Here are Thursday’s biggest calls on Wall Street:
Morgan Stanley reiterates Tesla as overweight
The firm says it’s sticking with top pick Tesla following earnings on Wednesday.
“One of the strongest Tesla prints in a while could mark a ‘bottom’ in auto earnings expectations (and sentiment?).”
Rosenblatt reiterates Apple as buy
The firm urged investors to remain calm following wireless companies’ earnings reports that suggested Apple is not yet in an iPhone upgrade super cycle.
“The obvious read is that there is not a super cycle yet. But that’s OK, since we aren’t modeling one in the Sept. quarter. Instead, we assume muted 3% iPhone revenue growth in the Sept. quarter, 4% in 3 of the four quarters of F2025.”
TD Cowen reiterates Microsoft as buy
The firm recommended Microsoft heading into earnings next week.
“Overall, we expect modest 1Q upside & in-line 2Q outlook. Maintain Buy & $495 PT.”
Bank of America reiterates Amazon as buy
Bank of America touted Amazon ahead of earnings next week.
“Biggest, and well known, risk on call is that 4Q Street estimates are too high relative to 4Q guidance history.”
Bernstein reiterates Meta as outperform
Bernstein raised its price target on the Facebook and Instagram parent to $675 per share from $600.
“Meta has replaced Google as the set-it-and-forget-it blue chip holding offering investors (1) a growing, healthy core business, (2) an AI winner story with lower terminal risk...”
Susquehanna reiterates Advanced Micro Devices as positive
The investment firm says sentiment is positive ahead of earnings next week.
“AMD has made incredible advances under the leadership of CEO Lisa Su...”
Bank of America reiterates IBM as buy
Bank of America says it’s sticking with its buy rating following IBM earnings on Wednesday.
“Software growth a bright spot amid uncertain macro.”
KeyBanc downgrades Verizon to sector weight from overweight
KeyBanc downgraded the telecom provider following earnings.
“We are downgrading VZ to SW and lowering our estimates. VZ’s results were below our expectations, and while we acknowledge much of our prior view is intact, the change in our rating is due to: limited room for EBITDA acceleration in 2025 and likely declining FCF growth...”
Bank of America reiterates ServiceNow as a top pick
The bank says the company is a top pick following earnings on Wednesday.
“Solid execution and end customer demand across the broad ServiceNow application suite drove another solid beat and raise quarter.”
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