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2023-11-01

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Top Calls on Wall Street: Tesla, SoFi, Pinterest, Roku, Boeing, Apple, Shopify, Chewy and More

Here are Tuesday’s biggest calls on Wall Street:Wells Fargo initiates Shopify as buyWells Fargo said in its initiation of the stock that it sees an “attractive buying opportunity.”“$SHOP(SHOP)$’s angl

Top Calls on Wall Street: Tesla, SoFi, Pinterest, Roku, Boeing, Apple, Shopify, Chewy and More

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Investors remain skeptical of margin potential, presenting an attractive buying opportunity.”</p><h2 id=\"id_2560623954\" style=\"text-align: start;\">Bernstein initiates Clean Riot as outperform</h2><p>Bernstein said the bitcoin miner is a “high-beta way to gain exposure.”</p><p>“We are initiating coverage on US Bitcoin miners with an Outperform rating on Riot (RIOT, PT $15.6, 64% upside), Outperform on CleanSpark (CLSK, PT $5.3, 28% upside) and a Market-Perform rating on Marathon (MARA, PT $8.3, 6% downside).”</p><h2 id=\"id_120195666\" style=\"text-align: start;\">Goldman Sachs reiterates Apple as buy</h2><p>Goldman Sachs said it’s bullish on <a href=\"https://laohu8.com/S/AAPL\">Apple</a>’s Monday announcement of refreshed Macs.</p><p>“The refreshed 14″ and 16″ MacBook Pro’s with M3 effectively replace the recently launched 14″ and 16″ MacBook Pro’s with M2 launched in January 2023 — at more attractive price points relative to the launch prices for those respective products.”</p><h2 id=\"id_348457750\" style=\"text-align: start;\">Baird downgrades ON Semiconductor to neutral from outperform</h2><p>Baird said it sees “pricing pressures” for the semiconductor maker.</p><p>“Downgrading <a href=\"https://laohu8.com/S/ON\">ON Semi</a>, STMicro, and Diodes to Neutral on supply/demand normalization. In addition to a resumption of under-utilization charges across analog companies, lead times are rapidly normalizing, which should bring pricing pressures, in our view.”</p><h2 id=\"id_2762935149\" style=\"text-align: start;\">Citi upgrades T. Rowe Price to neutral from sell</h2><p>Citi said it sees a more balanced risk/reward for the asset manager.</p><p>“We are upgrading <a href=\"https://laohu8.com/S/TROW\">TROW</a> to Neutral from Sell. The stock has been under consistent pressure in recent months as outflows have weighed.”</p><h2 id=\"id_2991761411\" style=\"text-align: start;\">Deutsche Bank reiterates Tesla as buy</h2><p>Deutsche Bank said it’s standing by its buy rating on the automaker.</p><p>“We view <a href=\"https://laohu8.com/S/TSLA\">Tesla</a> as better positioned in the long term from its cost advantage, but continue to warn about large additional downside risk to consensus 2024 expectations amid softer EV demand, aging models and price risk.”</p><h2 id=\"id_1082589356\" style=\"text-align: start;\">Piper Sandler upgrades Check Point Software to neutral from underweight</h2><p>Piper Sandler said it sees a more balanced risk/reward for Check Point.</p><p>“We are upgrading shares to Neutral from Underweight and raising our PT to $125, eyeing a balanced risk / reward at these levels considering the modest ~11x CY′24E EV / FCF multiple.”</p><h2 id=\"id_580459936\" style=\"text-align: start;\">Wells Fargo upgrades Globe Life to overweight from equal weight</h2><p>Wells Fargo said it sees upside for the life insurance company.</p><p>“We are upgrading <a href=\"https://laohu8.com/S/GL\">GL</a> to Overweight, and our $137 price target offers 20%+ upside from current levels.”</p><h2 id=\"id_3038816685\" style=\"text-align: start;\">Bank of America upgrades Pinterest to buy from neutral</h2><p>Bank of America upgraded the social media company after its earnings report Monday.</p><p>“We upgrade <a href=\"https://laohu8.com/S/PINS\">Pinterest</a> to Buy from Neutral as: 1) Position vs peers much improved as q/q underperformance shifts to outperformance, expected in 4Q′23, 2) Much closer to start of Amazon deal ramp, expect more acceleration in 1H′24,”</p><h2 id=\"id_4079328456\" style=\"text-align: start;\">Morgan Stanley upgrades Arista Networks to overweight from equal weight</h2><p>Morgan Stanley said <a href=\"https://laohu8.com/S/ANET\">Arista Networks</a> is a top artificial intelligence play.