Here are Friday’s biggest calls on Wall Street: JPMorgan downgrades Macy’s to neutral from overweight JPMorgan lowered its price target to $14 per share from $19 on Macy’s following earnings on Thursday. “Downgrade to Neutral lowering our Dec ’25 price target to $14.” TD Cowen upgrades Tesla to buy from hold The firm upgraded the stock following a change in analyst coverage and said investors should buy the dip. “We’re also Buy-rated on Tesla post the recent pullback and ahead of potentially consequential catalysts this year.” TD Cowen names General Motors a top pick The firm named GM a new top idea and said it has “ample” growth levers. ” GM isn’t your typical ‘legacy’ automaker because of its: (1) Majority of earnings from Truck Franchise; (2) Unique (Top Pick) EV accretion setup; (3) Ample growth levers, strong execution.” Rosenblatt initiates Coinbase as buy Rosenblatt said the stock is a beneficiary of the Trump administration’s embrace of bitcoin. “In our view, COIN is the clear blue chip in the sector and should be a beneficiary of multiple positive tailwinds.” TD Cowen upgrades Dayforce to buy from hold The firm said it sees a compelling entry point for the human resources software company. “We upgrade DAY to Buy as we see recent underperformance in shares & underappreciated FCF margin expansion yielding an attractive entry point.” Wedbush reiterates Tesla as outperform Wedbush added the stock to its top picks list. “This is a gut check moment for the Tesla bulls (including ourselves) after this massive selloff in Tesla shares with fears mounting. The bears own the Tesla narrative in the near-term as lackluster sales numbers from Europe, China, and the US in January/ February along with Musk protests/brand worries have created many concerns.” Baird upgrades JPMorgan Chase to neutral from underperform and Bank of America to outperform from neutral The firm said the risk/reward is getting more attractive for several banking giants. “Risk/reward improving after this week’s weakness – upgrading BAC and HBAN to Outperform, JPM to Neutral. From our perspective, recent weakness in the bank group has resulted in an opportunity to get more constructive.” RBC initiates Vertiv as outperform RBC said the infrastructure company is a data center beneficiary. “We are initiating coverage on the near-pureplay datacenter power/thermal solutions provider Vertiv with an Outperform rating and $121 price target.” Wedbush upgrades Logitech to outperform from neutral Wedbush said the computer products company “new vision is sound.” “We are upgrading shares of LOGI to OUTPERFORM from NEUTRAL after management clarified at its recent Analyst and Investor Day that it has significant organic growth runway ahead with gaming tailwinds and by expanding its addressable market into new end markets…” Morgan Stanley upgrades Steel Dynamics to overweight from equal weight Morgan Stanley said the company is in the midst of a “multiyear investment cycle.” “Upgrade STLD to OW as completion of capex cycle increases FCF and paves the way for higher cash returns. UBS upgrades Jazz Pharmaceuticals to buy from neutral UBS said the biopharma company has an attractive pipeline. “Improved business outlook + pipeline catalyst driving re-rating potential. We upgrade JAZZ to a Buy (from Neutral).” Bank of America reiterates Broadcom as buy The firm said the stock remains a top pick and “AI leader” following earnings on Thursday. “We reiterate our Buy rating on top pick Broadcom following a reassuring quarter/ outlook including: 1) beating Q4/Q1 consensus AI expectations by ~10% each, 2) reaffirming $60-$90bn CY27 served addressable opportunity across 3 existing AI customers…” Bank of America adds Synchrony to the US1 list Bank of America said the financial services company has a return profile that’s “attractive.” “With credit stabilizing and potentially improving, we think investors will appreciate SYF’s attractive business model and ROE potential.” Jefferies upgrades Wayfair to buy from hold Jefferies said in its upgrade of Wayfair that the stock trades at a discount. “With top-tier market share gains, a new paid loyalty program, compelling B2B traction, and underrated physical retail expansion, we have fresh optimism for EBITDA growth above the Street.” UBS reiterates Nvidia as buy UBS said it’s standing by the stock ahead of its AI [GTC] Conference later this month. “The UBS Tech Team remains positive longer term on AI drivers, but investors are currently less assured than they were through the past two years. We await confirmation catalysts ( Nvidia GTC 18 March, Computex 20 May) to possibly support sentiment.” Deutsche Bank upgrades Old Dominion to buy from hold Deutsche said the shipping company has a strengthening financial position. “When it comes to generating robust financial returns and operating efficiency, it doesn’t get much better than ODFL in the Transportation sector in our view.” Evercore ISI upgrades Hawaiian Electric to outperform from in line The firm says investor sentiment is improving around the utility company. “HE is now better positioned than when it previously traded at a comparable valuation versus peers.” Goldman Sachs reiterates Costco as buy Goldman said it’s standing by Costco following earnings on Thursday. “We think the stock will likely be down on the perceived miss, but in our view, the business is as strong as ever given February’s top line.” Deutsche Bank initiates FedEx as buy The firm said the company still delivers “significant shareholder value.” “We are initiating on FDX with a BUY rating and a target price of $337, which represent 36% upside to Tuesday’s close.” Bernstein reiterates Netflix as outperform Bernstein said Netflix’s Anime genre has a large total addressable market and well positioned for growth. “Anime is an important genre for Netflix, and the total number of anime titles has steadily risen over the years.” Guggenheim upgrades Array Technologies to buy from neutral The firm upgraded the solar tech company following a series of meetings with management. “We are upgrading our recommendation for ARRY from Neutral to Buy, and establishing a $10 price target. Bank of America upgrades Zscaler to buy from neutral Bank of America said the IT security cloud company is showing plenty of growth drivers. “We believe that Zscaler is positioned to gain share in the market’s migration to cloud-based security solutions. Its scalable, purpose-built software platform also enables it to move into new security markets.” Bank of America upgrades Leonardo DRS to buy from neutral The firm said the defense contractor has plenty of growth opportunities and U.S. Navy exposure. “We think the renewed emphasis on shipbuilding, coupled with continued strong defense tech modernization spend globally, is incrementally positive for DRS.” Deutsche Bank initiates Union Pacific as buy The firm said it’s bullish on the railroad company. ” UNP had the best operating margin (40.1%) and highest returns on invested capital (15.8%) among its peer group this past year.” Stifel reiterates Microsoft as buy Stifel lowered its price target to $475 per share from $515 but said it’s sticking with the stock after a series of meetings with investor relations. “With most of MSFT’s segments performing well at scale, given investor sentiment and near singular focus on capex intensity the meetings served to reinforce our belief.”
