CFRA Upgrades Seagate to Buy from Hold
CFRA has upgraded Seagate after its earnings report, stating that it sees a recovery in cloud demand. Despite concerns about the macro environment, CFRA believes that IT hardware budgets will rebound due to secular growth drivers. While there are initial signs of stabilization in the cloud sector, broader demand recovery is expected to be gradual due to economic uncertainty.
Oppenheimer Reiterates Apple as Outperform
Oppenheimer remains bullish on Apple’s future in gaming and reiterates its outperform rating for the company. According to Oppenheimer, Apple is committed to building the best HD gaming platform with its hardware.
Bank of America Reiterates Alphabet as Buy
Bank of America has raised its price target for Alphabet and maintains its buy rating on the stock. The bank sees Alphabet as well positioned in the long term, with leading AI technology that can be applied to search, YouTube, and its Cloud businesses.
JPMorgan Reiterates Tesla as Underweight
JPMorgan has lowered its price target for Tesla following the company’s earnings report. The bank believes that Tesla’s profit expectations have fallen and sees further downside potential for the stock.
TD Cowen Upgrades American Airlines to Outperform
TD Cowen has upgraded American Airlines to outperform and increased its price target for the stock. The firm believes that American Airlines is regaining momentum and expects positive performance in the future.
UBS Downgrades Humana to Neutral
UBS has downgraded Humana from buy to neutral, citing volatility in the company’s near-term results and an extended time frame for recovery. The bank believes that Humana shares will trade at a mid-teens forward multiple.
Needham Downgrades Intel to Hold
Needham has downgraded Intel from buy to hold due to challenges faced by the company. The firm mentions an unexpected EPS reset, GM headwinds, and challenges in the core data center segment as reasons for the downgrade.
Oppenheimer Upgrades Coinbase to Outperform
Oppenheimer has upgraded Coinbase from perform to outperform and set a price target for the stock. The firm sees multiple catalysts ahead for the crypto company, including a potential resolution of the SEC lawsuit and the introduction of a Spot Bitcoin ETF.
Deutsche Bank Upgrades Snap to Buy
Deutsche Bank has upgraded Snap from hold to buy, stating that the stock is undervalued. The bank sees strong revenue and EBITDA revisions in Snap’s future, driven by Snapchat+ and the ad platform rebuild.
Oppenheimer Upgrades Bread Financial to Outperform
Oppenheimer has upgraded Bread Financial from perform to outperform, citing its undervalued status. The firm finds the company’s valuation and capital metrics enticing, despite tough economic times.
JPMorgan Downgrades Dow to Neutral
JPMorgan has downgraded Dow from overweight to neutral, citing constrained cash flow. While Dow’s cash flow is sufficient for current needs, JPMorgan believes it is limited in its ability to do more.
Bank of America Reiterates Amazon as Buy
Bank of America maintains its buy rating on Amazon, stating that the company is well positioned. With drivers for AWS acceleration and potential margin upside, Bank of America sees Amazon as a solid investment.
Piper Sandler Downgrades US Bancorp to Neutral
Piper Sandler has downgraded US Bancorp from overweight to neutral, primarily due to valuation concerns. While the firm still has a positive view of the company, it sees fewer catalysts for outperformance compared to its peers.
UBS Downgrades Archer-Daniels Midland to Neutral
UBS has downgraded Archer-Daniels Midland from buy to neutral, citing degrading margins. The bank sees no upside for the stock and expects earnings to be negatively impacted by the lack of growth in the Nutrition segment and declining Soy crush earnings.
RBC Downgrades Northrop Grumman to Sector Perform
RBC has downgraded Northrop Grumman from outperform to sector perform, stating that upside is limited. The firm has also lowered its price target for the stock.
Goldman Sachs Upgrades Asur to Buy
Goldman Sachs has upgraded Asur to buy, seeing it as a structural growth story. The firm believes that the stock offers potential due to its undemanding valuation and challenging short-term outlook.
Goldman Sachs Reiterates Jabil as Buy
Goldman Sachs has reinstated coverage of Jabil with a buy rating, stating that it sees reduced volatility for the electronics company. The firm cites rising exposure to fast-growing and profitable end markets as a reason for its positive outlook.
Wedbush Reiterates Tesla as Outperform
Wedbush continues to stand by Tesla with an outperform rating. However, the stock has been removed from Wedbush’s best ideas list due to investment price discipline.
Evercore ISI Reiterates Pinterest as Outperform
Evercore ISI maintains its outperform rating on Pinterest after conducting a series of channel checks. The firm has raised its price target for the stock and is optimistic about its future performance.
Hot Take: Analyst Calls Provide Insight into Market Sentiment
The recent analyst calls on Wall Street offer valuable insights into market sentiment and provide guidance for investors. Upgrades and reiterations indicate positive outlooks for certain companies, while downgrades signal caution. These calls highlight the factors that analysts consider when evaluating stocks, such as earnings reports, industry trends, and macroeconomic conditions. It’s essential for investors to stay informed about these analyst recommendations to make informed decisions about their portfolios. However, it’s important to conduct further research and analysis to form a comprehensive view of a company’s prospects before making investment decisions.
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