Here are the biggest calls on Wall Street on Friday: Goldman Sachs reiterates Netflix as neutral Goldman cuts its price target on the stock to $112 from $130 ahead of earnings later this month. "On a fundamental basis, we expect NFLX's upcoming earnings report to reflect a solid end to 2025 as management continues to execute well against its core areas of strategic focus: 1) original and returning original content as a driver of user engagement and growth; 2) scaling of its offering of live entertainment." Mizuho reiterates Nvidia as outperform Mizuho raises its price target to $275 per share from $245. "Heading into 2026E, we rank NVDA as our TOP PICK in the semiconductor space." Berenberg upgrades CrowdStrike to buy from neutral Berenberg says shares of the cyber giant are attractive. "At current prices, the markets are now implying low double-digit organic revenue growth for CrowdStrike against 15% medium-term organic growth that the group could deliver. We upgrade to Buy (from Hold)." Morgan Stanley reiterates Carvana as buy Morgan Stanley sees an autonomous auto bull case for Carvana shares. "With shares +125% and 4 new dealer acquisitions in 2025, we build a new robotaxi model and increase Bull Case to $750. It's time for investors to consider a TAM beyond Used Cars." UBS upgrades Altria to buy from neutral UBS sees earnings visibility for the tobacco company. "We believe the worst of Altria's cigarette volume decline could be behind, and expect an improvement in 2026; helped partly by better industry volumes, and price investment that could stabilise group volume share." Baird downgrades GE Vernova to neutral from outperform Baird sees "overcapacity headwinds." "While we believe the market remains tight (particularly in the near term), we see these announcements and oversupply fears shifting sentiment for a consensus long. Our long-term outlook for GEV as a leader in both Power and Electrification and viewing GEV as a core holding are unchanged, but we are moving to the sidelines near term." Jefferies upgrades Donaldson to buy from hold Jefferies sees a long runway for growth for the filtration company. " Donaldson shares have rallied 36% YoY (vs. 17% for the S & P 500) on signs of a turn in the mining and non-res construction markets." BMO upgrades Marriott to outperform from market perform BMO likes the company's asset-light model. "We are constructive on lodging for 2026 and believe MAR is well-positioned with a high-end portfolio and potential EBITDA upside from its credit card program renewals." Read more. Goldman Sachs downgrades Mattel to neutral from buy Goldman sees a more balanced risk/reward for Mattel "At 12.0x 2026E EPS we take a more balanced view on risk/reward as we wait for increased clarity on progress against the company's newer growth initiatives, and remain cautious on the macro & consumer backdrop for toys in 2026 given tariffs, price increases, and retailer sentiment still debated as overhangs on top-line recovery and margin trajectory." Seaport upgrades Sphere to buy from neutral Seaport sees strength resulting from Sphere's Wizard of Oz show. "We are returning to our Buy rating on SPHR shares after downgrading to Neutral in December due to a rapid run-up (the downgrade was not due to fundamental reasons, but rather to a notion that the shares needed to digest gains)." UBS upgrades Waste Management to buy from neutral UBS sees a "return to capital returns" for the waste company. "We upgrade WM to Buy from Neutral and raise our PT to $260 from $225." Morgan Stanley initiates Monopar Therapeutics at overweight Morgan Stanley says the biotech company has a transformative platform. "We initiate coverage of Monopar Therapeutics (MNPR) with an Overweight rating and $115 price target. ALXN1840 is a once-daily oral copper-protein-binding therapy (not a traditional chelator) being developed to treat Wilson disease, a rare, progressive genetic disorder that impairs the body's ability to eliminate excess copper." Loop initiates Wingstop at buy Loop sees comp sales rebounding. "We are initiating coverage of WING with a BUY rating and $317 PT." JPMorgan upgrades Southwest to overweight from underweight JPMorgan says the turnaround is happening for Southwest. "Southwest's pivot to an EPS guide is top of mind for us heading into earnings – Share prices and forward-year expectations for most US airlines have returned to early-2025 starting points, an acceptable outcome owing to the tumultuous year that's thankfully behind us." BMO downgrades Adobe to market perform from outperform BMO says shares are likely to remain range-bound. "While Adobe's current valuation is undemanding, we do not envision positive catalysts and think the shares will remain range-bound." Telsey initiates Chipotle at outperform Telsey says Chipotle is firing on all cylinders. "Chipotle remains on track to become a leading global restaurant brand, supported by healthy multi-year unit growth in North America —7,000 long-term target vs. ~4,000 restaurants currently—and potential acceleration in parts of Europe, the Middle East, and Asia." Telsey initiates Cava at outperform Telsey says the stock is a growth story. "In our view , CAVA has a multi-year growth runway as it moves ahead to open 1,000+ restaurants by 2032 vs. ~435 restaurants in 2025—a target we believe is likely to prove conservative and be revised positively." TD Cowen upgrades Solar Edge