Here’s what’s loudest on Wall Street on Wednesday: UBS Reiterates NVIDIA Buy UBS said it maintains a buy rating on NVIDIA heading into next week’s earnings. “On net, we remain bullish and our price target remains at $1,150.”Bank of America Reiterates Alphabet Acquisition has become increasingly bullish on its AI plans. “We continue to see Google as a net beneficiary of AI, with growing Gen-AI integration likely to drive increased usage and spending across search, cloud, and workspace. JPMorgan upgrades Nio from underperforming to neutral JPMorgan said its strategy is improving in upgrading the Chinese electric vehicle company. “Since February, NIO’s stock price has been on a roller coaster, falling 40% to its mid-April lows and then rebounding by a similar amount.” Cantor Fitzgerald, Overweight Cant He reiterated his support for Tesla, saying he continues to be encouraged by Tesla’s fully self-driving company. “TSLA recently lowered its FSD [full-self driving] Deutsche Bank Downgrades Six Flags’ Rating from Buy to Hold Deutsche Bank Says Investors Prefer to Buy Cedar Stock Is Merger with Six Flags Fair “We believe the planned FUN Although we remain confident that the merger with Buy-rated FUN, the surviving company in the new C-Corp structure of this merger of equals, is a biotechnology company, we remain confident that Wells Fargo is a biotechnology company. Wells Fargo begins Wave Life Sciences as overweight, saying it has “an interesting mix of product and technology exposures” “We begin coverage of WVE in OW. $11 PT Wells Fargo Fargo names Natera as top candidate Wells said the fertilizer company is the company’s new top choice. In the second half of the year, NTR will emerge as the top fertilizer candidate due to the priority of potash exposure.” KeyBanc Reiterates Overweight Netflix KeyBanc said it remains bullish on Netflix’s presentation to advertisers this week. “Netflix’s crawl, walk, run advertising efforts continue with our second Upfront. This week, Netflix will host our second Upfront presentation for advertisers. TD Cowen Upgrades Janus Henderson to Buy from Hold TD Cowen said it views the asset manager as “undervalued.” “We upgrade JHG to Buy from Hold, increase 24-25E adjusted EPS, and raise our 12-month price target from $3 to $37.” TD Cowen upgrades TKO Holdings from Hold to Buy TD Cowen said he believes the entertainment and professional wrestling company’s stock has an attractive entry point in upgrading TKO. “We believe strong earnings in the first quarter of 2024 provide an attractive entry point to owning a unique sports and entertainment venue.” Morgan Stanley Reopens Exxon Morgan Stanley Coverage of Exxon Stock The company said it was “achieving attractive growth at a compelling valuation.” “XOM trades at about a 55% discount to the broader market, despite cash flow/SH growth that is 50% above S&P (about twice that of its energy peers) and a high shareholder return yield of about 7%. Morgan Stanley Reiterates Palo Alto as Overweight Morgan Stanley says it remains bullish on Palo Alto stock heading into next week’s earnings. . “Given conservative estimates and a check showing strong deal momentum, we expect next week’s third-quarter results to be favorable.” Bernstein puts General Mills & Campbell Soup on the market after poor results. Upgrades to performance Bernstein on Wednesday upgraded several food companies, saying they are seeing improvement in sales volumes. “U.S. Foods: Upgrades CPB and GIS to market performance, delivers rock-bottom valuation and second-half volume improvement.” Wolf downgrades SunPower from outperform to peer perform Wolf says solar power company is a meme He said he was caught up in a boom and would “come back to reality.” “SPWR is the most extreme example of a meme stock resurgence within cleantech, with a massive short squeeze that drove the stock up ~100% WTD despite a lack of positive fundamental updates.” Morgan・Stanley names Dell as top candidate Morga Stanley raised its price target on the stock, but said it remains the best idea. “Our customer and supply chain research shows that DELL’s AI server and storage business is gaining more momentum than we previously expected, with PT (from $128) hitting a street high of $152. ” Stevens names Cheesecake Factory as best idea Stevens said the stock is the company’s new top choice as foot traffic continues to increase. “Our restaurant coverage ranks The Cheesecake Factory (CAKE) as the best idea.” Barclays reiterates General Motors as overweight Barclays maintains overweight rating on General Motors stock. However, he said that it was a matter of “show me.” “Revealing GM EV’s losses – The path to improving profitability is still a matter of “show me”, but even partial success could lead to an upward trend in profits. ” Trust begins acquisition of Integer Holdings, which Trust said is a unique way for the medical device company to leverage medical technology. “Buy on ITGR, one of the largest medical device outsourcing manufacturers (MDOs), is expected to: (1) have a high-teens EPS growth outlook and (2) increase its exposure to new product cycles across medical technology. “Oppenheimer upgrades Alcon to Outperform” Oppenheimer said he sees big positive catalysts ahead for the ophthalmology company. “We upgrade ALC stock from Perform to Outperform at a PT of $103.” Bank of America Reiterates Apple Acquisition – Showing a bullish attitude towards the Developers Conference. “As we look forward to WWDC, the key questions are: (1) Will Apple choose OpenAI or Google for cloud-based AI, or both? (2) What will the economics be between the two companies? and (3) Does Apple have to change its economics? What is its relationship with Google and its AI monetization model across devices, apps, and subscriptions?” He reiterated what Prosecutor Bye said was that the stock was “best in class.” “Within the framework developed by DA Davidson’s research team, we aim to find the next ‘best in class’ company to find long-term, best-in-class companies with sustainable moats and favorable risk-reward dynamics. of Breed Bison” adds Walmart as a company.
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