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 20-24.
Find all top-rated stocks by the best-rated analysts on TipRanks.

Top 5 Buy Calls:

1. Reddit initiated with a Buy at DA Davidson

DA Davidson initiated coverage of Reddit (RDDT) with a Buy rating and $200 price target, citing a belief that Reddit remains “incredibly under-monetized relative to peers.” The “human-first social platform” should continue to attract more users and advertisers as it scales, which should support more favorable contract renewals with the leading LLMs, a broader base of advertisers, and further operating leverage, the analyst tells investors.

2. DA Davidson upgrades AMD to Buy after big Intel beat

DA Davidson upgraded AMD (AMD) to Buy from Neutral with a price target of $375, up from $220. The firm cites the “structural increase” in central processing unit demand and “much improved” visibility into AMD’s role in the data center buildout for the upgrade. Given the magnitude of Intel’s (INTC) Q1 beat, there is “meaningful upside” to AMD’s estimates when it reports on May 5, DA Davidson tells investors in a research note. DA says CPUs are “reinserting itself as an indispensable foundation of the AI era.” The firm views Intel’s results as a “precursor for a huge step-up” for AMD’s CPU franchise.

3. Intel upgraded to Buy from Neutral at Roth Capital

Roth Capital upgraded Intel (INTC) to Buy from Neutral with a price target of $100, up from $50. The firm is “impressed” with the improved execution under CEO Lip Bu Tan, who has rapidly improved manufacturing efficiency and CPU products to take advantage of the tailwinds of agentic AI. Roth is also “encouraged” by foundry progress in advanced packaging and interest in Intel products from large customers for multi-year agreement opportunities.

Citi upgrades Intel to Buy on increased CPU demand

Citi upgraded Intel to Buy from Neutral with a price target of $95, up from $48, citing improved central processing unit demand from agentic AI. The increased demand should benefit all CPU suppliers in the years ahead, the firm tells investors in a research note. In addition, Intel should be a “major beneficiary” of Tesla’s initiative to support Terafab, says Citi. The firm sees 20% upside in Intel shares even with the post-earnings rally. 

Intel upgraded to Outperform from In Line at Evercore ISI

Evercore ISI upgraded Intel to Outperform from In Line with a price target of $111, up from $45. The firm views Intel as a “CPU renaissance play.” The fastest growing AI workloads need a lot more central processing units, and might even flip the CPU:GPU ratio from 1:8 to 8:1, the analyst tells investors in a research note. In addition, Intel’s new CEO has fixed the balance sheet and is executing on a strategy that appears to have put the company “back on the competitive track,” says Evercore. The firm also believes geopolitical dynamics have “shined a light” on Intel’s “unique position” as the only U.S.-based leading edge maker of chips.

4. Twilio upgraded to Buy from Underperform at BofA

BofA upgraded Twilio (TWLO) to Buy from Underperform with a price target of $190, up from $110. The firm, which sees positive inflections in its strategic positioning in AI and its fundamentals, thinks Twilio will prove to be one of the key infrastructure layers for AI-driven voice and messaging uses cases, the analyst tells investors. The firm forecasts growth of 10% year-over-year for FY28, up from 9% for FY26.

5. Oklo initiated with a Buy at HSBC

HSBC initiated coverage of Oklo (OKLO) with a Buy rating and $96 price target. Oklo is accelerating the integration of power, fuels and isotopes production, with the company pioneering an “owner-operator” model for its small modular reactors, the firm tells investors in a research note. HSBC believes the company is positioned to leverage the new Department of Energy-led licensing process for its 75 MW Aurora powerhouses and fuel foundry. The firm says Oklo has a clean balance sheet with “imminent first revenue,” creating a good risk/reward at current share levels.

Top 5 Sell Calls:

1. Qualcomm reinstated with an Underweight at Barclays

Barclays reinstated coverage of Qualcomm (QCOM) with an Underweight rating and $130 price target. The firm says that even when giving Qualcomm significant credit to both auto and internet of things, the company will be unable to offset the difficult handset environment driven by memory headwinds. AI at the edge is still several years away and the company’s play in the data center is yet to be proved out, the analyst tells investors in a research note.

2. Mizuho downgrades Qorvo to Underperform on handset weakness

Mizuho downgraded Qorvo (QRVO) to Underperform from Neutral with a price target of $66, down from $70. The firm cites its supply chain checks and handset industry call for the downgrade. Handsets represent 60%-70% of revenue for Skyworks and Qorvo, and “persistent” memory shortages are compressing unit volumes and inflating average selling prices, the analyst tells investors in a research note. Mizuho now estimates global handset volumes will down 10%-plus year-over-year in 2026 and another 5% in 2027.

3. JPMorgan downgrades Avis to Underweight on “unsustainable valuation”

JPMorgan downgraded Avis Budget (CAR) to Underweight from Neutral with a price target of $165, up from $123. The stock closed Wednesday down 38%, or $270.03, to $443.94. The shares are trading at an “unsustainable valuation” that is not supported by the company’s fundamentals, the analyst tells investors in a research note. JPMorgan views the recent “short-squeeze” driven rally in Avis shares as a “potentially significant opportunity for management to create lasting value via opportunistic capital market transactions.” However, the firm feels the stock has risen far above a level that can be justified by even the most optimistic view of its underlying earnings fundamentals.

4. Cava Group initiated with a Buy at Roth Capital

Roth Capital initiated coverage of Cava Group (CAVA) with a Buy rating and $106 price target. The firm sees upside to the company’s “conservative” 2026 same-store-sales outlook. Cava’s 2026 same-store-sales guidance of 3%-5% has “reinvigorated the stock due to an outlook above fast-casual peers and consensus,” Roth tells investors in a research note. The firm thinks the outlook may prove conservative given Cava’s multi-year stacked traffic trends and protein innovation, loyalty, and throughput initiatives in the remainder of the year.

5. Prudential downgraded to Hold from Buy at Jefferies

Jefferies downgraded Prudential (PRU) to Hold from Buy with a price target of $98, down from $124. The firm cites Japan uncertainty for the downgrade after the company announced an extension of its voluntary sales suspension for Prudential of Japan for an incremental 180 days. Prudential now expects a $525M-$575M negative impact on 2026 earnings, which is up from the prior $300M-$350M estimate, Jefferies tells investors in a research note. Further, Prudential disclosed a $400M-$450M negative impact on 2027 earnings, adds the firm.