Here are the biggest calls on Wall Street on Tuesday: Argus upgrades Chipotle to buy from hold The firm said it sees a “return to growth.” “We are upgrading the stock of fast-casual restaurant chain Chipotle Mexican Grill ( NYSE: CMG) to BUY from HOLD.” Bank of America initiates Full Truck Alliance as buy Bank of America said the “uber for freight” company has an attractive risk/reward. “We initiate coverage on Full Truck Alliance ( FTA) with a Buy rating and a PO of US$11.3, implying 33% total-return potential.” Bank of America initiates Alto Neuroscience at buy Bank of America said the psychiatric disorder biotech company is “promising.” “We initiate coverage of Alto Neuroscience (ANRO) with a Buy rating and $35 PO. ANRO is a clinical-stage biotech company using a proprietary machine learning platform to develop precision medicines for neuropsychiatric disorders.” Goldman Sachs reiterates Apple as buy Goldman said Apple’s App Store revenue could be an “overhang” on the stock. “Apple App Store global net revenue (per Sensor Tower) decelerated to +5% yoy in April 2026 (v. +6% yoy in March 2026), driven by (a) slower spending trends in the U.S. (-5% yoy v. -2% yoy in March 2026) offsetting improving growth in China and Japan, and (b) slower spending trends in Games and Photo & Video categories.” Jefferies reiterates CoreWeave as buy Jefferies raised its price target on CoreWeave to $160 per share from $120. “Given its leadership in hosting high-performance compute at scale, against a multi – $T opportunity over next couple yrs, we believe the valuation is compelling relative to its strategic importance.” Read more. JPMorgan upgrades Cogent to overweight from neutral JPMorgan said investors should buy the dip. Full story “Following Monday’s pullback, we upgrade Cogent t o Overweight (from Neutral), driven by (1) a continued favorable mix shift toward On-Net and Waves revenue and (2) further progress on the sale of its data centers, which we believe will enable Cogent to reduce debt and refinance its 2027 unsecured notes.” Raymond James upgrades Devon Energy to strong buy from outperform Raymond James said the energy company is “embracing” AI. “In 2025, DVN exceeded all expectations with their business optimization plan. We’ve spent considerable time with management and are confident in their ability to not only achieve the merger synergies ($1B), but likely exceed that target in both magnitude and timing.” UBS initiates Constellium at buy UBS said the aluminum products company is undervalued. “We initiate CSTM Buy, believing the market is too bearish on US Used Beverage Can (UBC) spread normalization that we believe will be sustainably higher in the next 2-3yrs due to S232 tariffs.” UBS initiates Ultra Clean Holdings at buy UBS initiated research coverage of the provider of ultra-high purity cleaning and analytical services for the semiconductor industry and said shares have more room to run. “We initiate coverage of Ultra Clean Holdings (UCTT) with a Buy rating and $130 PT (78% upside).” Bank of America reiterates Amazon as buy Bank of America said Amazon Supply Chain Services has a large total addressable market. ” Amazon announced Amazon Supply Chain Services , opening its entire end-to-end logistics network to all businesses (including those that do not sell on Amazon) and handling everything from raw materials to finished products.” Citizens initiates Biomea Fusion at market outperform The firm said the biotech company has a “differentiated diabetes solution. “We initiate coverage on Biomea Fusion (BMEA) with a Market Outperform rating and a $9 risk-adjusted, DCF-derived price target.” Wolfe reiterates Tesla as peer perform Wolfe said momentum may be hard to find for Tesla heading into the rest of the year. “This is ultimately a catalyst driven stock. And while the Bulls will continue to focus on the long-term (which, as we’ve discussed previously is compelling, especially as TSLA r apidly reduces robotaxi cost/mile & achieves scale with Optimus), we think it could be tough for the shares to find momentum near-term, especially as competitors continue to ramp-up.” Bank of America upgrades Ulta Beauty to buy from neutral Bank of America said it sees multiple expansion. “We are upgrading ULTA t o Buy from Neutral; we expect consistent sales growth with better flowthrough to be rewarded with a higher multiple. We had been concerned that F25’s outsized investment was less of an outlier and more of the cost to stay competitive in the ever-changing beauty industry.” Bank of America reiterates Palantir as buy The bank said it’s sticking with the stock following earnings. “The market is moving from AI curiosity to AI consequence, and Palantir is the leader in this transition without engaging in a race to the bottom. We reiterate our Buy rating and PO of $255.” Bank of America downgrades Lowe’s to neutral from buy Bank of America reinstated coverage of the stock and says the risk/reward is balanced. “We are reinstating coverage of LOW w ith a Neutral rating. Shares trade at 17x P/E, a 13% discount to Home Depot (HD), near a 5-year relative peak. We think the risk/reward is balanced at these levels given earnings growth is constrained (we forecast a 3% 2yr EPS CAGR) and lacks a catalyst as housing activity stays subdued.” Seaport initiates Lam Research and Applied Materials at buy Seaport said the wafer fabrication equipment companies have plenty of upside. “We are initiating coverage of AMAT with a Buy rating and $500 PT, LRCX w ith a Buy rating and $300 PT, and ACMR with a Buy rating and $75 PT.” Bank of America reinstates Home Depot as buy Bank of America reinstated coverage of the stock and called it “compelling.” “HD is our preferred stock within the home improvement sector; we think HD’s comp growth will outperform driven by higher Pro penetration and expect traffic trends will hold up better than peers as we move past industry wide price increases in 2H” Stephens upgrades Cullen/Frost to overweight from equal weight Stephens said it sees “profitability and growth” for the financial holding company. “We’re upgrading CFR to Overweight as we believe EPS benefits of its organic expansion strategy will accelerate and will incrementally contribute to the Company’s profitability and growth.” Cantor Fitzgerald initiates Energy Vault Holdings at overweight Cantor said it’s bullish on the energy infrastructure company. “We are initiating coverage of NRGV with an Overweight rating and 12- month price target of $7.00.”
Here are Tuesday’s biggest analyst calls: Apple, Tesla, CoreWeave, Amazon, Palantir, Home Depot & more
May 8, 2026
