Here are the biggest calls on Wall Street on Tuesday:
Truist reiterates Nvidia as buy
Truist raised its price target on the stock to $145 per share from $140 ahead of earnings later this week.
“Ahead of NVDA’s CQ2 (July), our regular dialog with component buyers & sellers reflected NVDA business trends continuing to improve.”
Morgan Stanley reiterates Apple as overweight
Morgan Stanley said it’s cautiously optimistic about the company’s CFO change.
“After the close [Monday], Apple announced that current CFO Luca Maestri will be stepping down from his role on January 1st, 2025, to be succeeded by Kevan Parekh, Apple’s current VP of Financial Planning and Analysis, who will also join Apple’s executive team.”
Evercore ISI reiterates Netflix as outperform
Evercore said its channel checks look positive for the streaming giant.
“We [reiterate] our Outperform, raising our PT from $710 to $750 in the wake of our detailed U.S. & Mexico survey work, very recent channel checks, as well as our proprietary analysis of further potential Netflix price increases.”
Morgan Stanley names Coca-Cola a top pick
Morgan Stanley says it likes the company’s fundamentals compared to peers.
“We are raising Coca-Cola to our Top Pick in beverages (and raising our PT to $78 from $70), replacing Pepsi.”
Barclays reiterates Salesforce as overweight
Barclays says it sees a muted response to Salesforce earnings on Wednesday but that it’s sticking with the stock.
“We see a muted share response for Salesforce’s Q2 print, given a lack of a meaningful positive catalysts”
Oppenheimer reiterates Costco as buy
Oppenheimer investors should buy the dip in Costco shares.
“Consistent with our playbook lately, for longer-term players, we would continue to take advantage of any dips. Catalysts from here include a potential stock split, in our view.”
Baird initiates GitLab as outperform
Baird said in its initiation of GitLab that the software company is well positioned.
“We initiate with an Outperform rating and a $59 price target, reflecting favorable risk/reward.”
Morgan Stanley reiterates Ferrari as outperform
Morgan Stanley raised its price target on Ferrari to a Street high of $520 from $400.
“Investors have re-rated Ferrari’s PE multiple to 50x FY25 on earnings visibility (high), volatility (low) and China risk (outlier low in luxury).”
Barclays initiates Blackrock as overweight
Barclays said Blackrock is best positioned.
“Clear industry leader, in an already fragmented industry, with one of the best organic growth profiles vs peers.”