Here are Wednesday's biggest analyst calls: Apple, Nvidia, Amazon, Tesla, 3M, Pinterest, AMD, Meta and more

Published Wed, May 1 20248:32 AM EDTUpdated Wed, May 1 20249:11 AM EDT

Here are the biggest calls on Wall Street on Wednesday: Bank of America reiterates Amazon as buy Bank of America said it sees margin upside following the company's robust earnings report. "In our view, a major positive from the call was CEO commentary that margins can continue to expand while Amazon invests." Bank of America reiterates Super Micro as buy Bank of America lowered its price target to $1,090 per share from $1,280 but said it's standing by the stock following earnings on Tuesday. " Super Micro reported F3Q revenue slightly below Consensus." Barclays reiterates Advanced Micro Devices as overweight Barclays said the chipmaker is "best positioned" following earnings on Tuesday. "In all, AMD remains one of the best positioned names in AI coupled with an improving core business." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said investors should expect a "volatile tape" but added that it's sticking with the stock. " Tesla leadership has a history of upping up the intensity when its back is against the wall. Investors should expect a volatile tape as the company enters an 'unfamiliar' phase in its strategic lifecycle." JPMorgan reiterates Apple as overweight JPMorgan said it sees an attractive entry point ahead of Apple earnings on Thursday afternoon. "The sentiment has improved despite tough data points as the focus has shifted to owning the potential AI upgrade cycle; however, the upcoming earnings print will still matter for investors in offering insights into the magnitude of the cyclical challenges on account of pressured consumer spending as well as the headwinds in relation to market share moderation in China." Evercore ISI adds Nvidia to the best core ideas list Evercore added Nvidia to its top-picks list. "A Tectonic Ecosystem Play in the AI Computing Era." Wedbush upgrades Seagate to outperform from neutral Wedbush said in its upgrade of the stock that it sees margin upside. "Finally, with differentiated enterprise drives traditionally having seen margins of 40%+, we see room for STX to significantly lift its profitability in the out years as suggested by our new FY2026 earnings estimates." HSBC upgrades Endava to buy from hold HSBC said it sees an EPS bottom for the software company. "Upgrade Endava to Buy (from Hold) with new target price of USD45 (from USD44): we see EPS bottoming out in 3QFY24 as cost optimization measures should start impacting net income positively." TD Cowen downgrades Skyworks to hold from buy TD Cowen said in its downgrade of the Apple supplier that it sees too many headwinds. "Furthermore, while gross margin will take time to recover as utilization and Broad Markets pick back up, we believe risk/reward skews negative until there is greater visibility into a Mobile content catalyst. We downgrade SWKS shares to Hold and accordingly adjust our estimates lower to account for this dynamic." Deutsche Bank downgrades Starbucks to hold from buy Deutsche said it sees "broad-based headwinds" for the coffee giant following its earnings report on Tuesday. "We are downgrading SBUX to Hold following a challenging F2Q print that showed signs that headwinds are more pervasive and persistent than we expected, and we have limited visibility into the pace and magnitude of a recovery." KeyBanc upgrades Dollar Tree to overweight from sector weight Key says fundamentals are improving for the discount retailer. "We believe 'Breaking the buck' still has a multiyear runway for the Tree banner." JPMorgan upgrades Fifth Third to overweight from neutral JPMorgan said it sees earnings upside for the regional bank. "Among our regionals, we expect Fifth Thirds earnings to benefit relatively more near term from higher long term rates and upgrade the stock to Overweight relative to peers, driven by the earnings upside." JPMorgan upgrades 3M to overweight from neutral JPMorgan said shares of the company are compelling at current levels. "We are upgrading 3M to OW on a combination of an attractive valuation, an increasingly cleaned up balance sheet, with the dividend cut catalyst behind them now, and a turn in earnings momentum on a bottom in electronics, with better visibility on remainco fundamentals, while its still highly non-consensus, with only 1 buy rating." Bank of America reiterates Pinterest as buy Bank of America said it sees "multiple tailwinds to aid growth & margins" following earnings on Tuesday. "We rate Pinterest Buy. It offers a differentiated user experience with content and advertising powered by its proprietary taste graph and a fundamental alignment between Pinner and advertiser objectives." JPMorgan downgrades Logitech to neutral from overweight JPMorgan downgraded the computer peripherals software company and said it sees a "challenging macro." "We are downgrading shares of Logitech , even as the quarter showed continued signs of robust execution, as we believe the rebound of the product portfolio to healthy growth in the medium term will remain constrained by a challenging macro and efforts to drive growth will likely need to return to robust promotional levels." Loop reiterates Meta as buy Loop lowered its price target on the stock to $550 per share from $555 but said it's sticking with shares of Meta. "Our estimates for Meta are relatively unchanged, about 1% lower EPS in 2025." Goldman Sachs upgrades SiriusXM to neutral from sell Goldman upgraded the stock mainly on valuation. "We upgrade shares of SiriusXM to Neutral (from Sell) following recent underperformance."