Analysts Cut Nvidia, Maintain Apple and CoreWeave Ratings, Upgrade Unilever, and Initiate Corning and Teradyne Coverage

According to CNBC, Wednesday's analyst calls included Baird downgrading Nvidia to neutral from outperform, citing limited visibility that is delaying 2027 data center forecasts, supply constraints, possible softer demand and uncertainty about CEO tenure into 2027. Morgan Stanley maintained its overweight rating on Nvidia but removed the stock from its top ideas list and kept its 12-month price target unchanged. UBS reiterated Apple at neutral; its tracking across more than 30 geographies showed iPhone wait times fell week over week by two days for Pro models and seven days for Pro Max and Duo models. Goldman Sachs reiterated CoreWeave at buy after Tuesday's earnings. Deutsche Bank upgraded Unilever to buy from hold. Jefferies initiated coverage of Corning at buy with a $134 price target and Teradyne at buy with a $284 target; it also initiated FormFactor at buy with a $102 target, and Cognex and Littelfuse at buy. Other calls included Piper Sandler upgrading Alpha Tau Medical to overweight from neutral and initiating CareDx at overweight with a $100 target; TD Cowen initiating Mentari at buy; JPMorgan upgrading Republic Services to overweight from neutral with a Dec. 27 price target of $295 and Mercury Systems to overweight from neutral; and Jefferies initiating Zebra Technologies at buy with a $382 target, indicating 19% upside. Jefferies noted Zebra shares had fallen about 10% since 3Q as investors priced in memory-related margin pressure beyond its 21.6% 3Q adjusted EBITDA margin.