Wall Street’s biggest analyst calls on Wednesday spanned technology, energy, transportation and consumer names, with updates on companies ranging from Microsoft and Nvidia to Tesla, Apple and Chevron.
Morgan Stanley reiterated its overweight rating on Microsoft, saying the stock still offers an attractive risk-reward profile. The bank highlighted Microsoft’s decision to raise its quarterly dividend by 7 cents, or 8%, to $0.98 per share. That brings the annualized dividend to $3.92, implying a 0.78% yield versus 0.7% previously. Combined with high-teens EPS growth, Morgan Stanley said, that supports a durable high-teens total return profile.
Seaport initiated coverage of Cava with a buy rating. The firm said CAVA is the only scaled Mediterranean fast casual brand with substantial runway and a chance to define the category. It added that brand awareness remains well below peers, while newer stores are generating same-store sales growth faster than system averages. Seaport’s $58 price target is based on 29x FY27E EBITDA and supported by a 10-year DCF analysis.
BTIG launched coverage of American Bitcoin at buy, arguing the bitcoin miner has considerable upside. According to the firm, American Bitcoin was built to acquire Bitcoin (BTC), and ABTC’s dual strategy includes both BTC mining operations currently at about 28 EH, or roughly 3% of global hash, and open-market BTC purchases.
Wells Fargo initiated Sylvamo at overweight, pointing to the company’s low-cost asset base and a visible post-2026 inflection in free cash flow. In the bank’s view, those factors outweigh the secular pressure facing UFS [Uncoated Freesheet], while several levers for incremental value creation could add upside once near-term earnings noise fades.
Goldman Sachs maintained its neutral rating on Tesla and cut its 3Q26 vehicle delivery forecast to 435K from 490K. The bank said its checks indicate deliveries are tracking below both consensus expectations and its prior view.
Morgan Stanley also reiterated SpaceX as overweight, saying the stock has defensive characteristics. The firm argued SpaceX has the potential to drive improvement in “intelligence-per-watt-per-dollar-per-second.”
UBS upgraded Union Pacific to buy from neutral, citing expected volume growth. Its analysis suggests 2027 could mark a second consecutive year of strong volume expansion in key customer markets, while pricing trends in intermodal and merchandise relative to the truckload market point to a stronger tailwind from price.
Barclays upgraded Alvotech to overweight from equal weight. The bank said the biotech company has several positive catalysts ahead as it approaches the next wave of U.S. biosimilar approvals and launches in 4Q26, with a strong product revenue ramp expected to begin in 3Q26 after capacity returned to normal following remediation efforts.
Deutsche Bank upgraded Anheuser-Busch InBev to buy from hold, arguing the shares are undervalued. The bank said that while the stock appears expensive on a P/E basis, it looks cheap on FCF yield, leaving room for further upside.
Wolfe upgraded Paychex to peer perform from underperform and set a fair value range of $120-$135. Needham upgraded Rocket Pharmaceuticals to buy from hold, highlighting sales growth potential at the gene therapy biotech company. The same firm also upgraded Similarweb to buy from hold after becoming more constructive following investor meetings.
Citi reiterated Meta as buy and added a positive 90-day Catalyst Watch ahead of its Meta Connect conference on 9/23-24. The bank expects Meta to update its AI product strategy at the event.
JPMorgan upgraded Creditcorp to overweight from neutral, citing the Latin American company’s EPS growth and high ROE. Meanwhile, Morgan Stanley reiterated Apple as overweight, saying its checks suggest iPhone 18 demand may be “better than feared.” The bank said globally flat lead times for iPhone 18 Pro/Pro Max models despite +18% Y/Y premium builds in C2H may indicate demand is holding up better than expected, even with a staggered Duo launch.
Goldman Sachs also reiterated Chevron as buy and raised its price target to $240 per share from $225 after a series of meetings with management. In addition to its Similarweb upgrade, Needham said its view improved after investor meetings with CFO Ran Vered and Investor Relations VP Adam Hotchkiss. Evercore ISI added BP to its tactical outperform list, saying the current commodity price environment could leave BP with one of the most transformed balance sheets in 2H26.
Finally, Bank of America reiterated buy ratings on Nvidia, Marvell, Broadcom and Micron, saying it remains bullish on key AI infrastructure semiconductor beneficiaries. The firm’s top sector picks were NVDA, MRVL, AMD, AVGO, MU and LRCX.
