deliveries were inline with consensus but above buyside expectations. Deliveries across regions were resilient. The new affordable car coming in Q3 should help performance in Europe and China. Shares have sold off since the June 22 robotaxi launch in Austin. We expect positive commentary on this development on the Q2 call, which could be a catalyst for shares.” KeyBanc downgrades T-Mobile to underweight from sector weight Key says it sees too many negative catalysts. “We downgrade TMUS to UW and establish a $200 downside PT. Despite underperformance YTD (recall our D/G to SW in December), we think underperformance will continue for these reasons: 1) we think TMUS is fiber deficient in a converged/bundled world; 2) we think the NT macro/competitive environment limits upside to expectations.” Goldman Sachs downgrades SolarEdge to neutral from buy Goldman says it sees too much uncertainty in the solar sector. “With the company successfully turning around its business, which has been a driver of the strong stock price appreciation since the beginning of the year, we believe it is prudent to move to the sidelines on SEDG given general market uncertainty across the [residential] sector.” Read more. DA Davidson initiates LiveRamp as buy DA says it sees top-line acceleration for the software company. “We are initiating coverage of LiveRamp Holdings with a BUY rating and a $45 price target based on 14x FY27 FCF due to the company’s underappreciated network effects and growing importance as a key intermediary in the data collaboration ecosystem.” KBW upgrades JPMorgan and Morgan Stanley to outperform from market perform. The firm says both banks have superb business models. “Among Universals, JPM and MS to OP (from MP) – our calls are rooted in business model superiority with leading ROTCEs and significantly less ROTCE [return on tangible common equity] volatility.” William Blair initiates Wingstop as outperform William Blair says Wingstop has impressive comps. “Flying High With Strong Brand Momentum and Long Growth Runway; Initiating With Outperform Rating.” Canaccord initiates Redwire as buy Canaccord says the aerospace company is a drones beneficiary. “We are initiating coverage of Redwire Corporation (RDW) with a BUY rating and a $20 price target.” Jefferies initiates British American Tobacco as a top pick Jefferies says it sees a multitude of catalysts ahead for the tobacco giant. “We see BAT as an underappreciated Smoke-Free improver thanks to the major success of Velo in the US and Europe, a long-term margin improvement trend, high cash returns and attractive valuation.” TD Cowen reiterates Meta as buy TD Cowen raised its price target on the stock to $800 per share from $700. “We expect Meta to beat consensus 2Q rev/EPS est’s.” TD Cowen reiterates Alphabet as buy TD Cowen says concerns about search declines are overdone and that it’s sticking with the Google parent ahead of earnings. “GOOG’s Gen AI Efforts, Digital Ad Trends In Focus Amid Resilient Consumer.” Citi reiterates Disney as buy Citi raised its price target on Disney ahead of earnings in early August to $140 per share from $125. “We believe the primary focus will the performance of domestic parks following the opening of Epic Universe in May, DTC profitability, and the upcoming launch of the firm’s ESPN flagship product.” Citi upgrades So-Young International to buy from neutral Citi says the China social community is a disruptor. “Since launch in Nov 2024, SoYoung C linic has quickly expanded with 31 centers in major cities (Beijing, Shanghai, Shenzhen) by end-Jun, verifying SY’s strength in 1) differentiating brand position for quality standardized service and value-for-money mindshare for mass public; 2) increasing pricing power over procurement as it scales up…” Melius upgrades Caterpillar to buy from hold Melius says it sees “earnings upside” for Caterpillar. “The trigger for the upgrade is that we have raised our 2027 estimates materially after thinking about the scale of the datacenter driven capacity increase in engines.” Oppenheimer upgrades Microsoft to outperform from perform The firm says the AI opportunity is too attractive to ignore. “We upgrade MSFT to Outperform from Perform and establish a $600 PT.” Read more. JPMorgan upgrades Bloom Energy to overweight from neutral JPMorgan says the energy company is a beneficiary of the Big Beautiful bill. “We are upgrading BE to Overweight from Neutral.” Read more. JPMorgan reiterates Broadcom as overweight JPMorgan says the company is “firing on all cylinders” following a meeting with Broadcom management. “Yesterday, we hosted an investor group meeting with Broadcom’s President and CEO, Hock Tan, CFO, Kirsten Spears, and VP of IR, Ji Yoo. The discussions centered around strong AI demand trends, which are driving strong growth in Broadcom’s custom AI XPU business and driving demand for its high performance networking portfolio.” Wolfe initiates MongoDB as outperform Wolfe says it sees a slew of positive catalysts ahead for the database company. “The most visible near-term catalyst for MDB is the company’s F2Q26 earnings print…” Citi downgrades Wynn to neutral from buy Citi says a lot of good news is already “priced in.” “We like Wynn for its increasing dedication to Premium Mass in Macau. The concurrent reduction in North America capex, when capex in the UAE increases, should provide Wynn with the financial flexibility to pursue new investment opportunities and enhance shareholder return. However, we believe these positives are mostly priced in.” Citi upgrades Haemonetics to buy from neutral Citi says it sees margin expansion from the health-care company. “With HAE FY26 guidance clearing the hurdle the path forward is more derisked as Plasma share gains are baked into contracts, supporting HSD core revenue growth and margin expansion to deliver high-teens EPS growth, upgrading HAE to Buy from Neutral, raising our TP to $90 from $71.” Bank of America reinstates Super Micro Computer as underperform The firm resumed coverage of the stock and says the “AI server market is getting crowded.” “We resume coverage of Super Micro (SMCI) with an Underperform rating and a price objective of $35 (~29% potential downside). We think: 1) margins will remain under pressure in a more competitive AI server/rack market; 2) availability of components (GPUs, liquid cooling components) may limit revenue growth…”
