Here are the biggest calls on Wall Street on Thursday: KeyBanc reiterates Apple as sector weight The firm says its checks indicate “slightly stronger iPhone 17 sell-through than previously expected” from Apple. “Results from our November iPhone 17 carrier surveys and KFL Data were mixed, as our iPhone carrier survey was slightly positive, while Key First Look Data results were down y/y. Our carrier survey indicates iPhone 17 saw sell-through tracking slightly above store expectations. Citigroup reiterates Broadcom as buy Citi says it’s bullish on the stock ahead of earnings on December 11. “We expect AVGO to report results above Consensus, driven by continued AI strength (31% of F25E sales), particularly as Google extends its TPUs to external customers.” Truist initiates Cava at buy Truist says the Mediterranean chain has a “healthy valuation.” “We are initiating coverage of CAVA with a BUY rating and $66 price target.” Citigroup initiates Delta, United and American at buy Citi initiates three airlines with a buy and says they are well positioned. “We rate AAL as Buy/High Risk with a $19 YE26 price target. … .We rate DAL as Buy with a $77 YE26 price target. … .We rate UAL as Buy/High Risk with a $132 YE26 price target.” Goldman Sachs reiterates Salesforce as buy The firm says it’s sticking with the stock following earnings on Wednesday. “We reiterate our Buy rating and $385 PT following Salesforce’s F3Q26 results, where revenue and guide were largely in-line with expectations.” Read more. Morgan Stanley reiterates Snowflake as overweight Morgan Stanley raises its price target on Snowflake to $299 per share from $272 following earnings. “Product rev growth of +29% falls short of investor expectations but a strong bookings and a robust Q4 guide suggest demand remains healthy.” Rothschild & Co Redburn initiates Insmed at buy The investment bank says the biopharma company has products with “multi-billion-dollar blockbuster potential.” “We launch coverage of Insmed with a Buy recommendation and a $263 price target.” JPMorgan upgrades Toast to overweight from neutral JPMorgan sees an attractive entry point for the restaurant tech company. “We see TOST maintaining top decile growth as a bonafide software-led payments leader, unburdened by legacy distribution/tech, that is stacking TAMs using a proven playbook with expense discipline to deliver $976.5M in 2027E EBITDA implying a reasonable 19x EV/EBITDA multiple at current price.” Read more. JPMorgan downgrades PayPal to neutral from overweight JPMorgan says it’s “too early” to buy the stock. “We let our longstanding Overweight theses on both FISV and PYPL go stale, learning that acknowledging challenges isn’t enough to relieve valuation pressure.” Wells Fargo initiates Maze Therapeutics at buy Wells says shares of the biotech company are compelling. “We initiate MAZE at OW, $55 PT.” Mizuho reiterates Micron as outperform Mizuho raises its price target on Micron ahead of earnings on December 17. “Reiterate Outperform, raising estimates and PT to $270 from $265.” Bank of America reiterates Ferrari as buy Bank of America says the luxury auto maker is a top idea in 2026. “For us, Ferrar i remains a compelling Buy case despite a conservative 5y outlook announced at its October Capital Markets Day.” RBC reiterates Tesla as outperform RBC says Tesla is a key player in the humanoid race but that the robot race remains wide open. ” Tesla is focusing on deploying its Optimus humanoid robot across manufacturing, hospitality, and consumer markets, while intentionally excluding military and police applications.” JPMorgan upgrades Toll Brothers to overweight from neutral and cuts Lennar to underweight from neutral JPMorgan says Toll Brothers is better positioned in 2026 than Lennar. “Builder fundamentals likely to remain relatively weak in 2026, with downside risk to our estimates persisting due to a still challenged demand/supply industry backdrop.” Wolfe initiates Crane at outperform Wolfe says the diversified industrial firm is firing on all cylinders. ” CR checks the right boxes with strong ops, mgmt credibility, and M & A upside.” Citi reiterates Oracle as buy Citi lowers its price target on Oracle to $375 per share from $415 but says the company remains well positioned. “Investor sentiment has quickly deteriorated from a record Q1 and upbeat analyst day. Questions loom on the specifics of capex/debt financing while broader demand concerns percolate around AI and OpenAI. While we await more certainty on the magnitude of capex/debt, we view the concerns around Oracle’s debt health to be overstated as more of a thematic AI hedging dynamic.” Baird initiates O’Reilly Automotive as outperform Baird says the stock is a compounder. “While ORLY’s fundamental appeal amidst a tariff impacted retail landscape has not gone unnoticed superior comp visibility and prospects for an inflection in EBIT margins should be enough to keep shares compounding.” Baird initiates AutoZone at outperform Baird says the auto parts company is well positioned for growth. ” AZO’s growing network of hubs/mega hubs are improving parts availability, and management is doubling down on service intensity (delivery speed, outside sales force). These investments have fueled accelerating top-line growth, but AZO’s share is still just ~5% within a highly fragmented $100B TAM.” Susquehanna initiates GE Aerospace at positive The firm says GE Aerospace has a “unique leadership position.” “GE Aerospace is at the center of the Aerospace & Defense industry, providing propulsion technology and advanced engine systems that power many of the world’s commercial and military aircraft.” Guggenheim initiates Monday.com at buy Guggenheim says the work management software company has upside potential. “We’re initiating coverage of Monday.com ( MNDY) with a BUY rating and $250 price target, representing 64% upside potential.”
