Here are the biggest calls on Wall Street on Wednesday: Daiwa reiterates Apple as outperform The Japanese bank lowered its price target on the stock to $230 per share from $240, but says it is standing by Apple. "We see AI as being the key to future growth and are waiting for more Apple Intelligence features which will create excitement in users. Eventually, we see a multi-year phone and PC upgrade cycle and the shares as a core holding." Bank of America reiterates Advanced Micro Devices as buy Bank of America sees "multiple growth cylinders" for the stock following earnings. "We rate AMD Buy. It serves a multi-hundred billion addressable market opportunity in PC, server, high-end gaming, deep-learning and related markets where AMD has less than 30% value share currently." Read more. Oppenheimer upgrades RingCentral to outperform from perform Oppenheimer says the cloud-based communications software company is defensive. "RNG reported solid 2Q results with beats across the board, and mgmt modestly raised its FY25 EPS and FCF guidance 100-150bps. After two years at Perform, we are upgrading RNG to Outperform with a $35 PT." Baird upgrades Monday.com to outperform from neutral Baird says investors should buy the weakness in shares of the project management software company. "We are upgrading MNDY to Outperform as we see the company leveraging its early [collaborative work management] lead to execute on this opportunity." Baird upgrades Aramark to outperform from neutral Baird said in its upgrade of Aramark that investors should put the hospitality company in the "compounder/grinder bucket." "Upgrading to Outperform. Elevated expectations reset lower with the F3Q25 report as underlying revenue momentum in the business failed to instill confidence in guidance achievement." JPMorgan upgrades Driven Brands to overweight from neutral JPMorgan said in its upgrade of the automotive services company that Driven has defensive attributes. "Our upgrade is predicated on defensive demand in light of heightened macro uncertainty as tariffs hit consumers' wallets in 2H…" Barclays raises Archer-Daniels-Midland to equal weight from underweight Barclays says it sees several positive catalysts ahead for the food processor. "We upgrade ADM to EW and lift our PT to $61 (from UW and prior PT $50) due to improvements in Nutrition and a recovering crush outlook." Morgan Stanley reiterates Home Depot and Lowe's as overweight Morgan Stanley says both home improvement stocks remain "compelling." "We stay Overweight both HD & LOW given compelling cyclical risk/reward, and we prefer HD for its greater share gain potential." Jefferies upgrades Leidos Holdings to buy from hold Jefferies said in its upgrade of Leidos that it is bullish on the aerospace engineering company. "Our Buy rating is based on 1) Solid organic growth, in-line or above peers amid budget uncertainty; 2) Planned pivot away from lower margin work weighs on out year growth; and 3) ability to re-rate higher on above market Defense Systems growth, potentially unlocking Defense Tech-type multiples." Loop reiterates Super Micro as buy Loop says it is sticking with Super Micro shares following earnings on Tuesday. "We reiterate our Buy rating while lowering our PT to $60 from $70." Stephens upgrades BellRing Brands to overweight from equal weight Stephens says investors should buy the dip in the food nutrition company. "BRBR posted 3QF25 results with sales and EBITDA ahead of expectations. However, the stock saw a significant sell-off post-print driven by fears of increasing competitive threats weighing on top-line trends." Canaccord reiterates Rivian as buy Canaccord says it is sticking with shares o f Rivian following Tuesday's earnings report. "We remain patient in our BUY rating. Yes, earnings revisions for some time have been frustrating. But, are we approaching the height of our frustration? Reg credits are now gone, and earnings revisions may soon be nearing bottom." Citizens JMP downgrades Snap to market perform from outperform The bank downgraded the stock following Tuesday's earnings report. "We are downgrading Snap to Market Perform from Market Outperform following 2Q25 earnings as advertising revenue grew just 4% Y/Y in 2Q25, suggesting share loss to other scaled ad platforms, while North American [daily active users] fell 1M Q/Q for the second consecutive quarter." RBC upgrades Hologic to outperform from sector perform RBC says the health tech company is poised for a "re-rating." "We are upgrading shares of HOLX to Outperform and raising our PT to $87 (from $72) as we think FY'26 will be the start of a sustainable period of [mid single digit] revenue growth, leading to a multiple re-rating." Read more. Bank of America adds Progressive to the US1 list The firm added the auto insurance company to its top picks list. "We are adding Progressive Corp. (PGR) to the US 1 List." Deutsche Bank reiterates Microsoft as buy The German bank says the tech giant is well positioned for artificial intelligence. "Overall, Microsoft has noted that leaning in on AI among other things it is baking in double-digit productivity gains across most of its business processes and contributing to stronger operating margins."
