Here are some stocks to watch on Wall Street on Wednesday: Stifel recommends buying Penumbra Stifel said it is bullish on the medical device company's stock. “We also believe PEN is well-positioned as one of the few medical technology companies with positive free cash flow and high growth.” HSBC recommends buying KKR HSBC said the private equity firm is well-positioned. “We recommend buying KKR & Co and cover it with a $148 price target. We believe the market is underpricing the company's strong earnings growth prospects.” Bernstein reiterates Apple rating to outperform Bernstein urged investors to remain calm, citing concerns about declining iPhone demand for Apple. “There is concern among investors about slower lead/wait times for the new iPhones and the potential for related declines in order volumes.” Bank of America recommends buying FedEx Bank of America lowered its price target to $345 a share from $347 but said it was bullish heading into next week's earnings. “FedEx is scheduled to report its Q1 '25 earnings on Thursday (Sept. 19).” Morgan Stanley reiterated its overweight rating on Tesla. Morgan Stanley said Tesla remains its top pick for the company. “Rising global data center emissions fuel Tesla Energy bulls, but highlight compliance risks for auto OEMs.” [original equipment manufacturers]BTIG upgrades GE Healthcare to Buy from Neutral BTIG said conditions are improving for the medical solutions and systems company's stock. “We believe conditions are improving for GEHC after a challenging first half of 2024, when domestic developments in China hindered performance.” UBS rates Talen Energy as Buy UBS said the energy company has “undervalued upside potential.” “Rates TLN to Buy.” JPMorgan rates Civitas Resources as Overweight JPMorgan said the carbon energy producer has strong share repurchase potential. “Rates coverage of Civitas Resources (CIVI) to Overweight with a $67 price target for Dec. 25.” Wells Fargo reprices Micron as Overweight Wells lowered its price target on the stock to $175 from $190 but said it will hold the stock ahead of its earnings release next week. “We are de-risking our forward MU estimate, but there are growing concerns that we could enter a down cycle for DRAM in the first half of 2025.” Barclays Raises VF Corp Rating to Overweight from Equal Weight Barclays said the owner of brands like Vans is too attractive to ignore. “We are raising VFC shares to overweight from equal weight because we believe the risk/reward is attractive at current levels.” Barclays Raises Victoria's Secret Rating to Equal Weight from Underweight Barclays said it sees a better balance of risk and reward. “We are upgrading VSCO shares because we believe the risk/reward is more balanced given 1) new management that will have a material impact in FY25 and 2) the consensus forecast for 2H24 is low enough.” Wolf Downgrades ResMed to Underperform from In-line with Peers Wolf said he thinks ResMed has too many risks in his downgrade of the sleep apnea drug. “We believe Lilly's launch of an indication for its GLP-1 drug tirzepatide for obstructive sleep apnea (OSA) poses a significant risk of disrupting/distorting the patient funnel.” Bank of America recommends buying on The TJX Companies, Burlington and Ross Bank of America said the off-price retailer is best positioned for a younger demographic. “We believe these share changes indicate a long path of market share gain, and therefore we maintain our buy recommendations on BURL, ROST and TJX.” Bank of America reiterates its buy recommendation on Starbucks The firm said it continues to support shares of the coffee giant. “We are raising our PO. [price offering] Reflecting increased confidence in SBUX's execution, they raised their relative multiple to $118 from $112 (prior day). Goldman Sachs Recommends Buy on Marriott Goldman said the hotel company is a quality compounding business. “MAR's high index to U.S. full-service, upscale, urban hotels (equivalent to upscale business and group travel) is showing up as a more delayed recovery versus leisure, which has driven this recovery. So while leisure trends have stalled a bit, the business is still in recovery mode.” Needham Recommends Buy on Supermicro Computer Needham called the data center AI company “the coolest kid in AI.” “We are initiating coverage on Supermicro (SMCI) with a buy recommendation and a $600 price target.” Guggenheim Raises SiriusXM to Buy from Neutral Guggenheim said he is bullish on SiriusXM shares. “We see strong FCF prospects, capital returns and stable subscriber profile as we weather near-term technical headwinds.” Bank of America called Alphabet, Meta, Amazon and Uber Buys again, saying Internet technology companies are a great way to “position more defensively.” We highlight Google, Meta, Amazon and Uber as potential beneficiaries of the sector to position more defensively during downturns in the economic cycle.” William Blair Announces NVIDIA as Outperform William Blair said the company is a “leader in parallel computing.” “NVIDIA has a long and storied history of designing parallel computing systems to handle complex processing tasks.” William Blair Announces Broadcom as Outperform William Blair said in a stock announcement that the stock still has room to grow. “We see room for continued steady growth through fiscal 2025 and 2026 driven by increasing demand for custom chips, improving software monetization, a recovery in non-AI semiconductors, and accelerating growth of Ethernet AI network fabrics built on Broadcom's networking solutions. Ethernet is just beginning to replace InfiniBand as the AI network of choice.” JPMorgan Reiterates Roku as Overweight JPMorgan raised its price target on the stock to $90 per share from $90 per share. It rose to $80 after a series of investor meetings. Roku has made platform monetization a top priority, with management reiterating its expectation that third-party DSPs will accelerate platform revenue growth in the fourth quarter of 2025. [demand side platforms] Partnerships, home screen changes, subscriptions, and more. William Blair reiterated Arm's dominance, saying the company boasts a “best-in-class financial position.” “Arm provides critical computing IP that powers over $200 billion in chip value across mobile, automotive, IoT and data center markets.”
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