Here are Thursday’s biggest calls on Wall Street:
Oppenheimer reiterates Apple as outperform
Oppenheimer said its not concerned about competition from Meta’s Orion augmented reality products.
“Orion is a record-breaking product that offers a look into the future capabilities and design of AR glasses. But achieving the same commercial viability that AVP [Apple Vision Pro] has delivered in 2024 is likely years away.”
Deutsche Bank reiterates Tesla as buy
The firm said it’s sticking with its buy rating heading into the company’s delivery report in October.
“We expect Tesla’s 3Q24 deliveries to at least meet Street expectations and estimate
460-465k units for the third quarter (largely unchanged vs. prior forecast).
Susquehanna reiterates Nvidia as positive
Susquehanna said it’s sticking with its positive rating on the stock.
“NVIDIA has become the world’s de facto enabler of AI. While others now offer similar AI accelerators for less, we believe the company’s competitive advantages lie in the vertical integration of three key components: 1) semiconductor design; 2) holistic systems; and 3) software...”
Oppenheimer reiterates Microsoft as outperform
Oppenheimer said investors should stick with the stock for the long term.
“We are slightly below consensus estimates for MSFT on most metrics, a first for us. The stock is trading in line with its average multiples over the last five years, but could fall below in the short term. For long term investors we continue to believe they have the best enterprise AI platform and retain our 18-month $500 price target.”
Bank of America reiterates Meta as buy
Bank of America raised its price target to $630 per share from $563 following Meta’s unveiling of a variety of augmented reality products.
“Mark Zuckerberg’s Meta Connect keynote highlighted Metaverse hardware innovation & expanding AI capabilities across Meta’s apps.”
UBS reiterates Micron as buy
UBS said it’s sticking with the stock following earnings on Wednesday.
“Most importantly, MU continues to establish technology leadership and management is maintaining a very constructive supply/demand outlook through next year.”
Deutsche Bank reiterates Nike as buy
Deutsche raised its price target on the stock to $95 per share from $92 and said it’s sticking with its buy rating heading into earnings next week.
“In the meantime, we think a narrative of gradual improvement will be well received, which should put shares on an upward trajectory as NKE charts a course for renewed growth and market leadership. Buy.”
Bernstein upgrades Starbucks to outperform from market perform
Bernstein said it likes the company’s new CEO but the Starbucks turnaround will take longer than expected.
“The turnaround will take time, but we believe that it will not need to be completed for the stock to start to work.”
Goldman Sachs upgrades Bilibili to buy from neutral
Goldman said it sees margin growth for the China online entertainment platform.
“Bilibili is a highly sticky, under monetized young user based video platform, and is now turning to a more robust and profitable business model driven by higher margin ads/gaming business.
JPMorgan reiterates DraftKings as overweight
The firm raised its price target on the gambling company to $54 per share from $48.
“We are taking the opportunity to reaffirm our positive view on DKNG and up our year-end 2025 price target to $54.”
Truist initiates First Solar as buy
Truist said the solar company has a wide moat.
“First Solar, Inc. (FSLR). American-Made Moat Remains Valuable Differentiator; Initiate Buy & $300 PT.”
