Here are the biggest calls on Wall Street on Wednesday:

CLSA Maintains High-Conviction Outperform Rating on SK Hynix

CLSA said SK Hynix shares have already priced in concerns over AI capex sustainability, peak memory pricing, and rising competition from Chinese suppliers. The firm maintained its High-Conviction Outperform rating, expecting memory supply to remain tight through 2027 due to advanced-node complexity, lengthy fab ramp-ups, and robust data center demand. CLSA added that growing AI model complexity should continue to drive demand for high-end memory products.

Citi Raises Ford Price Target to $20, Upgrades Rating to Buy

Citi raised its price target on Ford Motor to $20 from $19 and upgraded the stock to Buy from Neutral, citing improving F-Series pickup production, declining warranty costs, and a more stable aluminum supply, all of which are expected to support stronger earnings.

Deutsche Bank Raises Price Targets on Boeing and Ford

Deutsche Bank raised its price target on Boeing (BA.US) to $248 from $244, and lifted its target on Ford (F.US) to $16 from $15.

Baird Cuts Caterpillar to Neutral, Lowers Price Target to $900

Baird downgraded Caterpillar to Neutral from Outperform and cut its price target to $900 from $1,200, warning that tighter U.S. state and local regulations on data center construction could weigh on equipment demand starting in 2027, despite the company's strong recent order momentum.