Wall Street Upgrades: AMD, Meta, DoorDash Get Bullish Calls

JPMorgan upgraded DoorDash (NASDAQ: DASH) to an Overweight rating following the company’s strategic acquisition of Deliveroo, a move that dramatically expands its international presence. The combined entity now operates in 45 countries with a combined population exceeding one billion people, serving more than 700,000 local businesses and 50 million monthly active users. Deliveroo contributed approximately seven million of these users, significantly bolstering DoorDash’s global market position and driving JPMorgan’s bullish outlook.

The acquisition represents a major consolidation in the food delivery sector, positioning DoorDash as a dominant player across multiple continents. This expanded scale provides DoorDash with substantial operational advantages and market penetration capabilities that analysts believe will translate into sustained revenue growth and market share gains in the competitive delivery services landscape.

Advanced Micro Devices (NASDAQ: AMD) received dual upgrades from Wolfe Research and Mizuho, with price targets reaching as high as $300. Wolfe Research upgraded AMD to Outperform from Peer Perform, arguing the company is positioned for a conservative path to $10+ earnings power by 2027. The bullish sentiment follows AMD’s announcement of a long-term deal to become a key supplier to OpenAI’s AI infrastructure program, which the company stated will generate billions of dollars in annual revenue.

Adding to the positive momentum, Oracle Corporation confirmed it would deploy 50,000 AMD graphics processors starting in the second half of 2026, signaling robust demand for AMD’s hardware in enterprise and cloud computing applications. Mizuho reinforced its outperform rating while raising its price target from $205 to $275, citing the combined impact of these partnerships. AMD projects the OpenAI deal alone will generate over $100 billion in total revenue from chips over the next few years, positioning the company as a serious competitor in the AI hardware market dominated by NVIDIA.

Wells Fargo upgraded Warner Music Group Corp. (NASDAQ: WMG) to an outperform rating with a $39 price target, citing significant improvements in the company’s core operations. The analysis highlighted the remarkable turnaround at Atlantic Records as a key driver behind the improved performance, with the label achieving its highest market share in three years following the appointment of Elliot Grainge as CEO a year ago.

Warner Records also contributed to the company’s strengthened position by achieving all-time market share highs, according to Wells Fargo’s assessment. This dual success across major labels indicates a broader corporate revitalization that analysts believe will sustain Warner Music’s competitive edge in the evolving music industry. The upgrade reflects confidence that these operational improvements will translate into sustained financial performance and shareholder value.

Citi analysts added a positive catalyst watch on Meta Platforms (NASDAQ: META), maintaining their Buy rating and $915 price target while designating the stock as their Top Pick. The firm noted that industry checks suggest Meta is gaining share of advertising budgets as newer products like Business AI launch. Citi initiated a 90-day Catalyst Watch ahead of Meta’s third-quarter 2025 earnings expected on October 29, anticipating positive momentum from these developments.

Meanwhile, BTIG upgraded Palo Alto Networks (NASDAQ: PANW) to a Buy rating based on surprisingly positive feedback from partners. The firm conducted discussions with seven contacts representing approximately $1.2 billion in annual PANW sales, noting that partner sentiment had improved meaningfully from prior quarters. This ground-level optimism suggests strengthening demand for Palo Alto Networks’ cybersecurity solutions and potential acceleration in revenue growth, driving BTIG’s upgraded assessment of the company’s prospects.