Here are Thursday’s biggest calls on Wall Street:
Bernstein reiterates Apple as outperform
Bernstein said it’s sticking with shares of Apple.
“We view Apple’s recent product launches as a deliberate strategy to widen the portfolio’s price bands to opportunistically gain share in the low(er) end, while raising prices at the high end to maintain margins there.”
Baird reiterates Tesla as outperform
Baird said the stock is in a “lull” right now.
“TSLA shares have traded down ~5% over the last month amidst a tumultuous market backdrop and several headlines regarding developments at Musk’s other companies. TSLA is entering a pivotal time over the next 18 months as it scales Robotaxi service with a soon-to-be introduced Cybercab at the same time as ramping mass production of its Optimus humanoid. We want to own the stock over this pivotal timeframe.
Raymond James reiterates Nvidia as strong buy
Raymond James raised its price target on the stock to $323 per share from $291.
“We maintain our Strong Buy rating on NVIDIA, raised estimates, and increase our price target
to $323 to reflect management’s updated outlook for $1 trillion of cumulative GPU sales through 2027 that could prove conservative. The forecast leaves us incrementally encouraged that our thesis around inference as a catalyst is playing out, and may even be slightly ahead of schedule.”
Bank of America reiterates Micron as buy
Bank of America said it sees “stronger pricing for longer” following the company’s earnings report on Wednesday.
“Reiterate Buy and raise PO to $500 (vs. $400) following MU’s view of a durable memory cycle that lasts into CY27E at the earliest.”
Mizuho reiterates Palantir as outperform
Mizuho said Palantir is a category killer.
“We reiterate our view that PLTR is in a category of one, delivering total revenue growth, acceleration, and margin expansion at scale that is unlike anything else in software.”
Morgan Stanley upgrades Carnival to overweight from equal weight
Morgan Stanley said the cruise company is firing on all cylinders.
“We also think both CCL (internal levers, strong FCF) and the industry (lower orderbook) are in better shape than in prior downturns. Upgrade to Overweight on attractive risk-reward balance.”
William Blair upgrades Five Below to outperform from market perform
William Blair upgraded the stock following earnings.
“However, we are increasingly confident that Five Below maintains plenty of levers to comp the comp and is well positioned for a series of beat-and raise prints throughout the year, which we believe should continue to support shares despite elevated expectations, particularly as investors seek out defensive, consistent names in a tricky consumer environment.”
Macquarie initiates Okta as outperform
Macquarie said the ID security company has plenty of upside.
“We initiate coverage of OKTA with an Outperform rating and $100 TP.”
UBS reiterates Nike as neutral
UBS lowered its price target to $58 per share from $62 ahead of earnings later this month.
“Nike sentiment has weakened and now leans bearish, in our view.”
UBS upgrades Nu Holdings to buy from neutral
UBS said the LatAm digital banking platform is too attractive to ignore.
“We upgrade Nu to Buy from Neutral (PT slightly up to US$17.6/share from US$17.2) as we believe the current valuation is attractive given Nu’s earnings growth.”
Morgan Stanley names Intuit a new top pick
Morgan Stanley said Intuit is a “durable compounder at a discount.”
“Making Intuit our Top Pick as valuation screens attractive at 20X GAAP PE, two product cycles support a path to top-line acceleration, while F3Q earnings could unlock better visibility on tax momentum and estimate revisions. Recent web traffic data supportive of improving business momentum. OW.”
