Here are Friday’s biggest calls on Wall Street:
Morgan Stanley reiterates Apple as overweight
Morgan Stanley raised its price target on the stock to $220 per share from $210 and says it’s standing by the stock.
“We are turning more positive on AAPL shares as near-term risks are quelled & attention shifts to what could drive a recovery in fundamentals - Services, GMs and Edge AI.”
Bernstein reiterates Tesla as underperform
Bernstein said in a note on Friday that it was making the “short case for Tesla in 2024.”
“While significant downward EPS revisions had no impact on TSLA’s stock this year, we believe a waning of the growth narrative could weigh on the stock’s multiple.”
Bank of America reiterates Meta as buy
Bank of America said it’s bullish on Meta’s entry into AI.
“We think AI announcements support our thesis that AI driven innovation at Meta will lead to new user experiences and recurring revenues models.”
Bank of America reiterates Broadcom as buy
Bank of America said it’s standing by its buy rating on the stock after its earnings report on Thursday.
“Broadcom reported an inline Q4 with sales up 4% YoY, as AI surge offset cyclical headwinds in enterprise server/storage areas.”
JPMorgan reiterates Exxon as overweight
The firm said Exxon is one of its favorite ideas in 2024.
“On individual ratings, for the US group, we remain Overweight on XOM, with the most attractive valuation among US peers and the most defensive dynamics in a downside case.”
Morgan Stanley upgrades First Solar to overweight from equal weight
Morgan Stanley said investors should buy the dip after the recent selloff.
“Upgrading FSLR to Overweight and increasing our price target to $237/shr, offering 64% upside.”
Deutsche names downgrades KB Home to sell from hold
Deutsche downgraded the stock mainly on valuation.
“We downgrade KBH to Sell (from Hold) primarily on valuation relative to its lower returns.”