</p><p>“Valuation sensitivity has kept us on the sidelines, but we view ANET as the best way to play AI networking’s eventual move to Ethernet.”</p><h2 id=\"id_3472921873\" style=\"text-align: start;\">Morgan Stanley upgrades Chewy to overweight from equal weight</h2><p>Morgan Stanley said in its upgrade of the stock that share sell-off is overdone.</p><p>“<a href=\"https://laohu8.com/S/CHWY\">CHWY</a> has recently declined &gt;50% on TAM saturation concerns. We believe the move is overdone as discrete macro headwinds have played an underappreciated role.”</p><h2 id=\"id_3783859130\" style=\"text-align: start;\">Seaport upgrades Lincoln Electric to buy from hold</h2><p>Seaport said the electric welding manufacturer is well-positioned.</p><p>“We believe the <a href=\"https://laohu8.com/S/LECO\">LECO</a> team has done an excellent job with M&amp;A, new product development and operational excellence to position the company for future profitable growth.”</p><h2 id=\"id_1164099799\" style=\"text-align: start;\">Guggenheim initiates Tourmaline Bio as buy</h2><p>Guggenheim initiated the biotech company with a buy and says it’s well-positioned.</p><p>“<a href=\"https://laohu8.com/S/TRML\">TRML</a> is a clinical-stage biotech company focused on targeting severe autoimmune and inflammatory diseases with a novel, best-in-class monoclonal antibody against proinflammatory cytokine IL-6.</p><h2 id=\"id_2387199572\" style=\"text-align: start;\">Baird upgrades L3Harris Technologies to outperform from neutral</h2><p>Baird said in its upgrade of the tech and defense contractor that investors should buy the dip.</p><p>“We are upgrading <a href=\"https://laohu8.com/S/LHX\">LHX</a> stock to Outperform from Neutral reflecting the significant underperformance of the LHX stock ytd (down 17%) underperforming the S&amp;P 500 by 26% (S&amp;P 500 up 9%), plus two major M&amp;A deals have closed in 2023 and defense funding is on path increase globally that sets up improving fundamentals for LHX in 2024.”</p><h2 id=\"id_2376171660\" style=\"text-align: start;\">Morgan Stanley upgrades SoFi to equal weight from underweight</h2><p>Morgan Stanley said the risks to <a href=\"https://laohu8.com/S/SOFI\">SoFi</a> are more than priced in.</p><p>“More balanced risk-reward moves us to Equal-weight from Underweight.”</p><h2 id=\"id_496670780\" style=\"text-align: start;\">JPMorgan upgrades AutoNation to neutral from underweight</h2><p>JPMorgan said AutoNation sees a more balanced risk/reward.</p><p>“Shares have de-rated recently, underperforming the peer and group as well as the broader auto retail ecosystem since our update note on 2/21/2023, and we view the current valuation (~10% discount on P/E and 5% discount on EV/EBITDA) as appropriately reflecting balanced risks relative to peers.”</p><h2 id=\"id_1687590376\" style=\"text-align: start;\">Jefferies upgrades XPO to buy from hold</h2><p>Jefferies said it sees margin expansion for the logistics company.</p><p>“Upgrading to Buy/$95 PT; Increased Confidence in Long-Term Margin Opportunity.”</p><h2 id=\"id_3933448998\" style=\"text-align: start;\">Susquehanna upgrades Saia to positive from neutral</h2><p>Susquehanna said it sees an attractive entry point for the logistics company.</p><p>“Against that backdrop, October’s weakness presents the long-term <a href=\"https://laohu8.com/S/SAIA\">SAIA</a> entry point we’ve been looking for since shares took off post-YELL, and we upgrade to Positive with a $420 target price (18% upside).”</p><h2 id=\"id_2564207147\" style=\"text-align: start;\">Jefferies upgrades Williams-Sonoma to hold from underperform</h2><p>Jefferies said in its upgrade of the stock that downside catalysts are getting harder to find.