Wall Street Analyst Calls: Goldman Upgrades CoreWeave, Morgan Stanley Names Amazon a Top Pick and Bernstein Upgrades Datadog
Goldman Sachs upgraded CoreWeave to Buy, Morgan Stanley named Amazon a Top Pick with a $350 target, and Bernstein upgraded Datadog and lifted its target to $350. Plus eight upgrades, two initiations and the day's target changes.
Wall Street firms issued a busy slate of rating and price-target changes on Monday, Oct. 19. Goldman Sachs upgraded CoreWeave to Buy after the stock's selloff, Morgan Stanley named Amazon a Top Pick, and Bernstein upgraded Datadog on AI-driven demand. Eight stocks were upgraded, two coverage initiations came with Buy-equivalent ratings, and nine price targets changed.
Upgrades
Morgan Stanley was behind two of the eight upgrades (Boyd Gaming and Global-e Online), and Bernstein, Evercore ISI, KeyBanc, Bank of America, JPMorgan and Goldman Sachs each made one. Goldman's CoreWeave call is unusual because it paired the upgrade with a lower target, which the note frames as 73% upside after the recent selloff.
| Company | Ticker | Firm | Rating | Why |
|---|---|---|---|---|
| CoreWeave | CRWV | Goldman Sachs | Neutral to Buy | Target cut to $106 from $139; the note sees 73% upside after the recent selloff |
| Datadog | DDOG | Bernstein | Market Perform to Outperform | Target raised to $350 from $237 on stronger AI-driven demand and token consumption |
| Match Group | MTCH | Evercore ISI | In Line to Outperform | Target raised to $53 from $39 on an accelerating Tinder user recovery |
| Boyd Gaming | BYD | Morgan Stanley | Equal Weight to Overweight | Resilient regional casino demand and about 15% upside |
| Global-e Online | GLBE | Morgan Stanley | Equal Weight to Overweight | Attractive valuation and sustainable gross profit growth above 25% |
| Global Payments | GPN | KeyBanc | Sector Weight to Overweight | Improving growth, cash flow and capital returns |
| Dow | DOW | Bank of America | Underperform to Neutral | Potential near-term stabilization and higher-for-longer oil prices |
| Intel | INTC | JPMorgan | Underweight to Neutral | Target held at $85; improved execution in data-center chips and advanced manufacturing |
Price target changes
Eight of the nine target changes were increases. Datadog had the largest, up about 48% to $350 from $237, followed by Match Group at about 36%. The Microsoft change was a small $2 increase ahead of the company's earnings. CoreWeave was the only target cut.
| Company | Ticker | Firm | Old target | New target | Change |
|---|---|---|---|---|---|
| Datadog | DDOG | Bernstein | $237 | $350 | +47.7% |
| Match Group | MTCH | Evercore ISI | $39 | $53 | +35.9% |
| Veeva Systems | VEEV | Barclays | $315 | $360 | +14.3% |
| Exxon Mobil | XOM | JPMorgan | $166 | $186 | +12.0% |
| Meta | META | Morgan Stanley | $775 | $820 | +5.8% |
| Amazon | AMZN | Morgan Stanley | $335 | $350 | +4.5% |
| Eli Lilly | LLY | Bank of America | $1,341 | $1,397 | +4.2% |
| Microsoft | MSFT | Bernstein | $660 | $662 | +0.3% |
| CoreWeave | CRWV | Goldman Sachs | $139 | $106 | -23.7% |
New coverage
| Company | Ticker | Firm | Rating | Why |
|---|---|---|---|---|
| Maze Therapeutics | MAZE | Canaccord | Buy | $75 target; highlights its drug-development pipeline |
| Resideo | REZI | Citizens | Outperform | Sees upside in residential sensing and controls technology |
Reiterated ratings
Several firms kept bullish ratings in place. Bank of America reiterated Buy on Apple, citing strong iPhone Duo demand and what it says are average global shipping wait times of 82 days. Cantor Fitzgerald reiterated Overweight on CoreWeave with a $176 target, arguing the selloff overstates financing risks, and on Rocket Lab and Tesla. Ahead of earnings this week, Bernstein reiterated Outperform on Microsoft and Morgan Stanley reiterated Overweight on Meta and SpaceX.
| Company | Ticker | Firm | Rating | Why |
|---|---|---|---|---|
| Apple | AAPL | Bank of America | Buy | Cites strong iPhone Duo demand; the note says average global shipping wait times have reached 82 days |
| Eli Lilly | LLY | Bank of America | Buy | Target raised to $1,397 from $1,341 on stronger obesity-drug market expectations |
| Microsoft | MSFT | Bernstein | Outperform | Target raised to $662 from $660 ahead of earnings, citing a favorable setup |
| Amazon | AMZN | Morgan Stanley | Overweight (Top Pick) | Target raised to $350 from $335; projects AWS growth of 47% in 2027 and 42% in 2028 |
| CoreWeave | CRWV | Cantor Fitzgerald | Overweight | $176 target; argues the selloff overstates financing risks and undervalues contracted AI compute demand |
| Exxon Mobil | XOM | JPMorgan | Overweight | Target raised to $186 from $166 after updated Q3 earnings assumptions |
| Meta | META | Morgan Stanley | Overweight | Target raised to $820 from $775 on advertising and AI subscription potential; flags modest Muse retention |
| Nvidia | NVDA | KeyBanc | Overweight | Expects stronger earnings and guidance from accelerating AI GPU and CPU demand |
| Rocket Lab | RKLB | Cantor Fitzgerald | Overweight | $122 target; cites launch reliability and diversified government and commercial customers |
| SpaceX | SPCX | Morgan Stanley | Overweight | Ahead of earnings; highlights its role in the emerging physical intelligence economy |
| Tesla | TSLA | Cantor Fitzgerald | Overweight | $485 target after the next-generation Roadster demonstration; production is targeted for 2028 |
| Veeva Systems | VEEV | Barclays | Overweight | Target raised to $360 from $315 |
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