Here are Wednesdays biggest analyst calls: SpaceX, AMD, Apple, Adobe, CoreWeave & more
Here are Wednesday’s biggest calls on Wall Street: Morgan Stanley reiterates SpaceX as overweight Morgan Stanley said the stock is “getting cheaper.” “Just 4 months since our initiation, we’ve nearly doubled our 2027 revenue and EBIT estimates, while pulling forward FCF break even by four years (to 2031) and cutting ~$280bn from our projected debt issuance. On FY28, SPCX t rades cheaper than the S & P500. Interesting.” Citi upgrades Coupang to buy from neutral Citi said it sees plenty of positive catalysts ahead. “We upgrade Coupang (CPNG) to Buy, given: 1) likely sequential improvement in adj. EBITDA from 4Q26; 2) developing offering biz likely being less of earnings headwind in 2027; and 3) EV to CPNG’s Korea e-commerce GMV ratio suggesting share price now at near floor value.” Guggenheim initiates Lockheed Martin as buy Guggenheim said it sees long-term growth drivers. “We are initiating coverage of Lockheed Martin Corp. (LMT) with a BUY rating and a $735 PT, which represents 15% upside potential.” Rosenblatt upgrades Navitas Semiconductor to buy from neutral Rosenblatt upgraded the semis company following earnings. ” Navitas handily beat estimates as its high-power strategy reached an inflection point, with accelerating growth, a book-to-bill ratio well above 1.0, and backlog extending into mid-2027.” Barclays reiterates Advanced Micro Devices as overweight Barclays said it’s sticking with the stock following earnings. ” AMD remains our favorite idea in the group as the CPU and GPU businesses accelerate in tandem.” Read more. Wolfe upgrades MSG Knickerbockers to outperform from peer perform Wolfe said investors should be “excited” by the team’s financials which increases the chances the company is taken private. “Our stand-alone Knicks estimates include higher opex & new tax payments in FY’28, resulting in cash dwindling toward zero. Increasing team value and the need for a premium-priced minority sale (or even take private) set up an appealing risk/reward. Outperform, PT $380.” Wolfe initiates MSG Rangers as outperform Wolfe said “the odds of a take-private seem higher than ever.” “The Rangers burn cash and have little to no debt capacity, which means the odds of an equity transaction are very high. We think a premium-priced minority sale is very likely, and the odds of a take-private (while still low) are also higher than ever.” Truist upgrades Edwards Lifesciences to buy from hold Truist cited the company’s “growth potential.” “We think a 10-11% rev grower with accelerating EPS growth potential will see the multiple at least hold, if not expand over the NTM and as a result we are more comfortable that EW’s premium valuation will sustain on likely rising estimates.” Evercore ISI reiterates Apple as outperform Evercore said Apple is defensive. ” AAPL offers a different earnings driver through iPhone mix/pricing and Services rather than data-center construction; our work points to resilient demand, with gross-margin recovery and price elasticity the key tests. This is THE name to keep working when investors want to get defensive.” Citi downgrades Adobe to sell from neutral Citi said it sees too many negative catalysts. “We downgrade ADBE to a Sell, seeing downside risk to consensus growth estimates into FY27.” Morgan Stanley downgrades Flagstar to underweight from overweight The firm said the turnaround is “delayed.” “Higher rates are delaying FLG’s turnaround more than we initially expected. We expect further 2027 guidance cuts that are not reflected in Consensus. We are significantly lowering our target multiple, cutting our PT from $15 to $12, and downgrading from Overweight to Underweight.” Wells Fargo initiates On Holding as overweight Wells said the company is best positioned for growth. “ONON is positioned to reaccelerate growth into 2027. Notably, it is navigating the category disruption well, protecting the brand ahead of a critical innovation cycle and set to benefit from accelerated peer share loss.” Deutsche Bank reiterates CoreWeave as buy Deutsche lowered its price target on CoreWeave. “Right now, we believe the underlying fundamentals are being obscured by questions around financing that we are optimistic will be addressed over the next several quarters, presenting opportunity for investors. We reiterate our Buy rating while reducing our target price to $125 (from $150) to reflect somewhat higher near-term financing costs.” Cantor Fitzgerald upgrades Ouster to overweight from neutral Cantor said shares of the sensor software company are compelling. “Overall, with OUST’s shares down ~55% from its 52-week high ($63.79), and down ~35% in the past month, at the current valuation, we now view this as a good entry point for investors, particularly those interested in physical AI. We upgrade OUST to OW (from Neutral), and we introduce a PT of $45.” Cantor Fitzgerald initiates Netskope as overweight Cantor said the cloud networking company has plenty more room to run. “…we believe Netskope i s positioned for a rerating. We are initiating coverage with an Overweight rating and a 12-month price target of $28, based on 15.0x EV/FY27E revenue.” Jefferies initiates Core & Main as buy Jefferies said the water distributor has upside. “We initiate coverage of CNM, one of two national water distributors, at Buy with a $53 PT. Muni water (~44% of sales) and R & R (~50%) give a durable base, as utilities buy pipe, valves, hydrants and meters to replace failing mains and cut water loss.” Northland upgrades Astera Labs to outperform from market perform Northland upgraded the stock following earnings. ” ALAB reported a strong quarter and raised guidance.” Oppenheimer upgrades Transcat to outperform from perform The firm said it sees margin expansion for the test equipment company. ” Transcat provides calibration and laboratory instrument services to regulated industries, alongside instrument distribution and rentals. We upgrade to Outperform as stronger organic Service growth is translating into margin expansion and earnings revisions.”