</p><p>“A full ’24 guide won’t come until Mar., but if <a href=\"https://laohu8.com/S/WSM\">WSM</a> isn’t running at the bottom of its implied 2H guide, commentary signaling at least flat EBIT% in ’24 could support the stock.”</p><h2 id=\"id_1259632755\" style=\"text-align: start;\">MoffettNathanson downgrades Lyft to sell from neutral</h2><p>MoffettNathanson said in its downgrade of <a href=\"https://laohu8.com/S/LYFT\">Lyft</a> that it sees unsustainable revenue.</p><p>“With 4Q23 results, management is expected to provide both long-term guidance and perhaps improved disclosures on bookings and volumes.”</p><h2 id=\"id_3286225951\" style=\"text-align: start;\">MoffettNathanson upgrades Roku to neutral from sell</h2><p>MoffettNathanson said the worst may be behind the streaming company.</p><p>“Despite our concerns about rising competition in <a href=\"https://laohu8.com/S/ROKU\">Roku</a>’s two key revenue segments — devices and advertising — we believe that the intensifying focus on achieving real profitability and free cash flow (not just adjusted EBITDA) reduces the risk of the shares from de-rating further.”</p><h2 id=\"id_3261791380\" style=\"text-align: start;\">D.A. Davidson adds Ulta to the top picks list</h2><p>D.A. Davidson added the stock to its best-of-breed bison list and says it’s “uniquely positioned.”</p><p>“We are including Ulta Beauty as our next ‘Best-of-Breed Bison’ company within the framework developed by D.A. Davidson’s research team to find long term best in class companies with sustainable moats and favorable risk / reward dynamics.”</p><h2 id=\"id_2252964623\" style=\"text-align: start;\">Evercore ISI reiterates Disney as outperform</h2><p>Evercore ISI lowered its price target on <a href=\"https://laohu8.com/S/DIS\">Disney</a> to $100 per share from $110 but says it’s standing by the stock.</p><p>“We trim our target from $110 to $100 (~20x our FY24 adj. EPS forecast of $4.95).”</p><h2 id=\"id_279787689\" style=\"text-align: start;\">Morgan Stanley initiates Celsius Holdings as equal weight</h2><p>Morgan Stanley said in its initiation of the stock that it sees a balanced risk/reward.</p><p>“Initiating at EW with the stock pricing in <a href=\"https://laohu8.com/S/CELH\">CELH</a> reaching midteens share of US energy category over the next few years and robust international growth, which looks achievable but leaves less room for upside, and increasingly difficult comps ahead.”</p><h2 id=\"id_1265839546\" style=\"text-align: start;\">Northcoast upgrades Boeing to buy from neutral</h2><p>Northcoast said in its upgrade of Boeing that it sees a “more promising long term earnings horizon.”</p><p>“We are raising our investment rating on The <a href=\"https://laohu8.com/S/BA\">Boeing Company </a> to BUY and shifting our focus away from short-term risks and toward a more promising long term earnings horizon.”</p><h2 id=\"id_1038982860\" style=\"text-align: start;\">JPMorgan upgrades Asbury Automotive to overweight from neutral</h2><p>JPMorgan said investors should buy the dip in shares of the auto company.</p><p>“Shares have pulled back and <a href=\"https://laohu8.com/S/ABG\">ABG</a> has been one of the worst performers YTD.”</p><h2 id=\"id_3407121786\" style=\"text-align: start;\">Wolfe upgrades Phillips 66 to outperform from peer perform</h2><p>Wolfe said in its upgrade of the stock that it sees further shareholder returns.</p><p>“Within a very complex macro, <a href=\"https://laohu8.com/S/PSX\">PSX</a> put forth a relatively simple plan where shareholder returns will accelerate in coming quarters.”</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Top Calls on Wall Street: Tesla, SoFi, Pinterest, Roku, Boeing, Apple, Shopify, Chewy and More</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTop Calls on Wall Street: Tesla, SoFi, Pinterest, Roku, Boeing, Apple, Shopify, Chewy and More\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-10-31 22:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Here are Tuesday’s biggest calls on Wall Street:</p><h2 id=\"id_3064241360\" style=\"text-align: start;\">Wells Fargo initiates Shopify as buy</h2><p>Wells Fargo said in its initiation of the stock that it sees an “attractive buying opportunity.”