Key Wall Street Ratings Roundup: UBS raises AMD’s price target to $670, Seaport maintains a Sell rating on NVIDIA.

On Wednesday, multiple Wall Street institutions issued key rating adjustments covering firms including Nvidia, Tesla, AMD, Reddit, and Arm. Seaport reaffirmed its "Sell" rating on Nvidia, citing growing burdens on and off Nvidia’s balance sheet, plus Broadcom’s entry into the cycle financing trend, as signs of rising financing constraints facing the AI industry. Stifel initiated coverage on BlackBerry for the first time, assigning it a "Buy" rating, noting the market still misdefines BlackBerry; the company is no longer just an automotive supplier, but a critical software layer in the physical AI stack, and partners with chip firms including Nvidia, Qualcomm, and AMD. UBS reaffirmed its "Buy" rating on AMD and raised its target price for the chipmaker from $470 to $670, stating it is more positive on AMD as its standalone CPU racks gain market recognition. TD Cowen reaffirmed its "Buy" rating on Arm and lifted its target price from $265 to $475, noting Arm’s 2031 fiscal year target of $15 billion for AGI CPUs is reasonable, though GPU-CPU pairing rates and per-core pricing remain key variables. RBC reaffirmed its "Outperform" rating on Tesla, forecasting the automaker’s second-quarter deliveries will hit 405,000 units, above the Visible Alpha consensus estimate of 401,000. Needham reaffirmed its "Buy" rating on Reddit, saying the platform holds a rare competitive position largely insulated from the generative AI storm. Separately, Citizens initiated coverage on Bitdeer, CleanSpark, Keel Infrastructure, and MARA Holdings, assigning all an "Outperform" rating, noting these bitcoin miners are repurposing their existing power capacity to deliver high-performance computing to hyperscale clients and large enterprises.