Thursday’s most significant analyst recommendations: Nvidia, Apple, Visa, Amazon, Rivian, Micron, Oracle, Roblox, and others.

Wall Street Calls on Thursday

Here’s a roundup of notable analyst actions from Wall Street on Thursday:

Daiwa has reaffirmed its positive stance on Nvidia, increasing its price target from $165 to $115 per share. Analysts noted that the shift in guidance for data center expectations—from $4 billion to $1 billion in May 2023—seemed to be postponed due to various major events. Looking ahead, they anticipate strong quarter growth in 2025, suggesting a return to a bullish phase.

Bank of America also remains optimistic about Nvidia, labeling it as a top pick after discussions with the company’s management team. They highlighted factors like pipeline development and robust developer support as key strengths for the stock.

Mizuho upgraded Visa from Neutral to Outperform, indicating that the transition from cash to cards in the U.S. market is still robust. Historically, this shift has contributed significantly to volume growth, and the duration of this transition is seen as a compelling reason to invest.

Bank of America expressed confidence in steel companies, noting that the U.S. steel market seems resilient with rising prices and strong demand, which is becoming more evident through extended lead times. They also mentioned that a recent increase in steel import duties could rise to 50%.

Jeffries pointed out that energy companies are offering distinct products, contrasting with peers who are streamlining operations and raising prices, suggesting that industry consolidation is hastening these developments.

According to UBS, Amazon is still regarded as a top investment, with the firm emphasizing the company’s synchronization across major business segments.

Jeffries downgraded valuations of certain online pet companies while Morgan Stanley reiterated its positive stance on Apple, highlighting accelerated revenue from the App Store. They noted that overall, the App Store’s performance exceeded forecasts, contributing significantly to Apple’s earnings expectations.

On another note, Servage announced that it is evaluating the risk/reward profile of certain investments, hinting at attractive opportunities. They anticipate returning to double-digit EPS growth in the coming years.

Despite recent stock performance lagging behind previous years since September 2023, analysts remain cautiously optimistic that stock valuations may not be as detrimental as initially thought.

Morgan Stanley reiterated its support for Libyan investments, suggesting suitability for automation, while Barclays also maintained a positive outlook on Oracle, predicting revenue growth in the near future.