</p><p>“<a href=\"https://laohu8.com/S/SHOP\">SHOP</a>’s angle of attack has shifted and found an ideal balance of operational ambition and financial discipline. Investors remain skeptical of margin potential, presenting an attractive buying opportunity.”</p><h2 id=\"id_2560623954\" style=\"text-align: start;\">Bernstein initiates Clean Riot as outperform</h2><p>Bernstein said the bitcoin miner is a “high-beta way to gain exposure.”</p><p>“We are initiating coverage on US Bitcoin miners with an Outperform rating on Riot (RIOT, PT $15.6, 64% upside), Outperform on CleanSpark (CLSK, PT $5.3, 28% upside) and a Market-Perform rating on Marathon (MARA, PT $8.3, 6% downside).”</p><h2 id=\"id_120195666\" style=\"text-align: start;\">Goldman Sachs reiterates Apple as buy</h2><p>Goldman Sachs said it’s bullish on <a href=\"https://laohu8.com/S/AAPL\">Apple</a>’s Monday announcement of refreshed Macs.</p><p>“The refreshed 14″ and 16″ MacBook Pro’s with M3 effectively replace the recently launched 14″ and 16″ MacBook Pro’s with M2 launched in January 2023 — at more attractive price points relative to the launch prices for those respective products.”</p><h2 id=\"id_348457750\" style=\"text-align: start;\">Baird downgrades ON Semiconductor to neutral from outperform</h2><p>Baird said it sees “pricing pressures” for the semiconductor maker.</p><p>“Downgrading <a href=\"https://laohu8.com/S/ON\">ON Semi</a>, STMicro, and Diodes to Neutral on supply/demand normalization. In addition to a resumption of under-utilization charges across analog companies, lead times are rapidly normalizing, which should bring pricing pressures, in our view.”</p><h2 id=\"id_2762935149\" style=\"text-align: start;\">Citi upgrades T. Rowe Price to neutral from sell</h2><p>Citi said it sees a more balanced risk/reward for the asset manager.</p><p>“We are upgrading <a href=\"https://laohu8.com/S/TROW\">TROW</a> to Neutral from Sell. The stock has been under consistent pressure in recent months as outflows have weighed.”</p><h2 id=\"id_2991761411\" style=\"text-align: start;\">Deutsche Bank reiterates Tesla as buy</h2><p>Deutsche Bank said it’s standing by its buy rating on the automaker.</p><p>“We view <a href=\"https://laohu8.com/S/TSLA\">Tesla</a> as better positioned in the long term from its cost advantage, but continue to warn about large additional downside risk to consensus 2024 expectations amid softer EV demand, aging models and price risk.”</p><h2 id=\"id_1082589356\" style=\"text-align: start;\">Piper Sandler upgrades Check Point Software to neutral from underweight</h2><p>Piper Sandler said it sees a more balanced risk/reward for Check Point.</p><p>“We are upgrading shares to Neutral from Underweight and raising our PT to $125, eyeing a balanced risk / reward at these levels considering the modest ~11x CY′24E EV / FCF multiple.”</p><h2 id=\"id_580459936\" style=\"text-align: start;\">Wells Fargo upgrades Globe Life to overweight from equal weight</h2><p>Wells Fargo said it sees upside for the life insurance company.</p><p>“We are upgrading <a href=\"https://laohu8.com/S/GL\">GL</a> to Overweight, and our $137 price target offers 20%+ upside from current levels.”</p><h2 id=\"id_3038816685\" style=\"text-align: start;\">Bank of America upgrades Pinterest to buy from neutral</h2><p>Bank of America upgraded the social media company after its earnings report Monday.</p><p>“We upgrade <a href=\"https://laohu8.com/S/PINS\">Pinterest</a> to Buy from Neutral as: 1) Position vs peers much improved as q/q underperformance shifts to outperformance, expected in 4Q′23, 2) Much closer to start of Amazon deal ramp, expect more acceleration in 1H′24,”</p><h2 id=\"id_4079328456\" style=\"text-align: start;\">Morgan Stanley upgrades Arista Networks to overweight from equal weight</h2><p>Morgan Stanley said <a href=\"https://laohu8.com/S/ANET\">Arista Networks</a> is a top artificial intelligence play.