to buy from hold TD Cowen says the solar company is best positioned for share gains. " SEDG is executing its turnaround with the launch of Nexis and Single SKU supporting margins and market share gains." Morgan Stanley lifts Cleveland-Cliffs to overweight from equal weight Morgan Stanley sees a "transformation opportunity" for the steel metals company. "However, CLF is especially well positioned, in our view, as the only domestic producer capable of true transformation via a potential win-win partnership with POSCO. We believe POSCO has a clear strategic incentive to deepen its presence in the U.S. market, where long-term growth prospects are superior to other geographies, trade protection is likely to persist, and incremental investment in manufacturing and non-residential construction remains supportive Susquehanna upgrades American Airlines to positive from neutral The firm likes the airline's Citi- co-branded credit card deal. "We are upgrading AAL to Positive as we believe its revenue initiatives (e.g., growing premium products and new Citi co-brand deal) and network tactics will help support margin improvement into FY27." JPMorgan upgrades RPM to overweight to neutral RPM says shares of the paint company have plenty more room to run. "RPM's current cost structure reflects acquisition-related outlays, unusual volume weakness, penalties from the early days of a restructuring effort, and over-aggressive investments in growth initiatives." RBC upgrades SiteOne Landscape to outperform from sector perform RBC says the landscape supply company is firing on all cylinders. "We upgrade SITE to Outperform from Sector Perform, while maintaining our PT at $151." Deutsche Bank reiterates Oracle as buy The firm adds Oracle to its first-quarter fresh money best ideas list. "We believe Oracle is poised for significant growth, driven by its leadership in AI cloud infrastructure and the continued, underappreciated strength of its core cloud, apps, and database businesses." RBC initiates Doximity at outperform RBC says the healthcare tech provider is high quality. "We are initiating coverage on Doximity with an Outperform rating and $59 price target and view it as one of the highest quality healthcare tech names in the sector with consistent DD growth and 50+ % margins." KeyBanc initiates Radnet at overweight Key says the diagnostic imaging company has a unique platform. "RDNT's targets for 2025-2028 seem very reasonable (and beatable), especially in the context of better Medicare rates, potential for capital deployment upside, and ramping AI benefits." Wells Fargo upgrades Genius Sports to overweight from equal weight Wells says the sports data tech company is the "best deal in media." "We believe GENI' s unique relationship with the NFL is not properly discounted in the share price, and we expect both multiple and estimates to move higher in the coming quarters/years. Our High-Margin media estimates are above Company guidance and Street expectations." Morgan Stanley cuts Nucor and Steel Dynamics to equal weight from overweight The firm says both steel companies have limited upside. "We downgrade NUE and STLD as both now have balanced risk-rewards with limited upside to our price targets. Elevated steel prices may continue for now, but amid soft demand conditions we see risks to prices slightly skewed to the downside" Seaport upgrades Quanta Services to buy from neutral Seaport says the equipment and construction company will benefit from the "U.S. power supercycle's tight skilled labor market." "We're upgrading PWR from Neutral to Buy, establishing a price target of $503, and designating the stock our top large-cap pick for 2026." TD Cowen initiates Constellation Energy at buy TD Cowen says the company has "scale and potential upside." "We are initiating coverage of CEG with a Buy rating and a $440 price target." Evercore ISI reiterates Apple as outperform Evercore raises its price target on Apple and says more upside ahead. "Net/Net: Sticking with our TOP PICK rating but increasing our price target to $330 (prior $325)..." Mizuho downgrades Zillow to neutral from outperform Mizuho sees too many negative catalysts. "We downgrade shares of Zillow to Neutral (from OP) and reduce our Price Target to $70 (from $100) reflecting increasing uncertainty around (1) the market structure of RE listings distribution, (2) the magnitude of litigation, and (3) potential implications for Zillow's business." Bank of America upgrades FedEx to buy from neutral Bank of America raises its rating on the shipping giant and says it sees network consolidation. "We upgrade our rating on FDX shares to Buy from Neutral and PO to $365 from $315, holding our 17x target multiple onto F2027 EPS estimate." Bank of America initiates Casey's at buy The firm sees upside for the convenience store company. "We initiate on Casey's General Stores ( CASY) with a Buy rating and $700 PO, based on 15.9x '27E EV/EBITDA." Bank of America initiates National Energy Services Reunited as buy Bank of America calls the oilfield services company a "Middle East National Champion." "MENA [Middle East North Africa]-focused NESR poised to gain from regional growth." Truist upgrades Lockheed Martin to buy from hold Truist says the stock's valuation is compelling. "We are upgrading LMT to BUY from HOLD and are raising our PT to $605 (from $500) which represents ~17% upside from current levels." Read more.
