Here are the biggest calls on Wall Street on Thursday.

UBS initiates coverage on SK Hynix with a Buy rating, advising investors to buy the stock on dips

“We initiate coverage on SK Hynix - ADR (SKHY) with a Buy rating and PT of US$204, complementing our coverage of the local listing.”

Wells Fargo keeps an Overweight rating on Target and lifts the stock’s price target from $140 to $165 per share

“TGT’s stock run is enough to give anyone with history on the name pause, but Q2 beat/raise, self-help runway, easy 2H compares, and reasonable multiple keep us positive. Fundamental debate continues, but momentum is on the side of the bulls. Remain OW.”

Mizuho raises Bloom Energy from Neutral to Outperform and recommends buying on price pullbacks

“We upgrade Bloom Energy to Outperform following a strong quarter, with revenue and shipments above expectations, operating leverage materializing earlier than anticipated, and an attractive valuation following the recent pullback.”

Bernstein maintains Outperform ratings on both Nvidia and AMD, stating both chipmakers stand to benefit as hyperscale neocloud operators ramp up AI infrastructure buildouts

“Neoclouds don’t have the balance sheets to build their own facilities at scale, nor do developers (including Emerging AI Infra providers) want to take the risk on them for a 15-year lease term ... enter NVDA and AMD.”

HSBC cuts Procter & Gamble’s rating from Buy to Hold after the consumer goods conglomerate published its latest earnings figures

The broker flagged FY27 will be another transitional year with corporate reinvestments yet to deliver margin improvements.

“FY27 guidance points to another transition year with reinvestments yet to translate into margin recovery.”

Bank of America keeps Meta at a Buy rating, arguing the market has underappreciated Meta’s AI assets post-earnings release

“Core growth intact and AI options growing.”

Bank of America retains a Buy rating on Microsoft, with quarterly results delivering solid financial growth and validation for the firm’s AI strategy

“The key takeaway from 2Q results is increasing validation of Microsoft’s AI strategy. Revenue grew 17% YoY in constant currency and EPS reached $4.74, ahead of Street expectations of 14.8% and $4.25, respectively.”

Deutsche Bank sticks to a Buy rating for Robinhood, highlighting sustained product momentum following the brokerage’s Wednesday quarterly print alongside lowered expense guidance

“Good 2Q, expense guide lowered & product momentum broaden.”

Deutsche Bank maintains a Buy rating on Starbucks and boosts the price target from $120 to $126 per share

The coffee firm posted broad Q3 fiscal beats alongside raised guidance, proving its turnaround strategy is gaining traction.

“SBUX delivered a strong F3Q with beats across the board and a guidance raise, further reinforcing confidence that turnaround efforts are gaining traction and supporting accelerating top- and bottom-line growth.”

Morgan Stanley keeps Arm rated Overweight following its earnings release, supported by widespread chip adoption across end markets, ongoing revenue inflection and custom silicon development progress

“We are OW given the pervasiveness of Arm’s products with end market expansion and a revenue inflection in process, as well as progress on custom silicon.”

Morgan Stanley downgrades Qualcomm’s price target from $190 to $170 while holding an Equal Weight rating. Near-term earnings guidance is weaker than market forecasts, though lingering pressure stemming from Apple’s in-house modem development is gradually easing

“The bad news is that QCOM is guiding below and Street EPS for F2027 looks like it has to come down but the good news is that the band-aid around the AAPL overhang is finally being ripped off and we are a bit more confident also that AAPL will pay a royalty despite using its own modem.”

Susquehanna maintains a Positive rating on AMD and raises the price target from $450 up to $500 ahead of AMD’s August 4 second-quarter earnings release, forecasting strong data center-driven results and forward guidance

“AMD will report 2Q earnings on Tuesday, August 4. In short, we expect better results/ guidance, driven primarily by DC.”