Wednesday’s biggest analyst calls Nvidia
Here are Wednesday’s big calls on Wall Street: Loop reiterates Nvidia as a buy The company said it represents the stock heading into earnings on Wednesday. “Although there has been increasing ‘noise’ throughout the Gen AI ecosystem lately, the amount of our work suggests that NVDA’s expected demand remains the same, and our work frankly has not contributed to any tangible changes in our expectations. ‘ Deutsche Bank develops Gaming & Leisure Properties to be bought from Deutsche said the real estate trust’s shares are “compelling.” with a dividend yield, it offers a compelling return to the mid- and high-end, and we believe that it’s a limited risk.” Bernstein repeats Robinhood as Bernstein has so successfully said the stock is trading “crypto deregulation.” we raise our target price to $51 from $30. HOOD has so far operated a legally restricted crypto business – it was not listed in 15 tokens (vs. more than 250 on Coinbase), did not make money from staking, lending, derivatives or stablecoins – provided on a competitive exchange. Pivotal repeats Netflix as buy Pivotal raises its price target on Netflix to a Street high $1,100 from $925. “Post the (mostly) successful Tyson/Paul fight, which was broadcast to ~65M households (and approximately 150M+ viewers) increased our medium/long term subscriber and ARPU forecasts, combined with a slight increase in our EBITDA bottom line. to a $175 increase in our ’25 NFLX price target to $1,100.” Bank of America reiterates Walmart as a buy Bank of America raised its price target to $105 per share from $95 following earnings on Tuesday. “We see support for WMT’s outlook as broad-based share gains continue and long-term profitability improves supported by strong digital advertising growth and 3P Marketplace seller spending and ecommerce core loss improvement.” Bernstein reiterated that Apple has been very successful. The company said that Apple is “a great idea.” “We view Apple as a quality combination, with single-digit revenue growth, improving margins, direct cash return, and double-digit EPS growth.” Goldman Sachs maintains Microsoft as a buy Goldman said it was holding off on the stock following the company’s Ignite Conference in Chicago on Tuesday. “We reiterate our buy rating and $500 PT following Ignite 2024 where Microsoft unveiled Gen-AI advances across the technology stack, reinforcing our belief in Microsoft’s ability to be the platform of choice as AI moves from the Infrastructure layer to the Platform and Application Layers.” Piper Sandler is founding AppLovin as Piper is overweight and said the software publisher is “an AI innovator with more room to work.” “We start APP with an OW rating and a PT of $400. The stock has been re-rated appropriately following the AI-driven acceleration, but we still see upside. APP’s technology has driven ad revenue growth above the market, and we see room for improvement way to make money. /minute more.” Morgan Stanley reiterates Adobe as overweight Morgan Stanley said the stock is “in a unique position.” “Limited disclosures have left Adobe’s investor story underwhelming amid mounting competitive pressures and GenAI’s accelerated innovation cycle. However, extensive workflows and deep data sets Adobe in a unique position to develop GenAI, while historically low iterations pose a risk/reward attractive.” Morgan Stanley upgrades Lemonade to underweight Morgan Stanley says it’s becoming “very optimistic” for insurance stocks. “Lemonade has set an ambitious goal of growing its business from $1 billion in premiums to $10 billion over the next few years.” JPMorgan reiterates Amazon as overweight The firm said the stock is an excellent prospect heading into the holidays. “Amazon maintains a leading ~45% share of US e-comm and enters the holiday season with strong momentum from early holiday promotions, SD1D deliveries [same day one day]localization, expansion of the Prime ecosystem, and competitive pricing (see pricing research below). AMZN remains our best view.” Evercore ISI adds Dell to strategic outperform list The company said it outperformed earnings next week. ” DELL in good shape to report Oct-qtr rev/EPS estimates of $24.69B/$2.07, driven by strength in ISG’s segment on the heels of storage, general-purpose computing, and AI server capabilities.” Bank of America upgrades Chewy to Buy on underperform Bank of America said in improving the stock that trends are stabilizing. “We upgrade Chewy to Buy on underperform and raise our PO to $40 from $24. Shelters are still taking in more pets on a surplus basis and YoY pet spending is negative, according to BAC’s combined credit and debit card data.” Guggenheim upgrades SolarEdge to sell neutral Guggenheim said he sees a balanced risk/reward for the solar company ” The decline in SEDG’s stock price has brought the stock closer to our previous target of $10. While we are making some additional revisions to our model, we currently view the stock as fair value approximately 10 times our 2026 EBITDA estimate.” Oppenheimer Downgrades JPMorgan Chase to Outperform Oppenheimer downgrades the banking giant to Outperform, however, downgrades JPM to Outperform (from Outperform) as the stock now trades fundamentally in line with our fair value model. .” JPMorgan adds an encouraging watch to EVgo investor meetings “Most investors were keen to better understand the economics of the EVGO unit and the implications of possible changes in policy support under Trump 2.0 Barclays promotes Newell Brands to overweight from equal weight This company said transformation is underway at the consumer products company.” . “In contrast, we believe that NWL’s turnaround strategy is still in the early days of delivering benefits to the P&L and we expect that this will lead to share price performance at JPMorgan that promotes Energizer to neutral from the positive weight reduction in the battery company. “We upgrade to Energizer ( ENR) to a neutral rating as we believe the company is set to have consistent top line and bottom line performance going forward.” Citi lowered its price target neutral to buy The company downgraded the stock following earnings Wednesday morning and said it was losing the share. “We are downgrading TGT from Buy to Neutral. While 3Q is likely to have some unique challenges, we believe that TGT’s poor results in 3Q (and the unsatisfying outlook for 4Q) indicate that TGT is likely to lose share to WMT.” HSBC promotes Trip. com to buy held HSBC boosted travel website following earnings. “Trip.com’s 3Q revenue was largely in line, but adj OP [operating performance] margin is 34.4% higher post-COVID on lower marketing spend.” Bernstein launches Cava as market continues factor’ in the restaurant industry, which has demonstrated the ability to increase SSS by 25% in the last 3 years, while also doubling the number of stores and demonstrating the viability of the concept by expanding location.” Correction: Bank of America upgraded Chewy to Buy for below-expectations The previous version misstated the bank’s previous rating.
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