Wall Street Insights: Key Highlights

Here’s a roundup of important updates from Wall Street this Thursday:

KeyBanc on Apple: The firm has reaffirmed its sector weight rating for Apple, noting results that indicate slightly better-than-expected sell-through for the iPhone 17. Their November survey of carriers showcased mixed signals—while the overall sentiment was somewhat positive, certain key data showed year-over-year declines. They found that sell-through tracking slightly exceeded consensus expectations.

Citi Group and Broadcom: Citi has reiterated its acquisition recommendation for Broadcom, expressing optimism ahead of its earnings call scheduled for December 11. They anticipate results that are above consensus, largely driven by continued strength in AI.

CAVA Acquisition: Trust has initiated coverage on CAVA, the Mediterranean chain, assigning it a buy rating with a price target set at $66.

Airline Stocks: Citigroup has started buying positions in Delta, United, and American Airlines. They provided rating details, suggesting high-risk, buy positions for AAL with a price target of ¥19.26, DAL with a price target of $77, and UAL with a year-end price target of $132.

Salesforce and Goldman Sachs: Following Salesforce’s quarterly results, Goldman Sachs has reiterated a buy rating, maintaining a price target of $385 based on performance that was generally in line with expectations.

Snowflake’s Performance: Morgan Stanley has also reiterated its overweight rating on Snowflake, raising the price target from $272 to $299 per share. While product sales growth of +29% didn’t meet all investor expectations, strong bookings and a promising fourth-quarter outlook point to healthy demand.

InsMed Acquisition: Rothschild & Company’s Redburn has initiated an acquisition recommendation for InsMed, highlighting the potential for its product to become a major blockbuster.

JPMorgan’s Downgrade and Upgrade Moves: JPMorgan upgraded Toast from neutral to overweight, predicting the company will maintain significant growth as a software-driven payments leader. Meanwhile, they downgraded PayPal from overweight to neutral, suggesting that it’s “premature” to buy into the stock due to unfolding challenges.

Maze Therapeutics: Wells Fargo has initiated coverage with an outperform rating and a price target of $55 for Maze Therapeutics.

Micron and Tesla: Mizuho reiterated an outperform rating on Micron, increasing expectations and price targets. RBC highlighted Tesla’s position in the humanoid robot sector, emphasizing its focus on non-military applications for its Optimus robot while acknowledging the competitive landscape.

Real Estate Perspectives: JPMorgan also upgraded Toll Brothers to overweight while downgrading Lennar to underweight, suggesting the former is better positioned for 2026 despite anticipated challenges in the industry. They expressed that continued supply and demand difficulties might pose risks.

Oracle’s Price Target Adjustments: Citigroup lowered its price target for Oracle from $415 to $375 but believes the company is still well-placed in the market despite recent shifts in investor sentiment.

Baird’s Coverage Initiations: Baird has initiated coverage on O’Reilly Automotive, highlighting its appeal amid changing tariffs in the retail sector. They also believe AutoZone is well-positioned for growth thanks to its increasing network of hubs.

GE Aerospace’s Leadership: Susquehanna has expressed optimism about GE Aerospace, emphasizing its crucial role in the aerospace and defense sectors. Meanwhile, Guggenheim has initiated coverage of Monday.com, projecting a price target of $250, indicating significant upside potential.