</p><p>“Valuation sensitivity has kept us on the sidelines, but we view ANET as the best way to play AI networking’s eventual move to Ethernet.”</p><h2 id=\"id_3472921873\" style=\"text-align: start;\">Morgan Stanley upgrades Chewy to overweight from equal weight</h2><p>Morgan Stanley said in its upgrade of the stock that share sell-off is overdone.</p><p>“<a href=\"https://laohu8.com/S/CHWY\">CHWY</a> has recently declined &gt;50% on TAM saturation concerns. We believe the move is overdone as discrete macro headwinds have played an underappreciated role.”</p><h2 id=\"id_3783859130\" style=\"text-align: start;\">Seaport upgrades Lincoln Electric to buy from hold</h2><p>Seaport said the electric welding manufacturer is well-positioned.</p><p>“We believe the <a href=\"https://laohu8.com/S/LECO\">LECO</a> team has done an excellent job with M&amp;A, new product development and operational excellence to position the company for future profitable growth.”</p><h2 id=\"id_1164099799\" style=\"text-align: start;\">Guggenheim initiates Tourmaline Bio as buy</h2><p>Guggenheim initiated the biotech company with a buy and says it’s well-positioned.</p><p>“<a href=\"https://laohu8.com/S/TRML\">TRML</a> is a clinical-stage biotech company focused on targeting severe autoimmune and inflammatory diseases with a novel, best-in-class monoclonal antibody against proinflammatory cytokine IL-6.</p><h2 id=\"id_2387199572\" style=\"text-align: start;\">Baird upgrades L3Harris Technologies to outperform from neutral</h2><p>Baird said in its upgrade of the tech and defense contractor that investors should buy the dip.</p><p>“We are upgrading <a href=\"https://laohu8.com/S/LHX\">LHX</a> stock to Outperform from Neutral reflecting the significant underperformance of the LHX stock ytd (down 17%) underperforming the S&amp;P 500 by 26% (S&amp;P 500 up 9%), plus two major M&amp;A deals have closed in 2023 and defense funding is on path increase globally that sets up improving fundamentals for LHX in 2024.”</p><h2 id=\"id_2376171660\" style=\"text-align: start;\">Morgan Stanley upgrades SoFi to equal weight from underweight</h2><p>Morgan Stanley said the risks to <a href=\"https://laohu8.com/S/SOFI\">SoFi</a> are more than priced in.</p><p>“More balanced risk-reward moves us to Equal-weight from Underweight.”</p><h2 id=\"id_496670780\" style=\"text-align: start;\">JPMorgan upgrades AutoNation to neutral from underweight</h2><p>JPMorgan said AutoNation sees a more balanced risk/reward.</p><p>“Shares have de-rated recently, underperforming the peer and group as well as the broader auto retail ecosystem since our update note on 2/21/2023, and we view the current valuation (~10% discount on P/E and 5% discount on EV/EBITDA) as appropriately reflecting balanced risks relative to peers.”</p><h2 id=\"id_1687590376\" style=\"text-align: start;\">Jefferies upgrades XPO to buy from hold</h2><p>Jefferies said it sees margin expansion for the logistics company.</p><p>“Upgrading to Buy/$95 PT; Increased Confidence in Long-Term Margin Opportunity.”</p><h2 id=\"id_3933448998\" style=\"text-align: start;\">Susquehanna upgrades Saia to positive from neutral</h2><p>Susquehanna said it sees an attractive entry point for the logistics company.</p><p>“Against that backdrop, October’s weakness presents the long-term <a href=\"https://laohu8.com/S/SAIA\">SAIA</a> entry point we’ve been looking for since shares took off post-YELL, and we upgrade to Positive with a $420 target price (18% upside).”</p><h2 id=\"id_2564207147\" style=\"text-align: start;\">Jefferies upgrades Williams-Sonoma to hold from underperform</h2><p>Jefferies said in its upgrade of the stock that downside catalysts are getting harder to find.</p><p>“A full ’24 guide won’t come until Mar., but if <a href=\"https://laohu8.com/S/WSM\">WSM</a> isn’t running at the bottom of its implied 2H guide, commentary signaling at least flat EBIT% in ’24 could support the stock.”</p><h2 id=\"id_1259632755\" style=\"text-align: start;\">MoffettNathanson downgrades Lyft to sell from neutral</h2><p>MoffettNathanson said in its downgrade of <a href=\"https://laohu8.com/S/LYFT\">Lyft</a> that it sees unsustainable revenue.