Wednesday brought a fresh batch of analyst initiations across multiple sectors, and the bulls were out in force. Five companies caught the attention of Wall Street's coverage teams, with three earning Buy ratings and one Market Outperform—not a bad day for the newly-covered.

Leading the optimism, BTIG analyst Kambiz Yazdi launched coverage on Rapport Therapeutics Inc (RAPP) with a Buy rating and a $47 price target. That's an ambitious call considering the stock closed at $27.01 on Tuesday, implying nearly 74% upside if Yazdi's thesis plays out.

Over in the crypto mining space, Citizens analyst Greg Miller initiated coverage on Riot Platforms Inc (RIOT) with a Market Outperform rating and $25 price target. Riot shares closed Tuesday at $13.42, so Miller is betting on an 86% rally from current levels—a bold stance on the volatile Bitcoin miner.

Bank of America Securities analyst Tomer Zilberman started coverage on Extreme Networks Inc (EXTR) with a Buy rating and $24 price target. The networking equipment provider closed at $16.96 on Tuesday, giving Zilberman's target about 42% upside potential.

Not every initiation was bullish, though. Canaccord Genuity analyst Luke Morison took a more cautious approach with Insight Enterprises Inc (NSIT), launching coverage with a Hold rating and $100 price target. Insight closed at $86.74 on Tuesday, suggesting Morison sees limited near-term upside.

Rounding out the list, UBS analyst Gavin Parsons began coverage on Parsons Corp (PSN) with a Buy rating and $107 price target. Parsons shares closed at $84.60 on Tuesday, implying roughly 26% upside if the defense and infrastructure contractor hits Parsons' mark.

The wave of initiations reflects renewed analyst interest in these names, with the bullish tilt suggesting at least some corners of Wall Street see opportunity in current valuations.