Here are Friday’s biggest analyst calls: Nvidia, Apple, Meta, Amazon, Disney, Chipotle, Nike, Roblox, Costco & more
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Here are Friday’s biggest calls on Wall Street: Morgan Stanley reiterates Meta as overweight Morgan Stanley raised its price target to $550 per share from $375 after the company’s earnings report on Thursday. ” META’s results and guidance were significantly stronger than expectations.” Goldman Sachs reiterates Amazon as buy Goldman said it’s sticking with its buy rating after the company’s robust earnings report on Thursday. ” AMZN’s Q4’23 earnings report produced a beat across the board compared to GS/Street estimates driven by solid revenue trends and a rising margin trajectory in its North America eCommerce business and by a reacceleration of AWS revenue growth at rising margins.” Bank of America reiterates Apple as buy Bank of America said investors should keep buying shares of Apple after its earnings report on Thursday. “iPhone grows despite China weakness; 15 cycle up vs. 14; GM [gross margin] blowout; GenAI coming.” Bank of America reiterates Nvidia as buy Bank of America raised its price target on the stock to $800 per share from $700 heading into earnings on Feb. 21. “Expect NVDA to maintain dominance in AI inference also.” Evercore ISI upgrades Global Payments to outperform from in line Evercore said in its upgrade of Global Payments company that the growth outlook is improving for the payment tech company. “Upgrading to Outperform on Improving Growth Outlook.” Oppenheimer reiterates Costco as outperform Oppenheimer raised its price target to $760 per share from $695. “We look very favorably upon COST’ s L-T prospects. Citi upgrades Sea Limited to buy from neutral Citi said the Singapore tech conglomerate has a “promising” outlook. “Together with steady gaming bookings on stable EBITDA margins while Fintech business delivers an improving profitability trend, Sea’s fundamental outlook is likely to turn more promising.” Citi upgrades Macy’s to neutral from sell Citi said in its upgrade of the stock that the “risk/reward is less skewed to the downside.” “In early December, the stock traded to ~$21 following a WSJ news story suggesting M had received a bid to be acquired at $21. With shares quickly trading up to within 1% of $21, we downgraded to Sell based on our skepticism that anything would materialize. We remain skeptical, but with the stock down 13% since, the risk/reward is less skewed to the downside.” Deutsche Bank downgrades New York Community Bancorp to hold from buy Deutsche downgraded New York Community Bancorp after its “disappointing” earnings report earlier this week. “We are downgrading the shares to HOLD and lowering our price target to $7.” Baird names KeyCorp and Comerica fresh picks Baird said investors should buy the dip in KeyCorp and Comerica. “Take advantage of this week’s pullback, designating CMA, KEY, and TFC as Bullish Fresh Picks.” Barclays reiterates Nike as a top idea Barclays said it’s standing by Nike as a 2024 best idea. “We have increased confidence on margin drivers over the next 12- to 18-months as we seek more evidence on NKE’s forthcoming product launches to assess the speed of sales recovery.” Wells Fargo reiterates Shopify as buy Wells raised its price target on Shopify to $90 per share from $70. “With a strong holiday shopping season largely priced in, our attention turns to new product updates, rank ordering ’24 catalysts and assessing the sustainability of margin outperformance. Maintain OW and raise our PT to $90 (from $70).” Bank of America reiterates Roblox as buy Bank of America said it’s bullish on the stock heading into earnings next week. ” RBLX plans to initiate quarterly and full year guidance on 7 February for the first time, a very positive development.” Citi reiterates Disney as buy Citi said it’s standing by the stock heading into earnings next week. ” Disney reports F1Q24 results Wednesday (2/7) after the close. We believe the primary focus will be on DTC profitability and the execution of company’s cost saving initiatives announced in F1Q23.” UBS reiterates Chipotle as buy UBS said it’s bullish heading into earnings next week. “We continue to view CMG as one of the best positioned in the sector for traffic outperformance and margin gains into 2024, and we value the brand’s highly dependable growth outlook.”
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