Here are Wednesday's biggest analyst calls: Nvidia, Apple, Broadcom, Eli Lilly, AT&T, Carvana, Cava, Disney & more

Wall Street analysts issued several notable upgrades and initiations, including KeyBanc upgrading AT&T to Overweight, Deutsche Bank upgrading Sea Ltd to Buy following strong revenue, and Barclays initiating Carvana as Overweight due to its online investment strategy. Conversely, Raymond James downgraded Bath & Body Works to Market Perform, citing near-term challenges. Among key reiterations, Citi raised Eli Lilly's price target to $1,500 on accelerated GLP-1 dominance, while TD Cowen remained bullish on Nvidia ahead of earnings and Bank of America reiterated Advanced Micro Devices as a Buy, highlighting its strong AI roadmap.

Analysis

Wall Street analysts exhibit a predominantly bullish sentiment, with numerous upgrades and positive initiations across diverse sectors. KeyBanc upgraded AT&T to Overweight with a $30 price target, advising investors to buy the dip, while Barclays initiated Carvana as Overweight, citing its strategic investments in online convenience and logistics. Deutsche Bank also upgraded Sea Ltd to Buy following a strong 38% revenue increase, despite growth investments impacting profit.

The technology and healthcare sectors received significant positive attention, particularly in AI and biopharma. Bank of America reiterated Advanced Micro Devices as a Buy, highlighting its strong AI roadmap and a 10%+ AI share target, while Citi raised Eli Lilly's price target to $1,500, anticipating accelerated GLP-1 dominance due to expanded Medicare/Medicaid access. TD Cowen maintained a bullish stance on Nvidia ahead of its earnings, expecting strength from the Blackwell Ultra uplift.

Conversely, Raymond James downgraded Bath & Body Works to Market Perform, citing near-term challenges and a slow realization of digital and product improvements. JPMorgan upgraded Outfront Media to Overweight, projecting outperformance due to its World Cup market exposure, strong transit momentum, and attractive cash returns. Additionally, Piper Sandler upgraded Floor & Decor, expecting healthy comparable sales improvement by Q1 2026, independent of a broader housing recovery.

Key Decisions for Investors

• Consider increasing exposure to companies with strong AI roadmaps and expanding market access in healthcare, such as AMD and Eli Lilly, given their clear growth catalysts.
• Evaluate firms like Carvana and Outfront Media that are undergoing strategic operational improvements or benefiting from specific market exposures, as these factors are driving analyst upgrades.
• Exercise caution with consumer discretionary stocks facing near-term challenges and prolonged improvement timelines, as exemplified by the Bath & Body Works downgrade.
• Monitor specific turnaround catalysts for companies like Ichor Holdings, where upgrades are based on recent resets, trough margins, and leadership changes, indicating potential asymmetric upside.