Here are Friday’s biggest analyst calls: Apple, Amazon, Tesla, Microsoft, Boeing, First Solar & more
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Here are Friday’s biggest calls on Wall Street: Morgan Stanley reiterates Netflix as overweight Morgan Stanley raised its price target on the stock to $700 per share from $600. “Netflix’s track record includes pivoting from DVD to streaming, scaling the world’s largest studio, and successfully monetizing password sharing.” BMO reiterates Microsoft as outperform BMO said the company is well positioned in the gaming space. The firm raised its price target on the stock to $465 per share from $455. “We believe that MSFT is well positioned in the gaming market, particularly since we think leading content and scale are sources of competitive advantage.” Wolfe upgrades Mobileye to outperform from peer perform Wolfe said the autonomous driving systems company has “competitive advantages.” “We upgrade Mobileye to Outperform from Peer Perform.” Morgan Stanley reiterates Starbucks as overweight Morgan Stanley lowered its price target to $115 per share from $120 but says it’s sticking with Starbucks shares. “We are reducing 2Q/FY estimates to below guidance, investors likely below us, but we continue to see interesting risk/reward skew.” JPMorgan downgrades Corteva to neutral from overweight JPMorgan downgraded the chemical ag company as crop chemical prices are moving lower. “2024 is likely to begin slowly for Corteva . Crop chemical de-stocking continues in South America and Europe.” Bank of America reiterates Amazon as buy Bank of America said it’s sticking with its buy rating after the company released its shareholder letter on Thursday. ” Amazon published its CEO shareholder letter, highlighting the company’s performance in “an uncertain economy” and elaborating on the company’s building block philosophy.” Piper Sandler reiterates Charles Schwab as overweight Piper said shares of Schwab are attractive. “Charles Schwab’s profitability, earnings growth, and free cash flow yield make it an attractive stock in the Financial sector.” Bank of America reiterates Marvell as buy Bank of America said it’s sticking with its buy rating following Marvell’s AI event. “Our 12-month price target of $84 (17% potential upside) is unchanged and we maintain our Buy rating on the stock.” Jefferies initiates Academy Sports as buy Jefferies said the sporting goods company has an attractive valuation. ” ASO’s Price/Value Equation Attractive In Current Environment & Private Label Journey Just Middle Innings.” UBS initiates Spire as buy UBS said shares of energy company are deeply discounted. “We are initiating on Spire with a Buy and $68 price target.” BTIG initiates Hafnia as buy BTIG said it’s bullish on shares of the tanker company. “We are initiating coverage of Hafnia (HAFN) with a Buy rating and $10 PT, following the company’s listing on the NYSE earlier this week.” Morgan Stanley upgrades energy sector to attractive Morgan Stanley said it sees a slew of positive catalysts ahead for the energy sector. “The outlook for Energy equities has continued to evolve rapidly in recent months.” Rosenblatt downgrades Arista Networks to sell from buy Rosenblatt said Arista may not be a beneficiary of the AI data center trend after all. “We are downgrading ANET to Sell, from Buy, as we gain a better understanding of what’s going on in AI Data Center networking.” Raymond James upgrades GitLab to outperform from market perform Raymond James said in its upgrade of the software company that GitLab shares are finally attractive. “Attractive Industry; Significant Runway for Growth.” Mizuho upgrades Ecolab to buy from neutral Mizuho said it sees “earnings visibility” for the food safety company. “We upgrade ECL to Buy from Neutral, with a PT of $260 (from $216).” Citi adds a positive catalyst watch on Cisco Citi resumed coverage of the stock with a neutral rating but added a positive catalyst watch as it says the company will benefit from its Splunk acquisition. “We are opening a positive catalyst watch as we expect Cisco to benefit from the early close of the Splunk acquisition and a growing AI backlog, both of which are likely to be key topics on the company’s May 15 earnings call.” UBS upgrades DocuSign to neutral from sell UBS said the document signing company is now more fairly valued. “We are upgrading our view of DocuSign shares from a Sell to Neutral and raise our PT to $62 from $48.” Goldman Sacks reiterates Apple as buy Goldman said it’s sticking with its buy rating ahead of earnings in early May. “We expect AAPL to deliver relatively in-line results for F2Q24 with EPS of $1.53 and revenue of $90.7 bn.” JPMorgan reiterates Boeing as overweight JPMorgan lowered its price target on Boeing to $210 per share from $230, but said it’s sticking with its overweight rating. “The path forward on production is not very clear, and while demand should allow for significant growth over time, investors should keep nearer term expectations in check.” Janney initiates First Solar as buy Janney said the solar company is a beneficiary of “tougher on China” trade policy. ” FSLR : Initiating Coverage with a BUY Rating and $236 Fair Value.” BMO initiates Novo Nordisk as outperform BMO said it likes the company’s obesity product pipeline. “We are initiating coverage of Novo Nordisk US ADRs with an Outperform rating and $163 target.” Citi reiterates Tesla as neutral Citi lowered its price target on the stock to $180 per share from $196. “Given NT [near term] Tesla demand headwinds (in our view tied to product age, saturation), we still see more downside than upside to our NT estimates.”
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