By Michael Bloom
Publication Date: 2026-06-04 12:15:00
Here are Thursday’s biggest calls on Wall Street: Morgan Stanley reiterates Broadcom as overweight Morgan Stanley raised its price target on Broadcom to $502 per share from $485 following earnings. “Very strong results amid even higher expectations – but the growth trend remains very strong. PT up to $502, reiterate OW.” Jefferies upgrades RTX to buy from hold Jefferies said it likes the company’s free-cash flow. ” RTX is home to leading franchises across Aerospace (47% of sales) and Defense (53% of sales), with meaningful growth runway from marquee competitive positions & market growth/budget support.” Wolfe initiates FedEx Freight as outperform Wolfe said it sees “material growth.” “We’re launching coverage of FDX Freight with an Outperform rating following its spin from FDX earlier this week. We expect material EPS growth the next few years with company-specific pricing/margin opportunities and an improving fundamental backdrop for all the LTLs.” Macquarie downgrades Broadcom to neutral from outperform The firm downgraded the stock following earnings due to concerns about Alphabet insourcing. “Broadcom was previously the only vendor in Google’s supply chain. However, Google is now working with MediaTek and developing in-house capabilities.” Bank of America reiterates Alphabet as buy The firm said it’s sticking with Alphabet f ollowing its capital raise earlier this week. “We maintain our Buy rating. The Street expects 2027 capex of $241bn and $16bn in positive FCF, and…