Here are the biggest calls on Wall Street on Friday: DA Davidson downgrades Amazon to neutral from buy DA says it thinks Amazon Web Services is losing share. "With the context of results from Microsoft and Google, we see AWS continuing to lose its lead and now scrambling to catch up through escalating investment." Read more. BTIG initiates Merit Medical as buy BTIG called the medical device company "high quality." " Merit Medical Systems is a global medical device company with a comprehensive portfolio of products that are used across a broad range of interventional procedures." UBS initiates JBS as buy UBS says the Brazilian meat company is poised for a re-rating. "We are initiating on JBS with a Buy rating and US$19.5/sh price target, which implies 23% upside to the stock. RBC reiterates Nvidia, Marvell Technology and Micron as outperform RBC says demand remains strong for Nvidia, Marvell and Micron. "AI semi demand remains strong and industry-wide supply constraints are giving chip suppliers 12-18 month visibility. Valuations appear to be discounting a potential slowdown to an extent although sentiment risk remains. We continue to maintain a balanced stance with positive ratings on NVDA, MU, MRVL , ALAB, ARM...." Goldman Sachs initiates Biohaven as buy Goldman says the biotech company is "best-in-class." "We initiate coverage on BHVN with a Buy rating and a 12-month price target of $23. BHVN is a clinical-stage biotechnology company with an extensive pipeline of assets, focused on late-stage programs in I & I, epilepsy, and obesity." Barclays downgrades Canada Goose to underweight from equal weight Barclays says the outerwear company has profitability issues. "We downgrade GOOS shares as we believe profitability will remain a challenge and visibility on profit drivers is limited." Goldman Sachs upgrades Vistra to buy from neutral Goldman says investors should buy the dip in the nuclear energy company. "We see potential upside of 3-9% to our 2028 EBITDA if Vistra contracts the rest of its nuclear generation in a similar price range." Read more. Jefferies reiterates Palantir as underperform Jefferies says it sees more downside than upside for the stock. "The stock has been in freefall, down 27% YTD. Strong execution and an inflecting growth story have enabled PLTR to trade as high as 73x CY27 rev in Nov '25, but the multiple has since compressed by 42 turns to 31x, and we see more multiple downside as it continues to trade at nearly twice the multiple of the next most expensive name in software." Oppenheimer upgrades Roku to outperform from perform Oppenheimer says Roku shares are too attractive to ignore at current levels. "Following 25% pullback from 52-week high (NASDAQ -4%), we are upgrading to Outperform (from Perform) and establishing a $105 price target." Deutsche Bank upgrades Ares Management to buy from hold Deutsche says investors should buy the weakness in the asset manager. "We are upgrading Ares (ARES) from Hold to Buy post 4Q25 earnings." Citi upgrades Estee Lauder to buy from neutral Citi says buy the dip after the selloff. "We upgrade Estée Lauder (EL) to Buy, as we view the large -19% stock reaction as a buying opportunity considering an improving fundamental outlook since the implementation of the Beauty Reimagined strategy under CEO Stéphane de La Faverie." Deutsche Bank downgrades Old Dominion to hold from buy Deutsche says most of the good news is already priced in right now. "Rather, we think following their recent 60%+ run since bottoming in November 2025, ODFL shares are already discounting most of the 70%+ potential improvement we expect management to generate in cycle-over-cycle earnings. Therefore, to drive incremental outperformance would require a re-rating on such significant earnings growth." UBS downgrades Norfolk Southern to hold from buy UBS says it sees eps headwinds ahead. "We are reducing our rating on NSC from Buy to Neutral because NSC's 4Q and 2026 commentary point to weaker yields and operating ratio (OR) versus our prior assumptions." Cantor Fitzgerald initiates Jumia Technologies as overweight Cantor says the Africa marketplace company is best positioned for share gains. "After a painful transformation over the past three years from a money-losing do-it-all company to a lean and focused eCommerce business, JMIA i s now well-positioned to emerge as the Amazon of Africa, in our opinion. The path ahead has plenty of risks, but we think JMIA can deliver strong returns with steady execution over the next decade." Bank of America reiterates Amazon as buy The firm says it's sticking with Amazon following earnings. "We reiterate our Buy rating but lower our PO to $275 (from $286) on lower AWS multiple reflecting more potential margin uncertainty, and sector comp. multiple compression." Read more. Stephens upgrades Boot Barn to overweight from equal weight Stephens upgraded the stock following earnings and says it's a tax refund beneficiary. " BOOT has a well-defined, proven earnings growth algo with a mgt. team that is confident, in control and pulling the right levers." Morgan Stanley reiterates Reddit as overweight The firm lowered its price target to $240 per share from $265, but says its sticking with Reddit following earnings. "We raise our '26/'27 rev by 1%/1% as RDDT breadth and depth of advertiser engagement speaks to continued long growth runway with strong pipeline of initiatives into '26 but user onboarding progress key to multiple/LT monetization debate." Deutsche Bank reiterates Roblox as buy Deutsche says Roblox is firing on all cylinders following earnings. "The momentum at Roblox continued, with the company reporting better-than- expected 4Q25 results, FY26 guidance was much better than feared, and notably does not include the benefit from any viral hits which suggests it could act as a bookings floor." BTIG reiterates Strategy as buy The firm urged investors to remain calm in the face of bitcoin volatility for the crypto company. "We think it is important for investors to understand MSTR's liabilities are well overcollateralized and that the company is more than capable of absorbing volatile bitcoin prices."
