Wall Street Updates

Here’s what the experts on Wall Street are talking about on Wednesday:

Goldman Sachs has upgraded Kingsoft Cloud from neutral to buy, highlighting the firm’s strategic focus on AI. They believe the cloud company stands to benefit from Xiaomi’s enhanced investments in AI, aiming to create a unified ecosystem that merges human interactions with technology.

In other news, Goldman Sachs has initiated coverage on BridgeBio Oncology Therapeutics, giving it a buy rating with a price target of $23. They also initiated Energy Fuels, stating that the uranium company is performing well, operating one of the highest-grade uranium deposits along with the only processing facility in the U.S. that handles both uranium and rare earths.

JP Morgan has upgraded James Hardie Industries from neutral to overweight after the company’s recent earnings results. They noted that James Hardie is trading at a discount compared to their price target and see potential for recovery in the U.S. residential construction market.

Goldman Sachs has started coverage on Samsara, identifying it as a “defensible growth asset” with a buy rating and a price target of $36.

UBS is upping its target price for NVIDIA from $235 to $245 per share, reflecting confidence despite moderate stock performance and ongoing supply chain signals. Management reportedly appears frustrated by uncertainties regarding future growth and margins.

Bernstein is optimistic about Oracle’s performance, indicating that risks linked to their new AI data center deal seem limited. They argue that potential downsides are minor compared to significant upside opportunities.

Barclays has downgraded Norwegian Cruise Line from overweight to equal weight due to valuation concerns, mentioning that although the sector has seen growth, NCLH has areas that need improvement.

JPMorgan downgraded Mattel to underweight, expressing concerns about uncertainties in the toy sector. They remain generally positive about consumer spending, but point to challenges in the latter half of the year, setting a price target of $14, based on historical valuation metrics.

Baird has upgraded Dick’s Sporting Goods from neutral to outperform, suggesting the company has a promising outlook fueled by earnings potential and productivity growth. Jefferies also raised Beta Technologies, seeing it as an attractive investment opportunity.

Baird upgraded Cloudflare from neutral to outperform, citing improved sentiment and favorable risk/reward dynamics. Jefferies similarly upgraded ArcelorMittal to buy, noting expected benefits from rising steel prices.

Barclays began coverage on McGrath Rentcorp with an overweight rating, suggesting it’s a strong option for those looking to engage with the U.S. non-residential construction sector’s recovery.

Morgan Stanley maintained an overweight rating on Micron, noting its recovery from previous shortages across all end markets. Meanwhile, Goldman Sachs has reiterated its buy rating for Robinhood, though it lowered the price target from $150 to $132, predicting a mixed reaction due to recent financial results.

Bernstein views Netflix as outperforming and indicates that Paramount’s recent proposal for Warner Bros. Discovery should be a strategic test for Netflix, while Benchmark continues to endorse Tesla, emphasizing its long-term investment focus as the company gears up for 2026.