Here are the biggest calls on Wall Street on Thursday: Mizuho upgrades Entegris to outperform from neutral Mizuho said the manufacturing company is a “consistent grower.” ” ENTG is capex-lite and has the highest 10-year EPS growth (~22%) in our coverage universe, reflecting focus & leading position in semiconductor chemicals/materials.” Bank of America reiterates Arm as buy Bank of America said it’s sticking with the stock following earnings on Wednesday. “However, we reiterate Buy as we believe ARM is uniquely exposed to some of the most important megatrends in semis…” Goldman Sachs adds Dollar General to the conviction buy list Goldman said it likes Dollar’s turnaround story. “Defensive turnaround story at an inflection point.” Morgan Stanley downgrades Zeta Global to equal weight from overweight Morgan Stanley downgraded Zeta following the software company’s latest earnings. “We are constructive on upward [estimate] revisions but take some chips off the table as durable growth is better built into valuation after shares increased +150% YTD.” Oppenheimer downgrades Etsy to perform from outperform Oppenheimer says it has limited visibility for the stock. “Following the 16% increase since 7/8 (Nasdaq -4%), we are downgrading ETSY to Perform from Outperform and removing $75 target.” Baird initiates OneStream as outperform Baird said the total addressable market for the software company is “compelling.” “We are initiating coverage of OneStream with Outperform rating and $32 price target.” Wolfe downgrades Bill.com to peer perform from outperform Wolfe said it sees too many headwinds for the software company. “We are downgrading shares of BILL to Peer Perform from Outperform. While shares have already underperformed YTD, headwinds [persist] around spend trends.” JPMorgan upgrades C.H. Robinson to overweight from neutral JPMorgan upgraded the shipping company following its earnings. “We are upgrading CHRW to Overweight and establishing a $110 Dec [2025] price target after the structural improvements we highlighted as a reason to own the stock into the print came through and drove another earnings beat.” Morgan Stanley upgrades GE Vernova to overweight from equal weight Morgan Stanley said in its upgrade of the electric power equipment manufacturer that it’s in the “early stages of a multi-decade energy transition investment cycle.” “Upgrading GE Vernova to Overweight and increasing our price target to $220.” Raymond James upgrades Wingstop to outperform from market perform Raymond James sees “powerful comps” for the chicken wing restaurant franchiser. “We are upgrading WING shares to Outperform from Market Perform as the company’s unprecedented comp [sales] momentum and raised long-term average unit volume (AUV) and unit growth targets more than outweigh our longstanding valuation concerns.” Loop upgrades Reddit to buy from hold Loop upgraded the stock mainly on valuation. “RDDT has struck deals with the NFL, NBA, MLB, Nascar and PGA Tour to show more game highlights and sports content including behind the scenes videos and AMAs (ask me anything) with players.” Wells Fargo upgrades Carvana to overweight from equal weight Wells said the opportunity is too attractive to ignore for shares of the online used car company. “We’re transferring coverage of CVNA to David Lantz at OW (from EW under Zack Fadem) w/ a $175 PT.” BTIG upgrades Datadog to buy from neutral BTIG sees more share gains in store for Datadog. “We are upgrading DDOG to Buy from Neutral and introducing a price target of $143. In short, we see DDOG as the best play in the observability market with a large opportunity to gain share.” Barclays reiterates Meta as overweight Barclays says it’s sticking with the Instagram parent following earnings on Wednesday. ” META continues to execute at arguably the best pace of any company in digital advertising, with little revenue deceleration despite facing very tough comps in 2H24.” Wolfe adds Amazon to the alpha list Wolfe said the stock is a “high quality asset.” “Add AMZN: We are adding AMZN to the Wolfe Alpha Listโa high quality asset with potential for meaningful margin expansion, accelerating Cloud growth, and AI tailwinds.” Bernstein reiterates Qualcomm as outperform Bernstein says it’s sticking with Qualcomm following earnings on Wednesday. “[T]he general story looks good, with solid traction in AI phones, initial traction with Arm PCs, and a diversification story that increasingly has legs, and the shares remain cheap at ~16x and > 40% discount to the SOX; we would be buyers.” Leerink upgrades Waters to outperform from market perform Leerink says the life sciences company has defensive characteristics. “We believe WAT is about to turn a corner with instrumentation growth reaching a bottom and orders inflecting upwards, at a time when China stimulus is on the cusp of materializing and biopharma recovery [is] also expected to take shape gradually.” Cantor Fitzgerald reiterates Tesla as neutral Cantor says it’s sticking with its neutral rating on Elon Musk’s EV maker but says it’s bullish on the company’s full self-driving initiatives. “We believe Tesla benefits from future upside from its Full Self-Driving (FSD) software (plus upcoming Robotaxi segment), the introduction of lower-priced models, a global manufacturing footprint with economies of scale and the largest Charging Infrastructure in the industry.” Morgan Stanley downgrades Voya to equal weight from overweight The Wall Street firm downgraded the money manager due to concerns about its health solutions segment. “Downgrade on Health Solutions earnings concerns: For the fourth quarter in a row, Voya saw weaker than expected Health Solutions earnings.” Citi reiterates SoFi as buy Citi said it’s getting more bullish on the stock following a series of investor meetings. “We hosted investor meetings with SoFi’s CEO and CFO in NYC yesterday. Attending investors came across bullish on the stock though centered much of the conversation around refuting some elements found prominent among the bears.”
