Wall Street analysts delivered a flurry of rating changes and new coverage initiations Friday, with artificial intelligence infrastructure names and consumer brands taking center stage.
AI & Semiconductors: Morgan Stanley reiterated an Overweight rating on Nvidia but lowered its price target to $267 from $300, citing the CEO resignation and China regulatory risks while maintaining a positive long-term view. Truist Securities downgraded Nvidia to Hold from Buy, expressing concerns over corporate culture and potential GPU diversion to China. Wolfe Research maintained Outperform ratings on Nvidia, Broadcom, and Marvell Technology, citing strong AI inference demand. Conversely, Rothschild & Co Redburn downgraded Broadcom to Neutral from Buy, citing limited near-term upside and uncertainty regarding Google’s custom chip efforts. Roth Capital initiated coverage of Analog Devices and Allegro MicroSystems with Buy ratings, highlighting industrial recovery and data center growth, respectively.
Software & Cybersecurity: KeyBanc upgraded Palo Alto Networks to Overweight, viewing a pullback as a buying opportunity ahead of accelerating security budgets. Loop Capital upgraded Autodesk to Buy on improving fundamentals. Goldman Sachs reiterated a Buy on CoreWeave, noting margin expansion as the company moves up the software stack.
Consumer & Retail: StoneX initiated coverage of Deckers Outdoor and Birkenstock with Buy ratings, praising brand strength, growth levers, and balance sheets. Baird upgraded Domino’s Pizza to Outperform on improving same-store sales and franchisee economics. Stifel downgraded Lowe’s to Sell ahead of earnings, citing underappreciated challenges.
Industrials & Healthcare: Stephens initiated coverage of Korn Ferry and Service Corporation International with Overweight ratings. Jefferies upgraded Steris to Buy on robust EPS growth prospects. Deutsche Bank upgraded Installed Building Products to Buy following an accretive acquisition. Piper Sandler upgraded Americold Realty Trust to Overweight on revaluation upside and initiated Innio Group at Overweight on data center power generation demand. Wells Fargo initiated coverage of Denali Therapeutics, Alector, and Korsana Biosciences at Overweight on Alzheimer’s pipeline potential, and upgraded Ecolab to Overweight on sticky pricing.
Space & Defense: KeyBanc maintained a Sector Weight rating on SpaceX ahead of a critical Starship flight test.
