Wall Street broker calls spotlight Nvidia, SpaceX and Boeing optimism

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Nvidia, SpaceX & Boeing optimism

Highlights

UBS reiterates Nvidia as buy, citing strong September Taiwan export data that confirms continued robust AI demand supporting semiconductor momentum.
Barclays initiates Boeing and SpaceX as overweight, calling Boeing's valuation an attractive entry point and setting a $254 12-month price target for SpaceX.
BMO, Piper Sandler, Morgan Stanley, UBS, Citi, Baird, and others issue upgrades or initiations favoring American Express, Mid Penn Bancorp, CBOE, ArcelorMittal, Fortune Brands, Humana, GSK, and more, signaling constructive sector sentiment beyond AI.

Friday analyst actions across sectors

As reported by CNBC, Friday's biggest Wall Street calls span credit cards, aerospace, regional banking, software, healthcare, industrials and semiconductors, with most firms taking a constructive stance on the stocks they cover. BMO initiates American Express as outperform, saying worries about premium card competition and elevated reinvestment miss the continued scaling of the company's premium ecosystem.

Barclays initiates Boeing as overweight and says the current valuation offers an attractive entry point, while it also reiterates SpaceX as overweight with a $254 12-month price target. Piper Sandler initiates Mid Penn Bancorp as overweight, describing the regional bank as being in a sweet spot, and upgrades Jack Henry to overweight from neutral on improved risk-reward and earnings visibility.

Morgan Stanley upgrades CBOE to overweight from underweight, arguing the investment case has changed and the shares are too attractive to ignore. UBS upgrades ArcelorMittal to buy from neutral, citing potential support from organic growth through about 2029 and expectations that EU hot-rolled coil prices rise in the coming months.

Citi initiates Fortune Brands Innovations as buy on what it calls a compelling turnaround opportunity tied to margin recovery, security growth and portfolio streamlining. Baird upgrades Humana to outperform from neutral as confidence builds in longer-term adjusted earnings power, and Rothschild & Co Redburn reiterates Apple as buy while warning the company needs to keep pace with Meta's AI assistant progress.

JPMorgan initiates C4 Therapeutics as buy, Oppenheimer upgrades Fastly to outperform from perform on robust industry checks, and Raymond James initiates Kymera Therapeutics as outperform on attractive risk-reward. Roth starts El Pollo Loco at buy, Guggenheim initiates Ducommun as buy, Wolfe begins coverage on GSK and Southwest Gas Holdings at outperform, and Citizens upgrades Houlihan Lokey to market outperform from market perform.

AI demand and market implications

Among the most closely watched calls, UBS reiterates Nvidia as buy and says September Taiwan export data indicates AI demand remains strong. The firm says the elevated absolute level of exports remains consistent with healthy underlying AI-driven demand, reinforcing a key market theme that continues to support semiconductor and infrastructure names.

Tesla also features in the day's calls, with Yorkville Ives initiating the stock as outperform and describing it as one of the clearest public-market ways to gain exposure to physical AI. Together with the positive calls on Nvidia, Apple and SpaceX, the recommendations show how broker sentiment remains centered on artificial intelligence, platform scale and long-term growth visibility.

The broader mix of upgrades and initiations also suggests analysts are still finding selective value in cyclicals, healthcare and regional financials. Positive calls on Boeing, ArcelorMittal, Humana and Mid Penn Bancorp indicate that firms are balancing enthusiasm for AI with interest in turnaround stories, valuation resets and earnings resilience across other parts of the market.

Our earlier coverage of BMO Capital Markets’ initiation on American Express highlighted the bank’s view that AmEx can benefit from rising demand for premium credit cards as its rewards, retention, and merchant network investments continue to scale the premium ecosystem. We also noted BMO’s argument that elevated reinvestment and competition concerns may be overstated, with fee revenue compounding and billed business growth expected to run ahead of broader Wall Street expectations despite recent share weakness.

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