Here are the biggest calls on Wall Street on Wednesday: Wells Fargo upgrades Hexcel Group to overweight from equal weight Wells said the composites company is being “unfairly punished” and it has limit exposure to the 737. “We are upgrading HXL to Overweight because we see the numbers rising, the 737 MAX’s risk is less than its peers, and the stock is unfairly punished because of its CEO transition.” Baird upgrades Old Dominion to outperform from neutral Baird upgraded the trucking company following its latest earnings report. “ODFL Upgrade to Outstanding Capability, Still Opportunistic Buyers.” Bank of America reiterates buy on Apple Bank of America maintained its buy rating on Apple’s stock following Tuesday’s iPad event. “In addition to the impressive hardware, what we like includes: 1) Apple continues to innovate on its own silicon 2) The advanced neural engine in the M4 chip will enable AI-powered functionality like separation subjects from their backgrounds in 4-K video using Apple Cut Pro’s Final, which detects documents and uses AI to recompose frames and remove shadows in the image…” Morgan Stanley reminds again Nike is overweight Morgan Stanley said Nike stock losses are too much. ” NKE captured the most market share in the global sportswear category of any brand in our analysis on both a year-to-date and 2019 basis.” Citi echoes Reddit buy CIti said it maintained its buy rating following the company’s earnings report on Tuesday. “And as Reddit builds its ad stack, we look for Search (1B+ monthly queries) and video monetization to potentially start in ’24, creating a medium-term catalyst for further growth.” growth.” Barclays reiterates Disney is overweight Barclays said the sell-off in Disney shares following its earnings report was excessive. “We believe concerns regarding theme park earnings growth are overblown and miss some of the nuance behind the guidance framework.” Bank of America reiterates purchase of Rivian Bank of America said it stands by the electric vehicle maker following its earnings report on Tuesday. “RIVN remains in the right place/right time with the right product/strategy.” Rosenblatt downgrades Nasdaq rating to neutral from buy Rosenblatt said in downgrading Nasdaq that “the flywheel needs repair.” “Furthermore, market data revenues are likely to remain under pressure due to the aforementioned loss of market share and tighter regulation, while investors we spoke to seemed more confused than ever about a complex business operations. In general, the flywheel needs repair.” JPMorgan upgraded International Flavors to overweight from neutral JPMorgan upgraded the health products, fragrance and scent company and said it would see growth next year. “We rate IFF Overweight for next year’s performance.” Baird upgrades Datadog to outperform from neutral Baird said investors should buy Datadog shares on the dip. “Buyers are weakening. Following yesterday’s weakness and YTD underperformance, coupled with improving optimization and consumption trends, we are upgrading our rating from Neutral up Better.” Raymond James upgrades Nutanix to outperform market performance Raymond James said the cloud computing company’s shares are bullish. “We have become more bullish on Nutanix’s opportunity to acquire VMware shares following its acquisition by Broadcom. Broadcom’s efforts to improve growth and performance for VMware have resulted in cross-selling and higher-than-expected price increases, which will cause some customers to seek alternatives in certain cases from Nutanix.” Morgan Stanley upgrades Energizer to par with lower Morgan Stanley said in the Energizer upgrade that business fundamentals are improving for the battery company. “Upgrading to EW from UW as valuation looks reasonable after the stock’s underperformance and fundamentals should improve from here.” Roth MKM downgrades Shoals to neutral from buy Roth downgraded the solar company post-earnings. “SHLS issued a mixed Q1 outlook, a weak Q2 and lowered its recently issued 2024 guidance.” Bank of America initiates purchase of Sutro Bank of America said it is bullish on the biotech company’s shares. “We initiate coverage on Sutro (STRO) with a Buy rating and $12 PO.” Goldman Sachs downgrades ZoomInfo to sell from neutral Goldman said the trend for the information software company is weakening. “We downgrade ZI to Sell (from Neutral) and lower our PT to $12 from $19.50.” Barclays downgrades Victoria’s Secret from equal to lightweight Barclays said the lingerie company is losing market share. “We downgrade VSCO shares to Underweight based on: 1) expectations of negative revenue persisting through 2024; 2) Heightened promotions from the beginning of the year continue despite cleaner inventory; and 3) earnings and EPS risks coupled with multiple contraction valuations.” Deutsche Bank upgrades Boston Beer to keep it from selling Deutsche upgraded the stock mainly due to valuation. “However, we are also less pessimistic about SAM’s better overall management capabilities. [profit and loss]—note that trends in 1Q24 were objectively better than expected, with shipments and declines, revenue, gross margin, operating profit, and EPS all higher than expected expectations.” Bank of America reiterates Nvidia and Micron on purchases Bank of America said it maintains buy ratings on both Nvidia and Micron. “Broadly speaking, beneficiaries of PC AI adoption include INTC, AMD , ARM, NVDA and potentially memory vendors like MU as AI-enabled devices will likely receive memory spec upgrades, complementing the memory industry’s strong AU leverage well In this century. data centers.” Stephens upgrades Redfin to overweight from about weight Stephens sees some positive catalysts ahead for the real estate company. “We are upgrading shares of RDFN to OW from EW and increased our PT to $9 (from $8).” Bank of America reiterates Madison Square Garden Entertainment’s purchase Bank of America said sports teams and arena owners could benefit from the Knicks and Rangers playoff game “MSGE’s strong market position will continue to help the company benefit from demand for live entertainment/music events at Barclays,” reiterated Block Barclays said it sees the stock as likely to be added to the S&P 500 Index. “We see an increasing likelihood of SQ being included in the S&P 500 – and a potential catalyst,” UBS reiterated Buying Ferrari UBS sees “attractive entry point” for Ferrari shares following Tuesday’s earnings report “Defensive equity story amid industry backdrop; Repeat Buy.”