</p><p>“With 4Q23 results, management is expected to provide both long-term guidance and perhaps improved disclosures on bookings and volumes.”</p><h2 id=\"id_3286225951\" style=\"text-align: start;\">MoffettNathanson upgrades Roku to neutral from sell</h2><p>MoffettNathanson said the worst may be behind the streaming company.</p><p>“Despite our concerns about rising competition in <a href=\"https://laohu8.com/S/ROKU\">Roku</a>’s two key revenue segments — devices and advertising — we believe that the intensifying focus on achieving real profitability and free cash flow (not just adjusted EBITDA) reduces the risk of the shares from de-rating further.”</p><h2 id=\"id_3261791380\" style=\"text-align: start;\">D.A. Davidson adds Ulta to the top picks list</h2><p>D.A. Davidson added the stock to its best-of-breed bison list and says it’s “uniquely positioned.”</p><p>“We are including Ulta Beauty as our next ‘Best-of-Breed Bison’ company within the framework developed by D.A. Davidson’s research team to find long term best in class companies with sustainable moats and favorable risk / reward dynamics.”</p><h2 id=\"id_2252964623\" style=\"text-align: start;\">Evercore ISI reiterates Disney as outperform</h2><p>Evercore ISI lowered its price target on <a href=\"https://laohu8.com/S/DIS\">Disney</a> to $100 per share from $110 but says it’s standing by the stock.</p><p>“We trim our target from $110 to $100 (~20x our FY24 adj. EPS forecast of $4.95).”</p><h2 id=\"id_279787689\" style=\"text-align: start;\">Morgan Stanley initiates Celsius Holdings as equal weight</h2><p>Morgan Stanley said in its initiation of the stock that it sees a balanced risk/reward.</p><p>“Initiating at EW with the stock pricing in <a href=\"https://laohu8.com/S/CELH\">CELH</a> reaching midteens share of US energy category over the next few years and robust international growth, which looks achievable but leaves less room for upside, and increasingly difficult comps ahead.”</p><h2 id=\"id_1265839546\" style=\"text-align: start;\">Northcoast upgrades Boeing to buy from neutral</h2><p>Northcoast said in its upgrade of Boeing that it sees a “more promising long term earnings horizon.”</p><p>“We are raising our investment rating on The <a href=\"https://laohu8.com/S/BA\">Boeing Company </a> to BUY and shifting our focus away from short-term risks and toward a more promising long term earnings horizon.”</p><h2 id=\"id_1038982860\" style=\"text-align: start;\">JPMorgan upgrades Asbury Automotive to overweight from neutral</h2><p>JPMorgan said investors should buy the dip in shares of the auto company.</p><p>“Shares have pulled back and <a href=\"https://laohu8.com/S/ABG\">ABG</a> has been one of the worst performers YTD.”</p><h2 id=\"id_3407121786\" style=\"text-align: start;\">Wolfe upgrades Phillips 66 to outperform from peer perform</h2><p>Wolfe said in its upgrade of the stock that it sees further shareholder returns.</p><p>“Within a very complex macro, <a href=\"https://laohu8.com/S/PSX\">PSX</a> put forth a relatively simple plan where shareholder returns will accelerate in coming quarters.”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PINS":"Pinterest, Inc.","TSLA":"特斯拉","SHOP":"Shopify Inc","BA":"波音","SOFI":"SoFi Technologies Inc.","ROKU":"Roku Inc","AAPL":"苹果"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1178613070","content_text":"Here are Tuesday’s biggest calls on Wall Street:Wells Fargo initiates Shopify as buyWells Fargo said in its initiation of the stock that it sees an “attractive buying opportunity.”“SHOP’s angle of attack has shifted and found an ideal balance of operational ambition and financial discipline. Investors remain skeptical of margin potential, presenting an attractive buying opportunity.”Bernstein initiates Clean Riot as outperformBernstein said the bitcoin miner is a “high-beta way to gain exposure.”