Here are Wednesday ’ s biggest calls on Wall Street:

Goldman Sachs reiterates Apple as buy

Goldman said it ’ s sticking with its buy rating heading into Apple ’ s iPhone event next week, but that the stock ’ s response may be muted.

"We reiterate our Buy rating on AAPL and believe that new product innovation for the iPhone 16 ( e.g., continued processor innovation, larger display sizes, improved camera features ) coupled with new AI features should drive upgrades and installed base growth."

Compass Point initiates Visa as buy

Compass said it ’ s bullish on shares of the payment company.

"We are initiating Visa as a Buy with a price target of $319.."

Jefferies downgrades Booking Holdings to hold from buy

Jefferies downgraded the stock due to concerns about nightly bookings.

"While BKNG offers peer-leading execution and FCF, we see stock upside capped by risk of downside to Room Nights."

Barclays reiterates Amazon as overweight

Barclays said it ’ s analysis shows that Amazon Prime days may be losing a bit of its luster.

"Eagerness for Prime Day sale seems to have faded in 2024 compared to the growth seen from 2021 to 2023. Prime Big Deal Days are keeping Amazon ahead of its competitors, with maximum month-over-month growth of 13% in spend per person in October 2023."

Barclays downgrades Super Micro to equal weight from overweight

Barclays downgraded the stock due to too many negative catalysts.

"We downgrade shares of SMCI on the back of poor GM [ gross margins ] from June-Q earnings and a 10-K filing delay that evidenced several fundamental risks."

Morgan Stanley reiterates Ferrari as overweight

Morgan Stanley said it ’ s sticking with its overweight rating on the luxury vehicle company.

"There ’ s something about the high-end consumer … With RACE shares up 44% YTD, investors have re-rated Ferrari ’ s PE multiple to 50x FY25 on earnings visibility ( high ) , volatility ( low ) and China risk ( outlier low in luxury ) ."

Wells Fargo adds Adobe to the signature picks list

Wells said the stock is a "top way to play GenAI in software."

"Adding ADBE to Wells Fargo ’ s Signature Picks: Top Way to Play GenAI in Software

Wells Fargo adds Microsoft to the signature picks list

Wells said it sees "cloud re-acceleration."

"Adding MSFT to Wells Fargo ’ s Signature Picks: Poised for Cloud Re-acceleration."

TD Cowen upgrades Sweetgreen to buy from hold

TD Cowen said it sees a long runway for growth for the salad company.

"In our view, Sweetgreen ’ s same store sales strength is enduring as our 2025 bridge suggests 5% is achievable relative to 3.8%."

Melius reiterates Nvidia as buy

The firm said it ’ s sticking with its buy rating on the stock.

"Nvidia ’ s Stock is Now About Margins and Feeling Good about CY2026."

Bank of America upgrades Nasdaq to buy from underperform

Bank of America said the index company has a wide moat for growth.

"We are double upgrading Nasdaq ( NDAQ ) to Buy from Underperform. Management has assembled a collection of wide-moat and high-growth businesses in software and information services."

Bank of America initiates Trade Desk as buy

Bank of America said it ’ s bullish on shares of the ad tech company.

"We initiate coverage of The Trade Desk ( TTD ) with a Buy rating and $135 PO."

UBS upgrades Freeport-McMoRan to buy from neutral

UBS said investors should buy the dip in the mining company.

"We Upgrade FCX to Buy as we believe the fundamental outlook for copper remains compelling & positioning is cleaner after the 3Q price correction."

Wolfe upgrades Alcoa to outperform from peer perform

Wolfe said the mining company is a new top pick

"We upgrade to Outperform on a better alumina outlook and more positive catalysts than negative after a sharp selloff. AA becomes our new top pick among miners."

Guggenheim initiates Talen Energy as buy

Guggenheim said the power producer is well positioned.

"We are launching coverage of Talen with a BUY rating and $169 price target ahead of tomorrow ’ s investor day in NYC."

Needham downgrades ResMed to hold from buy

Needham said obesity drugs are a headwind for the sleep apnea device company.

"We continue to expect a modest headwind from GLP-1 drugs but acknowledge that there is a risk it could be worse than we expect. We think that RMD ’ s flow generator share gains have peaked and that mask share gains may be more difficult."