Here are the biggest calls on Wall Street on Tuesday:
Argus downgrades Boeing to hold from buy
Argus said it sees too many negative catalysts for Boeing shares.
“BA shares have fallen almost 35% year-to-date due to new problems with its MAX airplane that have ultimately led to the replacement of the chairman of the board and the planned early retirement of the CEO.”
Bank of America reiterates Tesla as buy
Bank of America said it’s standing by its buy rating on the electric-vehicle maker.
“In our view, TSLA has revitalized the growth narrative with 1Q:24 commentary and results.”
UBS reiterates Nvidia as buy
UBS raised its price target on Nvidia and said its supply chain checks show demand is growing.
“We maintain our Buy rating and raise our PT from $1100 to $1,150.”
Morgan Stanley initiates Dyne Therapeutics at overweight
Morgan Stanley said in its initiation of Dyne that the biotech company has “potential in multiple serious muscle diseases.”
“Emerging Leader in Serious Muscle Diseases; Initiate at Overweight.”
JPMorgan adds a positive catalyst watch on Monday.com
JPMorgan added a positive catalyst watch to Monday.com, saying it sees demand picking up for the project management solutions company.
“We are placing Monday.com on Positive Catalyst Watch.”
Oppenheimer reiterates Apple as outperform
Oppenheimer said it has a “neutral” view of the company’s earnings report later this week but is sticking with an outperform rating.
“We take a neutral view into AAPL’s F2Q24 earnings.”
Raymond James reiterates Amazon as a top pick
Raymond James is standing by its strong rating on the stock ahead of earnings postmarket Tuesday afternoon.
“AMZN: + tactical setup and + long-term bias into earnings = remain buyers of top pick and Strong Buy AMZN.”
Mizuho reiterates Airbnb as a top pick
Mizuho sees numerous positive catalysts ahead for the online travel company.
“For ABNB, we see catalysts in the Summer Olympics, market share gains from elevated hotel pricing, and the L-T upside from potential monetization of advertising.”
Citi reiterates Coinbase as neutral
Citi raised its price target on the stock to $260 per share from $151.
“It’s challenging not to be positive on COIN... Aside from the sharp YTD rise in token prices, Coinbase has demonstrated continued momentum in its category leadership, emerging as the key services provider for BTC ETFs and becoming the leading layer 2 network for Ethereum via Base.”
Needham downgrades Paramount to hold from buy
Needham downgraded the CBS TV parent due to too much uncertainty.
“We downgrade PARA to Hold owing to rising uncertainty relating to: 1) leadership shift from CEO to a committee of 3; 2) higher Charter and Upfront rev risks; 3) ownership; and, 4) strategy.”
Deutsche Bank initiates Live Nation at buy
Deutsche said investors should buy the dip in shares of the concert and event ticketing company.
“We are initiating coverage of Live Nation with a Buy rating and $120 price target.”
Stephens initiates Excelerate Energy at buy
Stephens is bullish on shares of the natural gas company.
“We are initiating coverage on EE with an Overweight rating.”
Loop initiates Integral Ad Science Holding at buy
Loop sees an attractive risk/reward for shares of the media company.
“We are initiating coverage of Integral Ad Science with a Buy rating and a $15 price target.”
Barclays upgrades UMB Financial Corp to overweight from equal weight
Barclays upgraded the Kansas City-based bank following its latest earnings report.
“A quarter that delivered a resounding beat to consensus and our estimates on solid revenue growth was overshadowed by the news UMBF would acquire HTLF (not covered) in an all-stock deal supported by a capital raise.”
JPMorgan initiates Immunome at overweight
JPMorgan said the biotech company is well positioned.
“We initiate coverage on IMNM with an OW and a Dec-2024 PT of $24.”
Morgan Stanley initiates Contineum Therapeutics at overweight
Morgan Stanley said the biopharma company is a winner in “targeting neuroscience, inflammation, and immunology.”
“Contineum is pursuing large markets with reasons to believe its candidates will have better safety and efficacy than its competition. Importantly, there is external human clinical validation to the company’s approaches.”
Jefferies initiates Ralph Lauren as buy
Jefferies began research coverage of the clothing maker, saying it has brand momentum.
“RL has been successful in elevating its portfolio as evidenced by AUR [average unit retail] gains of >70% over the last several years.”
Jefferies downgrades Chegg to underperform from hold
Jefferies downgraded the education company and says it doesn’t see a “return to durable growth.”
“We are downgrading CHGG to Underperform (from Hold) and lowering our PT to $4 (from $7) following the Q1 print which included Q2 guidance that was 8%/15% below consensus.”
Comments