“We are initiating coverage on US Bitcoin miners with an Outperform rating on Riot (RIOT, PT $15.6, 64% upside), Outperform on CleanSpark (CLSK, PT $5.3, 28% upside) and a Market-Perform rating on Marathon (MARA, PT $8.3, 6% downside).”Goldman Sachs reiterates Apple as buyGoldman Sachs said it’s bullish on Apple’s Monday announcement of refreshed Macs.“The refreshed 14″ and 16″ MacBook Pro’s with M3 effectively replace the recently launched 14″ and 16″ MacBook Pro’s with M2 launched in January 2023 — at more attractive price points relative to the launch prices for those respective products.”Baird downgrades ON Semiconductor to neutral from outperformBaird said it sees “pricing pressures” for the semiconductor maker.“Downgrading ON Semi, STMicro, and Diodes to Neutral on supply/demand normalization. In addition to a resumption of under-utilization charges across analog companies, lead times are rapidly normalizing, which should bring pricing pressures, in our view.”Citi upgrades T. Rowe Price to neutral from sellCiti said it sees a more balanced risk/reward for the asset manager.“We are upgrading TROW to Neutral from Sell. The stock has been under consistent pressure in recent months as outflows have weighed.”Deutsche Bank reiterates Tesla as buyDeutsche Bank said it’s standing by its buy rating on the automaker.“We view Tesla as better positioned in the long term from its cost advantage, but continue to warn about large additional downside risk to consensus 2024 expectations amid softer EV demand, aging models and price risk.”Piper Sandler upgrades Check Point Software to neutral from underweightPiper Sandler said it sees a more balanced risk/reward for Check Point.“We are upgrading shares to Neutral from Underweight and raising our PT to $125, eyeing a balanced risk / reward at these levels considering the modest ~11x CY′24E EV / FCF multiple.”Wells Fargo upgrades Globe Life to overweight from equal weightWells Fargo said it sees upside for the life insurance company.“We are upgrading GL to Overweight, and our $137 price target offers 20%+ upside from current levels.”Bank of America upgrades Pinterest to buy from neutralBank of America upgraded the social media company after its earnings report Monday.“We upgrade Pinterest to Buy from Neutral as: 1) Position vs peers much improved as q/q underperformance shifts to outperformance, expected in 4Q′23, 2) Much closer to start of Amazon deal ramp, expect more acceleration in 1H′24,”Morgan Stanley upgrades Arista Networks to overweight from equal weightMorgan Stanley said Arista Networks is a top artificial intelligence play.“Valuation sensitivity has kept us on the sidelines, but we view ANET as the best way to play AI networking’s eventual move to Ethernet.”Morgan Stanley upgrades Chewy to overweight from equal weightMorgan Stanley said in its upgrade of the stock that share sell-off is overdone.“CHWY has recently declined >50% on TAM saturation concerns. We believe the move is overdone as discrete macro headwinds have played an underappreciated role.”Seaport upgrades Lincoln Electric to buy from holdSeaport said the electric welding manufacturer is well-positioned.“We believe the LECO team has done an excellent job with M&A, new product development and operational excellence to position the company for future profitable growth.”Guggenheim initiates Tourmaline Bio as buyGuggenheim initiated the biotech company with a buy and says it’s well-positioned.“TRML is a clinical-stage biotech company focused on targeting severe autoimmune and inflammatory diseases with a novel, best-in-class monoclonal antibody against proinflammatory cytokine IL-6.Baird upgrades L3Harris Technologies to outperform from neutralBaird said in its upgrade of the tech and defense contractor that investors should buy the dip.“We are upgrading LHX stock to Outperform from Neutral reflecting the significant underperformance of the LHX stock ytd (down 17%) underperforming the S&P 500 by 26% (S&P 500 up 9%), plus two major M&A deals have closed in 2023 and defense funding is on path increase globally that sets up improving fundamentals for LHX in 2024.”Morgan Stanley upgrades SoFi to equal weight from underweightMorgan Stanley said the risks to SoFi are more than priced in.