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What has Wall Street been buzzing about this week? Here is a look at the top 5 buy calls and the top 5 sell calls made by Wall Street's best analysts during the trading week of Feb. 24-28, 2025. First, here are the top 5 buy calls of the week.

1. Alibaba Upgraded to Outperform at Bernstein on AI Optimism 

Bernstein upgraded Alibaba (BABA) to Outperform from Market Perform with a price target of $165, up from $104, telling investors that the combination of the "more gainful capital allocation" of spending on AI infrastructure, over "chasing Temu" (PDD) in global markets, plus a better industry structure for AI than legacy cloud and possible spill-over effects of the AI capex boom in China makes the firm feel that Alibaba earnings "could now be on a more upwardly-pointing trajectory."

2. Block Upgraded to Outperform at BMO Capital 

BMO Capital upgraded Block (XYZ) to Outperform from Market Perform with a price target of $89, down from $100. The firm sees an attractive entry point following the post Q4 earnings selloff. Street estimates now have less downside risk, while investor sentiment and positioning are more balanced, BMO tells investors in a research note.

The firm believes expectations for Block's Cash App's gross profit growth appear more achievable, with higher spend now contemplated in estimates. It sees potential for sentiment to improve through 2025 as Cash App accelerates profit growth. Block's valuation is attractive at recent levels, especially if estimates have "indeed bottomed," contends BMO.

3. Nike Upgraded to Buy at Jefferies 

Jefferies upgraded Nike (NKE) to Buy from Hold with a price target of $115, up from $75. The company's new CEO is tackling product and distribution issues "head-on, positioning the brand to again outgrow the market and take back lost share," the firm tells investors in a research note.

Jefferies says its survey work shows that Nike's brand remains very strong, proving its issues were self-inflicted and competitive threats are "less severe." The firm sees a "V-shaped" earnings and margin recovery in fiscal 2027 for Nike. well ahead of consensus estimates. This should drive the stock's valuation much higher from recent levels, contends Jefferies. It calls Nike a new top pick.

4. Citi Upgrades Bath & Body Works to Buy on Post-Earnings Selloff 

Citi upgraded Bath & Body Works (BBWI) to Buy from Neutral with a price target of $48, up from $40. The firm cites the post-earnings share selloff for the upgrade. After several years of sales and margin declines, the second half of 2024 inflected positively, and Bath & Body's 2025 outlook calls for sales growth, Citi tells investors in a research note.

The firm believes solid execution, a strong innovation pipeline, and abating home fragrance headwinds will drive upside to the company's sales outlook. It finds Bath & Body's risk/reward attractive at recent share levels.

5. Cava Group Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded Cava Group (CAVA) to Overweight from Neutral with a price target of $115, down from $142. The firm believes in the secular growth of fast casual, and says Cava is one of the best ways to invest in that trend.

While the environment is "choppy," this presents the opportunity in the shares following the recent selloff, Piper tells investors in a research note. Citi points out that Cava shares are down 20% year-to-date and 33% this month.

Next, here are the top 5 sell calls of the week.

1. Rivian Automotive Downgraded to Underperform at BofA as Risks "Pile Up"

BofA downgraded Rivian Automotive (RIVN) to Underperform from Neutral with a price target of $10, down from $13.

Rivian "remains one of the most viable" among the startup electric vehicle original equipment manufacturers and is making progress towards sustainably positive gross margins, but the 2025 outlook was softer than expected and the Volkswagen (VWAGY) partnership is complicating earnings forecasts for at least the next four years, all while competition is increasing and demand for EVs is slowing, the firm tells investors. The company is making progress, but risks are "piling up," BofA added.

2. Lucid Group Downgraded to Underperform at BofA After Founder's Departure 

BofA downgraded Lucid Group (LCID) to Underperform from Neutral with a price target of $1, down from $3. The departure of founder, CEO, and CTO Peter Rawlinson is "much more consequential than understood by the market," argues the firm, which now expects product development to stall and consumer demand to be dampened. BofA cut its estimates for future product volumes.

Lucid Group Downgraded to Sell at Redburn Atlantic 

Redburn Atlantic downgraded Lucid Group to Sell from Neutral with a price target of $1.13, down from $3.50. The firm's work suggests it may be challenging for Lucid's peers to replicate the efficiency of its vehicles before 2030. However, the company's resultant cost advantage requires volumes to build sharply once the mid-sized platform is launched in the second half of 2026, the firm tells investors in a research note.

Redburn believes Lucid's cash outflows will be "larger, for longer, than the market expects." The cumulative free cash flow gap between Redburn and consensus through fiscal 2023 is $11 billion. "If we are correct, it suggests significant additional capital will eventually be required," the firm contends.

3. Cintas Resumed with a Sell at Citi 

Citi resumed coverage of Cintas (CTAS) with a Sell rating and a price target of $161. Cintas continues to demonstrate operational excellence in driving growth and margin progression, but the shares are "priced for perfection," the firm tells investors in a research note. In the context of decelerating underlying employment growth and softer pricing, Citi sees elevated downside risk to the share price on even modest organic growth disappointment.

4. Goldman Downgrades Intellia to Sell on Challenging Commercial Outlook 

Goldman Sachs downgraded Intellia Therapeutics (NTLA) to Sell from Neutral with a price target of $9, down from $12, following the Q4 report. The firm awaits the Phase 3 data from the company's nexiguran ziclumeran and NTLA-2002 programs to gain clarity on their overall profiles.

In the meantime, it takes a conservative view given competitive and commercial dynamics for nexiguran ziclumeran in transthyretin amyloidosis and nucresiran. Goldman also notes limited catalysts for Intellia, saying the further Phase 1 data from both programs will be largely incremental, and there may be a lack of pipeline optionality post the strategic reorganization. It sees a challenging commercial outlook for Intellia Therapeutics.

5. Krispy Kreme Downgraded to Underweight at Morgan Stanley 

Morgan Stanley downgraded Krispy Kreme (DNUT) to Underweight from Equal Weight with a price target of $6, down from $12. While the company's Q4 miss "was understood," its "materially worse" 2025 guidance, and some of the associated commentary, "undercuts the idea that ample demand" for the brand will drive an extended period of U.S. growth, the firm tells investors in a research note.

Morgan Stanley says Krispy Kreme's broader demand indicators, and how the company is going about targeting those, continue to shift the story.

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