Cantor Fitzgerald initiates Nvidia as a top pick
According to Cantor Fitzgerald, Nvidia is a top pick at the firm. The company has been recognized for its advancements in generative AI.
Citi reiterates Meta as a buy
Citi has raised its price target on Meta to $440 per share and continues to view it as a top pick. The firm believes that the online advertising environment is strengthening and newer ad products are in high demand.
Bank of America adds Apple to the US1 list
Apple has been added to Bank of America’s top picks list. The firm sees great potential in the company and its stock.
TD Cowen downgrades Chevron
TD Cowen has downgraded Chevron from outperform to market perform due to concerns about share underperformance. The firm believes that Chevron may miss its 4Q23 guide and faces execution risks.
TD Cowen upgrades Exxon
TD Cowen has upgraded Exxon from market perform to outperform. The firm sees compelling upside potential in the stock, especially considering its current valuation.
Wells Fargo downgrades Bill.com
Wells Fargo has downgraded payment company Bill.com from overweight to equal weight. The firm believes that there are increasing macro and micro uncertainties surrounding the company.
Jefferies upgrades Teva
Jefferies has upgraded pharmaceutical company Teva from hold to buy. The firm sees several positive catalysts ahead for the company.
Citi adds TKO to focus list
Citi has added entertainment company TKO to its focus list. The firm sees an attractive risk/reward opportunity in the company.
Truist upgrades Sunnova and Enphase
Truist has upgraded solar stocks Sunnova and Enphase from hold to buy. The firm believes that these stocks may have reached their bottom and sees potential upside opportunities.
JPMorgan downgrades Coinbase
JPMorgan has downgraded Coinbase from neutral to underweight. The firm believes that the Bitcoin ETF will disappoint market participants.
Wells Fargo initiates NRG Energy as overweight
Wells Fargo has initiated coverage on energy company NRG Energy with an overweight rating. The firm is bullish on the company’s transition towards an energy services-centric strategy.
Goldman Sachs upgrades Zuora
Goldman Sachs has upgraded cloud-based subscription company Zuora from neutral to buy. The firm sees an attractive risk/reward opportunity for the stock.
JMP initiates Safehold as buy
JMP has initiated coverage on real estate investment trust company Safehold with a buy rating. The firm is positive about the long-term, low-risk nature of the company’s cash flows.
Wells Fargo downgrades SiriusXM
Wells Fargo has downgraded SiriusXM from equal weight to underweight. The firm believes that the merger with Liberty media clouds the valuation of the stock.
Oppenheimer initiates Flywire as outperform
Oppenheimer has initiated coverage on payments company Flywire with an outperform rating. The firm sees growth potential in Flywire’s high average ticket model.
JPMorgan downgrades Bloomin’ Brands
JPMorgan has downgraded Bloomin’ Brands, the owner of Outback Steakhouse, from overweight to neutral. The firm sees too much uncertainty surrounding the company.
UBS downgrades Philip Morris
UBS has downgraded Philip Morris from buy to sell due to concerns about missing tobacco volumes. The firm believes that the company may fall short of its heated tobacco volume target in 2026.
Morgan Stanley reiterates Microsoft as overweight
Morgan Stanley has reiterated its overweight rating on Microsoft and raised its price target on the stock. The firm sees strong positioning for the company in the GenAI market.
Evercore ISI upgrades Duke Energy
Evercore ISI has upgraded utility company Duke Energy from in line to outperform. The firm sees an attractive risk/reward opportunity for the stock.
Guggenheim reiterates Tesla as sell
Guggenheim is maintaining its sell rating on Tesla ahead of earnings. The firm believes that there are concerns about pricing and margins.
Evercore ISI downgrades Aflac
Evercore ISI has downgraded insurance company Aflac from in line to underperform mainly due to valuation concerns.
Roth MKM names Boston Beer a top pick
Roth MKM has named Boston Beer a top pick for 2024. The firm sees several factors that could lead to a strong performance for the company.
Stephens downgrades Tractor Supply
Stephens has downgraded Tractor Supply from overweight to equal weight based on valuation concerns.
Hot Take: Wall Street’s Latest Calls
Tuesday saw several notable calls on Wall Street, with analysts making changes to their recommendations for various stocks. Cantor Fitzgerald initiated Nvidia as a top pick, while Citi reiterated its buy rating on Meta. Bank of America added Apple to its top picks list, and TD Cowen downgraded Chevron. On the other hand, TD Cowen upgraded Exxon, and Wells Fargo downgraded Bill.com. Jefferies upgraded Teva, Citi added TKO to its focus list, and Truist upgraded Sunnova and Enphase. JPMorgan downgraded Coinbase, while Wells Fargo initiated NRG Energy as overweight. Goldman Sachs upgraded Zuora, and JMP initiated Safehold as a buy. Wells Fargo downgraded SiriusXM, Oppenheimer initiated Flywire as outperform, and UBS downgraded Philip Morris. Morgan Stanley reiterated Microsoft as overweight, Evercore ISI upgraded Duke Energy, Guggenheim reiterates Tesla as sell, Evercore ISI downgraded Aflac, Roth MKM named Boston Beer a top pick, and Stephens downgraded Tractor Supply.
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