Buy/Sell: Wall Street’s top 10 stock calls this week

What has Wall Street been buzzing about this week? Here are the top 5 Buy calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of April 7-11. 

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Top 5 Buy Calls:

1. Walmart initiated with an Outperform at Mizuho

Mizuho initiated coverage of Walmart (WMT) with an Outperform rating and $105 price target. The company’s multi-year rebuild from a legacy, store-based retailer into a much more tech-led player has “finally reached a tipping point,” where Walmart’s delivery and convenience are on par with anyone in consumer, the firm tells investors in a research note. Mizuho says the company offers “defensive posturing in parallel with a structurally higher margin profile.” The shares can still work in a “lukewarm economy” and represent a “must-own name in consumer,” contends the firm. It sees “multiple ways to win” following the stocks’ 15% pullback.

2. Roku upgraded to Buy at Redburn Atlantic 

Redburn Atlantic upgraded Roku (ROKU) to Buy from Neutral with a $100 price target. The firm says the company has “defensive attributes” with $2.2B of cash, which should rise to $3.7B by 2027, and with 40% of costs variable. The shift of advertising dollars to connected TV will continue to progress and will likely accelerate if macro headwinds worsen, the firm tells investors in a research note. Redburn believes Roku has reached a level of financial maturity where it can now be valued on EBITDA and free cash flow multiples, “for the first time providing a valuation floor to the stock.”

3. Reddit initiated with a Buy at Truist 

Truist initiated coverage of Reddit (RDDT) with a Buy rating and $150 price target. The company is one of the fastest growing social media platforms and one that’s aggressively gaining share of the digital ad market while also showing material margin leverage, driving profitability with more room to grow given lower monetization relative to peers, the firm tells investors in a research note. Reddit is also offering a differentiated product to users and advertisers with strong product market fit, which is reflected in solid daily active user growth and growing engagement, Truist adds.

4. Dollar Tree upgraded to Buy at Citi 

Citi upgraded Dollar Tree (DLTR) to Buy from Neutral with a price target of $103, up from $76. With 50% of the company’s product subject to significantly higher tariffs, the market reaction “was extremely and unsurprisingly negative,” the firm tells investors in a research note. However, Citi believes the higher-tariff-across-the-board environment is going to be a positive for Dollar Tree. The higher tariff regime gives the company cover to further expand price points from $1.25 to $1.50 or $1.75, the firm says. Citi believes it will be an easier move than when it had to “break the buck” in 2022. The firm sees Dollar Tree as winner in an environment where retail prices are going higher.

5. Dollar General upgraded to Buy at Melius Research

Melius Research upgraded Dollar General (DG) to Buy from Hold with a $110 price target. While the company had its own “self-inflicted” challenges and competitive challenges over the last 12 months, the firm believes Dollar General likely will benefit from a worsening macro environment and a lack of tariff exposure.

Top 5 Sell Calls:

1. General Motors downgraded to Underperform at Bernstein

Bernstein downgraded General Motors (GM) to Underperform from Market Perform with a price target of $35, down from $50. Vehicle tariffs have commenced, and parts tariffs are likely to follow within a month, the firm tells investors in a research note. Bernstein says its updated forecast for General Motors shows a reduction of more than 20% in free cash flow and a decrease of over 50% in 2026 adjusted earnings. As tariff pressures intensify and consumer sentiment weakens, GM shares will remain under pressure, contends the firm.

2. Bernstein cut Ford to Underperform with tariff risk not priced in  

Bernstein downgraded Ford (F) to Underperform from Market Perform with a $7 price target. The firm says tariffs are impacting Ford just as consumer confidence wanes. Bernstein assumes that tariffs apply only to non-United States-Mexico-Canada Agreement imports, but even this “modest” scenario “significantly affects Ford,” the firm tells investors in a research note. Further, Bernstein believes “downside risk from more stringent U.S. content rules” may also pressure the company’s dividend. It believes significant downside risk for Ford shares is not being priced in by the market.

3. American Airlines downgraded to Sell at Goldman Sachs

Goldman Sachs downgraded American Airlines (AAL) to Sell from Neutral with a price target of $8, down from $16. The firm says the company’s higher balance sheet leverage and operating leverage drive significantly larger estimate cuts relative to peers amid increased macroeconomic and geopolitical uncertainty. As profitability across the industry and at American is negatively impacted by lower demand, Goldman is now forecasting lower free cash flow.

4. Caterpillar downgraded to Sell at UBS 

UBS downgraded Caterpillar (CAT) to Sell from Neutral with a price target of $243, down from $385. UBS thinks more earnings downside related to macroeconomic headwinds is not yet priced in. The firm believes the macroeconomic impacts of the tariffs and continued uncertainty will lead to further deterioration in multiple sectors of the U.S. and global economy, and believes this will weigh on the more economically sensitive parts of Caterpillar’s business, including some construction verticals, oil and gas, and mining.

5. Fiserv downgraded to Sell at Monness Crespi 

Monness Crespi downgraded Fiserv (FI) to Sell from Neutral with a $145 price target. Given the stock’s “rich valuation” and sensitivity to volume and transaction growth expectations in increasingly uncertain conditions makes the firm “circumspect the quality halo can hold for much longer,” the firm tells investors. Given “lofty growth expectations” needed at Clover to reach calendar 2026 and 2027 targets, Monness continues to see guidance removal as “increasingly likely here.”