Here are Tuesday's biggest calls on Wall Street: RBC upgrades Wave Life Sciences to outperform from sector perform RBC upgraded Wave Life and said the biotech company showed impressive obesity data in a clinical trial. "Overall, we are impressed by the data and see upside from here given a very large market clear Pharma appetite for orthogonal mechanisms of action and a drug that is showing a very rapid shift in body composition that can be explored as monotherapy, add-on to incretin or in the post incretin settings." BMO initiates Delta and United as outperform BMO said Delta and United are extremely well positioned. "We are launching coverage of the U.S. airline sector including Delta Airlines, DAL ; United Airlines, UAL. " HSBC initiates Micron as buy HSBC said Micron has tech leadership. "We believe Micron will also benefit from a 4-to-5-year-long upcycle, longer than the usual 2- to 3-year cycle historically." Bernstein initiates Nvidia outperform Bernstein said it's a "positive development" if reports are accurate that Nvidia is allowed to supply chips to customers in China. "On Monday President Trump announced that the US will allow NVIDIA to supply their H200 AI part to 'approved customers' in China, confirming news flow from earlier in the day and other market discussion from the past week. ... Nevertheless this would appear to be a positive development." Deutsche Bank reiterates Tesla as buy Deutsche said the stock is a top idea in 2026 and that Tesla can work for investors. "As for Tesla and Rivian, we continue to like the autonomy and AI angles, and believe that if Tesla demonstrates Robotaxi city expansion, Cybercab production and progress on Optimus, the stock can work even if the EV business is weaker." Citizens JMP initiates Galaxy Digital as market outperform The firm said the crypto company is firing on all cylinders. "We initiate coverage of Galaxy Digital ( GLXY) with a Market Outperform rating and $60 price target, representing ~130% potential upside from the current share price." Wolfe upgrades Eaton to outperform from peer perform Wolfe said the electrical company is best positioned. "ETN has struggled since early-2024 as a lack of EPS momentum collided with a richly priced equity. As we flip to '26, we see benefits from Electrical backlog conversion and abating cyclical headwinds. We also see the potential for the multiple to expand from current ~25x." Citi reiterates Apple as buy Citi said its checks show Apple's iPhone 17 supply is still "constrained." The firm also raised its price target on the stock to $330 per share from $315, "After 12 weeks since the launch, we note that: 1) Supply is still constrained especially for base model. There is still around 10 days of wait time for the base model, compared with last year base model delivery time started to be immediately available since week 5; 2) Heading into Black Friday, delivery times in the US ticked up slightly W/W in the week ending 11/28 especially in the Air and Pro model." Goldman Sachs initiates Danaher, Thermo Fisher and Agilent as buy Goldman said all three life sciences companies are well positioned. "We emphasize the importance of end market exposure and highlight our differentiated analysis focused on decomposing 15+ growth drivers to identify cyclical inflection points/leading indicators and our proprietary survey work, which help drive our single stock calls. We are Buy rated on TMO , A and DHR ." Goldman Sachs upgrades Viking Holdings to buy from neutral Goldman said the luxury cruise company has a differentiated offering. "In a world where there has been uncertainty around cruise and the consumer more generally, the benefits of VIK's differentiated geographic exposure and higher-income demographic have offset the choppier broader cruise trend and shone through in recent months, with a nice acceleration in the 2026 pricing curve and comfort in its insulation given its ~LSD% exposure to the Caribbean." Read more. Deutsche Bank reiterates Micron as buy Deutsche raised its price target to $280 per share from $200. "We believe MU is well poised to benefit from the upcoming memory cycle, with HBM [high bandwidth memory] driving structural changes in the industry that could warrant a higher valuation profile." Read more. JPMorgan initiates Vor Bio as overweight JPMorgan said the biotech company has blockbuster potential. "We are initiating on Vor Bio (VOR) with an Overweight rating and December 2026 price target of $43." Barclays initiates Hims & Hers as overweight Barclays initiated Hims & Hers and said the health tech company has a favorable setup. "With the concerns around the sustainability of the company's compounding strategy now better understood, we believe the expectations around the shares have become more reasonable. Looking forward to F26, we believe the recent addition of other growth drivers help create a more favorable setup for durable growth." RBC upgrades Colgate-Palmolive to outperform from sector perform RBC said investors should buy the dip. "Our call on CL is straightforward. Shares have come under pressure as slowing global category growth has weighed on CL's prospects ending their run of 24 consecutive quarters of organic sales at or above their LT algo." Barclays initiates Amer Sports as overweight Barclays said the sports company is best positioned. "We view AS as a top- and bottom-line compounder over a multi-year horizon." RBC upgrades RPM to outperform from sector perform RBC said buy the dip in the specialty coatings and sealers company. "We think RPM shares have hit a bottom based on: 1) Weak DIY but infrastructure exposure should sustain growth above peers; 2) Investments in SG & A are depressing NT margins but should drive future share gains/growth." Needham reiterates Netflix as buy Needham said it doesn't think Netflix needs Warner Bros. Discovery. "NFLX buying WBD would put $83B of additional value at risk of being disrupted by GenAI. Without WBD, NFLX is more global, more nimble, more tech-first, and has more flexibility with the Hollywood unions (called Guilds)." UBS initiates NRG Energy as buy UBS said it sees more upside in shares of the energy company. "We initiate coverage on NRG with a Buy rating and a $211 price target, reflecting a compelling combination of free cash flow strength, strategic positioning and differentiated growth drivers." Rosenblatt upgrades Synopsys to buy from neutral Rosenblatt upgraded the stock ahead of earnings on Dec. 10. "We expect an in-line quarter for Synopsys following the Q3 miss and guidance cut, which was largely driven by IP segment issues and the China market, both of which we expect to see improvements in over the next couple of quarters." Citi initiates Ligand Pharmaceuticals as buy Citi called the biopharma company a "goldilocks pick." "We are initiating coverage of LGND with a Buy/High Risk rating and $270 TP."
