Here are Tuesday's biggest analyst calls: Nvidia, Apple, Tesla, Ulta, Micron, Amazon, Shake Shack & more
Here are the biggest calls on Wall Street on Tuesday: Bernstein initiates Cameco at outperform Bernstein says the uranium miner is a nuclear beneficiary. “We initiate coverage on Cameco (CCJ) at Outperform with a $52/sh price target (27% potential upside).” DA Davidson initiates Blackline at buy DA sees a “strong opportunity” to own shares of the enterprise software company. “We are initiating coverage of Blackline with a BUY rating, arguing that its recent product, pricing and partner initiatives all align in support of greater value capture where Blackline has the strongest competitive edge — complex accounting processes at the world’s largest organizations.” Melius downgrades Kroger to sell from hold Melius downgraded the grocer, citing rising competition. ” KR was once within spitting distance of meaningfully negating WMT U.S. as a presence in the U.S. grocery landscape.” Morgan Stanley upgrades Keurig Dr. Pepper to overweight Morgan Stanley sees an “opportune” entry point in the beverage stock. “Upgrade to OW — Underappreciated Growth Potential Building vs Peers, with KDP Potentially Poised to Break Out of Its Trading Range.” Goldman Sachs upgrades Ulta to buy from neutral Goldman says the beauty stock has a hit a “bottom.” “We are upgrading ULTA to Buy from Neutral with an updated 12-month price target of $423. We have been on the sidelines with this name since December 2022 given our concerns around the normalization of beauty industry sales and prestige market share loss.” Goldman Sachs upgrades AutoZone to neutral from sell Goldman says the auto parts company has pricing power. “We are upgrading AZO to Neutral from Sell to reflect the attractiveness of the company’s defensive business in the current macro environment and that 1) the trajectory of the company’s “do it for me” (DIFM) business appears to be improving…” Stephens initiates CrowdStrike at overweight The firm says the cyber company is a top idea. ” CRWD: large, broad cyber platform play + at-scale 20% grower + confident in net new [annual recurring revenue] acceleration in 2H + strong profitability.” Citi reiterates Apple as buy Citi says it’s sticking with Apple following Monday’s release of an iOS update. “We think Apple will likely reset Siri software expectations on the next earnings call before heading into [Worldwide Developers Conference] on June 9th.AAPL stock price is getting closer to our bear case following the Siri delay sell-off and the risk reward looks attractive. Maintain Buy.” Deutsche Bank initiates Trex at buy Deutsche said in its initiation of Trex that the wood decking manufacturer is a top idea. “Dominant market share in growing composite decking driven by material conversion.” Loop upgrades Shake Shack to buy from hold Loop says the stock’s pullback is “unwarranted.” “We are upgrading SHAK to BUY this morning with PT of $127, based on ~25x our 2025 EV/EBITDA estimate.” Raymond James reiterates Nvidia as strong buy Raymond James says it’s sticking with its strong buy rating on Nvidia following an Asia tech tour. “We continue to view GenAI as a multi-year tailwind and believe that the stocks are already discounting a material slowdown in AI spending in 2026.” Wells Fargo adds Tesla to tactical underweight second quarter list The firm says it’s sticking with its underweight rating heading into the second quarter with too many negative catalysts. “We have an Underweight rating on TSLA. We continue to see delivery growth declines & diminished return on price cuts driving a ~280bps y/y decline in 2025 auto [gross margin] ex credits. We remain skeptical on the CyberCab Deployment in Austin.” TD Cowen upgrades First Watch to buy from hold TD Cowen said in its upgrade of First Watch that it sees an attractive risk/reward for the breakfast and brunch company. “We see a favorable risk/reward as we expect 2025 to be an improved year of [same-store sales] from more effective and higher levels of marketing, while there are signs 2024 headwinds are dissipating.” Bank of America reiterates Amazon as buy The firm is bullish on Amazon’s AI Agent, Nova , saying it could help with “aspects of retail shopping.” “Amazon launched several new features of its foundational model Nova, including a new website for exploring models, and Amazon Nova Act, an agentic AI model that can perform and automate actions within a web browser.” Jefferies cuts American and Delta to hold from buy and Southwest to underperform from hold The bank downgraded American, Delta and Southwest , saying it’s concerned about slowing travel. “We lower Q1/Q2 ests w/ March exit rates pressuring summer (avg Q2 EPS -14% vs Street) as corporate & consumer sentiment to remain soft on swelling macro uncertainty + Q1 GDP flattish.” Morgan Stanley raises American Tower to overweight from equal weight Morgan Stanley said in its upgrade of American Tower that the cell phone tower company is a data center beneficiary. “We also expect double digit revenue growth in its Data Center segment over the next few years. Finally, we believe management is open to monetizing non-core assets over time should opportunities present themselves.” Citi reiterates Micron as buy The firm says it’s sticking with shares of the semiconductor maker. “We reiterate our Buy rating on Micron and maintain our target price of $120, or 10X F26E EPS, in line with its historical average but below AI peers.”
