Ratings Weekly | Nvidia, Walmart, AMD, Micron, Intel and More to Watch

What's causing a stir on Wall Street this week? Let's dive into the top 5 Buy recommendations and the top 5 Sell recommendations made by top analysts from October 13-17.

Top 5 Buy Recommendations:

1. HSBC upgrades Nvidia to Buy on projected earnings growth

HSBC has upgraded Nvidia (NVDA) from Hold to Buy, raising the price target from $200 to $320. The firm anticipates substantial earnings growth for Nvidia in fiscal 2027, driven by renewed strength in chip allocation on wafer on substrate technologies. Notably, Nvidia's assertive fiscal 2027 CoWoS wafer projections at TSMC (TSM) are expected to boost datacenter revenue estimates. HSBC also foresees a potential recovery in the Chinese market following a possible easing of uncertainties related to China’s graphical processor unit, contingent on a U.S.-China trade resolution. HSBC's EPS estimate for fiscal 2027 stands at $8.75, significantly exceeding the consensus of $6.48, despite excluding revenues from chip exports to China.

2. BTIG initiates coverage on Walmart with a Buy rating

BTIG has initiated coverage on Walmart (WMT) with a Buy rating and a $120 price target. The analyst notes that Walmart's integrated digital and physical strategy is proving beneficial to both customers and shareholders. Additionally, under CEO Doug McMillon's leadership, the company is well-positioned for continued market share and profit growth despite macroeconomic pressures.

3. AMD upgraded to Outperform by Wolfe Research

Wolfe Research has upgraded AMD (AMD) from Peer Perform to Outperform, with a price target set at $300. Following AMD's win with OpenAI, Wolfe sees potential for $10-plus EPS. The firm believes that AMD just needs to execute effectively, and there is room for estimate increases if the company gains traction beyond OpenAI. Near-term estimates may also rise due to strength in traditional servers.

4. BTIG initiates coverage on Costco with a Buy rating

BTIG has initiated coverage on Costco (COST) with a Buy rating and a $1,115 price target. The firm highlights Costco's strong customer loyalty, which is expected to drive traffic and sales growth. BTIG calls the recent dip in Costco’s shares a buying opportunity, forecasting continued market share gains and benefits from high membership renewal rates and value proposition.

5. BNP Paribas Exane upgrades Micron to Outperform

BNP Paribas Exane has upgraded Micron (MU) from Underperform to Outperform, with the price target soaring from $100 to $270. The firm now fully recognizes high-bandwidth memory as a sustainable growth vector and believes both Micron and the broader market are at the early stages of a memory supercycle.

Top 5 Sell Recommendations:

1. Goldman Sachs downgrades PayPal to Sell

Goldman Sachs has downgraded PayPal (PYPL) from Neutral to Sell, setting a price target at $70. The firm expects several transaction margin headwinds for PayPal in 2026, including rising interest rates and the lapping of a reacceleration in its credit products. Additionally, Goldman sees limited visibility for the company's branded checkout recovery in the near term due to softer trends in Germany, tariff disruptions in the U.S., and competing wallet forms.

2. BofA downgrades Intel to Underperform

BofA has downgraded Intel (INTC) from Neutral to Underperform, maintaining the price target at $34. The firm argues that the recent $80 billion market cap increase more than accounts for improved balance sheet and external foundry potential while still facing competitive challenges with its AI portfolio, server CPUs, and flexibility issues in divesting loss-making manufacturing. BofA believes Intel’s stock has surged "too far, too fast" considering the company’s ongoing fundamental challenges.

3. BofA downgrades Texas Instruments to Underperform due to macro pressures

BofA has downgraded Texas Instruments (TXN) from Neutral to Underperform, lowering the price target from $208 to $190. Despite recognizing the high quality of TI’s assets and consistent execution, the firm is concerned that global tariff turmoil may suppress near- to medium-term industrial demand improvement. BofA has also lowered its FY26 and FY27 EPS estimates by 3%, with the new projections falling 8% and 13% below consensus, respectively.

4. Rothschild & Co Redburn downgrades GE Vernova to Sell

Rothschild & Co Redburn downgraded GE Vernova (GEV) from Neutral to Sell, with a $475 price target. The firm's reverse discounted cash flow analysis indicates the shares are "materially overvalued." Additionally, the upgrade cycle for Siemens Energy and GE Vernova may be nearing its peak, posing downside risks. Rothschild's analysis suggests GE Vernova’s valuation assumes record margins in Power and Electrification indefinitely.

5. Rothschild & Co Redburn downgrades Verisk Analytics to Sell

Rothschild & Co Redburn downgraded Verisk Analytics (VRSK) from Neutral to Sell, with a price target of $220. The firm notes that downside risks are not fully reflected in the share price. The acquisition of AccuLynx is expected to dilute Verisk's invested capital significantly, requiring increased leverage. Rothschild also highlights that Verisk is investing heavily in artificial intelligence to maintain its market position in a potentially disruptive industry. Despite these investments, the firm finds Verisk’s valuation "still too rich" considering declining organic sales growth.