Here are Friday’s biggest calls on Wall Street: Roth MKM initiates Quanta Services as buy The firm said the infrastructure company is best positioned for data centers and AI. “Power is the key bottleneck for the AI/datacenter theme, and PWR is one of the best-positioned companies to support the acceleration of the electrical infrastructure build-out with its leading market share in electric utility and renewables.” Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said “another pivotal moment for AI” is coming when Nvidia report earnings next week. “NVIDIA remains the mainstay for whether AI stocks advance or move lower.” CLSA upgrades Alibaba to strong buy from outperform CLSA said the China online marketplace is “best positioned to capitalize on surging demand for AI applications.” “We upgrade Alibaba from O-PF [outperform] to High Conviction O-PF and raise our target price from US$125 to US$165.” JPMorgan upgrades Grab Holdings to overweight from neutral JPMorgan said investors should buy the dip in shares of the Singapore tech company following earnings on Thursday. “We continue to believe that GRAB can leverage network effects to build on its market leadership while optimizing monetization and spend. We upgrade GRAB to OW.” Goldman Sachs upgrades Terreno Realty Corp to buy from neutral Goldman upgraded the real estate investment trust following earnings. “We expect industrial absorption (i.e., occupied square feet) will improve in 2025, which makes us more constructive on the sector. On a company-specific basis, we believe TRNO is now best positioned among our industrial REIT coverage.” Bank of America reiterates Apple as buy The firm said Apple’s expansion of its ecosystem is “opening up a large potential revenue stream with Apple TV+ on Android.” “Apple recently announced availability of the Apple TV App on Android mobile devices. … .Maintain Buy on stable cash flows, earnings resiliency and potential beneficiary of AI use on edge devices.” HSBC upgrades Unity to buy from hold HSBC upgraded the game developer software company following its “strong” earnings beat. “Unity engine showing growing momentum and rollout of new ad model is a potential gamechanger TD Cowen reiterates Amazon as buy TD Cowen said it’s analysis shows Amazon Web Services is well positioned for AI. “We Estimate AWS Could Generate ~4x Incremental GenAI Revenue per Incremental GenAI Capex (on avg) from ’26-’30.” Wells Fargo upgrades Stagwell to overweight from equal weight Wells said the marketing and communications company has a long runway for growth. “We upgrade STGW from Equal Weight to Overweight, as we think strong new business + a more favorable underlying env’t for digital transformation will translate to peer-leading ’25 organic growth.” JPMorgan initiates Celestica as overweight JPMorgan said the electronics manufacturing services company is best positioned. “We are initiating on shares of Celestica, with an Overweight rating and Dec-25 price target of $166, with leverage to AI infrastructure investments across both compute as well as networking.” Morgan Stanley reiterates Taiwan Semiconductor as overweight The firm named TSM a catalyst driven idea and says investors should buy the stock ahead of Nvidia earnings. “We would expect TSMC’s share price to rise if NVDA’s guidance were to beat expectations.” Bank of America reiterates Block as buy The firm said investors should buy the dip following earnings on Thursday. “We continue to believe XYZ is undervalued and business model quality is high; focus turns to post-1Q acceleration in both Square and Cash App (which seems plausible), and 2H Investor Day; Maintain Buy.” Cantor Fitzgerald downgrades Rivian to neutral from overweight Cantor said in its downgrade of the EV company that it sees too many negative catalysts following earnings on Thursday. “Downgrading Rivian to Neutral (from OW) due to lower vehicle deliveries, fewer EDV [electric delivery van] deliveries, and worsening macro conditions, including the implementation of incremental tariffs and the likely removal of the $7,500 EV Tax Credit.” JPMorgan reiterates Walmart as buy JPMorgan said investors should buy the dip following earnings on Thursday. “Objectively, we think the WMT story is largely intact with the glass half full vs. half empty debate a question of how you view reinvestment.” UBS reiterates Domino’s as buy UBS said the pizza company is well positioned for same-store sales growth. “We believe DPZ remains positioned for accelerating US sss [same-store sales] momentum in ’25 supported by multiple initiatives, with stronger new store growth going forward, and a solid multiyear earnings growth trajectory. “
