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 March 23-27.
Find all top-rated stocks by the best-rated analysts on TipRanks.

Top 5 Buy Calls:

1. Microsoft reinstated with a Buy at BofA

BofA reinstated coverage of Microsoft (MSFT) with a Buy rating and $500 price target, implying 31% upside potential. Microsoft’s advantage lies in its ability to capitalize on AI across both infrastructure and applications as its Azure cloud infrastructure platform provides the compute and data foundation for enterprise AI workloads, while its primary software products embed into everyday tasks that drive attach and consumption, the firm told investors.

2. Daiwa sees Spotify maintaining high growth, starts at Outperform

Daiwa initiated coverage of Spotify (SPOT) with an Outperform rating and $535 price target. The pure-play audio streamer has delivered steady growth in subscribers and revenue, said the firm. Daiwa believes Spotify can maintain its high-growth revenue trajectory based on its dominance in the high-growth audio streaming market, rollout of products like podcasts and audiobooks, steady pace in net adds of Premium and ad-supported users, a rebound in advertising revenue, price increases, entry into new verticals, and new pricing tiers and add-ons.

3. Oracle reinstated with a Buy at BofA

BofA reinstated coverage of Oracle (ORCL) with a Buy rating and $200 price target, offering 30% upside potential. Oracle has “large revenue potential” from accelerating AI infrastructure demand, the analyst told investors in a research note. The firm believes the company has visibility for a “meaningful” growth opportunity, but added Oracle needs to prove it can deliver capacity, convert long-dated contracts into revenues, and manage a capital-intensive buildout.

4. Needham upgrades Arm to Buy with “high-stake bets” paying off

Needham upgraded Arm (ARM) to Buy from Hold with a $200 price target. The company’s “high-stake bets,” including raising royalty rates, going into subsystems, and making its own silicon, are working, the firm told investors in a research note. Needham said that with the rise of agentic AI and the growing role growing role of central processing units in AI data centers, Arm “has become a credible AI play, right around the time when the company has better structured itself to capture greater value from AI.”

Arm upgraded to Outperform from Market Perform at Raymond James

Raymond James also upgraded Arm to Outperform from Market Perform with a $166 price target. The firm cited the company’s announced business model shift to include a fabless semiconductor element for the upgrade. Arm has increased its forecast calling for fiscal 2028 earnings per share of $3 and fiscal 3031 reaching $9, the firm told investors in a research note. Raymond James said the “industry-leading bandwidth” of Arm’s AGI CPU chip allows for more effective threads of execution per rack versus x86 CPUs.

5. MongoDB upgraded to Outperform from Neutral at Mizuho

Mizuho upgraded MongoDB (MDB) to Outperform from Neutral with a price target of $325, up from $290. The firm sees a “compelling” share setup post the company’s fiscal Q4 report. MongoDB’s growth profile “has inflected meaningfully” with fiscal 2026 net customer additions up 60% year-over-year, net revenue retention improving from 118% to 121%, and headcount growing just 1% against 23% revenue growth, which signal the business is “entering a new phase of efficient, durable growth,” the analyst told investors in a research note. Mizuho also sees AI as a “structural tailwind” for MongoDB, with vibe coding expanding application creation and AI-enabled apps requiring more database workloads per application. It views the company’s fiscal 2027 outlook as conservative.

Top 5 Sell Calls:

1. William Blair downgraded Dropbox, Blaze, GitLab to Underperform

William Blair downgraded several names in infrastructure software this week, including Dropbox (DBX), Blaze (BLZE) and GitLab (GTLB) to Underperform from Market Perform. The firm cited the “increased uncertainty that AI has injected into the software sector.” William believes the group has entered a “critical transition period” where every infrastructure software company “will need to rethink their product, their pricing, and their go-to-market strategy.” AI has introduced a level of uncertainty in the software industry that is not likely to change any time soon, the firm told investors in a research note.

2. Wix.com downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Wix.com (WIX) to Underweight from Neutral with a price target of $91, down from $114. The firm said the investment case is diminishing due to signs of core business revenue growth deceleration. Wix.com’s margin improvement will be slower and more volatile than investors expect, JPMorgan told investors in a research note. The firm also believes the website and e-commerce management space faces structurally more technology-driven competition over the long term compared to other parts of its coverage.

3. Timken downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Timken (TKR) to Underweight from Neutral with an unchanged price target of $100. The firm cites comparatively lower near-term upside for shares versus peers, rather than a negative long-term outlook, for the downgrade. JPMorgan sees limited near-term upside for Timken given the stock’s “premium valuation.”

4. Nutrien downgraded to Sell from Neutral at UBS

UBS downgraded Nutrien (NTR) to Sell from Neutral with a price target of $67, up from $63. The firm said the stock’s risk/reward is now skewed to the downside. Nutrien’s 19% rally year-to-date incorporates a more positive view of potash market fundamentals that doesn’t recognize supply/pricing pressure to come later in the decade, UBS told investors in a research note. The firm thinks potash pricing declines from Q2 will keep 2026 pricing flat versus the consensus expectation of year-over-year increases.

5. Truist Financial initiated with an Underperform at Jefferies

Jefferies initiated coverage of Truist Financial (TFC) with an Underperform rating and $35 price target. The firm sees execution risk related to Truist achieving its ROTCE target of 15% in FY26 and believes intensifying competition in the Southeast may hinder loan and deposit growth. Even if the ROTCE target is met, it would trail peers at 17% in FY27, Jefferies added.