📰 Weekly Market Recap
It was an eventful week on Wall Street, ending with the S&P 500 closing slightly lower on Friday. Investors digested several major headlines, including President Trump’s unexpected move to impose a 50% tariff on copper imports, scrapping hopes of an August 1 extension. Meanwhile, Nvidia made history, becoming the first company to reach a $4 trillion market cap.
Despite the volatility, the Nasdaq gained over 1%, and the Dow Jones Industrial Average rose 0.6% for the week.
Here’s a breakdown of the week’s key analyst calls that had the Street buzzing:
🔼 Microsoft (MSFT) – Upgraded to Outperform by Oppenheimer
Microsoft received a bullish nod thanks to its robust AI growth potential. Analysts set a $600 price target, citing strong momentum in Azure and the growing influence of AI across its business units.
“Investors will increasingly view Microsoft as a long-term AI winner,” said Oppenheimer’s Brian Schwartz.
🔽 Tesla (TSLA) – Downgraded by William Blair
A Republican-led spending bill eliminating the $7,500 EV tax credit could dent Tesla’s demand and regulatory credit profits. Analyst Jed Dorsheimer downgraded the stock, warning of potential $2B in lost revenue.
🔼 Caterpillar (CAT) – Upgraded by Melius Research
Caterpillar was lifted to Buy with a Street-high $500 price target, driven by soaring demand from AI-linked data center expansions. The firm raised its 2027 revenue forecast by $6B, highlighting momentum in the Engines & Transportation division.
🔽 Illumina (ILMN) – Downgraded by Scotiabank and Citi
Scotiabank and Citi both slashed ratings on Illumina due to China-related headwinds and high exposure to U.S. academic & government funding. Citi argued recent share price strength isn’t backed by fundamentals.
On the bright side, Charles River (CRL) and Hologic (HOLX) were upgraded to Buy, while peers Danaher (DHR) and Thermo Fisher (TMO) also received positive revisions—though TMO’s target was slightly trimmed.
🔽 Enphase Energy (ENPH) – Downgraded by TD Cowen & Goldman Sachs
Both firms turned bearish on Enphase following canceled residential solar credits. Price targets were significantly cut, with Goldman seeing long-term pressure beyond 2027 and TD Cowen highlighting weaker inverter demand in late 2025.
🔽 CrowdStrike (CRWD) – Downgraded by Piper Sandler & CFRA
Despite strong performance, CrowdStrike was downgraded over concerns about valuation and limited near-term catalysts. The price target remains at $505.
🔼 AMC & Cinemark – Upgraded by Wedbush
A more consistent film release slate led to upgrades for AMC (AMC) and Cinemark (CNK), with analysts optimistic about box office recovery trends.
🔼 Micron Technology (MU) – Initiated at Buy by Deutsche Bank
Deutsche Bank sees upside in both cyclical and long-term trends for the chipmaker, assigning a $150 price target.
🔼 Warner Music Group (WMG) – Upgraded by BofA
Bank of America upgraded WMG to Neutral, pointing to cost-cutting efforts and better streaming visibility. The price target was lifted to $33.
