Wall Street saw a flurry of analyst rating changes Tuesday, with significant shifts in the tech and biopharmaceutical sectors.
Goldman Sachs initiated coverage on Revolution Medicines with a buy rating. The firm believes the oncology company is well-positioned for growth. Goldman Sachs also initiated coverage on Alkermes with a buy rating, citing its robust pipeline of products.
Barclays initiated Ralliant with an overweight rating, noting its “undemanding” valuation for the precision tech company. Oppenheimer maintained its outperform rating on Nvidia and Broadcom, raising price targets for both.
What are the biggest stock calls on Wall Street today? Analysts made several key rating changes, with a focus on technology and healthcare companies.
Major Tech and Biotech Movers
Goldman Sachs started Revolution Medicines with a buy, targeting $65. They also initiated Alkermes as a buy with a $43 price target, praising its commercial stage and neuropsych assets.
Barclays issued an overweight rating for Ralliant, calling it a “pure play, high-quality asset.” Oppenheimer reiterated outperform ratings for Nvidia (NVDA), raising its price target to $200 from $175, and for Broadcom (AVGO), to $305 from $265.
Deutsche Bank initiated Jazz Pharmaceuticals with a buy, describing it as a “growth story w/ diversified commercial portfolio.” Rosenblatt initiated Gitlab with a buy, seeing significant growth potential from cloud and GenAI applications.
Goldman Sachs also initiated Nutanix with a buy, setting a $95 price target and viewing it as a key modernization play for enterprises.
Shifts in Energy and Other Sectors
JPMorgan downgraded SolarEdge to neutral from overweight, citing the stock’s recent outperformance. In contrast, JPMorgan upgraded California Resources to overweight from neutral, believing the energy company is undervalued.
Wells Fargo reiterated its overweight rating on Microsoft, raising its price target to $600 from $585. They cited strong demand for AI solutions and cost actions supporting growth.
Morgan Stanley downgraded Freeport-McMoRan to equal weight from overweight, seeing few near-term positive catalysts despite exposure to copper prices and a strong gold outlook.
Morgan Stanley also downgraded Ameriprise Financial to underweight from equal weight, attributing the move to slower growth relative to peers.
Consumer and Services Sector Updates
Bank of America reiterated its buy rating on Netflix ahead of earnings. They also reiterated a buy rating on Meta, raising the price target to $775 from $765, calling it the top online ad stock for 2025.
Bank of America reiterated its buy rating on Amazon, noting that initiatives like improved inventory placement likely drove fast shipping speeds and strong consumer satisfaction.
Jefferies downgraded DoorDash to hold from buy, citing valuation concerns after a 45% year-to-date rise. Evercore ISI downgraded Southwest Airlines to in-line from outperform due to valuation expansion.
Bank of America double upgraded National Fuel to buy with a raised price objective of $107, seeing an attractive entry point.
Specialty Sector Calls
Susquehanna initiated Ryder System as positive, expecting earnings growth from cyclical inflection and capital deployment.
Cantor Fitzgerald initiated Oklo with an overweight rating, calling the nuclear power company a market leader.
Truist initiated Globe Life with a buy, describing it as a “durable long-term performer at a discount.”
Monness Crespi Hardt & Co downgraded American Express to neutral from buy, citing valuation after a 45% runup.
- Goldman Sachs initiated Revolution Medicines and Alkermes with buy ratings.
- Oppenheimer raised price targets for Nvidia and Broadcom, reiterating outperform ratings.
- JPMorgan downgraded SolarEdge to neutral while upgrading California Resources to overweight.
- Bank of America reiterated buy ratings on Netflix, Meta, and Amazon.
- Several firms cited valuation as a key factor in their rating changes.
