Stocks Today: Wall Street’s Upgrades and Downgrades

• Nasdaq: Down 2.29%
• S&P: Down 2.80%
• Dow: Down 2.27%

Economic Policy Advisor Kevin Hassett offered a glimmer of hope, noting deal offers from 15 countries that could ease uncertainty, but investors remain skeptical, fixated on the U.S.-China standoff. Amid the volatility, Wall Street analysts are recalibrating, issuing a flurry of upgrades and downgrades on major stocks

Upgrades and Downgrades

Amazon (Nasdaq: AMZN): Piper Sandler trimmed its price target on Amazon to $215 from $265 while holding an Overweight rating. The adjustment reflects a cautious outlook as Chinese sellers, who make up about half of Amazon’s vendor base, face Trump’s 125% tariffs on Chinese imports. Analysts expect these sellers to hike prices by up to 30% or shift focus to markets like Canada and Europe, potentially denting Amazon’s ad revenue and sales momentum.

Meta (Nasdaq: META): Piper Sandler slashed its price target on Meta Platforms to $610 from $775, maintaining an Overweight rating. The cut comes despite strong ad buyer feedback, as Meta’s exposure to e-commerce and China—hit by escalating U.S.-China trade tensions—prompted a 2% reduction in 2025 revenue estimates.

Analysts anticipate Q2 revenue guidance of $42.5 billion to $45.5 billion, but tariff pressures and a broader market sell-off (S&P 500 down 2.64%) overshadow optimism around AI initiatives like Llama 4. Investors remain focused on Meta’s ability to navigate regulatory and trade risks.

Tesla (Nasdaq: TSLA): Tesla faced a mixed bag from analysts. Goldman Sachs lowered its price target to $260 from $275, keeping a Neutral rating, citing tariff pressures on the auto sector—excluded from Trump’s 90-day pause—and softening demand, though pricing power might offset some costs. Mizuho also cut its target to $375 from $430 but held an Outperform rating, acknowledging supply chain risks from the U.S.-China tariff war (China’s 84% levy vs. Trump’s 125%). Despite today’s Dow drop of 2.11%, Mizuho sees Tesla’s innovation edge as a long-term buffer, even as execution risks loom

Alphabet (Nasdaq: GOOGL): Citi reduced its price target on Alphabet to $195 from $229, retaining a Buy rating. The firm remains upbeat after Google Cloud Next showcased AI and infrastructure gains, but tariff-driven uncertainty in the online ad space—exacerbated by today’s market dip (Nasdaq down 3.72%)—led to the cut. Analysts still expect steady search revenue growth from AI-enhanced features, though visibility remains cloudy as trade tensions escalate, with China’s retaliatory tariffs adding pressure on global tech sentiment.

General Motors (NYSE: GM): General Motors saw downgrades from two firms. Goldman Sachs dropped its price target to $63 from $73, maintaining a Buy rating, noting auto tariffs (outside the 90-day pause) and rising Chinese competition as headwinds, though pricing could mitigate some damage. Mizuho cut its target to $55 from $63, keeping an Outperform rating, but highlighted persistent uncertainty impacting volumes amid today’s 2.11% Dow decline. Both see GM’s resilience tested by the U.S.-China trade spat, with China’s 84% tariff hike adding fuel to the fire.

Western Digital (Nasdaq: WDC): Western Digital received contrasting calls. Benchmark upgraded it to Buy from Hold with a $55 target, pointing to attractive valuations after a tariff-induced sell-off and double-digit data center growth tied to AI demand. Conversely, Mizuho lowered its target to $68 from $82, keeping an Outperform rating, citing supply chain disruptions from tariffs hitting hard-disk-drive markets. With the S&P 500 off 2.64% today, Benchmark’s optimism clashes with Mizuho’s caution, reflecting the sector’s tariff-driven volatility.

AppLovin (Nasdaq: APP): AppLovin got a split verdict. Morgan Stanley upgraded it to Overweight from Equal Weight, trimming its target to $350 from $470, seeing a buying opportunity after a 46% drop since Q4 earnings, driven by ad share gains in gaming and beyond. Piper Sandler cut its target to $425 from $575, holding an Overweight rating, citing supply-side strength but aligning its multiple with lower peers amid today’s 3.72% Nasdaq fall. Both highlight AppLovin’s resilience in a tariff-rattled market, though near-term uncertainty tempers enthusiasm.

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