UBS：继续维持对苹果公司的“中性”评级。该公司表示，其调查结果显示，苹果产品的等待时间（即消费者从下单到收到产品的时间）“基本没有变化”。
Here are Wednesday's biggest analyst calls: UBS reiterates Apple as neutral The firm said its checks show iPhone wait times are "relatively unchanged" for Apple.
“UBS Evidence Lab”收集的数据表明，在全球30多个地区，iPhone的等待时间几乎没有变化。
"UBS Evidence Lab data that tracks iPhone availability across 30+ geographies suggests that wait times were relatively unchanged on a WoW basis."
Wells Fargo：将Pinnacle Financial的评级从“增持”上调至“ overweight”（超配）。
Wells Fargo在评级上调时表示，Pinnacle Financial未来有几个积极的增长因素。
Wells Fargo upgrades Pinnacle Financial to overweight from equal weight Wells said in its upgrade of Pinnacle Financial that it sees several positive catalysts ahead.
“从更长远的角度来看，关键问题在于投资者是否能够对该公司未来17%-18%的净资产收益率（ROTE）保持信心。”
"Looking further out, the key debate is whether investors can gain confidence in a sustainable 17%-18% ROTCE profile post-conversion."
Wells Fargo：将Ally Financial的评级从“增持”下调至“中性”。
Wells Fargo downgrades Ally Financial to equal weight from overweight Wells said it sees less upside.
Wells Fargo认为Ally Financial的上涨空间有限，主要原因是高利率带来的净利息收入（NIM）压力，以及油价上涨和通货膨胀导致的信用环境恶化。
"Downgrading ALLY shares to EW as we believe the stock has less relative upside given the double risk of NIM pressure from higher interest rates and a tougher credit backdrop from elevated gas prices/inflation."
Deutsche Bank：首次推荐FormFactor为“买入”评级。
Deutsche Bank表示，这家半导体测试公司的发展势头非常强劲。
Deutsche Bank initiates FormFactor as buy Deutsche said the semis testing company is firing on all cylinders.
由于FormFactor在人工智能推动的测试强度提升中占据有利地位，且我们对其2028财年的每股收益预期比市场共识高出约45%，我们首次覆盖该股并给予“买入”评级，目标价为200美元。
"With FormFactor well levered to rising test intensity, led by AI, and our 2028E EPS ~45% ahead of cons, we initiate with a Buy rating and a target of $200..."
William Blair首次覆盖CoreWeave并给予“跑赢大盘”评级，称其为“顶级人工智能云”。“CoreWeave已确立了其作为全球许多大型超大规模云服务商和人工智能实验室战略基础设施提供商的地位，拥有约1300亿美元的承诺订单储备，其2026年第二季度的营收预计将达到25.8亿美元，可能超过所有其他新兴云服务商的总和。”
William Blair initiates CoreWeave as outperform William Blair said it's the "premier AI cloud." " CoreWeave has established itself as a strategic infrastructure provider to many of the world's largest hyperscalers and AI labs, with approximately $130 billion of committed backlog and second quarter 2026 revenue of $2.58 billion likely exceeding all other neoclouds combined."
William Blair首次覆盖Nebius Group并给予“跑赢大盘”评级，称Nebius“不仅仅是另一个新兴云服务商”。“Nebius正从GPU算力提供商演变为一个全栈式、原生人工智能云平台，涵盖训练、推理和智能体工作负载，同时在通用超大规模云服务商和更专注于基础设施的人工智能云提供商之间占据了独特的地位。”
William Blair initiates Nebius Group as outperform William Blair said Nebius is "not just another neocloud." " Nebius is evolving from a GPU capacity provider into a full-stack, AI-native cloud platform that spans training, inference, and agentic workloads, while occupying a unique position between general-purpose hyperscalers and more infrastructure-focused AI cloud providers."
美国银行重申对英伟达、英特尔、美光科技和泛林集团的“买入”评级。该机构表示，投资者应持有这五只股票。“第四季度的首选股：NVDA、INTC、MRVL、MU、LRCX。从历史数据来看，第四季度（以及第一季度）是持有芯片股表现最好的两个季节，2010年至2025年期间，其表现中位数比标普500指数高出300至500个基点。”
Bank of America reiterates Nvidia, Intel, Marvell, Micron and Lam Research as buy The firm said investors should own all five stocks. "Top picks into Q4 : NVDA , INTC , MRVL , MU , LRCX. Historically , CQ4 (and CQ1) have been the two best seasonal quarters to own chip stocks, with 300 -500bps of median outperformance vs .
