Buy/Sell: Wall Street’s top 10 stock calls this week

What has Wall Street been buzzing about this week? Here are the top 5 Buy calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of September 29-October 3. 

Find all top-rated stocks by the best-rated analysts on TipRanks.

Top 5 Buy Calls:

1. Apple initiated with a Buy at Seaport Research 

Seaport Research analyst Jay Goldberg initiated coverage of Apple (AAPL) with a Buy rating and $310 price target. Apple should have a good year on this year’s product lineup, with Apple Air trending well and boding for a stronger future for further price increases as an affordable phone potentially launches in 2026, the analyst tells investors.

2. Alibaba upgraded to Buy at Erste Group 

Erste Group upgraded Alibaba (BABA) to Buy from Hold. The firm says the company is “developing very well” in artificial intelligence applications. Meanwhile, Alibaba’s e-commerce business and international segment are also strong, Erste Group tells investors in a research note. The firm views the stock’s risk/reward profile as positive.

3. KeyBanc upgrades Nike to Overweight on turnaround story 

KeyBanc upgraded Nike (NKE) to Overweight from Sector Weight with a $90 price target. The company reported “solid” fiscal Q1 results, driven by continued progress on its “Win Now” actions, the firm tells investors in a research note. KeyBanc acknowledges some near-term “choppiness” from tariffs and China, but believes Nike’s Sport Offense, innovation pipeline, and marketplace resets positions the company for a return to sustainable growth and margin recovery. It sees enough visibility to feel comfortable in Nike’s turnaround story.

4. Carvana upgraded to Buy at Jefferies 

Jefferies upgraded Carvana (CVNA) to Buy from Hold with a price target of $475, up from $385 The firm says the results of its consumer survey, web scape, and capacity analysis suggest Carvana will continue to deliver elevated growth and upside to consensus estimates. In addition, the company’s fixed cost leverage will help supplement its revenue growth, supporting further expansion in unit economics and “peer-high” EBITDA growth, Jefferies tells investors in a research note. The firm believes Carvana is best positioned to benefit from a “nascent shift to digital in the massive $800B used car market.”

5. Delta Air Lines upgraded to Buy at Jefferies on margin expansion potential 

Jefferies upgraded Delta Air Lines (DAL) to Buy from Hold with a price target of $70, up from $62. The Q3 revenue outlook raise to 2%-4% from 0%-4% gives the firm “enough confidence” in the topline for Q4 and 2026 that margin expansion is coming despite the short-term lack of earnings drop through in Q3, the firm tells investors. Jefferies notes that its EPS estimates for Q4 and 2025 are above consensus.

Top 5 Sell Calls:

1. Jefferies cuts Apple to Underperform, calls iPhone expectations “excessive” 

Jefferies analyst Edison Lee downgraded Apple to Underperform from Hold with a price target of $205.16, down from $205.82. Better demand for iPhone 17, likely driven by no price hike in the Pro and Pro Max models and “an effective price cut” on the 17-base model, is already in the price, which has led to “excessive expectations” on the replacement cycle and prospects of the 18-Fold, the analyst tells investors. The current valuation prices in an “overly bullish iPhone outlook,” the analyst argues.

2. Northland double downgrades DraftKings on prediction market headwinds 

Northland analyst Greg Gibas double downgraded DraftKings (DKNG) to Underperform from Outperform with a price target of $33, down from $53, to reflect the increasing headwind that the firm sees from prediction markets like Kalshi and Polymarket. The firm, which found prediction markets generally offered more favorable odds when looking at 40 NFL and CFB games, believes the growth in popularity and increased adoption of prediction markets can disrupt traditional sportsbooks.

3. Doximity downgraded to Sell at Goldman Sachs

Goldman Sachs analyst David Roman downgraded Doximity (DOCS) to Sell from Neutral with a price target of $64, up from $57, which implies 13% downside potential. The company’s growth profile does not support the stock’s current valuation, the analyst tells investors in a research note. The firm says Doximity’s slowing growth and “elevated” valuation create an unfavorable risk/reward profile.

4. Wells Fargo downgrades Western Alliance to Underweight after rally 

Wells Fargo analyst Timur Braziler downgraded Western Alliance (WAL) to Underweight from Equal Weight with a price target of $90, up from $85. The firm believes the shares are pricing in too much of interest rate cut benefits. Western Alliance shares already re-rated back to their historical two-times price-to-earnings valuation discount, which limits further outperformance, the analyst tells investors in a research note. Wells also sees downside risk to the bank’s guidance, saying rate cut benefits won’t hit until 2026.

5. Medpace downgraded to Underweight at Barclays 

Barclays downgraded Medpace (MEDP) to Underweight from Equal Weight with a price target of $425, down from $450. The downgrade is mostly on valuation, as Barclays sees Medpace’s growth deceleration in the second half of 2026 as well as margin pressure, the firm tells investors in a research note. Barclays believes the shares trading at peak multiples on peak earnings growth.