Top Calls on Wall Street: Tesla, Nvidia, Roblox, Western Digital, Boston Beer and More

Tiger Newspress05-14

Here are the biggest calls on Wall Street on Tuesday:

Tesla outlook is murky after earnings, Barclays says

Tesla’s first-quarter earnings report suggests uncertainty ahead for the electric vehicle maker, says Barclays.

The company reported a 9% drop in quarterly revenue, the largest drop since 2012. Earnings also came in below analysts’ estimates amid rising competition and weak demand.

Barclays has an equal weight rating on Tesla shares, which are down 30.8% year to date.

Deutsche retains hold on Nvidia ahead of results

Nvidia’s healthy beat-and-raise momentum will likely continue when it announces its first-quarter earnings on May 22, Deutsche Bank believes. However, the firm thinks shares are already fully valued by investors.

Analyst Ross Seymore reiterated his hold rating on the stock. He has a $850 price target on shares, indicating shares pulling back nearly 6% from Monday’s close.

Roth steps to the sidelines on Roblox

It’ll take some time for Roblox to regain investors’ trust after the company pulled back its forward guidance, according to Roth Capital Partners.

The firm downgraded shares to neutral from buy while lowering its price target to $35 from $55. The new target price implies shares gaining 13% from Monday’s close.

Citi initiates coverage of Western Digital with a Buy rating

Citi initiated coverage of Western Digital with a Buy rating and $90 price target. Citi's positive view on Western Digital is based on a cyclical recovery in the storage industry coupled with the company's exposure to both hard disk drive and solid state.

Evercore ISI initiates coverage of Regeneron with an Outperform rating

Evercore ISI initiated coverage of Regeneron with an Outperform rating and $1,150 price target. Dupixent's growth and Eylea's resiliency enable substantial earnings and cash flow accretion, while Regeneron's broad pipeline offers enhanced optionality, the firm tells investors in a research note.

Jefferies upgrades Boston Beer to buy

Jefferies believes Boston Beer, which owns Samuel Adams and Truly hard seltzer, could see multiple expansion.

Analyst Kaumil Gajrawala forecasts flavored malt beverages and ready-to-drink cocktails sales could grow from 4% to 5% — categories in which Boston Beers is already well-exposed. In particular, Boston Beer’s Twisted Tea is dominating the rising hard teas sector, according to Gajrawala.

Gajrawala upgraded Boston Beer to buy from hold. He also increased his price target to $360 from $335, indicating 26.8% upside from Monday’s close.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Dr Rck
05-14
Dr Rck
Btw, inflation is when too much money chasing after too few goods! So if you see the stock market continues to climb for a type of stock like TSLA it means more money are chasing after a stock that has high multiples of PE and also when its scorecard is simply not improving, that's where inflation is sticky so something the Fed may take longer to reduce interest rate, make sense?
Dr Rck
05-14
Dr Rck
But TSLA fans still buy.. but it won't be long before a sharp drop I anticipate. Either way, I would like to see how TSLA fare by the end of this week or early next week!