Wall Street analysts lift outlook on Netflix, SpaceX and Nvidia in latest stock calls

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Highlights

Deutsche Bank upgrades Netflix to buy from hold despite lowering its price target to $95 from $100 after updated Q2 earnings estimates.
TD Cowen initiates SpaceX as buy and CLSA follows, both citing Starship's central role and significant AI and space market opportunities.
Citi reiterates Nvidia as buy after its expanded buyback announcement, emphasizing AI-driven free cash flow growth and potential for increased shareholder returns.

Brokerage calls span technology, consumer and healthcare

As reported by CNBC, Deutsche Bank upgrades Netflix to buy from hold, saying the stock is compelling at current levels even as it lowers its price target to $95 from $100 after updating estimates following second-quarter earnings.

Bank of America reiterates Apple as buy and says concerns around discovery and referral risks are overdone, while Citi reiterates Nvidia as buy after the chipmaker's expanded buyback announcement. Citi says the move reinforces Nvidia's view that AI-driven free cash flow growth can support strategic investment and shareholder returns.

TD Cowen initiates SpaceX as buy, citing what it calls a mammoth AI and space opportunity, and CLSA also starts coverage with a buy rating, arguing Starship is central to the company's value proposition. Bernstein initiates AutoZone as outperform, Stifel upgrades Staar Surgical to buy from hold, and Roth starts Nautilus Biotechnology with a buy rating.

Wells Fargo upgrades Main Street Capital to overweight from equal weight, saying earnings upside remains possible despite tight dividend coverage. Melius also upgrades Kroger to buy from hold, pointing to what it sees as a disconnect between earnings growth and valuation.

Ratings changes signal broader sector themes

JPMorgan upgrades Bloomin' Brands to neutral from underweight after meetings with management, but downgrades PepsiCo to neutral from overweight on concerns that North American trends are likely continuing to underperform expectations once temporary tailwinds are excluded.

Goldman Sachs reinstates Baker Hughes as buy and starts Adaptive Biotechnologies with a buy rating, while Oppenheimer initiates FuelCell Energy as outperform and Evercore ISI launches coverage of Butterfly Network at outperform. JPMorgan also initiates AbCellera as overweight, adding to a series of positive calls in healthcare and biotechnology.

Elsewhere, StoneX initiates Gorilla Technology Group as buy and TD Cowen reiterates Dell as hold after investor meetings with management, while raising its price target. Taken together, the recommendations suggest analysts remain focused on AI exposure, cash generation, operational execution and selective valuation opportunities across multiple sectors.

In our earlier article on Deutsche Bank’s upgrade of Netflix, we noted the bank argued the September selloff created a buy-the-dip opportunity even after it trimmed its price target. We also highlighted Deutsche Bank’s view that Netflix’s growing international production footprint and global scale strengthen its competitive position despite lingering concerns about user engagement and a weak year for the stock.

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