Top Calls on Wall Street: Apple, Tesla, Microsoft, Nvidia, Qualcomm, General Motors and More

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Here are Thursday’s biggest calls on Wall Street:

Oppenheimer reiterates Apple as outperform

Oppenheimer said it’s standing by the stock heading into earnings on Thursday afternoon.

“We expect AAPL to report in-line F1Q24 revenues (flat to 1% growth Y/Y) and similar trend for F2Q24.”

Redburn Atlantic Equities reiterates Tesla as sell

Redburn said it’s sticking with its sell rating following Tesla’s disappointing earnings results last week.

“Messages from last week’s Q4 results add conviction to our Sell thesis.”

Goldman Sachs reiterates Microsoft as buy

Goldman said it’s standing by the tech giant after its earnings report earlier this week.

“We reiterate our Buy rating and $450 PT, as results validate our thesis that Microsoft is sitting at the nexus of the technological shift toward an AI-first IT stack.

Mizuho reiterates Nvidia as buy

Mizuho said it’s standing by the stock heading into its GTC Conference in March.

“We continue to see NVDA as the best AI/ML play, pushing the tip of the spear in AI training performance, as it hosts GTC 2024 on 3/18-21.”

Citi downgrades Qualcomm to neutral from buy

Citi downgraded the stock after its earnings report on Wednesday citing lower-than-expected guidance.

“Yesterday after the close, Qualcomm reported good results but guided below Consensus driven by share loss at Samsung.”

Morgan Stanley reiterates General Motors as overweight

Morgan Stanley said it’s standing by the auto giant and that GM shares are “cheap.”

“We raise our PT to $43 from $40… Our revised target puts the stock on just over 5x our FY24 EPS and 4.8x midpoint of company guide.”

JPMorgan upgrades AT&T to overweight from neutral

JPMorgan said in its upgrade of AT&T that the stock has an attractive valuation.

“The company has been able to show consistent execution in its wireless and broadband businesses and we see solid long-term growth for both segments, especially in broadband with its ongoing fiber build along with incremental opportunities in and out of existing markets.”

RBC downgrades New York Community Bancorp to sector perform from outperform

RBC downgraded New York Community Bancorp after the regional banks disappointing quarterly results on Wednesday.

“Results had several negative surprises, including a higher-than-expected provision and reserve build, a meaningfully lower margin and outlook, and a dividend cut announcement.”

Morgan Stanley reiterates Bloom Energy as overweight

Morgan Stanley said the energy company is an “underappreciated AI winner.”

“BE is a secular winner as the world adopts GenAI given the significant incremental power demand associated with data center growth, coupled with grid infrastructure constraints and reliability concerns.”

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