Here are Tuesday’s biggest calls on Wall Street:

Bank of America reinstates Qualcomm as underperform

The firm resumed coverage of Qualcomm and downgraded the stock to underperform from neutral saying it sees “lukewarm growth.”

“We reinstate coverage of Qualcomm with an Underperform rating and a $145 PO due to lukewarm +2%/+1% sales/EPS CY25-28E CAGR vs. semis at +17%.”

Bank of America reiterates Nvidia as buy

Bank of America said it’s very bullish heading into the tech giant’s big conference.

“Reiterate Buy on NVDA ahead of its flagship GTC conference (keynote Mar-16).”

Deutsche Bank upgrades Teladoc to buy from hold

Deutsche said the risk/reward for the telehealth company is too attractive to ignore.

“We are upgrading TDOC share to Buy from Hold given what we see as a compelling valuation, a deliverable strategy for the BetterHelp business and a comparable transaction illustrating the road map as a potential path forward.”

TD Cowen upgrades Rivian to buy from hold

The firm said it’s bullish on the Rivian’s debut of its R2 model.

“We see full scale R2 demand at 212-335k units, suggesting upside to ’27 consensus.”

Jefferies initiates Gilead Sciences as buy

Jefferies said the biotech company has long term upside.

“We think GILD is well-positioned & see upside: 1) it has no major near-term IP cliffs & sig. operating leverage, 2) HIV franchise will remain dominant w/ durable tail & oppt’y for follow-on...”

Wolfe reiterates Amazon as outperform

Wolfe raised its price target to $255 per share from $250.

“We see Amazon benefiting from accelerating AWS growth and robust Retail growth with margin expansion at the company level.”

Rothschild & Co Redburn upgrades Intuit to buy from hold

The firm said Intuit has a “strong moat” of products.

“We view the core QuickBooks and TurboTax applications as some of the most resilient to AI disruption risk in our coverage given deep data and business logic moats built on complex regulatory dependencies, deep domain knowledge and strong network effects.”

B Riley initiates Strategy as buy

B. Riley said the crypto company is attractive.

“Beyond the attractive dividend yields, we believe that investors in both common and preferred securities benefit from exposure to the potential long-term appreciation of the underlying BTC holdings, a value creation mechanism that MSTR has demonstrated over six years of BTC accumulation.”

TD Cowen downgrades Novo Nordisk to hold from buy

TD Cowen said the biopharma company no longer has the chops to “answer the call.”

“NVO is an innovative company that can be fairly credited with unlocking the obesity market’s potential. But the business faces enormous challenges – first from branded competition, then from semaglutide LOE – and it is no longer clear the pipeline can answer the call.”

Morgan Stanley reiterates Microsoft as overweight

Morgan Stanley said the company’s array of Office products shows its ready for Agentic AI.

“Microsoft announced its first ‘Frontier Suite’ of enterprise AI offerings, which bundles Microsoft 365 E5 with M365 Copilot and the new Agent 365 (control plane for agents), with general availability expected on May 1, 2026 and priced at $99/user/ month.”

Wedbush reiterates Apple as outperform

The firm said the stock is a top name to own right now.

“Apple represents another defensive name within this tech trade as the company’s success with its consumer-driven product portfolio remains strong given the momentum with the iPhone 17 upgrade cycle and monster cash flow.”

Jefferies initiates Lifetime fitness as buy

Jefferies said the fitness company is best positioned.

“We see Life Time (LTH) as the clear premium winner in the golden age of fitness.”

Morgan Stanley upgrades CrowdStrike to overweight from equal weight

The firm said the stock is now a top idea.

“Upgrading CRWD as durable platform winner from favorable AI positioning, growing uptake of emerging modules and improving endpoint trends.”

Bank of America upgrades Telus to buy from neutral

Bank of America said shares of the Canadian telecommunications company have more room to run.

“TELUS is accelerating plans to address leverage and an elevated dividend payout ratio.”

Compass Point initiates SLR Investment Corp as buy

Compass Point said the business development company is a hidden gem.

“SLR Investment Corp. has a diversified institutional-quality platform. We believe that the lack of cushion between estimated NII and the current dividend, especially when base rates decline, has constrained its valuation.”