Here are the biggest calls on Wall Street on Tuesday: JPMorgan initiates Firefly Aerospace at overweight JPMorgan said the company is going to be a "leader" in the space market. "We are initiating coverage of Firefly Aerospace (FLY), a small and mid-size launch provider and spacecraft manufacturer, with an OW rating and a YE26 price target of $55, or 10.5x our 2027 sales of $787m." JPMorgan reiterates Apple as overweight JPMorgan said it is bullish heading into Apple's iPhone event on Sept. 9. "The first public look at the new line up of iPhones, that will be supported by incremental AI features through the year, can still hold some surprises in relation to hardware changes as well as pricing that can, in the current macro, set up for potential upsides, which however will only be modest in magnitude when compared to prior inflections or super cycles." Morgan Stanley reiterates Broadcom as overweight Morgan Stanley raised its price target on Broadcom to $357 per share from $338. "Outside of AI, we expect a cyclical recovery in semis and stable software." Bernstein reiterates Netflix as outperform Bernstein said investors should buy the dip in shares of Netflix. "While near-term questions may persist, Netflix's longer-term growth algorithm — engagement, subs, pricing — remains solid, supporting further operating leverage and margin expansion." Needham initiates WhiteFiber at buy Needham said shares in the computer support services company are compelling. "We initiate on WhiteFiber (WYFI) with a Buy rating & $34 Price Target." Bank of America reiterates Nvidia and Broadcom as buy Bank of America said it is sticking with Nvidia and Broadcom as top ideas. "We continue to favor high quality large caps including: 1) AI data centers ( NVDA , AVGO, AMD), 2) EDA (CDNS), 3) Semicap (LRCX, KLAC), 4) "Analog" industrial/auto (ADI, NXPI)." Deutsche Bank upgrades Ferrari to buy from hold Deutsche Bank said it is bullish on Ferrari's F80 model and that it sees "sustained growth and superior profitability." "We believe that the new F80 will be crucial in achieving adj. EBIT margins above 30%." UBS upgrades Corning to buy from neutral UBS says Corning's growth is "not stopping here." "We upgrade GLW to Buy as we see ongoing AI-driven fiber growth continuing to exceed market expectations, driving sustainable higher growth and re-rating in the stock." Morgan Stanley initiates QXO at overweight Morgan Stanley said in its initiation of QXO , a distributor of roofing, waterproofing and building products formerly named Beacon Building Products, that the company is a "$50B pound gorilla." "An industry ripe for consolidation, a mgmt team with a track record of driving value & very attractive math. Initiate OW." Read more. RBC upgrades American Axle to outperform from sector perform RBC said in its upgrade of American Axle that shares of the auto parts aftermarket company have room to run. "Given its strong exposure to the U.S. auto market, which is experiencing stronger-than-expected vehicle sales demand, peer multiples have re-rated higher." UBS upgrades Hexcel to buy from neutral UBS said the aerospace company is set up for a higher P/E multiple. "We upgrade Hexcel to Buy. Inflecting widebody production in 2026 should drive mid teens revenue growth and 300bps margin expansion for Hexcel and a re-rate in the stock." Bank of America upgrades Affiliated Managers to buy from neutral Bank of America sees robust organic growth for the asset manager. "We upgrade our rating to Buy from Neutral given a stronger net flow outlook driven by AMG' s tax aware (AQR) and private markets affiliates." Wells Fargo upgrades Acuity Brands to overweight from equal weight Wells Fargo said in its upgrade of the lighting company that it sees "higher EPS growth expectations." "We're upgrading AYI from EW to OW." Wells Fargo upgrades Hubbell to overweight from equal weight Wells Fargo said in its upgrade of Hubbell that the electrical equipment company is well positioned for growth. "Utility capex strength on grid hardening, integrating renewables and meeting data center demand are attractive thematic elements. End of destock is cyclically attractive." JPMorgan initiates Heartflow at overweight JPMorgan said the diagnostic software company has a "differentiated" offering. "While investor attention has recently been rightly focused on the foundational hardware, data and infrastructure driving modern artificial intelligence, Heartflow (HTFL) stands out as one of the clearest and most pioneering downstream beneficiaries of the AI revolution in the healthcare sector." Piper Sandler upgrades Performance Foods to overweight from neutral Piper Sandler sees an attractive risk/reward for the food company. "With this note, we are upgrading shares of PFGC to Overweight, from Neutral prior. We particularly like the Risk-Reward here because we can get to reasonably attractive upside for PFGC based solely upon execution of the strategy and the multi-year financial targets that the team recently laid out at its May 2025 Investor Day." Morgan Stanley downgrades Lam Research to underweight from equal weight The firm said in its downgrade of Lam that it sees too many negative catalysts and slowing growth for the semiconductor equipment manufacturer. "Difficult 2026 set up; Downgrade to UW, $92 PT." Goldman Sachs adds Walmart and McDonald's to the conviction buy list Goldman Sachs added both stocks to its conviction buy list. "We add Cadence Design Systems (CDNS), Valero Energy (VLO), McDonald's (MCD) and Walmart (WMT) to the US Conviction List, while removing Viper Energy (VNOM) and Insmed (INSM)." Morgan Stanley initiates Ralliant at overweight Morgan Stanley said in its initiation of Ralliant that shares of the precision technology company are compelling. "After ~2yrs of organic declines, we are seeing signs of [next twelve months] cycle uplift — an attractive opportunity with valuation discounted on trough operations." Baird upgrades Ameresco to outperform from neutral Baird sees a strong demand backdrop for the renewables company. "We are upgrading AMRC to Outperform as we see the business benefiting from strong demand for [energy performance contract] services (particularly for clean energy expertise) and the need for power over the remainder of 2025 and into 2026." UBS initiates Addus HomeCare at buy UBS sees top-line growth for the home health-care company. "We initiate coverage of ADUS with a Buy rating." Morgan Stanley upgrades SailPoint to overweight from equal weight The investment bank said the cybersecurity stock is well positioned. "SailPoint is well-positioned to sustain 20%+ [annual recurring revenue] growth as the company benefits from SaaS migration tailwinds, [and] capitalizes upon an attractive legacy displacement opportunity…" Morgan Stanley upgrades Zscaler to overweight from equal weight Morgan Stanley said in its upgrade of Zscaler that the cybersecurity company has more room to run. "While valuation reset this year has captured near term dislocation, growth adjusted multiple leaves opportunity for upside if growth / margins outperform." Deutsche Bank upgrades Frontier to buy from hold Deutsche Bank upgraded the discount airline following Spirit's restructuring. "We are raising our rating on Frontier's shares (ULCC) from Hold to Buy as we see the low fare carrier as best-positioned to be the biggest beneficiary of Spirit's bankruptcy given their network overlap." Goldman Sachs initiates Porch Group at buy Goldman Sachs said it is bullish on the homeowners services platform. "We initiate coverage of Porch Group (PRCH) with a Buy rating and 12-month price target of $21." Goldman Sachs initiates Brookfield Group at buy Goldman Sachs called the alternative asset management company a "capital compounder at a discount." "We initiate coverage of Brookfield Corporation with a Buy rating, with a $78 12-month price target, ~20% upside."
