Here are Friday's biggest analyst calls: Nvidia, Apple, Microsoft, Ulta, Netflix, Broadcom, Roblox, Walmart, Honeywell & more

Wall Street analysts issued a range of significant calls, with Evercore ISI reiterating Nvidia as Outperform and raising its price target to $214 ahead of earnings, citing strong AI growth prospects. Other notable upgrades included Ulta Beauty (Barclays) and Roblox (Wolfe), while Wells Fargo initiated Dorman Products as Overweight, highlighting its defensive qualities. Conversely, Barclays downgraded Gap to Equal Weight due to tariff pressures and macro uncertainty, and Guggenheim downgraded Paramount Skydance on valuation, reflecting a mixed sentiment across various sectors.

Analysis

A wave of analyst optimism is centered on the technology sector, particularly in artificial intelligence and semiconductors. Evercore ISI expressed strong conviction in Nvidia (NVDA) ahead of its earnings, raising its price target to $214, while JPMorgan reiterated its overweight rating on Microsoft (MSFT), citing a 4-point acceleration in Azure growth to 39%. This bullishness extends to Broadcom (AVGO), which saw a price target increase to $315 from Piper Sandler. The consumer sector presents a more mixed picture; Barclays upgraded Ulta Beauty (ULTA) to overweight based on strategic execution, and Bank of America reiterated a buy on Walmart (WMT) for its market share gains. Conversely, Barclays downgraded Gap (GPS) to equal weight, citing tariff pressures that threaten its double-digit operating margin goals. In media, sentiment is cautious, with Barclays maintaining an equal weight on Netflix (NFLX) due to concerns about market saturation, and Guggenheim downgrading Paramount Skydance (PARA) to neutral on valuation after a recent stock run. Other notable calls include a bullish initiation on auto parts company Dorman Products (DORM) by Wells Fargo as an undervalued defensive play, and an upgrade for Roblox (RBLX) by Wolfe, which raised FY'26 EBITDA estimates by 13% based on platform improvements.

Key Decisions for Investors

• Given the strong analyst conviction and specific growth drivers cited for Nvidia and Microsoft, investors should assess their exposure to the AI and cloud computing theme, especially with NVDA's earnings approaching.
• The consumer sector shows clear divergence, suggesting a strategy of favoring companies with perceived strategic advantages like Ulta Beauty or defensive value propositions like Walmart, while exercising caution with apparel retailers like Gap facing tariff and macro risks.
• Consider opportunities in companies identified as turnarounds or having unique growth engines, such as Netgear (NTGR) for its transformation, Dorman Products (DORM) in the non-discretionary auto aftermarket, or Roblox (RBLX) due to its platform monetization initiatives.
• Exercise caution in the media sector, as valuation and market saturation are becoming primary concerns, reflected in the downgrade of Paramount and the neutral rating on Netflix.