Here are the biggest calls on Wall Street on Thursday:

Evercore ISI reiterates Apple as outperform

The firm says its checks show gaming growth is weighing on App Store revenue for Apple. “August App Store revenues decelerated for the sixth consecutive month, as revenues declined -1% y/y, marking the first year-over-year decline since November 2022. App Store data suggests that the Gaming segment weighed on growth again during the month, with Gaming revs falling ~10% y/y.”

Bank of America reiterates Nvidia as buy

Bank of America says it’s sticking with Nvidia after a series of meetings with investor relations. “We maintain Buy, top sector pick with the stock at ~16x CY27 PE / ~0.3x PEG, the lowest in ~10 years despite improving demand and overblown memory and circular-financing concerns.”

Morgan Stanley reiterates Warner Music Group as overweight

The firm says Warner Music is a new top idea. “Given recent market share momentum, this appears highly conservative and presents a compelling risk/reward. Reiterate OW, now Top Pick.” Jefferies initiates Cameco as buy Jefferies says the uranium company has a robust balance sheet. “Combining operating discipline and a strong balance sheet, Cameco is, in our view, a prime beneficiary of the West’s nuclear build-out. > 30 countries have pledged to triple capacity by 2050, hyperscalers are contracting baseload for AI as electricity demand accelerates & Russian exclusion has lifted conversion and enrichment to incentive levels.”

TD Cowen initiates Pagaya Technologies as buy

TD Cowen says it sees volume growth. “We initiate on PGY at Buy with a $26 target price, based on a 11x our 2027E EPS estimate of $2.37. Pagaya’s scalable model enables ~80% of incremental net fee revenue to flow through to earnings, while faster onboarding and multi-product expansion support volume growth.” Jefferies initiates BWX Technologies as buy Jefferies says the company has a differentiated offering. ” BWXT combines operating leverage to the maintenance and expansion of the commercial nuclear fleet and a unique position as a sole-source provider of nuclear reactors and fuels to the U.S. navy, while avoiding direct P & L volatility for swings in uranium or enrichment prices.”

Evercore ISI upgrades Deere & CNH to outperform from in line

Evercore upgraded both ag and equipment company stocks and says there is “still plenty of room to run.” “Since their ‘official’ troughs, respectively, of September and December 2025, Deere stock is up 48% and CNH 36%. So while it’s hard to forecast if we’ll fully replicate the stock price gains of prior cycles, at a minimum history suggests there is still plenty of room to run with a traditional farm equipment recovery in front of us.”

Wells Fargo reiterates Amazon as overweight

Wells raised its price target on Amazon to $338 per share from $328. “AWS margin and Bedrock analysis yields 4-6% upward revisions to AWS OI estimates in ’26-’28. Combined w/ well-above-consensus AWS revenue estimates, we now sit 9% / 12% above consensus AWS OI in ’27 / ’28. Expect positive revision story to continue.”

Seaport initiates Occidental Petroleum as buy

The firm says Occidental is firing on all cylinders. “Focus can shift to execution under new CEO Richard Jackson following a decade of portfolio transformation.” Berenberg initiates Prudential as buy Berenberg says the insurance company has strong management. “We initiate coverage of Prudential plc with a Buy rating.”

CLSA initiates Thermo Fisher as outperform

CLSA says the company is a reshoring beneficiary. “In USA, we initiate coverage on Thermo Fisher with Outperform and a TP of US$748 as it is the leading life-science tools platform and offers the broadest exposure to a recovery in biopharma investment as well as US reshoring.”

Bank of America reiterates Snowflake as buy

The firm says Snowflake has plenty of room for growth following earnings on Wednesday. “Snowflake reported strong F2Q27 results, with Product revenue growth accelerating to 37% y/y from 34% in F1Q27.” Read more.

Macquarie upgrades Broadcom to outperform from neutral

Macquarie upgraded the stock following earnings on Wednesday. “Broadcom is the cleanest listed proxy for Anthropic’s compute ramp. We forecast Anthropic to purchase > US$40bn in FY28.”

Barclays reiterates Tesla as equal weight

The firm says it’s cautious heading into Tesla’s cybercab event on Thursday. “We expect event to be lighter on details, yet growth/ scaling targets could be a catalyst, reinforces meme nature of the stock.”

Raymond James initiates Amalgamated Financial as outperform

Raymond James says the banking company has “earnings power.” ” AMAL is a highly profitable, commercially focused bank with a differentiated low cost deposit franchise that should support continued earnings growth and strong profitability as the bank optimizes its earning asset base through commercial loan and PACE growth and fixed-rate asset repricing.”

Truist initiates Vishay Intertechnology as buy

Truist says the semis manufacturer has plenty of upside. “For the last few quarters VSH has been enjoying a cyclical upturn.” BTIG initiates Tiziana Life Sciences as buy BTIG says the biotech company has plenty of upside. ” Tiziana is a clinical-stage biotechnology company focused on using the anti-CD3 antibody foralumab to stimulate regulatory T-Cell (Treg) production to cool the inflammatory drivers of neurodegeneration.”

JPMorgan upgrades Copart to overweight from neutral

JPMorgan says shares of the online vehicle auction company are compelling. “While the competitive environment remains intense, we have long highlighted that a pivot to a growth-oriented strategy would be the trigger for us to turn constructive on CPRT shares, particularly as CPRT’s service levels, expansive infrastructure moat, and long-standing carrier relationships have not changed in the face of competition.”

RBC initiates RingCentral as outperform

RBC says the stock is a “durable growth story.” “We are initiating coverage on RingCentral, Inc. (RNG) with an Outperform rating and $85 price target, based on its market leadership position in core voice, platform expansion into contact center and AI, and commitment to margin expansion and shareholder returns.”

JPMorgan upgrades Envista to overweight from neutral

JPMorgan says it’s bullish heading into the company’s investor day. “Heading into Envista’s September 17th Investor Day, we are upgrading shares to Overweight as we believe the company is entering the event from a position of improved execution, a more durable organic growth algorithm, and a valuation that has not fully kept pace with strengthening fundamentals.”

Rothschild & Co Redburn downgrades Moderna to sell from neutral

Rothschild says the stock is “overvalued.” ” Moderna’s recent data for its cancer vaccine in melanoma was undoubtedly good, building on earlier successes. However, the overexuberant reaction to the news is beyond our reconciliation under any plausible scenario, leaving the stock considerably overvalued, in our view.”

Jefferies initiates Mirion as buy

Jefferies says Mirion “offers differentiated exposure to both the expansion of global nuclear power production and the use of radiopharmaceuticals.” ” Mirion is one of the most direct public market ways to gain exposure to accelerating nuclear investment.”

Jefferies initiates Solstice Advanced Materials as buy

Jefferies says the critical minerals and specialty materials company has plenty more room to run. ” Solstice combines a scarce set of specialty-material franchises where regulation, qualification barriers, and supply security support ~$2.4bn (~$15/sh) in cumulative FCF through 2030.”

Wells Fargo reiterates Chevron as overweight

Wells raised its price target to $230 per share from $226. CVX announced expansion of its JV in Venezuela. We update our model and note CVX’s increasingly differentiates post-2030 resource position, of which Venezuela is a potentially growing contributor over time.”