花旗首次覆盖Nuvation Bio并给予“买入”评级，称该公司是“肿瘤学领域的领导者”。“我们首次覆盖Nuvation Bio，给予‘买入/高风险’评级，目标价为12美元。”
SPX from 2010 -25." Citi initiates Nuvation Bio as buy Citi said the company is an "oncology leader." "We are initiating coverage of Nuvation Bio with a Buy/HR rating and $12 TP."
美国银行将Grocery Outlet Holdings的评级从“中性”上调至“买入”，称其看到了具有吸引力的风险回报比。“我们将Grocery Outlet的评级从‘中性’上调至‘买入’，目标价从12.5美元上调至15美元，这是基于我们对其2027财年EBITDA预测的7倍估值。”
Bank of America upgrades Grocery Outlet Holdings to buy from neutral Bank of America said it sees an attractive risk/reward. "We upgrade Grocery Outlet t o Buy (from Neutral) with a PO of $15 (was $12.5) based on 7x our 2027E EBITDA."
Rosenblatt重申对亚马逊的“买入”评级，并将亚马逊的目标价从每股335美元上调至360美元。
Rosenblatt reiterates Amazon as buy Rosenblatt raised its price target on Amazon to $360 per share from $335.
“市场将代理式商务视为对亚马逊广告经济模式的二元威胁，但我们认为这种所谓的颠覆风险被夸大了。”
"The market is treating agentic commerce as a binary threat to Amazon's advertising economics, and we think this perceived disruption risk is overstated."
花旗将莫德纳（Moderna）的评级从“中性”下调至“卖出”。花旗表示，莫德纳的股价已经反映了市场对其“肿瘤学前景的乐观预期”。“总体而言，我们认为基于激进的隐含销售额和不切实际的成功概率（PoS）假设，当前的估值是不合理的，且风险/回报状况呈现负面偏向。目标价现为80美元（此前为60美元）。”阅读更多。
Citi downgrades Moderna to sell from neutral Citi said the "oncology optimism" is priced in for Moderna. "Overall, we believe that based on aggressive implied sales and unrealistic PoS [probability of success] assumptions, the current valuation is unjustifiable with a negatively skewed risk/reward profile.
汇丰将塔吉特（Target）的评级从“持有”上调至“买入”。该机构表示塔吉特股价便宜。“如果考虑到潜在的盈利上行空间，该股看起来并不贵。评级上调至‘买入’（此前为‘持有’）；目标价从125美元上调至190美元。”
TP now $80 (from $60)." Read more. HSBC upgrades Target to buy from hold The firm said Target shares are cheap. "Shares look inexpensive if we include potential earnings upside.
摩根士丹利重申特斯拉（Tesla）为“与大市持平”评级。该机构表示，在特斯拉交付报告发布前，市场趋势显得“好坏参半”。“我们预测2026年第三季度交付量为44.1万辆（同比下降11%，环比下降8%），原因在于2025年第三季度税收抵免政策带来的高基数效应、美国/中国市场需求疲软以及欧洲市场趋势不一，部分抵消了上海工厂强劲出口带来的增长。”
Upgrade to Buy (from Hold); lift TP to USD190 (from USD125)." Morgan Stanley reiterates Tesla as equal weight The firm said trends appear "mixed" ahead o f Tesla' s deliveries report. "We forecast 441K of deliveries (-11% Y/Y, -8% Q/Q) in 3Q26, on tough 3Q25 tax-credit pull-forward comp, softer US/China demand and mixed EU trends, partly offset by strong Shanghai exports."
StoneX首次覆盖Alto Ingredients并给予“买入”评级。StoneX表示，这家化工公司有很大的上涨空间。“我们首次覆盖ALTO并给予‘买入’评级，目标价为7美元。Alto Ingredients将乙醇生产的核心能力与提升副产品、相关特种化学品和必需配料价值的新颖方法相结合。”
StoneX initiates Alto Ingredients as buy StoneX said the chemical company has plenty of upside. "We are initiating coverage of ALTO with a Buy rating and $7 price target. Alto Ingredients combines a core capability in ethanol production with a novel approach to elevating value from co-products, adjacent specialty chemicals and essential ingredients."
