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Top Calls on Wall Street: Tesla, Nvidia, Netflix, Dell, Palo Alto Networks, FedEx and More

Tiger Newspress05-16

Here are Thursday’s biggest calls on Wall Street:

Wells Fargo reiterates Tesla as underweight

Wells said Tesla is not a threat to the auto industry anymore and that the China “dragon has awakened.”

“TSLA is likely no longer the biggest disruptive threat to autos.”

Piper Sandler reiterates Nvidia as overweight

Piper said it’s sticking with its overweight rating heading into earnings on May 22.

“Overall, NVDA remains our top large-cap pick and we remain bullish that the Blackwell series will provide meaningful acceleration to revenues longer-term.”

JPMorgan reiterates Netflix as overweight

JPMorgan said it’s sticking with its overweight rating following Netflix’s upfront advertising presentation.

“We remain positive on NFLX following the formal announcement for rights to Xmas Day NFL games and the 2024 Upfront presentation announcements, & we expect to learn more after spending time with the company [today].”

Evercore ISI reiterates Dell as outperform

Evercore raised its price target on the stock to $165 per share from $140 and said it thinks Dell has won some business for Tesla’s AI server build.

“Our understanding is that DELL has won a large portion of business for Tesla’s AI server buildout which would be INCREMENTAL to their current ~$2.9B AI backlog (shipped ~$800M in AI server revenues LQ) but was likely embedded in their pipeline commentary.”

JPMorgan reiterates Palo Alto Networks as overweight

JPMorgan raised its price target to $340 per share from $330 ahead of earnings on May 20.

“We remain Overweight rated as we continue to view PANW well positioned within our coverage to consolidate share within several of the largest and highest priority enterprise security markets. Our price target moves to $340, reflecting channel commentary and recent multiple appreciation.”

Goldman Sachs reiterates FedEx as buy

Goldman said it’s standing by the stock heading into earnings in late June.

“We remain Buy rated on FDX, and we keep FY 4Q/FY24 EPS estimates unchanged at $5.25/$17.65 with minor adjustments.”

Wells Fargo initiates Texas Instruments as overweight

Wells said in its initiation of the stock that “shares seem to price in chip cycle recovery.”

“We are initiating coverage of TXN with an Underweight (UW) rating and $150 price tgt.”

UBS upgrades Coupang to buy from neutral

UBS said the market is underestimating the Asian e-commerce company.

“With Coupang’s recent share price strength, investors are questioning its potential for future growth, particularly amidst its dominance in a saturated market and increasing competition from Chinese cross-border platforms.”

Argus upgrades Wayfair to buy from hold

Argus said the company is well positioned to “benefit from growth in online purchases of home furnishings.”

“We are upgrading Wayfair Inc. to BUY from HOLD, with a price target of $83.”

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  • Dr Rck
    ·05-17
    Frenzy buying is still happening despite being reminded by the Fed will keep the rate longer. Even if it going to be in Sep, realistically poor performance on some stocks will persist like Deere, Home Depot, etc. Their shares begin to go lower, but not higher, like TSLA. Against the fundamentals will not help the stock to innovate and improve like making innovations only known to just one person alone, hence the firing and layoffs are not at will of this one person, but a collective effort of its staffers! It would take a longer time for the company to turnaround fast and lower dividends to realise its full potential!
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  • Dr Rck
    ·05-17
    Oh again Wells Fargo gives underweight rating to TSLA as like any other auto companies!
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