Here are Friday’s biggest calls on Wall Street: Raymond James initiates Deere as outperform Raymond James said it’s bullish on shares of the ag equipment company. “We see large ag as one of the best businesses across our coverage, with DE’s market share leadership position in the Americas, technology investment and dealer network helping to provide a strong competitive advantage.” Morgan Stanley downgrades Nike to equal weight from overweight Morgan Stanley downgraded the stock following a “disappointing print and reduced outlook.” “We are downgrading NKE from Overweight to Equal-weight.” Deutsche Bank reiterates First Solar as buy Deutsche said it’s standing by shares of First Solar. “We reiterate our Buy rating on the company and increase our Price Target to $280 (vs previously $215) on 15x 2025e EPS), as we reassess and update our investment thesis.” Wells Fargo reiterates Nvidia as overweight Wells said it’s sticking with its overweight rating on the stock. “Our Overweight rating is based on our positive stance on NVIDIA’s competitive positioning in gaming GPUs and expanding growth opportunities in data center, HPC [high performance computing], and emerging / expanding AI opportunities.” Goldman Sachs initiates Essential Properties Realty Trust as buy Goldman said it sees “outsized growth” for the real estate investment trust. “We initiate coverage of net lease REIT Essential Properties (EPRT) with a Buy rating and $33.00 12-month price target. Oppenheimer reiterates Apple as outperform The firm raised its price target on the stock to $250 per share from $200. ” Apple is setting a new standard for hardware and software experience for a technology implementation that can appear confusing, intimidating, and jarring for an average consumer.” Citi reiterates Apple as buy Citi moved the tech giant up a spot to its number 2 top pick. “move AAPL up to #2 post best WWDC ever and increased confidence in iPhone refresh in 2025…” Citi initiates Xerox as sell Citi said in its initiation of the stock that it sees “structural declines.” “At this point, Xerox i s a Show Me stock given the company’s many points of necessary execution.” Wells Fargo reiterates Amazon as buy Wells raised its price target on Amazon to $239 per share from $234. “Raising already-above consensus ests and see another strong qtr and guide.” JPMorgan upgrades Digital Realty Trust to overweight from neutral JPMorgan said the company is a data center beneficiary. “We are upgrading Digital Realty Trust to Overweight with a price target of $175. We see the company as a substantial beneficiary of cloud and AI demand for data center capacity.” B. Riley initiates Intuitive Machines as buy B Riley said it’s bullish on shares of the space exploration company. “We initiate coverage of Intuitive Machines, Inc. (LUNR) with a Buy rating and a 12-month price target of $8 per share.” Citi downgrades Travelers to sell from neutral Citi said commercial insurers is it’s least favorite subsector. “We rank commercial lines as our least preferred subsector, and see TRV (downgrade to Sell) as having the highest likelihood of fundamental underperformance due to a greater combination of social inflation, CAT [catastrophe].” Piper Sandler upgrades Equity Residential to overweight from neutral Piper said it sees an “improving backdrop” for the real estate investment trust. “Further, regulators and banks are working in concert to blend and extend cash-flowing assets, allowing time to heal, especially as fears of real estate strewn on the streets haven’t materialized. Thus, we look for managements’ commentary reflecting this improved backdrop. Upgrading EQR to OW from N.” Susquehanna initiates Nextracker and Array as positive Susquehanna said it’s bullish on both solar tech companies. “We are initiating coverage of Array (ARRY) with a Positive rating and $14 PT and Nextracker (NXT) with a Positive rating and $59 PT.” Rosenblatt downgrades Alphabet to neutral from buy Rosenblatt said it sees “transitional risk” for Alphabet. “We lower our Alphabet rating to NEUTRAL, seeing multiple areas of transitional risk that recommend stepping back for a little while to see how the company handles it.” BMO upgrades SAP to outperform from market perform BMO said it has a “high degree of visibility” for the software solutions company. “We are raising our rating on SAP to Outperform and raising our target price to $237 from $218. Morgan Stanley reiterates ASML as overweight Morgan Stanley said the semis company is still a top pick and that ASML is seeing high demand in China. “We remain confident in ongoing order book recovery, see greater clarity around the roll-out of High NA [numerical aperture] and see near-term China demand as robust with little domestic competition.”
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