Here are the biggest calls on Wall Street on Wednesday: Morgan Stanley reiterates Amazon as overweight Morgan Stanley says the stock remains a top idea and AI winner. " AMZN is Top Pick as AWS/Retail both under-appreciated GenAI winners. AWS seems set to further accelerate as capex yield framework shows how it could grow 30%+ in '26/'27. We also discuss why AMZN is an agentic winner with leverage and why partnerships would be positive/ manageable" Williams Trading downgrades Crocs to sell from hold Williams says demand remains weak. "Downgrading CROX to Sell, raising estimates, and raising PT from $75 to $84. The underlying demand for Crocs and HEYDUDE continues to erode in the U.S., and it appears as if CROX is beginning, once again, to step on store expansion to drive its global DTC business, and offset weak wholesale demand." Citizens upgrades Rush Street Interactive to market outperform from market perform Citizens calls the gaming company a "beat and raise story." "Rush Street management continues to prove that it has built one of the most durable business models in the online gaming space, driven by a favorable mix (iGaming) and geographic footprint." Wells Fargo reiterates Nvidia as overweight Wells says investors should buy the weakness ahead of earnings next week. "We recommend buying NVDA ahead of F4Q26 print (2/25). Increase estimates; expect very strong demand/ramp commentary and increased confidence in GPU spend dominance. With shares trading at ~19x CY27 P/E, we think NT sentiment is likely bottoming." Deutsche Bank reiterates Nvidia as hold Deutsche is sticking with its hold rating on Nvidia ahead of earnings next week. "Additionally, we see the current valuation as the most appealing in quite some time but are less clear as to whether near term strength would come as a surprise to investors and/or overcome the sector wide concern weighing on AI-related semi stocks. Consequently, we maintain our Hold rating, albeit with the risk/reward into earnings incrementally more positive than in recent quarters." Baird upgrades Itron to outperform from neutral Baird says investors should buy the dip in the tech company. "We are buyers of ITRI following its Q4 report which outlined a compelling multi-year opportunity regarding the company's positioning in utilities' modernization of the grid." Mizuho upgrades Palantir to outperform from neutral Mizuho sees "spectacular growth." " PLTR is in a category of one, delivering total revenue growth, acceleration, and margin expansion at scale that is unlike anything else in software." Read more. Roth initiates Modine Manufacturing at buy Roth says the industrial company is firing on all cylinders. " Modine has built through both organic means and M & A a unique one-stop shop for thermal solutions used for data center cooling technologies, specialty HVAC and refrigeration." Compass Point initiates Nebius Group at buy Compass Point says the AI infrastructure company has a differentiated offering. "Headquartered in Amsterdam, Nebius is a full-stack AI infrastructure company that sells GPU compute and its associated software stack through an AI cloud platform built for both training and inference." Read more. TD Cowen upgrades Icon to buy from hold TD Cowen says concerns over the clinical research company's accounting practices are overdone. "We upgrade shares of ICLR to Buy from Hold, as we believe share reaction to ICLR's investigation (down 33%) into accounting practices overstates the anticipated impact to earnings." Piper Sandler upgrades Goosehead Insurance to overweight from neutral Piper upgraded the insurance stock following earnings. "We are upgrading GSHD to Overweight from Neutral following its 4Q25 results." Baird initiates CSW Industries at outperform Baird says it sees "growth opportunities" for the diversified industrials company. "We're initiating on CSW with an Outperform rating. CSW has an established track record of value creation." Citigroup upgrades StubHub to neutral from sell Citi says the headwinds are now priced in for the ticket company. "We initiated on StubHub with a Sell/High Risk rating with a bearish view on 2026 EBITDA estimates. Over the past month, the stock has fallen ~45%. We attribute the weakness primarily to AI fears and heightened regulatory concerns. We believe regulatory headwinds are now largely incorporated in the prevailing equity value." Morgan Stanley reiterates Palo Alto Networks as overweight Morgan Stanley says shareholders should buy any weakness in Palo Alto shares following earnings. The firm lowered its price target to $223 per share from $245. "Company presented a compelling argument for AI as a tailwind for cyber, which given competitive positioning and growing platform from M & A, leave us firmly OW and buyers of weakness." Rosenblatt upgrades Cadence Design Systems to buy from neutral Rosenblatt upgraded the computer software company following earnings and says Cadence shares have plenty more room to run. "Given the stock's pullback since September, our view that AI is a tailwind and not a threat for EDA, and now a 27% return to our target price, we are upgrading our rating back to Buy." Baird reiterates First Solar as outperform Baird says Tesla remains a threat to First Solar but that it's sticking with the stock ahead of earnings next week. "The threat of competition in the US from TSLA - these plans are real but will take time."
