Wall Street analysts update ratings on SpaceX, Netflix and Apple

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Highlights

Morgan Stanley reiterates Netflix as overweight but cuts its price target, citing double-digit revenue growth yet $300 million advertising shortfall for the year.
SpaceX receives overweight reiterations from Morgan Stanley after a Q3 beat and a positive outlook, with Citi adding a 90-day catalyst watch noting potential industry impact from Flight 15.
Needham downgrades Netflix to hold from buy on post-earnings negative data, while Baird upgrades Northrop Grumman to outperform after a beat and raised long-term growth guidance for 2027–2028.

SpaceX and earnings drive Wednesday calls

As reported by CNBC, Wednesday's biggest analyst calls center on post-earnings reactions and valuation resets, with SpaceX emerging as a key focus for several firms alongside Netflix and other large-cap names.

Morgan Stanley reiterates Netflix as overweight while lowering its price target, saying the streaming group continues to post double-digit revenue growth with a more balanced contribution from membership and pricing. The firm also says advertising is tracking about $300 million below expectations for the year.

Morgan Stanley also reiterates SpaceX as overweight after earnings on Tuesday, describing the company as only now becoming more interesting after a big third-quarter beat and a stronger outlook. Citi adds a positive 90-day catalyst watch on SpaceX, saying the company is firing on all cylinders and pointing to its record of beating expectations, as well as the potential industry impact of Flight 15.

UBS reiterates Apple as neutral, saying survey checks indicate wait times for the foldable iPhone will continue to trend lower globally. Needham, meanwhile, downgrades Netflix to hold from buy, arguing that negative data points after earnings suggest the company's strategic position is weakening against rivals including YouTube, Disney and Sky.

Upgrades and downgrades reshape sector outlooks

Piper Sandler upgrades DigitalOcean to overweight from neutral and says investors should buy the dip, even as it lowers its price target to $126. TD Cowen downgrades Chipotle to hold from buy, citing concern that October sales are shaping up to miss the fourth-quarter inflection point it had expected.

Jefferies upgrades Chagee Holdings to buy from neutral, pointing to a sustainable recovery for the China tea company and possible shareholder returns. Rosenblatt initiates Robinhood with a buy rating and a $135 price target, calling the company a generational growth story, while RBC downgrades Mobileye to underperform from sector perform on valuation concerns.

Raymond James upgrades Prologis to outperform from market perform, describing the recent pullback as a buying opportunity. UBS upgrades Clean Harbors to buy from hold on improving fundamentals, and Baird upgrades Northrop Grumman to outperform from neutral after earnings, citing a beat and raise as well as management's bullish long-term growth commentary for 2027 and 2028.

Roth initiates AIR Global as buy with an $11.50 price target. Oppenheimer upgrades Zoom to outperform from perform after attending the company's Zoomtopia conference, saying confidence is growing in its shift toward a broader AI communications and workflow platform.

Evercore ISI upgrades Fifth Third to outperform from in line, saying a stronger fundamental outlook presents valuation upside. Melius reiterates Nvidia as buy and says SpaceX's quarterly results support optimism for names including Nvidia, Dell and CoreWeave, while Barclays downgrades Cirrus Logic to underweight from equal weight on concerns tied to Apple supply chain pressure and a difficult outlook.

Our earlier article covered Elon Musk’s claim that SpaceX would reimburse users for financial losses if Grok makes mistakes during purchases or leaks card details while handling transactions. It also explained why this pledge drew attention as AI agents increasingly manage payments and bookings, raising unresolved questions about liability, user permissions, and the real-world risks of automation in financial activity.

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