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 June 2-6. 

Find all top-rated stocks by the best-rated analysts on TipRanks.

Top 5 Buy Calls:

1. Snowflake upgraded to Buy at UBS

UBS upgraded Snowflake (SNOW) to Buy from Neutral with a price target of $265, up from $210. The firm is becoming increasingly confident in the prospect that Snowflake is “just a few quarters into what could prove to be a multi-year enterprise investment cycle in the data layer.” This is based on industry checks as well as the results from Snowflake, Palantir and Databricks, UBS tells investors in a research note. While Snowflake shares are already up 35% year-to-date, “it’s not too late to get more constructive,” contends the firm. UBS says its recent Snowflake customer and partner checks are signaling a “clear uptick” in spending in the company’s data stacks, in many cases because of the greater value associated with corporate data to drive artificial intelligence application performance.

2. Block upgraded to Outperform at Evercore ISI

Evercore ISI upgraded Block (XYZ) to Outperform from In Line with a price target of $75, up from $58, implying 21% upside. The firm says Cash App lending will not be as aggressive as it thought coming out of the company’s Q1 earnings. Evercore was worried that more aggressive lending to new consumers in new states with higher limits would be used to offset lower Q1 Cash App numbers, but feedback from industry contacts and multiple company follow-ups enabled a deeper understanding of Block’s growth and risk tolerance balance and made the firm “materially less concerned.” Further, the firm’s checks point to relatively steady low-end consumer spending trends, deposit rates, and unemployment deposits. Evercore also believes new product releases at Square bode well for future development efficiency and growth opportunities.

3. Boeing upgraded to Buy at BofA as Trump makes aircraft a favored trade tool

BofA upgraded Boeing (BA) to Buy from Neutral with a “Street high” price target of $260, up from $185, with Boeing aircraft having emerged as the favored trade tool for the Trump Administration in recent trade deals. The firm views those recent deals struck in the UK, Qatar, UAE and China as setting a precedent for future global trade negotiations, to Boeing’s benefit. While Boeing’s backlog “hasn’t been the lynch pin to our valuation,” BofA does see the progress in stabilizing production, carve-outs alleviating free cash flow burn, and a renewed focus across the portfolio all performing in concert with the “favored trade mechanism” status creating a buying opportunity, the firm tells investors.

4. Pinterest upgraded to Overweight at JPMorgan

JPMorgan upgraded Pinterest (PINS) to Overweight from Neutral with a price target of $40, up from $35. While Pinterest shares have outperformed year-to-date, they remain down 18% from the February market highs, the firm tells investors in a research note. JPMorgan believes the company has made solid progress across its 2023 investor day priorities to grow users and deepen engagement, improve monetization, and drive profitable growth. The firm says Pinterest is leveraging its full funnel advertising approach and automation capabilities to capture a greater share of ad spending among the next tranche of advertisers. Given the company’s solid execution, potential upside to estimates and “lukewarm market positioning,” JPMorgan views the risk/reward on shares as favorable.

5. Dollar General upgraded to Outperform at Oppenheimer

Oppenheimer upgraded Dollar General (DG) to Outperform from Perform with a $130 price target. Following the company’s stronger than expected earnings report, the firm is increasingly confident in management’s ability to drive a 2%-3% comp on a sustained basis and make progress toward its 6%-7% operating margin target in 2028 and 2029. In addition, Dollar General’s model has been resilient in recessionary periods, Oppenheimer tells investors in a research note. The firm believes this could drive further money flows in an increasingly uncertain backdrop as the year progresses.

Top 5 Sell Calls:

1. PayPal initiated with a Sell at Truist 

Truist initiated coverage of PayPal (PYPL) with a Sell rating and $68 price target. The firm models the company’s gross profit growth below the Street due mainly to competitive pressure in its branded checkout business from Apple Pay and Shop Pay as well as a lower level of float income as interest rates decline. Truist also worries that PayPal is increasing its lending business at the wrong point in the economic cycle. This creates grow-over risk in 2026, says the firm, which sees better value in other large caps under its coverage.

2. Block initiated with a Sell at Truist

Truist initiated coverage of Block with a Sell rating and $60 price target. The firm likes Block as a company long-term, but believes this is a “really difficult stock to own late cycle” as its two business segments are sensitive to the macro environment. In addition, Block is leaning into growth of its lending products in order to reaccelerate growth throughout 2025, which may lead to higher credit losses and a tough grow-over in 2026, Truist tells investors in a research note. As such, the firm expects the shares to underperform peers.

3. Zoom Communications initiated with an Underweight at KeyBanc

KeyBanc initiated coverage of Zoom Communications (ZM) with an Underweight rating and $73 price target as part of a broader research note launch coverage of select Enterprise Software names. The company’s primary video conferencing business has been under threat since the peak of the pandemic as “virtual happy hours” faded into the background of the 5-days-a week in-office mandates, the firm tells investors in a research note. Microsoft (MSFT) has also flexed its muscle with Teams features, capabilities, and user experience all gaining ground on Zoom, whose expansion beyond video collaboration is not “terribly attractive,” KeyBanc added.

4. Akamai initiated with an Underweight at KeyBanc

KeyBanc initiated coverage of Akamai (AKAM) with an Underweight rating and $63 price target. The firm does not believe Akamai shares are expensive, but it sees more risk of negative catalysts than positive. The company operates in a “crowded field,” and pricing dynamics have a better chance to disappoint rather than surprise to the upside, KeyBanc tells investors in a research note.

5. Bumble downgraded to Underweight at JPMorgan

JPMorgan downgraded Bumble (BMBL) to Underweight from Neutral with an unchanged price target of $5. The shares have traded up 50% since President Trump’s “Liberation Day” and are not 10% above the price target. The firm struggles to justify raising the price target given its expectation for Bumble’s revenue and payer declines to accelerate, regardless of the macro environment. The company’s intra-quarter U.S. download trends took another step down and there is downside risk to consensus estimates, adds JPMorgan.