SA analyst upgrades/downgrades: NVDA, HAL, AMZN, MMM

Analysts are reshuffling ratings: Hunting Alphas upgraded NVIDIA (NVDA.OQ) to Buy, citing stronger GPU pricing, renewed performance, and the start of a new AI supercycle with upcoming product catalysts. Bay Area Ideas also upgraded 3M (MMM), highlighting an attractive forward P/E after a valuation pullback and potential catalysts such as the Madison Fire & Rescue acquisition. Conversely, Amazon (AMZN.OQ) and Halliburton (HAL.N) were downgraded — Amazon over free cash flow volatility and high valuation, Halliburton after a strong rally with limited upside and delays in global drilling activity. Market impact: the note reinforces bullish positioning for NVDA amid AI-led demand and could support continued investor interest in AI-related hardware, while the downgrades signal caution for cyclical energy names and high-valuation tech names. Overall sentiment across the coverage is mixed.