Here are the biggest calls on Wall Street on Friday: Wolfe reiterates Nvidia as outperform Wolfe says Nvidia is "too cheap to ignore." "With NVDA stock at just 13x our bull case EPS, we think the stock is too cheap to ignore - and it remains our favorite idea." HSBC upgrades Arm to buy from reduce HSBC says Arm is well positioned for AI. "Upgrade to Buy (from Reduce) on game-changing AI CPU narrative: We believe Arm is now firmly in the middle of a transition from being a smartphone dependent semi- IP play, into a major AI server CPU beneficiary that remains undervalued by the market" Morgan Stanley reiterates Apple as overweight Morgan Stanley says its checks show March App Store revenue is decelerating for Apple. "App Store rev growth is decelerating in C1Q to +6% Y/Y, resulting in net revs of +7% Y/Y QTD, 1 point below our +8% Y/Y. Separately, another qtr of above-seasonal iPhone builds in the Jun qtr supports our well-above-Street iPhone forecasts." Jefferies upgrades Oneok to buy from hold Jefferies says the midstream company has "tangible upside." "OKE equity screens complacent on right tail risk as Iran duration raises the odds of a higher structural crude risk premium." Barclays reiterates Rivian as equal weight Barclays says it's bullish on the company's partnership with Uber. "Yesterday RIVN announced an up to $1.25bn investment from Uber and plans to deploy up to 50k fully autonomous R2 robotaxis on Uber's network through 2031. We view the announcement positively, with the partnership arguably a validation of RIVN AV hardware/software capabilities outlined at the December AV day, with incremental capital also always appreciated." Barclays reiterates Tesla as equal weight Barclays says it's optimistic about Tesla's foray into chips. "Yet with Tesla now in a new phase of growth driven by efforts in physical AI (autonomous driving, humanoid robots), we see a new pillar of Tesla's growth strategy for the coming decade – chips." Oppenheimer upgrades Freshpet to outperform from perform Oppenheimer says it sees an attractive risk/reward for the pet health and food company. "We are upgrading FRPT shares to Outperform from Perform and installing an $80 PT." Mizuho upgrades Chipotle to outperform from neutral Mizuho says a "comp inflection [is] shaping up" for Chipotle . "We see a comp inflection near-term along with incremental margin visibility, with Q1 earnings/Q2-to-date commentary a potential positive catalyst." Jefferies upgrades Mettler-Toledo to buy from hold Jefferies says the company faces "minimal" disruption from AI and the Middle East. "We upgrade shares from Hold to Buy as MTD enters 2026 from a position of strength, with a reinforced track record of executing through noise (e.g. tariffs)." HSBC upgrades Chevron to buy from hold HSBC says Chevron is well positioned. "We upgrade Chevron from Hold to Buy with a raised TP of USD215. Chevron's shares have modestly lagged Exxon y-t-d despite a much lower exposure to the broader Middle East region." Read more. JPMorgan initiates OGE Energy Corp as overweight JPMorgan says the electric utility company has upside potential. "We initiate coverage of OGE Energy Corp (OGE) with an Overweight rating and $52 YE 2026 price target." Wells Fargo upgrades Accelerant to overweight from equal weight The firm said in its upgrade of Accelerant t hat AI fears are overdone for the insurance broker. "With shares at 6.8x 2027 EBITDA and pulling back this year, we raise our rating to Overweight. Company should be insulated to a good degree from AI risk and is stepping into buyback, while 2026 EBITDA guide was raised to $275m (from $269m)." JPMorgan upgrades Air Products to overweight from neutral JPMorgan says the company has stable EPS growth. "We think Air Products is probably a better relative share price performer in an economic environment where the risks of economic deceleration, higher inflation, and upward interest rate movements have increased because of the stability of its EPS growth." Read more. Texas Capital initiates Strategy at buy The firm says it sees an attractive entry point. "Strategy was the founder and is the clear leader in digital asset treasury (DAT) management, offering investors differentiated digital equity and credit investments." Wells Fargo upgrades AptarGroup to overweight from equal weight Wells says it likes the drug dispensing company's balance sheet. "For ATR, its best-in-class BS [balance sheet] and heavy exposure to the defensive pharma sector is key during periods of uncertainty." Oppenheimer upgrades FIGS to outperform from perform Oppenheimer says it's bullish on shares of the medical wear company. "We upgrade Figs (FIGS) to Outperform and establish a 12-18 month price target of $22 for shares. Canaccord initiates Perion Network at buy Canaccord says the ad media has a compelling risk/reward. "With two decades of operating history, Perion has demonstrated a clear willingness to reinvent itself, and it is currently in the midst of what may be its most compelling strategic pivot yet." TD Cowen initiates Ceva at buy TD Cowen says the semis company is firing on all cylinders. "We see CEVA nearing an inflection point as it pivots from legacy handset [digital signal processors] to Smart Edge applications spanning connectivity, sensing, and on-device AI. With AI now ~20% of new licenses and a $125M royalty pipeline, we believe the market underestimates earnings power and overestimates the forward handset exposure." BTIG initiates Rubrik at buy BTIG says the cyber security stock is underappreciated. "We are initiating coverage on RBRK with a Buy rating and a $64 PT." JPMorgan upgrades Crescent Energy to overweight from neutral The firm reinstated coverage of the energy company stock and says it has "oil torque." "Following a period of restriction, we are moving to an Overweight rating and Dec-26 PT of $19 (Neutral rating and Dec-25 PT of $14 prior to restriction) from a Not Rated designation. CRGY i s a diversified E & P with a long track record of creating value through the A & D market." Bernstein reiterates Netflix as outperform Bernstein says trends are "down" for the stock but that it's sticking with Netflix. "Q1 engagement in the US is trending down for NFLX, further amplifying the overhang the company has faced over the past year."
