Here are Friday’s biggest calls on Wall Street:

Citi upgrades Wynn to buy from neutral

After a change in analyst coverage, Citi upgraded the casino company and says it’s firing on all cylinders.

“Meanwhile, WYNN brings the most inorganic growth potential to the table, with a major project now on the horizon (UAE), the brand strength to be a strong contender for any opportunities beyond the horizon or, alternatively, the cash flow generation and balance sheet health to enter a capital return phase starting in 2027/2028.”

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KeyBanc initiates Elanco as overweight

KeyBanc said the pet health company is a share gainer.

“ELAN’s Latest Innovation Products Launches Are Exposed to Some of the Fastest Growing and Largest Markets in Pet Health.”

Citi initiates Zeta Global as buy

Citi said it sees an attractive entry point for the software marketing tech company.

“We initiate coverage of Zeta Global with a Buy rating and $26 target price (~+50% upside) as we see it well positioned to capture wallet share in marketing technology, and digital media spend.”

William Blair upgrades Cognizant Technology Solutions to outperform from market perform

William Blair said it’s bullish on the technology solutions company.

“Overall, Cognizant has momentum after five consecutive quarters of positive organic constant currency growth for the business.”

Raymond James reinstates Nvidia as strong buy

Raymond James resumed coverage of the stock and says it remains compelling.

“NVIDIA Corporation leads in AI and is a core holding. NVIDIA retains significant competitive moats with an extensive and mature software stack resulting from over a decade head start, a strong community supported by the leading developers, and its full-stack systems approach and platform cadence.”

Loop initiates SiTime Corporation as buy

Loop said it sees a slew of positive catalysts ahead for the semiconductor chipmaker.

“We are initiating coverage of SiTime, Corp (SITM) with a Buy rating and $350 price target.”

Raymond James upgrades Doximity to strong buy from outperform

The firm said visibility has improved for the software company.

“We’re upgrading Doximity from Outperform to Strong Buy following a significant dislocation in shares post F2Q results, with the current risk/reward at 25x FCF looking too compelling to ignore. While we understand investor questions around seasonality and guidance philosophy, we actually think the long-term growth visibility/durability is improving.”

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Goldman Sachs downgrades Bath & Body Works to neutral from buy

Goldman downgraded the stock following earnings.

“We are downgrading BBWI to a Neutral from Buy given we believe management’s strategy change signifies a notable change in the business thesis.”

UBS reiterates Apple as neutral

UBS said its checks show wait times remains “elevated” for Apple’s iPhone.

“UBS Evidence Lab data that tracks iPhone availability across 30 geographies suggests wait times continue to tick lower WoW for the Base and Pro Max on average, the two models that remain elevated on a YoY compare.”

Rothschild & Redburn Certara as buy

The firm said Certara has upside potential.

“We launch coverage of Certara, the market leader in software modelling for drug development, with a Buy rating and $10 price target, which offers 21% potential upside.”

Deutsche Bank resumes Carvana as buy

Deutsche said the company reminds the firm of Amazon.

“We are resuming coverage of Carvana with a Buy rating and a $395 Target Price. To us, Carvana, like Amazon before it is a classic market-leading 1P e-commerce player that is in the early innings of doubling down on the advantages afforded to it via a fully verticalized infrastructure.”

Oppenheimer downgrades T-Mobile to perform from outperform

The firm said it’s concerned about a price war.

“T-Mobile Downgrading to Perform: Industry Price War Will Hurt Flowshare and Margins

Oppenheimer initiates IBM as outperform

Oppenheimer said it sees “margin expansion.”

“We are initiating coverage of International Business Machines (IBM) with an Outperform rating and a $360 price target...”

Morgan Stanley initiates MapLight Therapeutics

Morgan Stanley said the biotech company is well positioned.

“We initiate coverage of MapLight Therapeutics with an Overweight rating and a $34 PT.”

Baird upgrades WillScot to outperform from neutral

Baird said investors should buy the dip in the portable facilities company.

“WSC’s multi-year cyclical downturn has been painful. However, we believe 3Q25 was a watershed quarter, significantly lowering expectations and establishing what we believe could/should be an investable bottom.”

Berenberg initiates Interparfums as buy

The firm said it sees growth potential for the beauty company.

“Interparfums, Inc (IPAR) is a highly focused company, exposed to just one Beauty category: fragrance. It remains a small name in a $43bn market, offering a substantial growth runway. Its highly flexible and asset-light business model, coupled with the long-term vision of its two founders, has proved – and will remain – disruptive.”

Citi upgrades Cushman and Wakefield to buy from neutral

Citi said it sees balance sheet deleveraging for the real estate company.

“We are upgrading CWK to Buy from Neutral as we believe the improvement in the transaction market and leasing environment will: 1) continue to drive outsized earnings growth, and 2) allow CWK to continue to execute on deleveraging its balance sheet.”