Here are the biggest voices on Wall Street on Wednesday: Goldman Sachs Reiterates Broadcom Acquisition Ahead of Broadcom’s earnings, Goldman raised its price target from $480 to $500 per share. “We believe expectations are slightly elevated heading into print as capital expenditure spending patterns across key customer accounts remain strong.” Oppenheimer Upgrades Rubric to Better Than Performance The company says it recognizes the strength of its product. “We are upgrading Rubrik (RBRK) to Outperform (from Perform) and establishing $85 PT assuming strong checks from value-added resellers.” Baird says the risks and rewards are too attractive to ignore, leading Pinnacle Financial to start outperforming Baird. “We are initiating coverage on PNFP with an Outperform rating and a $115 price target.” William Blair Reiterates Nvidia Outperform The company said it was bullish on Nvidia’s earnings after Wednesday’s bell. “NVIDIA expects to report another beat-and-raise quarter this week, with second-quarter revenue guidance likely to exceed $90 billion.” Needham formed QuickLogic Corporation to acquire Needham, who said the semiconductor company had earnings upside. “We begin coverage on QuickLogic with a buy rating and establish a $22 PT.” UBS upgrades Packaging Corp. to buy from neutral UBS, insists it has pricing rights. “We upgrade PKG from Neutral to Buy as we expect June price increases of $50/ton to continue amid improving demand and tight supply. High capacity utilization and pre-existing capacity reductions (10% of the industry) support pricing power with the potential for up to $290 million (half of 2026) in annual EBITDA.”Jeffries upgrades CH Robinson from Hold to Buy Jefferies says carriers have balance sheet discretion. “Following our recent headquarters visit, we are upgrading CHRW to Buy, which significantly strengthens our conviction across three key dimensions: (1) technology and productivity transformations that we believe are still in their infancy; (2) a post-Montgomery regulatory environment that structurally favors large brokers; and (3) a balance sheet that positions CHRW as a natural consolidator.” TD Cowen is upgrading Ermenegildo Zegna from hold to buy, TD Cowen said. The luxury retailer is firing on all cylinders and sees “improving fundamentals, supported by Zegna’s durable vertically integrated core and a clearer path to stabilization for Tom Ford and Tom Brown.” Deutsche Bank upgrades Humana to hold-from-buy from Germany Deutsche Bank says there’s still time to buy a stake in the healthcare company. “We upgrade shares of HUM, CNC, and ELV to Buy, and downgrade CI stock to Hold.” Citi upgrades California Resources and Ovintiv to Buy from Neutral. Citi says oil and gas exploration companies still have plenty of room to operate. “Montney’s acquisition of peer Arc Resources should offset this by drawing further attention to OVV’s position, while also potentially facilitating capital flows to OVV.” There are headwinds to AECO’s pricing. … Upgrading CRC — Although CRC’s share price has declined around earnings, we see this as an opportunity as the value of its core O&G business has improved significantly for a variety of reasons…” Raymond James upgrades SM Energy, from underperformance to outperformance Raymond James said the energy company is a beneficiary of the Iran war. “To our coverage, SM has been one of the biggest beneficiaries of the post-Iran war oil shift, and despite the stock price decline, our bullish oil outlook relative to the current strip still offers ample upside potential.” Read more Bank of America reiterates Alphabet as overweight The company said Alphabet is leading the “next wave of AI adoption” after attending its developer conference. “At I/O 2026, Alphabet announced a wide range of new AI products and highlighted its acceleration of AI innovation.” “In previous years, Google has been playing catch-up in AI technology, but this year’s product launches leveraged Google’s powerful Gemini model capabilities and demonstrated increased leadership in shaping the consumer AI experience.” Wells Fargo reiterates Marvell is overweight, and Wells raised its price target ahead of next week’s earnings. “With MRVL’s CY27 P/E above 30x, the setup for F1Q27 print (5/26) is certainly tough, but we see AWS Trainium” continued momentum in deployments, XPU attach ramps, and interconnects is enough upside to support OW valuation. Baird reiterated that Amazon is outperforming and is bullish ahead of Prime Day in June, Baird said. “As previously announced, Amazon plans to hold Prime Day 2026 across key markets in June, compared to July in most previous years.” Based on our analysis of historical Prime Day revenue trends, we believe the current sell-side consensus may be underestimating the “shift” in revenue from last July’s event to this year’s second quarter. “In our view, the most attractive aspect of Casey’s is its highly consistent and inherently defensive model, which increases the company’s credibility as a best-in-class operator.” Wolff said Five Below’s results showed that the company’s dumpling event last weekend was a huge success. “On Saturday, FIVE held its first-ever ‘Golden Ticket’ dumpling event, featuring a $1,000 limited edition Golden Dumpling gift card. Maxim upgrades Gilead from neutral to acquirer,” Wolf said, reiterating Five Below’s accomplishments. Maxim believes there is more room for growth and says investors should buy on the weak. “GILD stock has fallen from all-time highs and now trades at a non-GAAP EPS (pre-acquisition) forward P/E of 15.1x mid-2026, in line with biopharmaceuticals.” ”
