Wall Street Updates: Key Moves and Ratings
This Wednesday, several notable changes and upgrades made waves on Wall Street. UBS upgraded Crescent Energy, indicating it’s a good entry point, starting with a buy rating and a price target of $13 for CRGY.
Meanwhile, Morgan Stanley named FTAI Aviation as its top pick in the aerospace sector. The firm highlighted three key ideas: FTAI for commercial aerospace, Northrop Grumman (NOC) in defense, and Hawkeye 360 (HAWK) in space technology. They believe these stocks offer an attractive blend of long-term growth and sustainability.
On another front, Mr. Rosenblatt pointed out that fintech companies are undervalued and initiated securitizations. Even though SECZ debuted with a significant drop (down 36% last week), Rosenblatt expects the firm’s unique position and capabilities could still pay off in the long run.
Wells Fargo sees promise in the biotech sector, launching coverage on Farvalis with an overweight rating and a DCF-based price target of $55 for PHVS. They perceive strong fundamentals supporting the stock’s outlook.
Benchmark initiated coverage of Popular with a buy rating as they noted improving fundamentals. Their price target of $201 reflects confidence that this positive trend will continue.
Stevens also expressed optimism for UMB Financial, starting it at overweight thanks to its strong balance sheet and ability to grow faster than competitors while maintaining credit quality.
UBS began covering SM Energy with a buy rating and a price target of $36, suggesting they see potential for better returns on capital there. Macquarie’s initiation of UMC caught attention as well; being a semiconductor firm focusing on mature nodes aligns them favorably in the current market.
Citizens indicated that FedEx Freight looks appealing, although upcoming financial statements might contain odd year-to-year comparisons as the company transitions to a December fiscal year by 2026. They seem confident about investing despite this complexity.
There’s bullish sentiment around FedEx stock too. With the expected completion of the integration of its Ground and Express divisions by 2027, many believe the company is gearing up for significant growth, particularly in its healthcare and B2B areas.
Raymond James reiterated its support for NVIDIA, affirming that the stock appears robust. As supply chains showcase strengths in accelerating platforms such as AI, the demand—and resultant shipments—continue to improve.
Conversely, Oppenheimer downgraded IBM’s outlook following some disappointing pre-announcements, indicating that the company’s software strategy needs more time to prove effective.
Piper Sandler upgraded Arthur J. Gallagher from neutral to overweight, noting that the insurer is thriving. They see it as a quality retail broker with solid M&A potential.
UBS also commented on SpaceX, marking July 16 as a significant date with the 13th test flight of Starship. Success here could indicate greater maturity for the rocket following previous flights.
Deutsche Bank is optimistic about AMD, raising its price target from $670 to $700 as they expect the company to prove the resilience of its CPUs and GPUs at an upcoming event focused on technology rather than just finance.
They also reaffirmed their commitment to Tesla, highlighting strong delivery numbers and expecting continuous gains in upcoming quarters.
Citi maintained a positive outlook on Microsoft, lowering its price target from $620 to $570 but emphasizing excitement around developments in CoPilot and the company’s strategic positioning in the evolving AI landscape.
Bank of America launched coverage on Ring Energy, seeing upside potential in the E&P company focused on Permian oil and gas production, setting a price target of $2.00 per share.
Meanwhile, Canaccord acquired Deep Fission, which they believe has further operational potential. Guggenheim upgraded Digital Realty from neutral to buy, raising its price target to $200 after favorable discussions with management.
They also expressed optimism for Palantir, noting a potential recovery in federal transactions and a more substantial presence in the U.S. commercial sector.
Lastly, Morgan Stanley upgraded Cava to overweight, recognizing it as a standout in its sector, and showed optimism for Madison Square Garden Sports following several promising developments for the franchise’s teams.
