Here are Wednesday’s biggest calls on Wall Street:
Bank of America said Apple may need to raise prices to offset any tariff impact.
“We est. that Apple sells 50mn iPhones, 15mn iPads, and 10mn Macs in the U.S. per year. We assume that 100% of devices sold in the U.S. will be subject to a 10% tariff.”
UBS said it’s bullish heading into Nvidia earnings next week.
“We expect a strong set of results with guidance that is in-line to better than FQ1 (April) investor bogeys of ~$42.5-43B for total revenue and ~$38.5B-39B for data center.”
Morgan Stanley raised its price target on the stock to $429 per share from $390.
“Our checks indicate a faster than expected recovery for CRWD post the July outage.”
The firm said Salesforce is “compelling.” The firm said it’s also bullish on ServiceNow.
“Salesforce (new, Buy) is our top pick, where both its agent strategy and valuation look compelling. ... .ServiceNow provides customers with a unified platform to access, manage and monitor enterprise processes, providing pre-built workflow tools and integrations to automate tasks across IT operations, HR and customer service.”
The firm said the stock remains a top pick ahead of its investor day on Thursday.
“Ahead of the Investor Day, we think investors are looking for Visa to provide medium-term targets for revenue growth of high-single to low-double-digit and Adj. EPS growth of low-double-digit to low-teens.”
Jefferies said in its upgrade of STMicroelectronics that the semis company it’s an AI beneficiary.
“We don’t expect further consensus estimate cuts, with growth forecast to accelerate from H2-25 on 1) normalisation post-inventory correction; 2) higher content in iPhone 17s from metasurface-based solutions; and 3) industrial demand recovery.”
Wells raised its price target on the stock to $720 per share from $680.
“We increase our EPS estimates for Goldman Sachs to reflect better expected margins in all three business lines, and achievement of the mid-teens ROE and efficiency target (60%) in 2026, driven by expected pickup in capital markets activity.”
D.A. said the video game maker is best positioned with a slew of attractive releases.
“We believe that TTWO can achieve record Net Bookings in the coming years (FY′26 and FY′27) as it releases some of its highly anticipated titles: Grand Theft Auto 6, Borderlands 4, Mafia: The Old Country, and Judas.”
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