Here are Thursday’s biggest calls on Wall Street: RBC upgrades Nike to outperform from sector perform RBC said the company is making progress in its turnaround. ” Nike is taking the right steps, with clear improvement in Running Footwear offer, positive channel checks, survey findings and a refreshed organisational structure that should support faster and more accountable decision-making.” Read more . Goldman Sachs upgrades StepStone Group to buy from neutral Goldman Sachs said the financial planning company is an “underappreciated beneficiary of wealth growth in private markets.” “We upgrade STEP to Buy from Neutral with an $83 price target, representing 37% upside.” Roth initiates GrabAGun Digital as buy Roth said the e-commerce firearm company is well positioned. “We are initiating coverage on GrabAGun (NYSE: PEW) with a Buy rating and $8.25 PT.” Barclays initiates BeOne Medicines as overweight Barclays said it is bullish on the biotech company. “BeOne (ONC) is a commercial oncology company developing therapies across hematologic and solid tumors.” Citi reiterates Meta as buy Citi said it is bullish on the company’s artificial intelligence smart glasses following a presentation at Meta’s Connect conference. “With three new AI smart glasses launched at Connect, we emerge incrementally positive on Meta’s AI glasses and broader AI device strategy and believe adoption of the glasses could reach.” BMO initiates Dorman Products as outperform BMO said it is bullish on the auto parts company. “We initiate coverage of Dorman Products with a $180 target price and an Outperform rating.” UBS downgrades Dropbox to sell from neutral UBS said demand remains challenging for the cloud storage company. “We are assuming coverage of Dropbox and downgrading to a Sell rating (from Neutral) with a $27 PT (from $29).” UBS downgrades Box to neutral from buy UBS said upside is limited for the content management platform company. “We are assuming coverage of Box with a Neutral rating (from Buy) based on a view of Box’s core business remaining stable, but near-term upside being limited.” William Blair initiates Credo as outperform William Blair said the high-speed solutions connectivity company is well positioned for AI. “Credo is largely credited with pioneering the market for active electrical cables (AECs), which leverage integrated silicon to extend data transmission on copper to distances of up to seven meters.” Mizuho reiterates Coinbase as neutral Mizuho raised its price target to $300 per share from $267. “We now value COIN at ~20x at the high end of the median for payments, exchanges, and asset manager peers as we believe COIN deserves credit for growth, cost management, and secular tailwinds, and note this is in line with the current market valuation.” Goldman Sachs reiterates Tesla as neutral The firm said longer term it expects Tesla to “grow its EPS driven in part by larger contributions from autonomy and robotics.” “Given the move higher in market multiples more generally, as well as the growth rate we believe the business can support over the longer term, plus the increases we make to our forward EPS estimates, we raise our 12-month price target to $395 from $300.” Wolfe initiates Home Depot and Lowe’s as outperform Wolfe said both stocks should benefit from an “improving housing backdrop.” “We favor Home Depot (Outperform) and then Lowe’s (Outperform) given their cleaner exposure to an improving housing backdrop.” Wells Fargo downgrades Progressive to equal weight from overweight The firm said it is concerned about slowing growth. ” PGR has traded at its highest valuations in growth mode, and we believe growth will continue to slow from here.” RBC upgrades CSX to outperform from sector perform RBC said the stock remains attractive in “all consolidation scenarios.” “We are upgrading CSX shares to Outperform (from Sector Perform) reflecting our view that the stock is well positioned under virtually all consolidation scenarios…” Read more. CFRA reiterates Nvidia as buy CFRA said the upside is “limited” for Nvidia right now. “Limited Upside for NVIDIA until U.S./China Trade Negotiations Improve.” JPMorgan initiates Crispr Therapeutics as overweight JPMorgan said in its initiation of Crispr that the biotech company is well positioned. “We are launching coverage with an OW rating and a Dec-2026 PT of $70.” Oppenheimer reiterates Apple as perform Oppenheimer said Meta’s smart glasses are not a threat to Apple. “The obvious questions for Apple investors are: 1) is Meta Ray-Ban Display a threat to Apple’s ecosystem around iPhone, AirPods, and Apple Watch? And 2) is Meta leapfrogging Apple in smart glasses design? Upon closer inspection of Ray-Ban Display’s specification and discussion with MR supply chain contacts, our answer to both questions is no.” BTIG initiates Abercrombie & Fitch as buy The firm said it sees a “multi year” growth opportunity for the clothing company. “We initiate coverage on ANF with a Buy rating and $120 PT.” Piper Sandler reiterates Alphabet as overweight Piper Sandler raised its price target on Alphabet to $285 from $220. “Search has the possibility to re-accelerate in ’26. Rising CAPEX does give us some concern, especially if interest rates continue to move lower. But, execution continues plus new ad product launches like AI Max for Search Campaigns. PT to $285 from $220, reiterate OW.” Read more. Bank of America initiates AeroVironment as buy Bank of America said it is bullish on shares of the drone company. “We initiate coverage of AeroVironment (NYSE: AVAV) with a Buy rating and a PO of $300.” ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here .)
