Here are the loudest voices on Wall Street on Wednesday: Oppenheimer reiterates Nvidia’s outperformance Oppenheimer said he is bullish on the company ahead of next week’s earnings report. “We expect NVDA CY26 FCF to approach $200 billion in cash return spread between share buybacks and seeding the emerging AI ecosystem. If half of the FCF were used for dividends, the yield would be close to 2.5%. Again, $265 above target.” Daiwa reiterates that Apple is outperforming Daiwa raised its price target from $310 to $325 per share. “Apple’s biggest strength is its huge ecosystem. We continue to view the stock as a core holding. 2HCY26’s concerns are managing the memory situation and migration, which could cause disruption in the first to second quarters.” UBS upgrades KE Holdings to neutral buy from UBS, says Chinese online housing platform’s stock has plenty of upside. “As the market recovery will be led by secondary markets and tier 1 cities, we believe BEKE will be the biggest beneficiary due to its agency business in both tier 1 and tier 2 markets and high exposure to tier 1 cities.” Argus upgrades Wendy’s to neutral buyout Argus said it would buy the shares ahead of reports of the company going private. “We are raising Wendy’s rating from hold to buy. The stock price rose sharply on May 12 on news that the restaurant chain could be taken private,” the Financial Times reports. Trian Fund Management is in the process of forming a consortium to take Wendy’s private, with Trian and his co-founders owning approximately 40% of Wen’s shares. Trust said the company is firing on all cylinders. “We are upgrading ST for four reasons: (1) the core automotive business is stable, (2) the new management team has demonstrated the ability to under-promise and over-deliver, (3) the valuation of 10.9x P/E is reasonable/low for the core business and does not take into account the outsized growth drivers; (4) We expect ST’s increased AI/DC exposure to drive both fundamentals and valuation upside.” Bank of America Reiterates Micron Technology Acquisition Bank of America raises price target to $950 from $500. “Despite the recent surge in memory stocks, we expect memory demand to continue to grow faster than supply due to AI, memory prices to remain broadly stable (supply-demand ratio is not expected to exceed 110%), and memory (MU) revenues to remain relatively stable through CY28.” Bank of America reiterates buy on Nvidia The bank raised its price target on the stock. “NVDA: Top Sector Appointment, Expected / PO raised from $300 to $320. Future catalysts include earnings, Computex exhibition (possible new CPU launch), Vera Rubin launch, and second-half cash return…” UBS upgrades Concept Therapeutics to neutral UBS acquisition, says biotech company still has room to run. “We upgrade CORT to Buy and raise PT to $72 (previously Neutral/$44).” KeyBanc upgrades Zebra Technologies from sector weight to overweight. KeyBanc said it is considering “cost execution.” “Following ZBRA’s strong Q1 2026 performance, we upgrade the stock from SW to OW with a price target of $305.” Read more. KBW opens CoinShares with outperformance KBW says the digital asset firm is a “high-margin platform.” “CoinShare s is a global asset management company that provides investors with exposure to digital assets and facilitates their adoption.” Daiwa Downgrades Advanced Micro Devices from Buy to Outperform Daiwa downgraded the stock based on valuation. “Most semi-names, not just AMD, have skyrocketed over the past 30 to 45 days. What’s changed is the outperformance and strong guidance. ➢ However, given the valuation, we’re lowering our rating from 1/buy to 2/buy.” Bank of America upgrades Akamai to neutral buyout Bank of America said it’s “seeing a shift” in the stock price. “We upgrade Akamai to Buy and raise PO from $130 to $175, representing 18% upside potential. The narrative has moved from traditional delivery networks to trusted AI infrastructure platforms. Large cloud infrastructure wins, including a $1.8 billion, 7-year contract, are more than just stories, they demonstrate real demand for decentralized AI.” Citigroup, NextDecade Citigroup said the LNG company has a lot of upside potential. “We begin coverage of NEXT with a TP of $11 and a Buy rating.” Prime Minister William Blair upgrades Vestis to outperform market performance The company said in upgrading Vestis that the uniform company is a story of rebirth. “Since new management took over almost a year ago, the company has focused on correcting what it can control. This includes cutting low-margin businesses, halting retention declines in businesses it wants to keep, and aggressively focusing on improving core operations at the branch and corporate level.” Ross begins acquisition of exotic machinery Ross said the drone company is “well positioned.” “We expect UMAC to supply a healthy component share to DoW’s $1 billion Drone Dominance Program. FAA Part 135 certification is a good start for deliveries, and we are aiming for Beyond Visual Line of Sight (BVLOS) certification in 2026. As a diversified supplier and low-cost producer, UMAC is well-positioned.” Read more. Rothschild & Co. Redburn begins acquisition of Heiko Rothschild said the company has a “proven track record.” “History teaches us that when airline margins deteriorate, HEICO tends to outperform the civil aerospace aftermarket, but consensus estimates suggest otherwise.” RBC Upgrades Mosaic to Outperform Sector Performance The company said in upgrading Mosaic that while it may be premature, the stock cannot be ignored. “We believe the current decline in phosphate margins is unsustainable due to the closure of the Strait of Hormuz and limited sulfur supplies. We expect 2026 to remain volatile and uncertain due to the impact of the Iran war, and while it may still be premature, we see great value and strongly believe phosphate margins will eventually recover.” Citi upgrades Venture Global to buy from neutral LNG sources Upgraded inventory. “We are upgrading VG to Buy and increasing TP from $12/sh to $17/sh.” Stifel Downgrades Under Armor, From Acquisition to Hold Stifel said he expects “the turnaround will take time.” “We downgrade UAA stock from buy to hold with a 12-month price target of $6. Our updated view considers a more challenging risk/reward profile related to 1) higher-than-previously expected SG&A expenses, 2) the impact on normalization of the net debt position, and 3) continued challenges to top-line growth.” Morgan Stanley Reiterates Amazon with Overweight Morgan Stanley is bullish on Amazon’s ability to increase delivery speed. “AMZN will expand 30-minute delivery service to tens of millions of Americans by the end of 2026. This will help AMZN rapidly expand into the $1.7 trillion grocery/consumer goods market and is a forward-looking agency investment (infrastructure and inventory) that speaks to the increasing competition in DASH/UBER/CART/grocery stores.” Stock price after an analyst meeting where Guggenheim upgraded MasTec and made it available for purchase from neutral Guggenheim. “We upgrade MTZ stock from Neutral to Buy and set a $480 price target. The company provided a multi-year outlook at yesterday’s analyst meeting, and we believe that outlook is reasonable, or perhaps even conservative.” Compass Point Upgrades Optimum Bank Holdings from Neutral to Buy Compass Point upgraded Optimum Bank following the results. “For investors who can take a position in a company with limited free float, we are increasing our price target from $6.00 to $6.50 and raising our rating from Neutral to Buy.” BTIG begins acquisition of BioAge Labs BTIG said the biopharmaceutical company is well positioned. “BioAge Labs is a clinical-stage biopharmaceutical company focused on treating diseases associated with human aging. BioAge mines human datasets to identify proteins and genetic components whose early adult trajectories predict lifetime outcomes.” Leerink upgrades Johnson & Johnson to above-market performance Leerink said it expects “accretive revenue.” “We are upgrading JNJ stock from MP to OP and increasing PT from $252 (20.0x 27E’s old EPS of $12.62) to $265 (21.0x 27E’s new EPS of $12.61), which represents an 18% increase over the March 12 closing price of $224.” Oppenheimer to outperform market Integer Oppenheimer has upgraded its medical device contract development company, saying the company has attractive risks and rewards. “Upgrade your ITGR from Performance to Outperform for $115 PT.”
