Here are Friday's biggest analyst calls: Nvidia, Dell, Costco, Amazon, Alphabet, Snowflake, Xpeng & more
Analysts issued multiple Wall Street calls after recent earnings and coverage initiations. Susquehanna upgraded Dell to positive, citing sustainable 8–10% operating margins and 6% FCF margins, supporting a 3x EV/sales view. RBC initiated Viper Energy at $58/share Outperform; Roth initiated Ouster at $75 Buy. HSBC upgraded Snowflake to Buy; JPMorgan downgraded Gap to neutral. Truist raised Amazon to $320 and Alphabet to $430.
How this was made
The 30-second read
Why it matters
The actionable element is the combination of (1) post-earnings analyst stance changes (DELL, S, GAP, COST, SNOW, BBY, FRT, AWK) and (2) new initiations with explicit targets (VNOM, OUST, CLVT, MCHB, WTTR, AUR).
Market read
Multiple upgrades and initiations create near-term sentiment catalysts, while the Gap downgrade is the clearest negative offset.
What to watch
For post-earnings upgrades/downgrades, traders should check whether the market already reacted earlier in the week; for initiations, liquidity/consensus positioning may matter more than the thesis.
Background
CNBC compiles Friday’s biggest Wall Street analyst actions, including upgrades/downgrades and new coverage following recent earnings for several companies.
Ticker impact
JPMorgan reiterates Nvidia as overweight, citing continued long-term positive fundamental trends.
Mild upward bias; limited incremental catalyst versus existing positioning.
Reiteration after prior coverage typically moves sentiment modestly unless paired with fresh guidance or estimates.
Susquehanna upgrades Dell to positive after earnings, arguing for a rerating to 3x EV/sales on margin/FCF confidence.
Moderately positive near-term bias as traders react to the rerating framework.
The article ties the upgrade to specific post-earnings margin/FCF sustainability and a higher valuation multiple.
RBC initiates coverage of Viper Energy (VNOM) with an Outperform rating and $58/share target.
Potential upside drift as the new target becomes a reference point.
Coverage initiation is actionable, but the article provides no new operational event beyond the initiation thesis.
Bank of America upgrades SentinelOne to buy from neutral, calling the -18% after-hours drop an attractive entry.
Near-term support likely; could trigger mean-reversion if selling was overdone.
The article explicitly references the after-hours move and frames it as an entry opportunity tied to the upgrade.
Macquarie upgrades XPeng to outperform from neutral, citing China EV volume growth and optionality in humanoids/robotaxi.
Moderately positive bias, especially if the market is focused on China EV demand signals.
The thesis is specific, but it’s still an analyst view rather than a new company-reported metric.
JPMorgan downgrades Gap to neutral from overweight following earnings, citing mixed brand performance.
Downward or capped upside bias until new catalysts emerge.
The downgrade is directly tied to post-earnings assessment of brand mix and performance.
Deutsche Bank upgrades Federal Realty to buy from hold, arguing for a return to superior growth profile.
Mild-to-moderate upside drift as investors re-rate the growth profile.
The article references Investor Day evidence, but provides no new quantitative guidance.
HSBC upgrades Snowflake to buy from hold after earnings, citing stronger earnings momentum and improved AI monetization visibility.
Positive near-term bias; could reinforce post-earnings positioning.
Actionable upgrade with multiple cited drivers, but no new numbers are provided in the article.
Market effects
Broad read-through to tech/AI infrastructure (NVDA, SNOW), cybersecurity (S), and China EV demand expectations (XPEV).
Regional bank coverage (MCHB) and defensive utilities (AWK) can influence sentiment within their sub-groups.
China EV and cross-border biotech regulatory tone (XPEV, CRL) can affect global risk appetite for growth/EM-exposed names.
Counterpoint
Analyst calls may be incremental versus already-priced post-earnings moves; targets can lag actual execution and macro/AI sentiment swings.
Key entities
- analyst_firmSusquehanna
Upgraded Dell to positive after earnings, arguing for a valuation rerating based on margin/FCF sustainability.
- analyst_firmBank of America
Upgraded SentinelOne to buy and reiterated Dell/Costco; also initiated Select Water Solutions.
- analyst_firmJPMorgan
Downgraded Gap to neutral after earnings and reiterated Nvidia as overweight.
- analyst_firmHSBC
Upgraded Snowflake to buy from hold after earnings.
