Here are the biggest calls on Wall Street on Thursday:

JPMorgan initiates SK Hynix as overweight

JPMorgan says the company has "AI cycle durability." "We initiate coverage of SK hynix with an OW rating and a Jun-27 PT of US$245 based on a 20% ADR premium to the local share price target."

Piper Sandler reiterates SpaceX as neutral

Piper says it's concerned that Starship launches might ramp up "too slowly." "We think SpaceX may embrace the role of enabler, to dispel anti-trust concerns."

JPMorgan upgrades Meta to overweight from neutral

The firm also raised its price target to $820 per share from $640. "We believe there's still meaningful upside potential as Meta Platforms, Inc. is in the early stages of releasing frontier models and AI-driven products beyond advertising, notably Muse AI agent and Meta Model API access."

Piper Sandler initiates Nvidia, Broadcom, Arm and Advanced Micro Devices as overweight

The firm says it's very bullish on all four stocks. "Top picks include Broadcom, NVIDIA in Accelerators, where demand is 2x supply. Market share gainers in CPU servers we like Advanced Micro Devices and ARM Holdings."

Bank of America reiterates Apple as buy

Bank of America lowered its price target to $370 per share from $380 following the company's iPhone product unveil on Wednesday. "In his first major product launch as CEO, Mr. Ternus emphasized Apple's long-standing focus on building reliable products that combine hardware, software and services to deliver differentiated user experiences."

JPMorgan reiterates Tesla as neutral

The firm said in a note on Thursday that Tesla Motors faces an uncertain path to regulator approval for the Cybercab. "With the official public roll-out of the Cybercab, the debate no longer pertains to whether the vehicle can drive itself but whether a controls-free, purpose-built platform can clear an authorization landscape that remains deeply fragmented across jurisdictions."

Truist initiates Nebius as buy

Truist says it sees margin upside. "We are initiating coverage of NEBIUS with a Buy rating and $355 PT. We view Nebius as an opportunity to invest in a scaling AI-native hyperscaler still building out its infrastructure."

Wells Fargo upgrades Yum Brands to overweight from equal weight

Wells says buy the dip. "Upgrade YUM to OW; Despite NT uncertainty, we see a compelling LT entry point for a high-quality asset poised to re-rate as EPS growth accelerates & TB recovers from transitory setbacks."

TD Cowen initiates Relx as buy

TD Cowen says the business analytics company is an AI beneficiary. "We believe the market has misclassified Relx PLC as an AI casualty when its proprietary data, embedded workflows, and trusted decision tools make it an AI beneficiary."

Raymond James upgrades Casey's General Stores to outperform from market perform

Raymond James says buy the dip. "We are upgrading CASY to Outperform from Market Perform and establishing a $750 target price following the ~14% post-earnings pullback, which we believe creates an attractive entry point into a high-quality compounder with an underlying earnings algorithm that remains intact."