Wall Street is Pounding the Table Over NVDA, CVNA, DOCS

After swinging in red just yesterday, the major indices are regaining lost momentum.

All after the Federal Reserve President John Williams suggested that the central bank cut rates in December.  He believes the central bank can lower its key interest rate from here, as labor market weakness poses a bigger economic threat than higher inflation.

As a result, the odds of a rate cut jumped to 70%, as compared to 50-50-coin toss odds yesterday, and from 95% odds last month.

AI stocks are also pushing higher this morning, despite more talk of a bubble, which doesn’t exist. Even Nvidia CEO Jensen Huang dispelled bubble fears. “There’s been a lot of talk about an AI bubble. From our vantage point, we see something very different,” as quoted by QZ.com. 

So, it came as no shock that more analysts are jumping on the NVDA bandwagon. 

In fact, analysts at Raymond James reinstated their strong buy rating on NVDA.

The firm said, NVDA “leads in AI and is a core holding. NVIDIA retains significant competitive moats with an extensive and mature software stack resulting from over a decade head start, a strong community supported by the leading developers, and its full-stack systems approach and platform cadence,” as quoted by CNBC.

Carvana 

Analysts at Deutsche Bank just resumed its buy rating on Carvana (CVNA), saying it reminds them of Amazon.

As quoted by CNBC, the firm said, “We are resuming coverage of Carvana with a Buy rating and a $395 Target Price. To us, Carvana, like Amazon before it, is a classic market-leading 1P e-commerce player that is in the early innings of doubling down on the advantages afforded to it via a fully verticalized infrastructure.”

CVNA last traded at $313.25 a share after finding support at $285.02, which was double-bottom support dating back to June 2025.

Doximity 

Raymond James just upgraded Doximity (NYSE: DOCS) to a strong buy rating with a price target of $75. 

As noted by CNBC, Analyst Brian Peterson wrote that he was upgrading the stock following a “significant dislocation” after posting its fiscal second-quarter results in May. He added that at 25 times free cash flow, the stock looks “too compelling to ignore.”

Oversold shares of DOCS last traded at $46.42, which it hasn’t tested since late 2024.