Here’s the biggest voice on Wall Street Tuesday: Bank of America reinstates Qualcomm as underperform The company reinstated its coverage of Qualcomm, downgrading the stock from neutral to underperform, citing “slow growth.” “We restore coverage of Qualcomm with an underperform rating and $145 PO after a low half-year +17% revenue +2%/+1%/EPS CY25-28E CAGR.” Bank of America Reiterates NVIDIA Acquisition Bank of America said it is very bullish heading into the tech giant’s big conference. “Ahead of flagship GTC conference (March 2016 keynote), we reiterate our buy on NVDA.” Deutsche Bank upgrades Teladoc to Hold from Buy Deutsche Bank said the telemedicine company’s risks and rewards are too attractive to ignore. “We upgrade TDOC stock to Buy from Hold given the attractive valuation, viable strategy for the BetterHelp business, and comparable transactions that point to a roadmap as a possible path forward.” TD Cowen Upgrades Rivian to Hold Buy The company said it is bullish on the debut of Rivian’s R2 model. “We estimate full-fledged R2 demand to be between 212,000 and 335,000 units, suggesting that there is an upside to the 2027 consensus.”Read more. Jefferies begins acquisition of Gilead Sciences Jefferies said the biotech company has long-term upside potential. “We believe GILD is well-positioned and has upside room. 1) There is no significant IP cliff or operating leverage in the near term, and 2) the HIV franchise will maintain a dominant position with a durable tail and follow-on options…” Wolf reiterated Amazon’s outperformance Wolf raised his price target from $250 to $255 per share. “We believe Amazon is benefiting from strong retail growth due to accelerated growth in AWS and margin expansion at the enterprise level.” Rothschild & Company Redburn Upgrades Intuit from Hold to Buy The company described Intuit as a “strong moat” for its products. “Given their deep data and business logic moats built on complex regulatory dependencies, deep domain knowledge, and strong network effects, we believe our core QuickBooks and TurboTax applications are some of the most resilient applications to AI disruption risk within our scope.” B. Riley launches strategy to buy B Riley said the crypto company is attractive. “In addition to attractive dividend yields, we believe investors in both common and preferred securities will benefit from the potential long-term value appreciation exposure of the underlying BTC holdings, a value creation mechanism that MSTR has demonstrated through six years of BTC accumulation.” TD Cowen Downgrades Novo Nordisk from Acquisition to Hold TD Cowen said the biopharmaceutical company no longer has the authority to “respond to calls.” “NVO is an innovative company and has considerable credit for unlocking the potential of the obesity market. However, the business faces significant challenges, first with brand competition and second with semaglutide LOE, and it is no longer clear that the pipeline can meet that demand.” Read more. Morgan Stanley reiterates Microsoft’s overvaluation Morgan Stanley said its suite of Office products shows it is ready for Agentic AI. “Microsoft announced the first Frontier Suite of enterprise AI products, which bundles Microsoft 365 E5 with M365 Copilot and the new Agent 365 (control plane for agents), with general availability scheduled for May 1, 2026, priced at $99 per user per month.” Wedbush reiterated Apple’s superior performance. The company said its stock is a top stock to own right now. “Apple represents another defensive name in this technology industry, as the company’s success with its consumer-driven product portfolio remains strong, given its iPhone 17 upgrade cycle and monster cash flow momentum.” Jefferies launches Lifetime Fitness Jefferies said it is in a great position for a fitness company. “We think Life Time (LTH) is the clear premium winner in the golden age of fitness.” Morgan Stanley upgrades CrowdStrike from equal weight to overweight The firm said the stock is now a top pick. “Favorable AI positioning, growing adoption of emerging modules, and improved endpoint trends elevate CRWD as a durable platform winner.” Read more. Bank of America upgrades Telus to neutral buyout Bank of America says it has more room to play in the Canadian telecom company’s stock. “TELUS is accelerating its plans to address leverage and increase payout ratios,” said Compass Point, which acquired business development company Compass Point and created SLR Investment Corp, a hidden gem. “SLR Investment Corp. serves as a diversified institutional quality platform. We believe its valuation is constrained by the lack of a cushion between estimated NII and current dividends, especially if base rates decline.”
