Here are the biggest calls on Wall Street on Wednesday:

Daiwa reiterates Apple as outperform

The Japanese bank lowered its price target on the stock to $230 per share from $240 but says it ’ s standing by Apple.

"We see AI as being the key to future growth and are waiting for more Apple Intelligence features which will create excitement in users. Eventually, we see a multi-year phone and PC upgrade cycle and the shares as a core holding."

Bank of America reiterates Advanced Micro Devices as buy

Bank of America sees "multiple growth cylinders" for the stock following earnings.

"We rate AMD Buy. It serves a multi-hundred billion addressable market opportunity in PC, server, high-end gaming, deep-learning and related markets where AMD has less than 30% value share currently."

Baird upgrades Monday.com Ltd. to outperform from neutral

Baird says investors should buy the weakness in shares of the project management software company.

"We are upgrading MNDY to Outperform as we see the company leveraging its early [ collaborative work management ] lead to execute on this opportunity."

Barclays raises Archer-Daniels Midland to equal weight from underweight

Barclays says it sees several positive catalysts ahead for the food processor.

"We upgrade ADM to EW and lift our PT to $61 ( from UW and prior PT $50 ) due to improvements in Nutrition and a recovering crush outlook."

Morgan Stanley reiterates Home Depot and Lowe's as overweight

Morgan Stanley says both home improvement stocks remain "compelling."

"We stay Overweight both HD & LOW given compelling cyclical risk/reward, and we prefer HD for its greater share gain potential."

Jefferies upgrades Leidos to buy from hold

Jefferies said in its upgrade of Leidos that it ’ s bullish on the aerospace engineering company.

"Our Buy rating is based on 1 ) Solid organic growth, in-line or above peers amid budget uncertainty; 2 ) Planned pivot away from lower margin work weighs on out year growth; and 3 ) ability to re-rate higher on above market Defense Systems growth, potentially unlocking Defense Tech-type multiples"

Loop reiterates SUPER MICRO COMPUTER INC as buy

Loop says it ’ s sticking with Super Micro shares following earnings on Tuesday.

"We reiterate our Buy rating while lowering our PT to $60 from $70."

Canaccord reiterates Rivian Automotive, Inc. as buy

Canaccord says it ’ s sticking with shares of Rivian following Tuesday ’ s earnings report.

"We remain patient in our BUY rating. Yes, earnings revisions for some time have been frustrating. But, are we approaching the height of our frustration? Reg credits are now gone, and earnings revisions may soon be nearing bottom."

Citizens JMP downgrades Snap Inc to market perform from outperform

The bank downgraded the stock following Tuesday ’ s earnings report.

"We are downgrading Snap to Market Perform from Market Outperform following 2Q25 earnings as advertising revenue grew just 4% Y/Y in 2Q25, suggesting share loss to other scaled ad platforms, while North American [ daily active users ] fell 1M Q/Q for the second consecutive quarter."

Bank of America adds Progressive to the US1 list

The firm added the auto insurance company to its top picks list.

"We are adding Progressive Corp. ( PGR ) to the US 1 List."

Deutsche Bank reiterates Microsoft as buy

The German bank says the tech giant is well positioned for AI.

"Overall, Microsoft has noted that leaning in on AI among other things it is baking in double-digit productivity gains across most of its business processes and contributing to stronger operating margins."