Here are the biggest calls on Wall Street on Tuesday:
UBS reiterates Nvidia as buy
UBS raised its price target on Nvidia to $540 per share from $475 and says it’s bullish heading into earnings next week.
“Investor expectations for F2025 (C2024) EPS have risen substantially, but we recommend investors stay the course here and remain bullish amid the recent pullback in the stock over the past month.”
Daiwa reiterates Disney as buy
Daiwa is standing by its buy rating on Disney after the company’s earnings report last week.
“The beauty of a diversified media company continues to be on full display with DIS earnings.”
Barclays reiterates Walmart as overweight
Barclays is bullish heading into earnings later this week.
“Walmart’s retail story this quarter should continue to center on stronger share gains and signs of stabilization in general merchandise to support the path to at least +LSD [low single digits] comps in H2, in an increasingly difficult backdrop for staples retail.
Morgan Stanley reiterates Ford as overweight
Morgan Stanley stood by its overweight rating on shares of Ford.
“Our [overweight] thesis is contingent on a material change in EV strategy, including greater collaboration with competitors.”
KBW reiterates Berkshire Hathaway as market perform
KBW stood by its market perform rating after a review of the company’s 13-F.
“We estimate that the value of BRK’s equity portfolio declined by about $10.1 billion pretax quarter-to-date, implying a $5.5 billion (1.1%) after-tax QTD decrease from its 2Q23 book value per share.”
Wells Fargo reiterates JPMorgan, Citigroup and Bank of America as overweight
Wells is standing by its overweight ratings on banks like JPMorgan, Citigroup and Bank of America, adding that “peak rates” are good for the stocks.
“Peak rates could be good for bank stocks.”
Deutsche Bank reiterates Palo Alto Networks as buy
Deutsche is bullish heading into earnings later this week.
“As the industry exits a pandemic-fueled product super cycle of the past couple years, we look to Palo’s leadership in defining what comes next.”
Evercore ISI reiterates ServiceNow as outperform
Evercore ISI raised its price target on the stock to $650 per share from $600, saying it’s bullish on the company’s generative AI opportunities.
“ServiceNow is set to unveil its Vancouver release in late September that will include many of its first Gen AI services.”