Here are the biggest calls on Wall Street on Thursday:
New Street initiates SpaceX as buy
New Street says the space company stock is well positioned.
“Based on our low-end market growth assumptions, our $2.3tn valuation assumes they win 75% of this market. If though the whole opportunity grows to our high-end estimate and SpaceX wins 50% share, it would imply a fair value of $330/ share.”
BTIG initiates Sensei Therapeutics as buy
The firm said in its initiation of Sensei that the biotech’s stock has plenty of room to run.
“The co was formed via Sensei’s acquisition of Faeth Therapeutics in Feb 2026, concurrent with a $200M PIPE extending runway through both key data readouts.”
Bank of America upgrades Intel to buy from underperform
Bank of America says it sees a CPU opportunity.
“We double-upgrade Intel (INTC) to Buy from Underperform on higher confidence in INTC’s opportunity to help address industry constraints in leading edge wafers/packaging, plus supply into a much larger agentic CPU [central processing unit] TAM.”
Oppenheimer reiterates Tesla as perform
Oppenheimer says it’s not a given that Tesla and SpaceX will merge anytime soon.
“While we anticipate TSLA shares will see some support on speculation of a merger with SPCX, we believe CEO Elon Musk’s longer term vision of AI is best served by diversified, flexible access to capital and believe having two public currencies supports that strategy most effectively.”
Bank of America reiterates Advanced Micro Devices as buy
The firm raised its price target to $560 per share from $500 on top pick AMD.
“For AMD, we raise est/PO to $560, top CPU pick on incumbency + pipeline + upcoming AI day (Venice launch).”
BTIG upgrades Henry Schein to buy from hold
BTIG says it sees margin improvement.
“We are upgrading shares of Henry Schein (HSIC, Buy, $100 PT) from Neutral to Buy.”
Bank of America upgrades Black Hills to buy from neutral
The firm says it has “better visibility” for the energy company.
“We upgrade Black Hills Corp (BKH) to Buy from Neutral. We expect the pending all-stock merger with NorthWestern Energy (NWE) to close and see the strategic value as underappreciated, with the combination offering greater scale, a stronger balance sheet, broader jurisdictional diversity and a larger infrastructure runway across data centers, transmission, generation and gas.”
Jefferies upgrades General Dynamics to buy from hold
Jefferies says General Dynamics investments are “paying off.”
“Upgrade to Buy for continued strength of NT results, Marine line-of-sight to 1+2 subs cadence driving margins, and positive Aero aircraft mix.”
Jefferies upgrades Arthur J. Gallagher to buy from hold
Jefferies says the company is well positioned for growth.
“AJG’s organic outlook is stabilizing at ~5% through 2026-28 (vs. ~4% peers), with history showing durable growth above pricing. Middle-market mix, retention, and share gains support underlying growth, while underlying margins expand with outer-year upside from synergies and AI.”
Jefferies initiates Advanced Drainage as buy
Jefferies says the drainage company has upside.
“WMS still trades at a ~10% discount to some peers even at our PT, despite higher margins, stronger FCF yields, above-peer organic growth, and a leading position in the secular stormwater market.”
Rothschild & Co Redburn upgrades CME Group to buy from neutral
Rothschild says the company is a high quality asset.
“CME is widely recognised as one of the highest, if not the highest, quality exchange asset in the industry. ... However, the company’s investments and regulatory manoeuvres over the past decade make it well-positioned to benefit from the emerging structural tailwinds that will help sustain better growth than expected over the next decade.”
Bank of America reiterates Oracle as buy
The firm says it’s sticking with Oracle despite its plans to raise more capital for its AI buildout.
“We rate Oracle Buy. Our bullish view on Oracle is based on accelerating demand in the company’s OCI [Oracle Cloud Infrastructure] segment.”
Bank of America reiterates Meta as buy
Bank of America says that new products are the “key to a re-rating.”
“The investment debate on Meta is centered on the return profile of the AI investment cycle and company’s positioning within the emerging Frontier AI ecosystem.”
Cantor Fitzgerald initiates Advanced Energy Industries as overweight
Cantor says the precision power company has plenty of upside.
“We are initiating coverage of Advanced Energy Industries, Inc. (AEIS) with an Overweight rating and a $400 price target.”
Wolfe reiterates Micron as outperform
Wolfe raised its price target to $1,250 per share from $550.
“We update the Wolfe Memory Model and raise our MU FY26/FY27 ests primarily on higher FY26 commodity pricing, higher FY27 HBM pricing. Supply remains well below demand thru CY27. We see $125 FY27 EPS; PT to $1,250.”
Guggenheim initiates Septerna as buy
Guggenheim says the biotech company has blockbuster potential.
“We are initiating coverage of Septerna, Inc. (SEPN) with a BUY rating and a $52/shr PT based on our high conviction in multi-blockbuster potential across SEPN’s oral small-molecule GPCR pipeline and optionality from the company’s Native Complex platform.”
Evercore ISI Netflix reiterates Netflix as outperform
Evercore says its survey checks show Netflix remains well positioned.
“Overall, our survey results demonstrated robust core metrics in both the U.S. and UK markets across Penetration, Satisfaction and Churn Intent. Notably, both markets demonstrated continued adoption of the adsupported subscription offering,”
Piper Sandler initiates Twist Bioscience as overweight
Piper says the life science company is best positioned for AI.
“Twist is the essential infrastructure layer for AI-driven biology.”
MoffettNathanson downgrades Chewy to neutral from buy
MoffettNathanson says the stock has “unimpressive” growth right now.
“Our Buy ratings are not placeholders. If we have an active rating, we should be able to confidently present the thesis to investors with an expectation for upside. As Chewy is situated today, we no longer hold this belief and are downgrading to Neutral.”
Bernstein reiterates Nvidia as outperform
Bernstein says Nvidia is a data center beneficiary.
“The datacenter opportunity is significant, and still early, with material upside still possible.”
BTIG initiates Voyager Technologies as buy
BTIG says the space infrastructure is firing on all cylinders.
“We view Voyager as an increasingly scaled, acquisition-driven consolidator of critical space and missile-defense technologies, supported by meaningful post-IPO capital to continue building out differentiated capabilities across a historically fragmented supply chain.”
Oppenheimer initiates SpaceX as outperform
The firm called the space company “unique.”
“We believe SPCX intends to converge communications and cloud/AI using space based infrastructure. We see potential for SPCX to leverage terrestrial compute expertise as a bridge (and possible back-up plan) to enable key scale and cost advantages.”