Wall Street Calls on Thursday

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

• Netflix: Evercore ISI reiterated its positive outlook ahead of an investor event, stating that Netflix is “dominating the streaming market” due to its effective execution, impressive content lineup, and substantial scale.
• JetBlue: Raymond James has downgraded JetBlue, citing a balanced risk-reward at current valuations. The stock reached its target price of $5.00 following a tactical upgrade in April.
• Petrobras: Jefferies upgraded Petrobras from Hold to Buy, noting that Latin American energy companies present appealing risk-reward scenarios. They emphasized the impact of falling oil prices and dividend commitments on stock incentives.
• Bank of America: TD Cowen initiated coverage on Bank of America, pointing out its strong competitive stance, which stems from enhanced customer experiences rather than pricing strategies.
• Dell: Bank of America maintained its stance on Dell ahead of its revenue announcement on May 29.
• Alcoa: UBS downgraded Alcoa, pointing out the lack of convincing stock valuation despite an improved risk profile and reduced negative demand risks.
• Webtoon: Citi initiated coverage on Webtoon, calling it an undervalued storytelling platform with a Buy rating. They noted a significant drop in market value since its June 2024 IPO but believe it’s on the path to recovery.
• Microsoft: Citi raised its price target for Microsoft from $480 to $540, expressing optimism about its main position in generative AI.
• Rubrik: Roth MKM began coverage on Rubrik with a Buy rating, labeling the company a leader in data security.
• Cisco: Wells Fargo upgraded Cisco to Outperform, highlighting significant AI momentum following its revenue report.
• Nike: TD Cowen noted that NKE has potential for recovery, bolstered by improved market conditions and innovative strategies.
• Dick’s Sporting Goods: TD Cowen also expressed negativity around Dick’s acquisition of Foot Locker, suggesting that FL will face competition from more agile sneaker brands.
• Boeing: Wolfe Financial raised Boeing’s price target from $195 to $230 following a contract with Qatar Airways for widebody aircraft.
• CoreWeave: Bank of America called CoreWeave “the best variety” in AI hyperscale after its recent revenue performance.
• CrowdStrike: Mizuho downgraded CrowdStrike to Neutral, awaiting a better entry point, despite acknowledging its robust stock performance.
• Pinterest: Wolfe upgraded Pinterest to Outperform, citing improvements in the overall health of the stock amidst a less challenging macro environment.
• Nvidia: KeyBanc reiterated its positive outlook on Nvidia, emphasizing the company’s potential benefits from the growing demand for AI and machine learning in data centers.
• Advanced Micro Devices and Micron: Citi rated AMD as Neutral and Micron as Buy, anticipating mutual benefits from a recent deal in Saudi Arabia.
• CoreWeave Performance: DA Davidson reduced its rating on CoreWeave to Neutral, indicating an update in guidance after a recent earnings report.