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 May 4-8. 

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

Top 5 Buy Calls:

1. AMD upgraded to Buy at Seaport Research

Seaport Research upgraded AMD (AMD) to Buy from Neutral with a $430 price target. Near term results are driven by surging CPU demand and next year’s outlook for the company’s GPU business “grows increasingly attractive,” the analyst tells investors. The firm also noted management’s comments that they were able to get better than expected allocation from TSMC (TSM).

AMD upgraded to Outperform at Bernstein

Bernstein upgraded AMD to Outperform from Market Perform with a price target of $525, up from $265. The company’s Q1 results were “very good,” with data center, client and gaming above expectations, the firm tells investors in a research note. Bernstein now sees over $14 in earnings per share for AMD in 2027, and believes approaching $20 in 2028 “feels plausible assuming the AI boom continues.” The shares “probably go up from here even after the run,” the firm says.

AMD upgraded to Buy at Goldman Sachs

Goldman Sachs upgraded AMD to Buy from Neutral with a price target of $450, up from $240 after its Q1 earnings beat. The firm is citing tailwinds to the company’s server CPU business from agentic AI as well as the upside and data center GPUs in 2027 and beyond. Goldman Sachs expects AMD to be an outsized beneficiary of enterprise agentic AI adoption, where it sees x86 having staying power as agents interact with enterprises’ existing x86 infrastructure.

2. Qualcomm upgraded to Outperform at Daiwa

Daiwa upgraded Qualcomm (QCOM) to Outperform from Neutral with a price target of $225, up from $140. Qualcomm’s Q2 results were mixed, with strong Auto and IoT growth offset by weaker-than-expected handset performance and softer Q3 guidance, but focus is increasingly shifting toward the company’s emerging data center AI CPU opportunity, which could position Qualcomm to benefit from the same Arm-based AI inference trends driving enthusiasm for Arm (ARM) and Intel (INTC), especially given Qualcomm’s relatively low valuation within semiconductors and the potential for further detail at its June investor day, the analyst tells investors in a research note.

3. Oppenheimer upgrades Airbnb to Outperform as organic revenue levers materialize

Oppenheimer upgraded Airbnb (ABNB) to Outperform from Perform with an $180 price target on the view that product initiatives around Hotels, RNPL, and AI search will generate durable revenue acceleration not fully reflected in Street estimates. The firm is incrementally more constructive on Hotels. Oppenheimer sees Airbnb as better positioned to absorb travel-corridor dislocations from oil supply shocks, while benefiting disproportionately from World Cup demand, where rentals are pacing above 2025 levels in host cities.

4. Ulta Beauty upgraded to Buy at BofA on improved earnings flywheel

BofA upgraded Ulta Beauty (ULTA) to Buy from Neutral with a $685 price target. Guidance for only modest leverage in FY26 has sent the stock 26% off its 52-week high, but the pullback has “brought elevated investor expectations down to earth” and creates an “opportunity to invest in a high-quality compounder at a discount to peers,” the analyst tells investors. The firm’s recent work gives it more confidence that Ulta is using investments to “build a flywheel to drive growth instead of just running on a treadmill to keep up,” the analyst added.

5. Home Depot reinstated with a Buy at BofA

BofA reinstated coverage of Home Depot (HD) with a Buy rating and $374 price target, calling it the firm’s preferred stock within the home improvement sector. BofA thinks HD’s comparable growth will outperform, driven by higher Pro penetration, and expects traffic trends will hold up better than peers.

Top 5 Sell Calls:

1. HubSpot double downgraded to Underperform at BofA on execution risk

BofA double downgraded HubSpot (HUBS) to Underperform from Buy with a price target of $180, down from $300. After last night’s Q1 results and commentary, the analyst tells investors that the “biggest surprise” is that HubSpot is reorienting its go-to-market model to be agent-first, with reps now expected to position AI agents as “the tip of the spear” during sales conversations. While the firm views these moves as “strategically sound for the long-term,” a concurrent change to both pricing and packaging and go-to-market focus introduces “significant execution risk,” the analyst added.

2. Deckers Outdoor downgraded to Underweight at Wells Fargo

Wells Fargo downgraded Deckers Outdoor (DECK) to Underweight from Equal Weight with a price target of $90, down from $115. The firm says Deckers is the most heavily concentrated footwear company under its coverage. The company is not likely to be a benefactor of the GLP-1 tailwind that will benefit apparel names, the analyst tells investors in a research note. Wells sees a multi-year trend that will lead to Deckers underperformance on a relative basis to apparel. It also sees risk to the company from actions Nike is taking in order to recapture lost share in specialty run.

3. Prudential downgraded to Underweight at Morgan Stanley

Morgan Stanley downgraded Prudential (PRU) to Underweight from Equal Weight with a price target of $92, down from $106. Prudential is in a relatively worse position than peers given the multiple headwinds around Japan following the incremental sales suspension, macro, and earnings power, the firm tells investors. Historically, large-scale sales fraud in Japan, when substantiated, has had a prolonged impact on sales, surrenders, and annualized net premiums, Morgan Stanley added.

4. NOV Inc. downgraded to Underweight at Barclays

Barclays downgraded NOV Inc. (NOV) to Underweight from Equal Weight with a price target of $21, up from $20. The firm adjusted ratings and price targets in the energy services group, saying the sector faces its best setup in 20 years. Barclays upgraded its industry view to Positive from Neutral. Once the “supply shock” ends, oil prices will be structurally higher with upstream spending accelerating in 2027 and 2028, the analyst tells investors in a research note. Barclays sees this driving an earnings revision cycle and potential re-rating of stocks. The events in the Middle East will result in structurally higher oil prices and an ensuing multi-year upstream spending cycle to drive outperformance of the energy services sector, according to Barclays. The firm upgraded six names and downgraded two. It says NOV’s portfolio is later cycle and likely won’t see orders for equipment and assets in the near term.

5. BellRing Brands downgraded to Underperform at BofA

BofA downgraded BellRing Brands (BRBR) to Underperform from Neutral with a price target of $10, down from $19, following Q2 results and a 25% FY26 EBITDA guidance cut. The firm recognizes that “downgrading shares at lows is far from heroic,” but sees limited visibility to a re-acceleration in either revenue or margins over the next twelve months.