Here are Friday’s biggest calls on Wall Street:
Wells Fargo downgrades Netflix to Underweight from Equal Weight
Wells Fargo says it sees “engagement risk.”
“We see tougher choices ahead. Options incl a content spend reboot (takes time), licensing 3P content incl live sports (e.g. from FOXA, NBCU) and/or M & A ... so a messier NFLX story.”
Wedbush reiterates Nvidia as Outperform
Wedbush says it’s sticking with Nvidia following a series of meetings with management.
“Nvidia noted that it believes the amount that it is investing into OpenAI and Anthropic is just a tiny fraction of what their overall compute needs are going to be.”
Evercore ISI reiterates Apple as Outperform
The firm raised its price target on Apple to $380 per share from $365.
“It’s worth noting that our survey is US specific and does not reflect international trends. That said, demand appears modestly ahead of last year and could support another leg of iPhone growth following an already strong upgrade cycle.”
UBS reiterates Amazon as Buy
UBS says Amazon is a top pick.
“We have for some time carried AWS revenue estimates above the Street’s expectations and while consensus has nearly caught up to our FY26 growth rate of 36% YOY, our 47% in FY27 remains well ahead of the Street at 34% which we believe is largely due to the backlog ramp alongside the pace at which it converts into revenue.”
Morgan Stanley reiterates Meta, Alphabet and Apple as Overweight
Morgan Stanley says all three companies are best positioned for agentic AI.
“We see scaled distribution and large unique data sets as being critical to personalized agentic offerings and adoption, and continue to believe leading tech platforms like META, GOOGL, and AAPL are among the best positioned.”
BTIG upgrades Etsy to Buy from Neutral
BTIG says buy the dip.
“We are upgrading ETSY shares to BUY from Neutral with a $90 PT. Since our d/g on July 16, shares have pulled back enough to create a significantly better risk-reward for investors.”
JPMorgan upgrades Tyson Foods to Overweight from Neutral
JPMorgan says headwinds with chicken costs are already priced into the stock.
“We are upgrading the TSN shares to Overweight from Neutral. Our December 2027 price target is $63 (21% implied upside). We think emerging Chicken headwinds, mainly from rising feed costs, are well understood and could be partially mitigated by industry production cuts.”
Barclays initiates Tower Semiconductor as Overweight
Barclays says the semis company has plenty more room to run.
“Tower Semi is the leading silicon photonics foundry. Optical is set to be one of the fastest-growing semi end markets and Tower Semi is a key facilitator.”
Needham upgrades Dynatrace to Buy from Hold
Needham says the AI-powered observability platform has plenty of upside.
“We upgrade Dynatrace shares to a Buy rating with a $68 Price Target.”
JPMorgan initiates Sigma Lithium as Overweight
JPMorgan says it sees “high operating leverage.”
“We are initiating coverage of Sigma Lithium (SGML) at Overweight with a Dec 2027 price target of $14/share.”