Here are some of the most notable predictions on Wall Street on Thursday: Morgan Stanley Reiterates Overweight on Tesla Morgan Stanley said it will maintain its overweight rating on the stock despite the volatility. “Tesla’s April global EV share fell to 12% from 19% last month and 17% year to date. China’s implementation of tariffs could contribute to near-term monthly volatility in global EVs.” Oppenheimer Reiterates Walmart as Top Pick Oppenheimer said it favors Walmart shares. “We maintain our top pick status as the company continues to target a multi-year profit boom.” DA Davidson Reiterates Neutral on Apple DA Davidson said he will maintain his neutral rating on the stock ahead of the company’s Worldwide Developers Conference next week. “At WWDC, we expect Apple to unveil its long-term vision for implementing generative AI across a diverse ecosystem of personal devices.” Goldman Sachs Recommends Buy on NVIDIA Goldman said it maintained a buy recommendation on the stock. “We continue to view NVIDIA as the industry standard and key driver as it relates to faster computing speeds required for the development/deployment of next-generation AI, and therefore reiterate our buy recommendation on the stock (which is also on our Americas conviction list) and believe it has the potential to significantly outperform the Street consensus estimates. Bernstein Selects Diamondback Energy as Outperform Bernstein said he sees a number of positive catalysts for the oil and gas company. “FANG (Midland-focused Permian pure play oil companies) were able to negotiate a unique stock + cash deal with Endeavor Energy Resources, the largest privately held Midland shale company. No other public oil company has such focus and scale in the most prolific shale basin on the planet.” Redburn Atlantic Equities Raises Rating on United Airlines to Buy from Hold Redburn said United Airlines’ free cash flow generation is improving. “We upgraded United Airlines to Buy as the latest earnings guidance, combined with lower capital expenditures, is driving strong free cash flow generation.” Citi upgrades eBay to Buy from Neutral Citi resumed coverage of eBay, saying its valuation is attractive. “Updated rating to Buy from Neutral on share repurchase catalyst and improving fundamentals at fair valuation.” Citi downgrades Dollar Tree to Neutral from Buy Citi said it sees a better balance of risk and reward. “And with the strong Dollar Tree business missing first-quarter compensation plans and the rollout of multi-price points facing a learning curve (execution issues), we see a better balance of risk and reward, making the situation more complicated in a still-uncertain consumer environment.” Goldman Sachs upgrades Ultragenyx to Buy from Neutral Goldman said it was bullish on the biopharmaceutical company’s product pipeline. “We upgraded RARE to Buy from Neutral as we have growing conviction in the monoclonal antibody setrusumab in bone disease, osteogenesis imperfecta (OI), and see room for upside per its diverse rare disease pipeline.” JP Morgan upgrades StoneCo to Overweight from Neutral In an upgrade to the fintech solutions company, JP Morgan said the company has “attractive” earnings growth potential. “We’ve been watching from the sidelinesMorgan Stanley reiterates JP Morgan overweightMorgan Stanley is more bullish on the stock after meeting with the company’s management, saying: “JP Morgan is building the infrastructure to advise and finance clients through the carbon transition for the next decade or more.” BMO upgrades Rubrik to Outperform from Market AverageBMO said there is now an attractive entry point into the cybersecurity company’s shares. “We wrote at launch that we liked RBRK’s story but wanted a better entry point as we expected limited multiple expansion. Over the past two weeks, RBRK’s shares have fallen about 14%.UBS upgrades C.H. Robinson to neutral from sellUBS said the transportation company was showing improving performance. “We are upgrading our rating on CHRW to neutral from sell due to the company’s efforts to reduce costs and help improve performance and we expect risks to our EPS forecast to have shifted to the upside.”Mizuho upgrades Sealed Air to buy from neutralMizuho upgraded the aviation products company, saying a volume inflection point is “imminent.” “We are upgrading Sealed Air (SEE) to Buy from Neutral and increasing our target price to $50 from $36. SEE has significantly underperformed the market over the past two years (down ~38% versus ~4% decline in the S&P Packaging Index) due to negative volume trends.” Deutsche Bank Recommends Zeekr to Buy Deutsche Bank said it is bullish on the China-based EV company’s shares. “Zeekr is a leading premium smart electric vehicle (EV) manufacturer in China with an established premium brand and leadership in electrification and auto industry innovation.” JP Morgan Restate Alphabet to Overweight JP Morgan said the company is “on the offensive with Gen AI.” ” Coming off first quarter earnings, Google I/O and Google Marketing Live (GML), the company is on the offensive with Gen AI and sees the pace of innovation quickening as the AI search landscape expands to consumers and advertisers.” Jefferies upgrades Capital One to Buy from Hold Jefferies said Capital One sees a “win-win” situation both as a standalone company and in conjunction with Discover. “Whether you own Disney on its own or in combination with DFS, there are benefits to both,” it said. Bernstein reiterates Disney outperform Bernstein said it maintains its outperform rating on Disney shares and is bullish on the Parks experience in the long term. “Disney has been in a penalty box since its fiscal second quarter earnings call. All eyes were on DTC heading into the announcement, but even its first-ever profitable quarter wasn’t enough to overcome weak guidance for Parks, which accounted for 70% of the company’s operating profit in 2023.” Evercore ISI Adds Carvana to Tactical Outperform List Evercore said it is bullish on the stock heading into its June 21 earnings report. “We are adding CVNA to our positive tactical trade list ahead of today’s competitor conference appearance, KMX F1Q earnings announcement on June 21, and Carvana’s IRC Inspection Center Tour (Rocklin, Calif.) on June 25.” UBS to Buy Netflix Again UBS said it sees momentum following a survey of ad buyers. “Netflix saw the largest increase in favorability among CTV platforms compared to last year’s survey.” MoffettNathanson Downgrades Shopify to Neutral from Buy Moffett said there are too many negative factors for the stock. “All good things must come to an end, and in Shopify’s case, it will come to an end with rising customer acquisition costs. The company has wrapped its FY22/23 merchant cohort, and merchant chartering should allow Shopify to continue to feed the funnel.” JP Morgan Re-Overweights Broadcom The firm said it maintained an overweight rating on Broadcom shares. “The company should be a big beneficiary of the trend towards more custom chip designs as major cloud titans/OEMs look to drive performance, power and cost differentiation along with software frameworks.”
CHOOSE LANGUAGE
SELECT LANGUAGE BELOW
