Here are the biggest calls on Wall Street on Friday: Morgan Stanley upgrades Novartis to equal weight from underweight Morgan Stanley mentioned in its improve of Novartis that development is bettering on the biopharma firm. “Valuation remains demanding for the growth profile, but growth quality is higher and we see room for upside (commercial execution and pipeline).” Goldman Sachs upgrades Diageo to impartial from promote Goldman Sachs upgraded the beverage firm on valuation. The agency says it sees restricted draw back for Diageo. “We see limited downside risk in FY26, as new management steps-up cost saving to support best-in-class margins and stabilise earnings, albeit visibility remains low and the outlook is based on a 2H recovery.” Barclays downgrades Crocs to equal weight from chubby Barclays downgraded the shoe firm and says fundamentals are worsening. “We are downgrading shares of CROX to Equal Weight based on: 1) ongoing macro uncertainty that is depressing the forward order book, 2) a shift to athletic footwear purchasing behavior in the US consumer base…” Jefferies initiates James Hardie as purchase Jefferies says the cement producer is poised for a re-rating. ” JHX is a rare secular growth story, driven by material conversion, with leading mkt positions in well-structured industries that allow it to outgrow the mkt consistently & take price.” Bernstein reiterates Nvidia as outperform Bernstein says it’s sticking with Nvidia shares. “The datacenter opportunity is enormous, and still early, with material upside still possible.” Piper Sandler upgrades Monster Beverage to chubby from impartial Piper Sandler says development is bettering for Monster. “We have been overly careful to ensure that the energy category’s inexplicable 2024 funk was in the rear-view and that MNST’s better momentum could return, but it now looks like it is clearly in hand.” Piper Sandler upgrades GoDaddy to chubby from impartial Piper Sandler says shares of the web site area firm are oversold. “We are upgrading GDDY to Overweight with a $182 PT as we believe shares have entered oversold territory. GoDaddy.” Goldman Sachs upgrades Peloton to purchase from impartial Goldman Sachs says Peloton’s earnings report on Thursday proves {that a} turnaround is underway. “Mgmt Frames Path Forward; Platform to Capitalize on Health/Fitness Initiatives; Upgrade to Buy.” Read more. Truist upgrades Gilead Sciences to purchase from maintain Truist upgraded the biotech firm following earnings and says it likes its HIV phase. ” GILD beat 2Q25 expectations for sales and EPS, driven by the HIV segment.” Melius reiterates Apple as purchase Melius raised its value goal on Apple shares and says it’s sticking with the inventory. “Target Increases to $260 from $240, Reflecting ~28x our FY27 Estimate. The 2.4B+ installed base and its high customer satisfaction are both intact at Apple.” Deutsche Bank upgrades E.l.f. Beauty to purchase from maintain Deutsche Bank mentioned in its improve of the wonder inventory that “opportunity knocks.” “Heading into yesterday, on the back of FY1Q26 results, we said that despite many moving parts, we did not think a significant downward move in ELF’s stock was warranted. However, on Thursday, ELF’s stock declined -9.5% leaving the stock below $100 and presenting in our view an attractive entry point with compelling 20%+ potential upside.” Goldman Sachs reiterates Live Nation as purchase Goldman Sachs says it’s sticking with the leisure concerting and ticket firm following earnings. “We reiterate our Buy rating on shares of Live Nation and increase our Price Target to $168 ($162 prior) following 2Q25 results that featured better than expected performance in Concerts, and ~in-line Sponsorships & Ticketing.” Deutsche Bank initiates Bowhead as purchase Deutsche Bank says shares of the insurance coverage firm have more room to run. “Given the uncertainty around the future path of interest rates, we prefer companies like Bowhead that haven’t yet optimized their investment income.” Bank of America downgrades Trade Desk to underperform from purchase Bank of America double-downgraded the software program advert firm following earnings. “While we continue to believe TTD can be a double-digit topline grower, we believe it is challenging to justify the premium multiple it has historically received. As a result, when comparing to more traditional ad-tech peers, we see potential downside to current levels and downgrade to Underperform. Our new $55 PO (vs $130 prior) is based on 20x our lower CY26E adj. EBITDA.” Bank of America upgrades LegalZoom to purchase from underperform The agency says the net authorized firm is nicely positioned for synthetic intelligence. “We upgrade LZ from Underperform to Buy as mgmt. has executed a substantial portion of the shift toward Subscriptions, while also adding strategic AI collaborations.” Read more. Goldman Sachs upgrades Cushman & Wakefield to purchase from promote Goldman Sachs double upgraded the business actual property firm and says it sees tailwinds in worldwide. “We are updating our CWK estimates following strong 2Q25 results (where management meaningfully raised guidance), and following our analysis deconstructing CWK’s EMEA margin gains.” Benchmark upgrades Instacart to purchase from maintain Benchmark upgraded the inventory following earnings on Thursday. “And it appears sustainable as CART continues to benefit from competitive pressures facing regional/smaller grocers that need its platform to compete with mass merchants and online pure plays like Walmart and Amazon Fresh, respectively.” Deutsche Bank reiterates Block as purchase Deutsche Bank says development is accelerating following earnings on Thursday. ” XYZ cleared the high bar investors had set heading into 2Q25 earnings, delivering a strong beat and raise driven by material outperformance in Cash App and an acceleration at Square.” Morgan Stanley reiterates Pinterest as chubby Morgan Stanley lowered its value goal to $41 per share from $45 following earnings however says it’s sticking with the inventory. “For PINS, faster growth likely needed to durably rerate stock, lower PT to $41, remain OW.” Bank of America reiterates SharkNinja as purchase The agency says gross sales tendencies are accelerating following the house merchandise firm’s earnings report on Thursday. ” SN reported 2Q25 adjusted EPS of $0.98 (vs. our $0.82) as sales increased 15.7% y/y with upside led by Food Prep appliances (+53.0% vs. our 20.0% est.) driven by strong sales of SLUSHi and ice cream makers.”