“More balanced risk-reward moves us to Equal-weight from Underweight.”JPMorgan upgrades AutoNation to neutral from underweightJPMorgan said AutoNation sees a more balanced risk/reward.“Shares have de-rated recently, underperforming the peer and group as well as the broader auto retail ecosystem since our update note on 2/21/2023, and we view the current valuation (~10% discount on P/E and 5% discount on EV/EBITDA) as appropriately reflecting balanced risks relative to peers.”Jefferies upgrades XPO to buy from holdJefferies said it sees margin expansion for the logistics company.“Upgrading to Buy/$95 PT; Increased Confidence in Long-Term Margin Opportunity.”Susquehanna upgrades Saia to positive from neutralSusquehanna said it sees an attractive entry point for the logistics company.“Against that backdrop, October’s weakness presents the long-term SAIA entry point we’ve been looking for since shares took off post-YELL, and we upgrade to Positive with a $420 target price (18% upside).”Jefferies upgrades Williams-Sonoma to hold from underperformJefferies said in its upgrade of the stock that downside catalysts are getting harder to find.“A full ’24 guide won’t come until Mar., but if WSM isn’t running at the bottom of its implied 2H guide, commentary signaling at least flat EBIT% in ’24 could support the stock.”MoffettNathanson downgrades Lyft to sell from neutralMoffettNathanson said in its downgrade of Lyft that it sees unsustainable revenue.“With 4Q23 results, management is expected to provide both long-term guidance and perhaps improved disclosures on bookings and volumes.”MoffettNathanson upgrades Roku to neutral from sellMoffettNathanson said the worst may be behind the streaming company.“Despite our concerns about rising competition in Roku’s two key revenue segments — devices and advertising — we believe that the intensifying focus on achieving real profitability and free cash flow (not just adjusted EBITDA) reduces the risk of the shares from de-rating further.”D.A. Davidson adds Ulta to the top picks listD.A. Davidson added the stock to its best-of-breed bison list and says it’s “uniquely positioned.”“We are including Ulta Beauty as our next ‘Best-of-Breed Bison’ company within the framework developed by D.A. Davidson’s research team to find long term best in class companies with sustainable moats and favorable risk / reward dynamics.”Evercore ISI reiterates Disney as outperformEvercore ISI lowered its price target on Disney to $100 per share from $110 but says it’s standing by the stock.“We trim our target from $110 to $100 (~20x our FY24 adj. EPS forecast of $4.95).”Morgan Stanley initiates Celsius Holdings as equal weightMorgan Stanley said in its initiation of the stock that it sees a balanced risk/reward.“Initiating at EW with the stock pricing in CELH reaching midteens share of US energy category over the next few years and robust international growth, which looks achievable but leaves less room for upside, and increasingly difficult comps ahead.”Northcoast upgrades Boeing to buy from neutralNorthcoast said in its upgrade of Boeing that it sees a “more promising long term earnings horizon.”“We are raising our investment rating on The Boeing Company  to BUY and shifting our focus away from short-term risks and toward a more promising long term earnings horizon.”JPMorgan upgrades Asbury Automotive to overweight from neutralJPMorgan said investors should buy the dip in shares of the auto company.“Shares have pulled back and ABG has been one of the worst performers YTD.”Wolfe upgrades Phillips 66 to outperform from peer performWolfe said in its upgrade of the stock that it sees further shareholder returns.“Within a very complex macro, PSX put forth a relatively simple plan where shareholder returns will accelerate in coming quarters.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":179,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":30,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}