Here are Thursday's biggest analyst calls: Micron, Apple, Intel, SanDisk, Netflix, Qualcomm, CoreWeave & more
Here are the biggest calls on Wall Street on Thursday: Bank of America upgrades Nomura to buy from neutral Bank of America says the Japanese investment firm is firing on all cylinders. “Our rationale for our Buy rating o n Nomura HD is as follows. (1) The gap to our PO has widened, driven by recent improvements in earnings and ROE. (2) Earnings have historically been volatile and highly sensitive to market conditions in the short term.” Barclays reiterates Tesla as equal weight Barclays said in its delivery previews note that fundamentals remain an “afterthought “At this point we believe the stock is being driven almost exclusively by narrative, with hopes for a number of ‘inflection points’ ahead for Tesla in Robotaxi, Optimus, and AI. Conversely, ‘fundamentals’ such as 2Q deliveries and margins are increasingly an afterthought in discussions…in our recent discussions on Tesla, the trajectory of the auto business has received almost no attention.” Citi reiterates SanDisk as buy Citi raised its price target on SanDisk to $2,500 per share from $2,025. “We open an Upside 90-Day ST View on SNDK shares on favorable industry results/commentary plus forthcoming catalyst of SNDK’s August investor day where we expect to hear updated commentary on demand expectations, technology roadmap and constructive capital returns outlook.” Rosenblatt initiates CoreWeave as buy Rosenblatt says it sees plenty of upside. “CoreWeave looks increasingly like the de facto operating system for AI, and we see upside to $250 over one year for CRWV.” Barclays upgrades Keurig Dr Pepper to overweight from equal weight Barclays says it sees a re-rating. “In US Staples sector short on unique, mis-priced ideas, investors are (gradually) starting to give KDP another look after a period of frustration and apathy. KDP ‘s story is still complex, but improved leverage and waning transaction uncertainty have, in our view, helped create runway for re-rating as the planned separation draws closer.” Read more. Benchmark initiates Pinnacle Financial Partners as buy Benchmark says it sees upside to consensus. “As management executes over the next few quarters, we believe the discounted valuation to its historical and peer levels will improve. The shares trade for 2x multiple discount to regional peers despite PNFP having a better footprint, and we think any downside risk from lack of execution is priced into the shares.” Citi upgrades Banco Santander Chile to buy from neutral Citi says it sees double digit income growth. “We rate Banco Santander Chile a Buy.” Goldman Sachs initiates Intel as neutral Goldman says it sees more compelling opportunities elsewhere. “We initiate coverage of Intel (INTC) with a Neutral rating and 12-month price target of $150 (~12% upside). We expect Intel to be a beneficiary of rising server demand (driven by agentic AI), and we see upside optionality from Intel’s role as a US champion with its foundry business – with near-term traction in advanced packaging, and longer-term potential in wafer outsourcing.” BTIG initiates Boost Run as buy BTIG says shares of the cloud infrastructure company have plenty room to run. “Boost Run (BRUN) is a GPU-as-a-service provider and a Preferred Cloud Partner of Nvidia which gives BRUN access to the latest GPUs, dedicated enterprise support, and seamless deployment of compute.” Barclays reiterates Apple as underweight Barclays says it still see too many negative catalysts for Apple. “We remain UW on AAPL on an uncertain growth backdrop, regulatory risks in Services, undefined AI strategy, and a premium valuation. We do not make changes to our estimates for AAPL.” RBC upgrades Icon to outperform from sector perform RBC upgraded the clinical research company and says it has strong visibility. “We are upgrading ICON to Outperform and raising our PT to $185 from $126. We have been looking for further data points that proved the strong 4Q25 was sustainable and 1Q26 delivered.” Bank of America reiterates Micron as buy The firm says it sees “stronger for longer pricing” following Micron’s earnings report on Wednesday. ” MU delivered another strong quarter, reinforcing our constructive view on memory’s role in AI and the increasing supply-side discipline supporting a more durable cycle.” Morgan Stanley downgrades Affirm to equal weight from overweight Morgan Stanley downgraded Affirm mainly on valuation. “Stepping to the sidelines as the market now appreciates the durability of growth, funding, and credit. Still a compelling long term story, but the thesis resolution and revisions we expected now look more properly priced in the shares.” Morgan Stanley reiterates Netflix as overweight Morgan Stanley says its checks show Netflix engagement remains robust. ” NFLX continues to have the strongest net retention score and is perceived to have the best original content, despite investor concerns over engagement.” Evercore ISI upgrades Canadian National to outperform from in line Evercore says it’s bullish on the rail freight company ahead of earnings. “For the first time in nearly 3 years, it appears that CNI i s set up for a material beat & raise heading into 2Q earnings.” Benchmark initiates JFrog as buy Benchmark says the company is a beneficiary of “AI driven software development.” “We are initiating coverage of JFrog Ltd. (FROG) with a Buy rating and $100 price target. We believe JFrog’s artifact-centric software supply chain platform is structurally positioned to benefit from AI-driven software development, where accelerating code generation shifts the primary control point from source code to artifact governance.” KBW upgrades UWM Holdings to outperform from market perform The firm upgraded the mortgage stock on valuation. “While the leverage at UWMC remains higher than peers, we expect a dividend cut which should stabilize the balance sheet and start growing the capital base.” Morgan Stanley upgrades Qualcomm to equal weight from underweight Morgan Stanley said its thesis was “wrong.” “We have been wrong to be skeptical. While Qualcomm is a late entrant, a newly emerging trillion dollar data center market creates significant opportunities.” Monness Crespi Hardt upgrades Workday to buy from neutral Monness says shares are compelling at current levels. “Under pressure from growing concerns that AI could curtail the software industry’s growth prospects, Workday is the worst performing stock in our coverage universe in 2026, falling 45%. Since reaching a peak in early 2024, the stock has collapsed by 62%, making the valuation enticing.” Jefferies upgrades Xylem to buy from neutral Jefferies said in its upgrade of the water company that it sees margin expansion. “We note that XYL has delivered 330bps of adj. EBITDA maonrgin expansion since 2023 and is on track to hit its 23% target a year ahead of schedule in 2026 with further expansion to ~24.5% by 2028.”
