Here are Wednesday’s biggest calls on Wall Street: Morgan Stanley reiterates Dell as overweight Morgan Stanley raised its price target on Dell ahead of earnings next week to $126 per share from $89. “Big picture, we believe DELL’s AI server positioning and momentum remains strong, that storage and general server demand remains stable with DELL a relative share gainer, and that PCs should show relative near-term strength from demand pull-forward.” Jefferies initiates Western Alliance as buy Jefferies said the regional bank has “robust growth.” “We are initiating coverage of Western Alliance with a BUY rating and a price target of $95.” Stifel upgrades Home Depot to buy from hold Stifel upgraded the stock following earnings on Tuesday. “We believe the FY25 performance will drive enthusiasm for HD’s ability to disproportionately capitalize on a likely above trend-line home improvement category recovery driving upside to our outlook and outperformance for HD shares.” HSBC downgrades UnitedHealth to reduce from hold HSBC said in its downgrade of UnitedHealth that it sees “policy overhang.” “Leadership change, pulled 2025 guidance, alleged Medicare fraud have resulted in market cap halving since Q1 result. New CEO has opportunity to start on a clean(er) slate, but we see risk to earnings growth along with policy overhang.” HSBC upgrades Bilibili to buy from hold HSBC said the China gaming company has an attractive outlook. “We turn more constructive on better game, user, profit outlook. Ad growth remains intact. Bili looks to leverage open sourced models to build their AI strategy.” Loop reiterates Nvidia as buy Loop said it’s sticking with the stock ahead of earnings next week. “We reiterate our Buy and $175 PT ahead of Apr Q EPS on 5/28. Lots of moving parts discussed below, but the gist is our work suggests NVDA’s Apr Q print and July Q guide can be ‘good enough’ vs. Street to support the stock into what we believe is a 2HCY2025 materially stronger than Street.” Citi reiterates Microsoft as buy Citi said it sees plenty of upside in the stock. “We maintain our Buy rating as we see Microsoft maintains a leadership position in Enterprise GenAI monetization and momentum existing the Mar-Q should continue to drive upside to street numbers.” Deutsche Bank resumes Intel as hold Deutsche resumed coverage of Intel and says it sees a slew of challenges ahead. “We have confidence in new CEO Lip-Bu Tan’s ability to formulate a transformation strategy that can re-accelerate profitable and sustainable growth, but the execution of this strategy and eventual achievement of these goals will likely be challenging and time consuming.” TD Cowen reiterates Broadcom and Advanced Micro Devices as buy TD Cowen said stocks such as AMD and Broadcom have a differentiated offering. “Beyond NVIDIA, companies such as AMD, Broadcom , and Credo all have strong tech differentiation tied to durable secular trends that are not evaporating overnight and should drive sustainable growth over the next few years.” Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it’s standing by top pick Tesla. “We believe events between now and year-end will go some way to convince investors that Tesla is more than a car company. In many ways, we believe Tesla’s role in the ‘Muskonomy’ is more important than ever before.” Bank of America upgrades AutoZone to buy from neutral The firm said the stock has recession resilience. “AZO has experienced stronger sales growth than peers in both of its core customer channel. In coming quarters we expect AZO to benefit from ongoing share gains, potential inflation from price increases, more favorable used vs. new car dynamics and a continued Pro tailwind.”
