Here are Friday’s biggest calls on Wall Street:
Wells Fargo reiterates Nvidia as overweight
Wells said it’s standing by shares of Nvidia.
“Our Overweight rating is based on our positive stance on Nvidia’s competitive positioning in gaming GPUs and expanding growth opportunities in data center, [high performance computing], and emerging / expanding AI opportunities (autonomous vehicles, healthcare, robotics, etc.).”
Bank of America reiterates Apple as buy
Bank of America said it’s bullish on an iPhone with artificial intelligence features.
“We maintain our Buy rating on Apple for its multi-year upgrade cycle, gross margin upside and secular services growth.”
Jefferies reiterates Tesla as hold
Jefferies said that Tesla’s auto advantage is shrinking for now.
“A stagnant Tesla is a lesser threat to other OEMs until EV demand accelerates again.”
Wells Fargo reiterates Tesla as underweight
Wells said the automaker has “weak” fundamentals.
“Despite the headline spin, TSLA’s fundamentals look weak with volumes slowing & the 0.99% U.S. Model Y financing offer likely implying a large price cut.”
Morgan Stanley reiterates Nio as overweight
Morgan Stanley said it’s standing by its overweight rating on shares of Nio.
“Our recent checks also suggest order momentum stayed solid lately with weekly order run-rate of around 6k.”
Bank of America reiterates Dell as buy
Bank of America said it’s sticking with its buy rating on the stock following earnings.
“We reiterate Buy given that we are still in the early stages of AI adoption with continued strong pipeline and momentum around AI servers, where we think DELL will be able to capture higher AI margins over time.”
Bank of America reiterates Qualcomm as buy
Bank of America raised its price target on the stock to $245 per share from $180.
“Qualcomm is well-positioned in large computing market.”
New Street initiates PayPal at buy
New Street said it’s bullish on shares of PayPal.
“Almost nine months in, new CEO Alex Chriss is looking to pivot PayPal to value (from price) and better leverage its unique two-sided (consumer/merchant) advantages it has over competitors, Adyen, Stripe & even Apple Pay.”
Morgan Stanley reiterates Rivian as overweight
Morgan Stanley said the electric vehicle company is well-positioned.
“We see Rivian as uniquely positioned within autos (other than Tesla) on scaling a fully integrated software stack critical to unlocking the AI opportunity… at a market value 1/60th that of Tesla.”
Morgan Stanley reiterates Costco as overweight
Morgan Stanley raised its price target on the stock to $855 per share from $780 following earnings.
“We view COST as among the best compounding growth stories in Retail.”
UBS upgrades Bilibili to buy from neutral
UBS said the China internet company’s earnings showed a “solid ad performance.”
“Despite the challenging macro landscape, Bilibili’s Q1 advertising revenue jumped 31% YoY, faster than any of its online media peers.”
Seaport upgrades Wynn to buy from hold
Seaport said investors should buy the dip in shares of the casino company.
“While Wynn has fared somewhat better than some of its peers (i.e., LVS and MGM), the decline is unwarranted, in our view, with Wynn having delivered strong Q1 results in Macau and showed continued resilience in Las Vegas.”