Macquarie downgrades Sony to neutral from buy
Macquarie has downgraded Sony to a neutral rating from buy. The investment bank cited a more balanced risk/reward for the entertainment company, stating that Sony is near its target price and market expectations are at risk due to lackluster FY3/25 guidance.
JPMorgan adds Ulta to the focus list
JPMorgan has added Ulta Beauty to its Analyst Focus List as a growth investment. The bank raised its price target on the stock, stating that there is potential upside to 4Q23 earnings and that the current FY24 Street estimate is reasonable for the company.
DA Davidson names I3 Verticals a top pick
DA Davidson has named I3 Verticals as a top pick. The software solutions company is seen as having untapped value and provides integrated software and payment solutions to select vertical markets.
Deutsche Bank reiterates Rocket Lab as a top pick
Deutsche Bank is standing by its bullish status on Rocket Lab. The bank believes that Rocket Lab remains the top pick in its Space coverage universe, especially in the context of a transitional year for the industry.
Piper Sandler reiterates Nvidia as overweight
Piper Sandler has reiterated its overweight rating on Nvidia and raised its price target on the stock. The bank sees positive momentum building around Nvidiaโs existing tailwinds of accelerated compute and generative AI.
Citi initiates Similarweb as buy
Citi has initiated coverage of Similarweb with a buy rating. The bank sees Similarweb as a turnaround story, believing that the companyโs Q4 results signaled a rebound in growth metrics and improved execution.
Deutsche Bank reiterates FedEx as buy
Deutsche Bank is standing by its buy rating on FedEx, despite expecting another tough quarter when the company reports earnings in March. The bank believes itโs still possible for FedExโs full-year EPS to come in within the range of its guidance, although the low end is more likely.
KeyBanc reiterates Apple as sector weight
KeyBanc has maintained its sector weight rating on Apple. The bankโs survey checks show in-line to slightly better iPhone 15 sell-through post-holiday season. KeyBanc also highlights potential pressures on Appleโs hardware revenue estimates.
HSBC initiates GE Healthcare as buy
HSBC has initiated coverage of GE Healthcare with a buy rating. The bank sees margin expansion potential for the GE spinoff healthcare company, particularly due to its installed base globally and the advantages it brings for up-selling and cross-selling.
Evercore ISI initiates Skechers as outperform
Evercore ISI has initiated coverage of Skechers with an outperform rating. The bank sees Skechers as a steady revenue compounder with potential margin upside.
JPMorgan upgrades Coinbase to neutral from underperform
JPMorgan has upgraded Coinbase to a neutral rating from underperform. The bank cites the surge in Bitcoin price and strengthening crypto market as factors that have increased Coinbaseโs earnings power.
Evercore ISI initiates Deckers as outperform
Evercore ISI has initiated coverage of Deckers with an outperform rating. The bank believes that Deckers offers one of the best plays in the shoe industry with a high-quality growth profile and robust brand momentum.
UBS upgrades Medpace to buy from neutral
UBS has upgraded Medpace to a buy rating from neutral. The bank believes that the clinical research companyโs guidance appears conservative and there could be upside to 2025 consensus.
JPMorgan upgrades Teradyne to neutral from underweight
JPMorgan has upgraded Teradyne to a neutral rating from underweight. The bank believes that the equipment test manufacturerโs 2024 estimate risks have moderated, leaving limited downside to current levels.
HSBC downgrades Snowflake to hold from buy
HSBC has downgraded Snowflake to a hold rating from buy. The bank cites the stockโs strong rally as the reason for the downgrade.
Bernstein reiterates Arm as underperform
Bernstein has reiterated its underperform rating on Arm. Although the bank acknowledges strong Q3 results and raised guidance for FY24, it believes that the current valuation levels are too high.
Redburn Atlantic Equities initiates Eastman Chemical as buy
Redburn Atlantic Equities has initiated coverage of Eastman Chemical with a buy rating. The bank sees the chemical company as undervalued and highlights its vertically integrated business model as an advantage.
Redburn Atlantic Equities downgrades Comcast to neutral from buy
Redburn Atlantic Equities has downgraded Comcast to a neutral rating from buy. The bank sees potential pressure on cable broadband subscriptions, which could impact Comcastโs performance.
Morgan Stanley upgrades Principal Financial to equal weight from underweight
Morgan Stanley has upgraded Principal Financial to an equal weight rating from underweight. The bank sees improved positioning and better valuation for the company.
Wells Fargo resumes Cisco as equal weight
Wells Fargo has resumed coverage of Cisco at an equal weight rating. The bank believes that the stock is fairly valued based on its recent earnings report.
Morgan Stanley downgrades Cleveland-Cliffs and U.S. Steel to equal weight from overweight
Morgan Stanley has downgraded Cleveland-Cliffs and U.S. Steel to an equal weight rating from overweight. The bank cites modest demand growth and lower prices as reasons for the downgrade.
Bank of America upgrades Air Products to buy from neutral
Bank of America has upgraded Air Products to a buy rating from neutral. The bank believes that the chemical industry company is better than the market thinks, citing valuation disconnect with Linde and a robust base business.
Bank of America initiates Super Micro as buy
Bank of America has initiated coverage of Super Micro Computer with a buy rating. The bank sees the server and storage solutions company as a beneficiary of AI-driven demand growth.
Guggenheim downgrades Generac to neutral from buy
Guggenheim has downgraded Generac to a neutral rating from buy. The bank cites valuation as the reason for the downgrade.
Mizuho upgrades Eversource Energy to buy from neutral
Mizuho has upgraded Eversource Energy to a buy rating from neutral. The bank believes that once the energy company divests its offshore wind assets, it will become a pure-play regulated utility with an improved balance sheet.
Bank of America reiterates Uber as buy
Bank of America has reiterated its buy rating on Uber following the companyโs investor day. The bank raised its price target on the stock, citing new disclosures and a positive financial outlook.
Morgan Stanley reiterates Tesla as overweight
Morgan Stanley is sticking with its overweight rating on Tesla. The bank believes that Western car companies have come to realize the importance of China in mass EV adoption.
BMO upgrades Manulife Financial to outperform from market perform
BMO has upgraded Manulife Financial to an outperform rating from market perform. The bank sees improving earnings visibility for the insurance company and highlights its attractive price-to-capital generation multiple and FCF yield.
KBW reiterates Berkshire Hathaway as market perform
KBW is maintaining its market perform rating on Berkshire Hathaway after reviewing its 13-f. The bank estimates that the value of BRKโs equity portfolio has declined quarter-to-date.
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