Here are the biggest calls on Wall Street on Wednesday: Piper Sandler reiterates Tesla as overweight Piper said in a note on Wednesday that it found six reasons why Tesla has "solved the self-driving puzzle." "When it comes to the efficacy of Tesla's full self-driving (FSD) software, there's no shortage of skeptics. In meetings, clients frequently reference Waymo's greater robotaxi deployment numbers as a reason to doubt Tesla's readiness. The uncertainty is exacerbated by a lack of universally-accepted, directly comparable datasets that measure disengagments, crashes, or other metrics." Needham initiates Hyliion Holdings as buy Needham says the power plant solutions company is firing on all cylinders. "We initiate HYLN at Buy with a $9.00 target." Barclays upgrades Oscar Health to overweight from equal weight Barclays says the healthcare company's shares are compelling. "With single-line exposure to the Individual ACA market, we believe OSCR offers the most direct leverage to a potential multi-year multiple re-rating, alongside a margin recovery cycle as repricing actions take hold." Needham initiates Power Integration as buy Needham says the semis power conversion company is firing on all cylinders. "We are initiating coverage of Power Integrations with a Buy rating and a $90 price target..." Bernstein initiates Johnson Controls as outperform Bernstein says the company is in a "lean transformation." "We also like Johnson Controls and rate them Outperform; their lean transformation is showing strong results, and they're supported by strong chiller tailwinds near-term." Citi upgrades RenaissanceRe to buy from neutral Citi says it sees an increase in buyback activity. "We are upgrading the shares of RenaissanceRe to Buy. Why? In short, benign 2H catastrophe experience should increase buyback activity and book value growth, while adverse catastrophic experience could improve sentiment." Wells Fargo upgrades Cracker Barrel to overweight from equal weight Wells says the turnaround is happening for the restaurant chain. "Upgrading CBRL to OW from EW; $50 PT. Shares have worked (+54% YTD; SPX +8%), but a FQ3 beat & raise confirms business is on firmer footing & turnaround is regaining ground; Cheap valuation, ~27% short interest & easy compares warrant further upside." Rosenblatt reiterates Nvidia as buy The firm says Nvidia shares are still very attractive. "We hosted group meetings with Toshiya Hari, VP, IR & Strategic Finance. We recommend owning NVDA as agentic AI expands the company's Data Center opportunity, supported by leadership in AI compute, strong growth visibility, and superior margin/FCF profile, with shares currently trading at a ~35% discount to its peers and an attractive 17x CY27/FY28 P/E." RBC upgrades Pfizer to market perform from underperform RBC says it sees a more balanced risk/reward. "We upgrade PFE to Sector Perform from Underperform. Our overall thesis has not changed substantially, but the stock is down -11% from highs this year and is now trading in line with our 9x - 1Y fwd PE valuation." UBS upgrades Cava to buy from neutral UBS says it sees "industry leading unit growth." "We are upgrading shares of CAVA from Neutral to Buy given: 1) solid sss [same-store sales] outperformance vs. peers even in a tough macro backdrop; 2) catalysts exist to sustain sss momentum at or above the growth algorithm over the longer-term, w/ support from UBS Evidence Lab data..." Read more. Piper Sandler initiates SharkNinja as overweight Piper says the company has an "impressive track record." "We are initiating coverage of SN with an Overweight rating and $150 PT." Bank of America upgrades STMicroelectronics to buy from neutral Bank of America says it sees a slew of positive catalysts ahead. "We upgrade STM from Neutral to Buy with new PO of €86/US$100 (was €71/US$83). We expect STM to benefit from multiple drivers incl. (A) growing share in optical interconnects, (B) LEO satellites, (C) a nascent recovery in Autos/Industrial..." RBC downgrades Nike to sector perform from underperform RBC says the turnaround is taking longer than expected. " Nike turnaround under Elliott Hill is making progress, but slower and narrower than we were anticipating. World Cup + ongoing clean up activities + lack of growth engines are unlikely to deliver sustained inflection in revenue trends for remainder of cal-2026 leaving little to play for near term." UBS upgrades BorgWarner to buy from neutral UBS says the auto supplier is positioned to benefit from "non-auto opportunities." "We are upgrading BWA to Buy, $95 PT seeing them as the supplier best positioned to benefit from non-auto opportunities." Jefferies reiterates Netflix as buy The firm cut its price target to $110 per share from $128 but are sticking with the stock. "While not a catalyst-rich setup, we see a scenario for NFLX to work again with 1) modest improvement in hours per sub declines in 1H26, 2) potential OM upside later in the year,.." JPMorgan initiates Bel Fuse as overweight JPMorgan says the electronic circuits company for the aerospace company is firing on all cylinders. "We are initiating coverage of Bel Fuse (BELFB) with an Overweight rating and a YE27 $370 price target, representing ~30% upside potential from current valuation levels." JPMorgan upgrades Ilumina to overweight from neutral JPMorgan said in its upgrade of the stock that shares have plenty more room to run. "We have been on the sidelines this year with a Neutral rating, looking for more visibility into the competitive landscape in addition to Academic & Government (A & G) budget constraints. That said, over the last few quarters we have become more comfortable with ILMN's customer stickiness, particularly among large, high-growth clinical customers." Evercore ISI upgrades Devon Energy to outperform from in line Evercore says it sees "improving capital efficiency. "Upgrading DVN to Outperform; mid-month update provides a clearing event, layering an explicit approach to the portfolio review + synergy and cash-return detail on top of better than expected 2026 capital efficiency." Evercore ISI upgrades Entergy to outperform from in line Evercore says it's more bullish following the company's investor day. "We came away from Entergy's 2026 Investor Day with incremental confidence in the company's ability to attract and execute on its large load opportunity." Wells Fargo reiterates Chipotle as overweight The firm measured the weight of the company's burrito bowls to determine consistency. "We did it again. To measure CMG consistency/value, we weighed 75 burrito bowls (8 NYC locations; 50% in store, 50% digital). Compared to June '24, variance narrowed by 50% (i.e. smallest bowl +22% heavier); Investment in bowl consistency paying off." Truist upgrades Global-E Online to buy from hold Truist says it sees "underlying market growth." "We are upgrading Global-e to Buy as we have become more optimistic regarding Global-e's volume growth driven by a combination of strong underlying market growth, recent strength in new merchants added."
<small>Source: CNBC</small>
