Here are Tuesday’s biggest calls on Wall Street:

KeyBanc reiterates Nvidia as overweight

Key raised its price target on the stock.

“NVDA (positive, Overweight, increasing estimates, increasing PT to $330 from $310) – Our takeaways were mixed but mostly positive for NVDA.”

Barclays initiates SK Hynix at overweight

The bank initiated coverage of the stock and says it sees “significant growth ahead.”

“We switch coverage of SK Hynix to its ADRs, initiating at OW with a $330 PT.”

HSBC downgrades IBM to reduce from hold

The bank said IBM’s valuation is stretched.

“Downgrade to Reduce (from Hold); cut TP to USD191 (from USD231) on lower multiples to reflect broader sector derating.”

Evercore ISI initiates SpaceX at outperform

The bank said the rocket and satellite company is too compelling to ignore. “We launch coverage of SPCX with an Outperform rating and a $230 price target.”

KeyBanc downgrades Apple to underweight from sector weight

Key said its checks show “below-trend growth” for Apple.

“We think expectations NT are reasonable though we see: 1) slowing iPhone builds with price increases, weak U.S. upgrades, and changing device subsidy models; 2) ’27 expectations that likely need to move lower for Mac, iPad, and Wearables; and 3) as unit growth likely slows, so will the growth in Apple’s user base, likely pressuring Services. At 35x PE, we think AAPL is too expensive for this to occur.”

Morgan Stanley reiterates Netflix as overweight

The bank lowered its price target on Netflix to $90 per share from $115.

“The engagement elephant continues to rear its head & investors are on-edge that an earlier price hike in a seasonally tough period & lighter content slate could have driven more churn than usual. We continue to find shares undervalued relative to the growth, but acknowledge a tricky catalyst path.”

Wolfe reiterates Advanced Micro Devices as outperform

Wolfe raised its price target to $650 per share from $450.

“AMD : positive despite the strong run, with potential for $25+ earnings power. We’re raising estimates well ahead of the street to $15 for FY27 on CPU strength.”

Morgan Stanley reiterates Broadcom as overweight

Morgan Stanley said investors should buy the dip.

“We have been somewhat surprised by AVGO’s underperformance YTD, particularly given the continued strength of the company’s AI growth trajectory.”

Jefferies reiterates Amazon as buy

Jefferies said the stock has a “discounted valuation.”

“Our 685-person proprietary survey showed 54% of AMZN shoppers spent > 10% more y/y on June Prime days and AMZN remains a preferred destination.”

Mizuho downgrades Circle to underperform from neutral

The bank said it’s concerned about pricing pressures.

“Downgrade to Underperform on looming pricing pressure. Open USD (OUSD) is a dollar-pegged stablecoin unveiled on June 30. We believe that Open-USD’s pass-through model to distributors, large scale with 140+ partners including Mastercard, Stripe & BlackRock, and likely GENIUS Act compliance, could fundamentally alter CRCL’s business model, which relies on retaining a large portion of the treasury yield to drive revenue.”