Here are the biggest calls on Wall Street on Wednesday. Goldman Sachs reiterates Broadcom as buy Goldman raised its price target to $500 per share from $480 ahead of Broadcom earnings. "We believe expectations are modestly elevated heading into the print, as CapEx spending patterns at key customer accounts remain strong." Oppenheimer upgrades Rubrik to outperform from perform The firm says it sees product strength. "We are upgrading Rubrik (RBRK) to Outperform (from Perform) and establishing a PT of $85, predicated on our strong checks from value-added resellers." Baird initiates Pinnacle Financial as outperform Baird says the risk/reward is too attractive to ignore. "We are initiating coverage of PNFP with an Outperform rating and $115 price target." William Blair reiterates Nvidia as outperform The firm says it's bullish on Nvidia earnings after the bell on Wednesday. "We expect Nvidia will report another beat-and-raise quarter this week, with second-quarter revenue guidance likely to exceed $90 billion." Needham initiates QuickLogic Corporation as buy Needham says the semis company has revenue upside. "We are initiating coverage of QuickLogic with a Buy rating and establishing a $22 PT." UBS upgrades Packaging Corp to buy from neutral UBS says the company has pricing power. "We upgrade PKG from Neutral to Buy, as we expect the $50/ton June price hike to stick amid improving demand and tight supply. High utilization and prior capacity cuts (10% of industry) support pricing power, potentially adding ~$290M in annualized EBITDA (half in 2026)." Jefferies upgrades C.H. Robinson to buy from hold Jefferies says the transport company has balance sheet optionality. 'We are upgrading CHRW to Buy following a recent HQ visit, which materially reinforced our conviction across three key dimensions: (1) a technology & productivity transformation that we believe is still in early innings, (2) a post- Montgomery regulatory environment that structurally favors scaled brokers, and (3) a balance sheet that positions CHRW as a natural consolidator" TD Cowen upgrades Ermenegildo Zegna to buy from hold TD Cowen says the luxury retailer is firing on all cylinders. "We see fundamentals improving, supported by Zegna's durable, vertically integrated core and a clearer path to stabilization at Tom Ford and Thom Browne. As wholesale rationalization moderates and DTC momentum builds, we see improving visibility into earnings growth over time, with operating leverage building more meaningfully beyond FY26." Deutsche Bank upgrades Humana to buy from hold Deutsche says there's still time to buy shares of the healthcare company. "We believe it is not too late to participate in an extended MCO [managed care organizations] rally that is just getting started. We are upgrading shares of HUM, CNC, and ELV to Buy, and we are downgrading CI shares to Hold on valuation." Citi upgrades California Resources and Ovintiv to buy from neutral Citi says both oil and gas exploration companies have plenty more room to run. "The acquisition of Montney peer Arc Resources should bring additional attention to OVV's position in the play, while also potentially spurring funds flow toward OVV, which should offset the AECO pricing headwind. ... CRC Upgrade — CRC's stock pulled back around earnings but we think this presents an opportunity as the value of the core O & G business has improved materially for a variety of reasons..." Raymond James upgrades SM Energy to outperform from underperform Raymond James says the energy company is an Iran war beneficiary. "In our coverage universe , SM has been one of the biggest beneficiaries of the oil move post the Iran war and, despite the run the stock has had, our bullish oil outlook relative to current strip still provides plenty of upside potential." Read more. Bank of America reiterates Alphabet as overweight The firm says Alphabet is ushering in the "next wave of AI Adoption" after attending the company's developer conference. "At I/O 2026, Alphabet introduced a broad range of new AI products, underscoring accelerating velocity of AI innovation. While in prior years Google was playing catch up with AI technology, this year's product announcements leveraged Google's strong Gemini model capabilities and demonstrated increasing leadership in shaping consumer AI experiences." Wells Fargo reiterates Marvell as overweight Wells raised its price target ahead of earnings next week. "While MRVL's > 30x CY27 P/E certainly makes for a tougher set-up into F1Q27 print (5/26), we see AWS Trainium deploy, XPU-attach ramp, and con't Interconnect momentum as driving sufficient upside to support our OW rating; PT to $195 (was $135)." Baird reiterates Amazon as outperform Baird says it's bullish ahead of the company's Prime Day in June. "As previously announced, Amazon will host Prime Day(s) 2026 in June for key markets vs. July in most prior years. Based on our analysis of historical Prime Day revenue trends, we believe current sell-side consensus might understate the 'shift' of revenues from last year's July event into Q2 this year." William Blair initiates Casey's General Stores as outperform The firm says the stock is "compelling." "We are initiating coverage of Casey's General Stores with an Outperform rating. In our view, the most compelling aspect of Casey's is the company's growing credibility as a highly consistent, inherently defensive model and best-in-class operator." Wolfe reiterates Five Below as outperform Wolfe says its checks show that the company's Dumpling event this past weekend was a major success. "On Saturday, FIVE held its first-ever 'Golden Ticket' Dumpling event, featuring a limited-edition golden dumpling with a $1,000 gift card. Our checks suggest the event was a major success, and drove an acceleration in search trends with strong employee feedback." Maxim upgrades Gilead to buy from neutral Maxim says it sees more room for growth and that investors should buy the weakness. "GILD shares have pulled back from an all-time high, now trading at a P/E multiple of 15.1x midpoint 2026 guidance for non-GAAP EPS (ex-acquisitions), in-line with biopharma peers."

NVDA-2.03%

AVGO-0.36%

AMZN-0.66%

MRVL3.41%

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Here are Wednesday's biggest analyst calls: Nvidia, Broadcom, Marvell, Alphabet, Amazon, Five Below & more

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