Wednesday’s biggest analyst calls Nvidia
Here are Wednesday’s big calls on Wall Street: Loop reiterates Nvidia as a buy The company said it represents the stock heading into earnings on Wednesday. “Although there has been increasing ‘noise’ throughout the Gen AI ecosystem lately, the amount of our work suggests that NVDA’s expected demand remains the same, and our work frankly has not contributed to any tangible changes in our expectations. ‘ Deutsche Bank develops Gaming & Leisure Properties to be bought from Deutsche said the real estate trust’s shares are “compelling,” with a dividend yield, offering compelling mid-to-high returns, and what we believe is relatively low risk. Bernstein echoes Robinhood in that Bernstein said the stock is a “crypto ‘breakout'” trade. HOOD has so far operated a legally restricted crypto business – it was not listed in 15 tokens (vs. more than 250 on Coinbase), did not make money from staking, lending, derivatives or stablecoins – provided on a competitive exchange. Pivotal repeats Netflix as buy Pivotal raises its price target on Netflix to a Street high $1,100 from $925. “Post the (mostly) successful Tyson/Paul fight, which was broadcast to ~65M households (and approximately 150M+ viewers) increased our medium/long term subscriber and ARPU forecasts, combined with a slight increase in our EBITDA bottom line. to a $175 increase in our ’25 NFLX price target to $1,100.” Bank of America reiterates its bullish stance on Walmart as a buy Bank of America raised its price target to $105 per share from $95 following Tuesday’s earnings. “We see support for WMT’s outlook as broad-based share gains continue and long-term profitability improves supported by strong digital advertising growth and 3P Marketplace seller spending and ecommerce core loss improvement.” Bernstein reiterated that Apple has been very successful The company said that Apple is “a great idea.” “We view Apple as a quality combination, with single-digit revenue growth, improving margins, direct cash return, and double-digit EPS growth.” Goldman Sachs maintains Microsoft as a buy Goldman said it was holding off on the stock following the company’s Ignite Conference in Chicago on Tuesday. “We reiterate our buy rating and $500 PT following Ignite 2024 where Microsoft unveiled Gen-AI advances across the technology stack, reinforcing our belief in Microsoft’s ability to be the platform of choice as AI moves from the Infrastructure layer to the Platform and Application Layers.” Piper Sandler is founding AppLovin as Piper is overweight and said the software publisher is “an AI innovator with more room to work.” “We start APP with an OW rating and a PT of $400. The stock has been re-rated appropriately following the AI-driven acceleration, but we still see upside. APP’s technology has driven ad revenue growth above the market, and we see room for improvement way to make money. /minute more.” Morgan Stanley reiterates Adobe as overweight Morgan Stanley said the stock is “in a unique position.” “Limited disclosures have left Adobe’s investor story underwhelming amid mounting competitive pressures and GenAI’s accelerated innovation cycle. However, extensive workflows and deep data uniquely set Adobe up for GenAI development, while historically low iterations pose a risk/reward attractive.” Morgan Stanley upgrades Lemonade to underweight Morgan Stanley says it’s becoming “very optimistic” for insurance stocks. “Lemonade has set an ambitious goal of growing its business from $1 billion in premiums to $10 billion over the next few years.” JPMorgan Repeats Amazon as Overweight The firm said the stock is an excellent prospect heading into the holidays. “Amazon maintains a leading ~45% share of US e-comm and enters the holiday season with a strong push for early holiday promotions, delivering SD1D [same day one day]localization, expansion of the Prime ecosystem, and competitive pricing (see pricing research below). AMZN remains our best view.” Evercore ISI adds Dell to strategic outperform list The company said it outperformed earnings next week. ” DELL in good shape to report Oct-qtr rev/EPS estimates of $24.69B/$2.07, driven by strength in ISG’s segment on the heels of storage, general-purpose computing, and server AI capabilities.” Bank of America advances Chewy to buy underperforming Bank of America said in its stock update “We upgrade Chewy to Buy from Underperform and raise our PO to $40 from $24. Shelters are still taking in more pets on a surplus basis and YoY pet spending is negative, according to BAC’s combined credit and debit card data.” Guggenheim upgrades SolarEdge to sell neutral Guggenheim said he sees a balanced risk/reward for the solar company ” The decline in SEDG’s stock price has brought the stock closer to our previous target of $10. While we are making some additional revisions to our model, we currently view the stock as fair value approximately 10 times our 2026 EBITDA estimate.” Oppenheimer downgraded JPMorgan Chase to Outperform Oppenheimer downgraded the banking giant especially in the calculations, however, they downgraded JPM to Perform (from Outperform) as the stock now trades at basically our fair value model. ” JPMorgan adds bullish watch to EVgo The company said it has a strong rating on the electric charging company after a series of investor meetings. “Many investors wanted to better understand the economics of the EVGO unit and the implications of possible changes. to support policy under Trump 2.0.” Barclays upgrades Newell Brands to overweight from equal weight The company said changes are continuing in consumer products. the company “In contrast, we believe that the NWL turnaround strategy is still in the early days of delivering benefits to the P&L and we expect this to lead to share price performance at JPMorgan upgrading Energizer to neutral from underweight.” which is very constructive for the battery company. “We upgrade Energizer (ENR) to a neutral rating as we believe the company is set to have a consistent top line and bottom line performance going forward.” Citi Cuts Price to Neutral Buy Target The company downgraded the stock following earnings Wednesday morning and said it was losing dividends. “We are downgrading TGT from Buy to Neutral. While 3Q may have some unique challenges, we believe TGT’s poor results in 3Q (and a disappointing outlook for 4Q) indicate that TGT may lose share on WMT.” HSBC develops Trip.com to buy and hold HSBC develops travel website following income. “Trip.com’s 3Q revenue was largely in line, but adj OP [operating performance] margin is 34.4% higher post-COVID on lower marketing spend.” Bernstein launches Cava as market continues item’ in the restaurant industry, which has demonstrated the ability to grow SSS by 25% in the past 3 years, while doubling its number of stores and demonstrating the viability of the concept by expanding its geographic footprint.” Correction: Bank of America upgraded Chewy to buy in the wrong place. The previous version misplaced the previous bank rating.
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