Here are the biggest voices on Wall Street on Wednesday: Wells Fargo upgrades Airbnb from equal weight to overweight Wells said he sees solid innovation in Airbnb’s upgrades. “As the pace of innovation accelerates, the upside option is becoming a reality. More aggressive hotel supply drives and sponsored listings that began in 2027 resulted in +6%/+11% turnover and +7%/+12% EPS vs. Street in 2027/2028, respectively.” Read more BMO opens Toast, Visa and Mastercard with outperformance BMO said Toast, Visa and Mastercard are its “core holdings.” “That said, we see this disconnect as increasingly divorced from fundamentals, and believe this group is (1) more insulated from AI disruption than the narrative suggests; AI is more likely to improve operational efficiency (and revenue growth over time) than replace core economics; and (2) feature a number of idiosyncratic positives.” Wolf reiterated that Netflix is outperforming. Wolf said concerns about user engagement are overdone. “While investors often worry about Netflix losing market share to YouTube, Meta, and TikTok, data shows that Netflix’s core engagement trends are positive. Moreover, Netflix sells a highly differentiated product, and its value is tied indirectly to raw engagement. More is better, though.” Compass Point begins acquisition of SharonAI He said he sees some positive catalysts for companies going forward. “Our investment thesis is based on three points: (1) our first major contract takes SharonAI beyond setup and moves it to contract-backed scale; (2) our Australian capability build gives the company a reliable foundation for deployment; and (3) our partner and funding stack allows us to move SharonAI forward if execution maintains its pace. Evercore ISI Downgrades Frontline and DTH to Equal from Outperform Evercore said it is concerned about war headwinds for tanker owners. “As a result, we downgrade DHT and FRO to inline (from outperform) and NAT to underperform (from inline) based on the scenario detailed above for the potential risks and rewards from here, as well as a progressively negative usage base case other than war-related disruptions.” Ross opens Portillo’s with acquisition Ross said the beef and restaurant hot dog chain is “undervalued.” “We have a buy rating on Portillo (PTLO) and initiate coverage with a price target of $9. We estimate PTLO’s 43-unit Chicagoland core generates $80 million in EBITDA and is worth nearly $1 billion, but is discounted due to previous management’s national expansion failures and macro weakness.” BMO reiterates Alphabet’s outperformance BMO raised its price target to $410 per share from $400. “Top Pick GOOGL continues to expand its leadership position across the AI stack, so we argue that it remains the best way to own AI in our coverage area.” Ross launches Kava with acquisition Ross said he has “long-term confidence” in the restaurant chain company. “We begin coverage on CAVA Group (CAVA) with a Buy rating and a price target of $106.” Susquehanna is positive on Viking Holdings Susquehanna said there is a “growing addressable market” for cruise lines. “We begin coverage on cruise company VIK with a positive rating and $100 price target.” Cantor Fitzgerald starts Tesla overweight Cantor said he is bullish on Tesla’s earnings. “We expect TSLA’s autonomous capabilities to continue to expand to other European cities throughout this year, and we see this as a significant opportunity for TSLA to regain market share in Europe.” Barclays upgrades Qorvo, Skyworks and Seagate from equal weight to overweight. Barclays said the foldable iPhone could be a catalyst for Skyworks and Qorvo. The bank also upgraded Seagate Technology, saying the stock has “value.” “We are upgrading SWKS and QRVO to OW. . . .We see drive names have the most value in the storage/memory hierarchy and see both revenue and multiple expansions.” Raymond James Launches WisdomTree with Outperforming WisdomTree Raymond James said the company offers differentiated services. “We begin coverage of WT with an Outperform rating. The company offers exchange-traded products (ETPs) internationally. It had $150.6 billion in assets under management in the first quarter of ’26 and has grown at a 10x CAGR over the past four years.” Bank of America launches Life 360 with acquisitions Bank of America said the family safety company has a long path to growth. “We begin our coverage of Life360 with a buy rating and a $60 PO. We believe Life360’s leadership in the rapidly growing family safety category, combined with its large and unpenetrated global opportunity, provides a long path toward sustained user growth.” Goldman Sachs Upgrades Genmab from Neutral to Buy Goldman said it expects “key drivers” in upgrading biotech companies going forward, including the company’s lymphoma drug Epkinly. “We upgrade Genmab from Neutral to Buy as our review of key assets Epkinley, Rina-S and Petcemtamab provides a more positive risk/reward outcome through the remainder of the catalyst-rich period in 2026.” Morgan Stanley Upgrades WaterBridge Infrastructure from Equal Weight to Overweight Morgan Stanley said it sees a number of benefits for the water provider to the energy industry. “WBI has delivered the strongest EBITDA growth in our midstream coverage.” UBS upgrades Biogen from neutral to buy. UBS said it expects multiple positive catalysts for Biogen stock. “We are upgrading BIIB to Buy and PT to $225 (from $185) based on our growing confidence that a number of pipeline catalysts will be deployed over the next 12-15 months, pushing the stock higher into 2027…” Read more. Truist upgrades SBA Communications, buys from hold Truist sees “multiple paths upwards” for cell phone tower companies. “We are upgrading SBAC stock to buy (from hold), with a 16% upside potential to $247 PT (from $193).”Moffett Nathanson reiterates that he is neutral on Apple.The investment bank said it was concerned about Apple’s services. “The latest Sensor Tower data shows the first real sign that behavior is changing, so much so that the App Store could become a relative headwind to Apple’s services revenue growth.” Bank of America buys Twilio from underperforming Bank of America, upgrades Bank of America said the company is well positioned for growth. “We upgraded Twilio (TWLO) to Buy (from Underperform) and set a PO price of $190 (from $110) as we see positive changes in its strategic positioning in AI and its fundamentals. Barclays reiterated its overweight rating on NVIDIA, Broadcom, Credo, and Macomb Technology Solutions, saying this group of stocks is its top idea. “…But we think names like NVDA, AVGO, CRDO and MTSI are the most interesting here.”
