Here are Tuesday’s biggest calls on Wall Street:
Berenberg initiates Palo Alto Networks as buy
Berenberg said the company is “best-in-class.”
“Palo Alto Networks (Palo Alto) is a rare quality compounder in cybersecurity, combining multiple growth engines with strong product breadth and best-in-class execution.”
Bank of America reiterates Tesla as buy
Bank of America said it’s sticking with the stock ahead of earnings this week.
“We think investor focus for TSLA 1Q earnings will be on its robotaxi deployments, as it looks to disrupt the rideshare market and capture a portion of the $1tn+ market opportunity and as competition accelerates with Uber & Waymo.”
Raymond James upgrades Ball Corp to outperform from market perform
Raymond James said it sees “outsized growth” for the can company.
“We view BALL as the most ‘buttoned up’ on cost pass-throughs/hedges, and structural tailwinds for the beverage can continue to support outsized growth vs. packaging peers.”
Stifel initiates Simpson Manufacturing as buy
Stifel said the construction materials company is a share gainer.
“We are initiating coverage of SSD with a Buy rating and $205 target price.”
Rothschild & Co Redburn upgrades Colgate-Palmolive to buy from neutral
The firm said the company has an impressive track record.
“Colgate emerges favourably from such analysis given the resilient growth it offers in key divisions, its strong track record on driving pricing and productivity savings, and an absolute and relative valuation below multi-year average levels.”
HSBC upgrades Intel to buy from hold
HSBC said the market is overlooking a “CPU-led growth opportunity.”
“Though we agree these announcements paint a much more positive picture of Intel’s overall financial position as well as its foundry outlook, we believe the market is still overlooking a key element – the server CPU-led growth opportunity.”
Canaccord initiates AbbVie as buy
Canaccord said the biopharma company is a “core holding.”
“We’re initiating coverage of ABBV with a BUY rating and $262 price target.”
KeyBanc reiterates Nvidia as overweight
Key said the stock remains a top idea at the firm.
“We see NVDA as remaining uniquely positioned to benefit from AI/ML secular data center growth within the industry. With significant barriers to entry created by its CUDA software stack, we see limited competitive risks and expect NVDA to continue to dominate one of the fastest-growing workloads in cloud and enterprise.”
KeyBanc upgrades CrowdStrike to overweight from sector weight
KeyBanc said it sees “platform breadth” to compete against peers.
“While Anthropic and OpenAI’s ambitions in cybersecurity present a credible risk, we believe CrowdStrike will retain a competitive advantage given its narrow focus on cybersecurity, runtime security position, platform breadth, strong GTM [go-to-market] execution and innovative culture.”
Evercore ISI initiates Versigent as outperform
Evercore said the automotive electrical design company is best positioned.
“Versigent (former APTV ‘EDS’ division) was spun/separated from the parent (April 1st) while initial distribution has certainly been harsher than we had previewed… calling on all Value/Spin Investing 101 students for why these ‘forced distribution/selling’ opportunities perpetually reappear.”
Wolfe downgrades Exxon to peer perform from outperform
Wolfe downgraded the stock after five years as a top idea.
“XOM’s share performance may have been fueled by external factors, but it has left the shares fairly valued beyond an oil price call, with one eye on exposure to the MidEast. After 5yrs as our top major idea, we see sector-leading FCF growth discounted. Lower to Peer Perform.”
Truist initiates Duke Energy as buy
Truist sees an “attractive” opportunity for the utility and energy company.
“Blocking and tackling-type opportunity to bolster outlook confidence while advancing to 2028; see as an attractive risk-adjusted growth opportunity.”
Bank of America reiterates Apple as buy
The firm said the CEO transition comes from a “position of strength.”
“The timing of the leadership transition suggests that 1) near-term results are extremely resilient given Apple will likely plan such changes from a position of strong business momentum and 2) a product-oriented leader with years of deep experience in Apple’s hardware design suggests we might be entering a new era of devices.”
DA Davidson initiates Reddit as buy
DA said Reddit is firing on all cylinders.
“We believe that Reddit remains incredibly under-monetized relative to peers and has positioned itself as a human-first social platform that will continue to attract more users and advertisers as it scales.”
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