Wolfe首次覆盖安费诺（Amphenol）并给予“跑赢大盘”评级。Wolfe表示该股“极具吸引力”。“我们启动对安费诺的覆盖，给予‘跑赢大盘’评级，2027年底目标价为105美元……我们预计其在人工智能终端市场的增长将超过市场共识，且数据通信以外的业务及增值并购将带来增长。尽管股价表现稳健，但其绝对和相对估值倍数仍具吸引力。”
Wolfe initiates Amphenol as outperform Wolfe said shares are "compelling." "We launch coverage of Amphenol with OP rating & YE27 TP of $105...We see above-Cons growth in the AI end-mkt, with HDD / LDD growth ex-Datacom & accretive M & A. Despite solid stock perf, absolute & relative multiples are compelling."
花旗首次覆盖爵士制药（Jazz Pharmaceuticals）并给予“买入”评级。花旗表示看好其产品管线的多元化。
Citi initiates Jazz Pharmaceuticals as buy Citi said it likes the diversification of the pipeline.
我们开始对Jazz Pharma进行研究，给予“买入/高风险”评级，目标价为325美元。
"We are initiating coverage on Jazz Pharma with a Buy/High Risk rating and $325 TP."
伯恩斯坦（Bernstein）将Arista Networks、Celestica、Lumentum、Coherent和Ciena的评级定为“跑赢大盘”。伯恩斯坦启动了对多家网络股的研究，并表示这些股票仍有很大的上涨空间。“我们最看好Celestica（跑赢大盘），并将其列为我们的首选股。……鉴于我们对光通信子行业的积极看法，我们也看好Lumentum、Coherent和Ciena（评级均为跑赢大盘）。Arista（跑赢大盘）是结构性的市场份额赢家，尽管目前估值已相对充分，但我们认为其当前数据仍有上行空间。”
Bernstein initiates Arista Networks, Celestica, Lumentum, Coherent and Ciena as outperform Bernstein initiated several networking stocks and says they have plenty more room to run. "We are most positive on Celestica ( O), and rate it as our top pick. ... .We are also positive on Lumentum, Coherent and Ciena (all O), given our positive view on the optical sub-sector. Arista (O) is a structural share gainer, and we see upside to current numbers, albeit on a somewhat full valuation."
Piper Sandler重申微软“增持”评级。该机构将其目标价从550美元上调至610美元，并表示看好微软Copilot。“继2026财年第四季度环比增加约1000万个席位（第三财季为500万个）后，Copilot的采用势头持续加速，且增长空间依然巨大。”
Piper Sandler reiterates Microsoft as overweight The firm raised its price target to $610 per share from $550 and says it's bullish on Microsoft Copilot. "Copilot adoption momentum continues to accelerate after adding ~10M seats q/q in F4Q26 (vs. 5M in F3Q26), and the runway remains significant."
奥本海默（Oppenheimer）将Nice的评级从“与大盘持平”上调至“跑赢大盘”。该机构表示，这家软件公司的股价被低估了。“我们将NICE的评级从‘与大盘持平’上调至‘跑赢大盘’，并设定150美元的目标价，理由是该公司人工智能平台的改进、人工智能代理需求的增加，以及该股处于历史低位的估值。”
Oppenheimer upgrades Nice to outperform from perform The firm said shares of the software company are cheap. "We are upgrading NICE to Outperform from Perform and establishing a price target at $150 PT based on the company's improved AI platform, increasing demand from AI agents and the stock's historically cheap valuation."
奥本海默启动对Cavco Industries的研究，给予“跑赢大盘”评级。奥本海默表示，预计这家房屋建筑商的利润率将实现复苏。“我们启动对CVCO的研究，给予‘跑赢大盘’评级，目标价为720美元。”
Oppenheimer initiates Cavco Industries as outperform Oppenheimer said it sees a margin recovery for the homebuilder company. "We initiate coverage o f CVCO with an Outperform rating and $720 PT."
Needham重申SpaceX“买入”评级。Needham表示将继续看好该股。“我们认为SpaceX是轨道基础设施领域的领导者，拥有多年的领先优势，能够为市场共识预期带来显著的上行空间。”
Needham reiterates SpaceX as buy Needham said it's sticking with the stock. "We view SpaceX as the category leader in orbital infrastructure with a multi-year lead that can deliver meaningful upside to consensus estimates."