Here are the biggest calls on Wall Street on Wednesday: Bernstein upgrades e.l.f. Beauty to outperform from market perform Bernstein says the beauty company is firing on all cylinders. "We upgrade e.l.f Beauty to Outperform, with a PT of $113. We believe e.l.f has the most relevant operating model for today's consumer -social media fluency, rapid innovation cycles, and a viral-prone approach to new product development." Raymond James initiates Civeo as strong buy The firm says Civeo has plenty of upside. " Civeo Corporation (CVEO) is a leading provider of hospitality services to remote workforces in Australia and Canada. As of year-end 2025, the company owned ~29,000 rooms across numerous lodges/villages in Australia and Canada, as well as operating ~19,500 rooms owned by its customers." UBS reiterates Apple as neutral UBS says its checks show flat Apple App Store revenue. "Our analysis of Sensor Tower data indicates that global App Store revenue was essentially flat FX neutral (FXN) in the month of July, slightly lower than the ~2% growth in June-26 quarter." Bank of America reiterates SpaceX as buy The firm said it was pleased with the company's first public earnings report. "We acknowledge SpaceX's (SPCX) strong 2Q print, its first as a public company. SPCX beat expectations across topline and profitability metrics, and we see the company's reporting and communication as constructive." Read more. Melius reiterates Nvidia as buy Melius says Nvidia is a SpaceX beneficiary. "Elon Musk may have just increased Nvidia's revenue visibility for 2027 and beyond to the upside. On SpaceX's earnings call, Musk stated that SpaceX has decided to exclusively use Nvidia compute and suggested the company could deploy closer to 8GW of AI compute during 2027." Piper Sandler upgrades Kratos Defense to overweight from neutral Piper upgraded Kratos Defense and says it sees a slew of positive catalysts. "... recent funding events and award activity have increased our comfort in the pipeline of new contributions to revenue especially with the seeming inevitability of a CR [continuing resolution] to kick off the Federal FY27. We move to Overweight, maintaining our $75 PT." Deutsche Bank upgrades Coupang to buy from hold Deutsche says Coupang shares are compelling now following earnings. "Rebuild costs are hurting - but enough value now exists - lifting to BUY." RBC upgrades Prologis to outperform from market perform RBC says the company is a data center beneficiary. "We are increasing our rating to Outperform and raising our price target to $160/share. PLD i s not only well positioned to benefit from the broader industrial recovery, but can also create meaningful value via its data-center platform." Seaport upgrades Advanced Energy Industries to buy from neutral Seaport upgraded Advanced Energy Industries following earnings. "We're upgrading our investment rating to Buy from Neutral." RBC upgrades Versigent to outperform from sector perform RBC says the company is "best-in-class." "Post-spin , VGNT has hit the ground running, demonstrating the strength of its best-in-class wire harness capabilities across a challenging global automotive backdrop." Bank of America reiterates Advanced Micro Devices as buy Bank of America says it's sticking AMD following earnings. "We reiterate Buy, and raise our estimates on AMD as we believe the company is well set for top-line growth acceleration to +77% YoY in CY27E from +47% YoY." Read more. Bank of America reiterates Arista Networks as buy The firm says Arista is "firing on all cylinders." "Strong 2Q26 results with an impressive 38% revenue growth above Street's 28% YoY, and the momentum continuing into 3Q/4Q with 43% revenue growth per quarter versus Street's 28% and 26%, respectively." TD Cowen upgrades Waters to buy from hold TD Cowen upgraded the stock following earnings. "We upgrade WAT to Buy post 2Q. What's changed? 1) Core WAT delivered another solid result.." TD Cowen initiates Ceco Environment as buy TD Cowen says the environmental company is a beneficiary of the power buildout. " CECO is in the sweet spot of providing critical infrastructure into a broadening and diversifying global power buildout." Goldman Sachs reiterates Pinterest as buy Goldman says the stock is gaining momentum. "Pinterest's Q2'26 earnings report reflected several key themes/narratives in our view: better-than-expected revenue performance in Q2 driven by accelerating growth in UCAN, continued strength in user growth and engagement, and improving advertiser demand across conversion and consideration objectives..." Morgan Stanley upgrades Archer-Daniels Midland to equal weight from underweight Morgan Stanley says the risk/reward is more balanced. "Upgrade ADM to EW from UW as stronger 1H execution reduces prior idiosyncratic downside risk and creates a more balanced bull-bear setup going forward." Citi downgrades Burlington to neutral from buy Citi downgraded the stock on valuation. "We are downgrading BURL from Buy to Neutral as it is within 5% of our target price and risk/reward no longer skews to the upside." Jefferies downgrades Best Buy to hold from buy Jefferies says it sees "soft purchase intent." "We are downgrading BBY to Hold with a view that the market is already embedding a solidly positive comp for 2Q and the magnitude of EPS outperformance thereafter may disappoint." Oppenheimer upgrades Entegris to outperform from perform Oppenheimer upgraded the semis infrastructure company following earnings. "We upgrade ENTG to Outperform from Perform and raise our PT from $160 to $180 following 2Q26's strong beat-and-raise." Bank of America downgrades Vale to neutral from buy Bank of America says it's concerned about slowing demand for iron ore. "We are downgrading Vale from Buy to Neutral mostly amid a weaker top-down backdrop for iron ore and potential downwards earnings revisions by consensus triggered by higher costs." Argus upgrades Bristol Myers to buy from hold Argus says investors should buy the dip. "The BMY shares are trading 20% below all-time highs and have underperformed the market over the past five-year period. But the tide appears to be turning as the stock has now outperformed over the past three-month and one-year periods."