Wall Street Updates

Here’s a roundup of significant market calls on Wall Street:

Daiwa has maintained its positive stance on Apple, even as some Japanese banks reduced their stock price target from $240 to $230. They emphasized the importance of AI for future growth and are anticipating new Apple Intelligence features that could enhance user experience. The firm views multi-year upgrade cycles for phones and PCs as critical to the company’s core holdings.

Bank of America is repeating its focus on Advanced Micro Devices (AMD), highlighting “multiple growth cylinders” following recent revenue assessments. They are evaluating AMD purchases, which presents immense market opportunities across sectors such as PCs, servers, high-end gaming, and deep learning, where AMD’s current market share is under 30%.

Oppenheimer has upgraded RingCentral from Perform to Outperform, noting that cloud-based communication firms are perceived as defensive investments. After solid second-quarter results and modest increases in fiscal year 2025 EPS and free cash flow guidance, they see value in RingCentral, projecting a target of $35.

Baird has also upgraded Monday.com from Neutral to Outperform, suggesting that investors should consider buying during market setbacks. The firm believes the company is well-positioned to capitalize on early market advantages in collaborative work management.

Additionally, Baird mentioned a potential upgrade for hospitality stocks, citing Aramark’s recent performance. However, forecasts for F3Q25 have seen some declines, which raises concerns about the underlying revenue momentum.

Barclays is keeping an equal weight on Archer Daniels Midland, reflecting a balance in perceived environmental risks and rewards. The firm noted a strategic shift from low-margin operations, focusing more on growth areas in defense systems that could unlock significant market value.

Byloop reaffirmed their purchase ratings on Super Micro following solid revenue. Still, there are concerns about rising competition affecting top-line growth. Revenue revisions have been a source of frustration, but there’s speculation that the worst may be over.

RBC upgraded Hologic, indicating that the health tech company is on track for a reevaluation amid mid-single-digit revenue growth prospects.

Finally, Bank of America added Progressive Corp. to its US1 list, citing strong productivity improvements across various business processes that are likely to bolster operating margins.