Wall Street Updates: Key Moves and Ratings
On Friday, major firms shared their latest assessments on various stocks. Evercore ISI expressed confidence in Apple, reaffirming that its partnership with F1 is a strategic move. They noted that while the initial acquisition cost may raise eyebrows, it’s a long-term play for expanding Apple’s presence in live sports.
JPMorgan upgraded Kodiak Sciences from neutral to overweight, citing the biotech’s stock as an appealing option. They adjusted their price target for December 2026 to $24, up from $15.
In a contrasting move, Stifel downgraded Snap, changing its rating from hold to sell. Their analysis highlighted numerous negative indicators, with a strong belief that TikTok’s dominance in the U.S. isn’t going to wane anytime soon.
Meanwhile, Morgan Stanley upgraded Commercial Metals from Equal Weight to Overweight, stating that the removal of M&A concerns had positively impacted the stock. They were optimistic following the completion of acquisitions that had been hanging over the stock’s performance.
JPMorgan also initiated coverage on AlphaTech with an overweight rating, pointing out that the medical tech company provides unique services. They set a price target of $19 for December 2026.
KeyBank took a fresh look at Amazon, giving it an Overweight rating. They found Amazon’s stock appealing, noting that the projected 2027 price-to-earnings ratio of 22.9x is considerably lower than historical trends, which they believe makes it a good buy opportunity.
JPMorgan upgraded Coinbase, shifting their rating from neutral to overweight, deeming the company’s stock too attractive to overlook amid new monetization opportunities.
Jefferies is standing by its stock price anticipation as it approaches next week’s earnings report, mentioning Microsoft. They noted that after hitting recent record highs, Microsoft is currently stagnant but could see a revaluation due to momentum in Azure, M365, strong booking growth, and increased AI contributions.
Morgan Stanley maintained its equal weight status on Intel, referencing an encouraging earnings report from the third quarter. They highlighted notable margin improvements as a promising trend, suggesting a pattern of exceeding forecasts.
Cantor Fitzgerald expressed optimism in the biotech sector by initiating coverage on Novavax with a buy rating and a price target of $18, projecting significant upside potential.
Citizens JMP upgraded eBay to outperform, crediting AI advancements as beneficial for the platform. They set a price target of $115, believing recent product developments have greatly enhanced user experience.
UBS lifted its stance on Alliant Energy from neutral to buy, anticipating growth in data centers will fuel demand for the company’s services. They raised their price target from $74 to $79.
Rothschild & Co. began coverage on Albemarle with a buy recommendation, seeing the lithium company as well-positioned for success.
Citi upgraded MNTN, indicating there is still potential for growth within the connected television market, citing attractive growth projections at reasonable valuations.
Mizuho reiterated its underperformance rating on Beyond Meat, lowering its price target from $2 to $1.50 due to rising volatility and persistent weak fundamentals, despite actions taken to address capital concerns.
Morgan Stanley upgraded Tractor Supply from underweight to equal weight, predicting margin improvements as corporate growth stabilizes.
Lastly, BTIG announced a bullish stance on Kyivstar Group, initiating coverage with a buy rating and a target price of $17. Additionally, Truist remains optimistic about Uber’s self-driving car collaboration with Nvidia, referencing a recent white paper update on their strategic partnership.
