Here are the biggest calls on Wall Street on Tuesday: KeyBanc reiterates Vistra Energy as buy Key says it's bullish on the power generation company. "We are initiating coverage on Vistra Corp. (VST) with an Overweight rating and a $217 price target." TD Cowen reiterates Nvidia as buy The investment bank says it's even more bullish on the stock after meeting with company management. "We had the opportunity to meet with NVIDIA EVP & CFO Colette Kress on our semiconductor, semicap, and networking bus tour. ... .We came away from our meeting incrementally confident in the company's growth prospects for C2026+." Raymond James upgrades CDW as strong buy from outperform Raymond James says it sees several catalysts ahead for the IT services management company. "We are upgrading CDW to Strong Buy from Outperform as we see a period of potential growth acceleration that reminds us of our experience with sizable stock outperformance a decade ago" UBS initiates Live Nation at buy UBS says the company has a "unique platform with multiple growth vectors." "We are initiating Live Nation with a Buy rating and a $164 PT." UBS upgrades Applied Materials to buy from neutral UBS says a "beat and raise should be back" for Applied Materials. "We are upgrading Applied Materials (AMAT) to Buy and raising our price target to $285 from $250, reflecting a significantly more bullish outlook for wafer fab equipment (WFE) in C2026/2027E." Read more. Citigroup upgrades Brinker to buy from neutral The bank admits its upgrade is late but says it sees multiple positive catalysts ahead for the owner of brands like Chili's. "We're admittedly later to a more constructive stance on EAT , but we still see legs to the story predicated on a more favorable cost backdrop unfolding (e.g., Brazil food tariffs dropping), sales remaining strong through peak laps, and sales drivers in place to carry momentum through FY26." Read more. RBC initiates Axis Capital Holdings at outperform RBC says shares of the insurance company have more room to run. "In the last several years, AXIS has undergone a transition under new leadership, shifting from a balanced insurer/reinsurer with volatile results towards a more stable primary specialty P & C underwriting portfolio that has been de-risked from volatility by business line exits and reserving actions." Bank of America upgrades Novartis to buy from neutral Bank of America upgrades the pharmaceutical maker and says Novartis has a robust pipeline. "Upgrade; launch & pipeline path to offset patent cliff." HSBC reiterates Oracle as buy HSBC says it's sticking with Oracle shares. "The bottom line is that Oracle has successfully contracted over USD500bn of RPO (some of it outside OpenAI), with good revenue timing visibility, and is skillfully planning to meet these commitments. ... . And Oracle has been impressively executing to plan and making tremendous gains against these incumbents." Rothschild & Co Redburn downgrades Estee Lauder to sell from neutral The firm says the cosmetic maker's turnaround is taking too long. "Estée Lauder is early in its transformation, and the shares have rerated on hopes of a strong turnaround. Despite improving sales growth, we argue deeper investment is needed, putting the scale of the margin recovery at risk. We downgrade to Sell from Neutral." Goldman Sachs upgrades Imax to neutral from sell Goldman says the big-screen movie company has "growing strategic value." "We upgrade shares of IMAX to Neutral from Sell and increase our price target to $34 from $22, reflecting higher target multiples and the incorporation of an M & A valuation methodology to reflect the growing strategic value of IMAX within the media industry." Goldman Sachs initiates Loar at buy Goldman calls the aerospace and defense company a "high quality compounder." "We think Loar presents the opportunity to invest in a high quality aerospace aftermarket M & A compounder at an early stage in its life cycle, while the business already has one of the best financial profiles in our coverage." Barclays initiates Oshkosh at overweight Barclays says the stock has an undemanding multiple. " Oshkosh (OSK) shares screen attractive into 2026, in our view, due to the combination of a low multiple today and high earnings growth potential in outer-years (2027-2028)." Mizuho reiterates Tesla as outperform Mizuho lowers its price target on the stock but says it's sticking with Tesla. "Lowering TSLA estimates/PT to $475 from $485 with weaker US/China EV markets, potential posing 2026E headwinds for Analog." Bernstein initiates Ermenegildo Zegna at outperform Bernstein says it's bullish on the footwear company. "We are initiating coverage on Zegna with an Outperform rating, PT $13." JPMorgan reiterates Apple as overweight The bank says the iPhone maker is well positioned after a report of Apple's CEO succession planning. "While the change in guard at the helm will drive additional scrutiny from long-term investors who are going to desire similar execution, we believe the elevation of a product/hardware focused executive to the top role is likely to be taken as a sign of further emphasis on innovation and focus towards launching new product categories..." Bernstein reiterates Microsoft as outperform Bernstein says Microsoft is a "major winner" in AI. "In summary, we believe that 1) the demand strength is extremely strong for Azure; 2) Microsoft's ability to convert that demand into revenue is underappreciated and bounded only by datacenter capacity; 3) Microsoft's AI platform capabilities are differentiated and create a major driver for why Azure will be the platform of choice for AI and non-AI workloads;" Argus downgrades Coinbase to neutral from buy The research firm says it's concerned about declining crypto trading volume. "We are lowering our rating on Coinbase Global Inc. to HOLD from BUY. ... .However, we believe that some investors may shy away from crypto asset trading as volatility may be too much to stomach."
