Biggest Calls on Wall Street

Barclays initiates Supermicro as overweight

Barclays has labeled the information technology company Supermicro as overweight and believes it is well positioned for the artificial intelligence (AI) market. The bank expects Supermicro to benefit from the increasing demand for AI servers due to its strong design capabilities and AI partnerships.

Evercore ISI upgrades CVS to outperform from in line

Evercore ISI has upgraded the drugstore chain CVS to outperform, citing its attractiveness as an investment. The upgrade comes as operational issues improve and the stock is valued favorably.

Goldman Sachs downgrades Lazard to sell from neutral

Goldman Sachs has downgraded the investment bank Lazard to sell, stating that the outlook is challenging. The bank predicts that Lazard will face pressure in the near term due to a difficult top-line trajectory and a longer path to margin improvement.

Truist upgrades Royal Caribbean to buy from hold

Truist has upgraded the stock of Royal Caribbean to buy, noting positive booking trends. The bank is optimistic about the sector and believes that Royal Caribbean will benefit from these trends.

Daiwa upgrades Dell to outperform from hold

Daiwa has upgraded Dell, stating that the company is experiencing the beginning of a new demand cycle, particularly in relation to AI. The bank believes that Dell’s rating should be raised to outperform from neutral.

Redburn Atlantic Equities initiates Arm Holdings as neutral

Redburn Atlantic Equities has initiated coverage on the semiconductor company Arm Holdings as neutral. The firm suggests that Arm Holdings is currently overvalued and will need to demonstrate sustained performance in order to justify its current valuation.

JPM downgrades Planet Fitness to neutral from overweight

JPMorgan Chase has downgraded Planet Fitness due to leadership changes and ongoing systemic challenges. The bank believes that these issues may negatively impact the company’s performance in the future.

TD Cowen reiterates Nvidia as outperform

TD Cowen has reiterated its outperform rating on Nvidia, stating that the recent conference has increased their confidence in the company’s leadership in training and inference for AI. The bank believes that Nvidia is well-positioned in the early stages of AI development.

Raymond James upgrades Rackspace Technology to outperform from market perform

Raymond James has upgraded the cloud computing company Rackspace Technology to outperform, highlighting management’s execution. The bank believes that Rackspace has made significant improvements in its strategic direction and overall business organization.

Barclays reiterates Apple as equal weight

Barclays has maintained its equal weight rating on Apple, reporting that iPhone 15 preorders in China are lower compared to the previous year. The bank notes a 5% decrease in overall unit orders, with a 4% decrease in pro mix on a year-over-year basis.

Goldman Sachs reiterates Micron as buy

Goldman Sachs has reconfirmed its buy rating on Micron and raised its price target to $85 per share. The bank expects improving demand trends and disciplined supply to drive higher pricing, resulting in improved margins and sustained stock price outperformance.

Citi initiates GE Healthcare as buy

Citi has initiated coverage on GE Healthcare as a buy, emphasizing the company’s essential and pervasive products throughout the healthcare industry. The bank sees potential in GE Healthcare following its spinoff from General Electric.

Bank of America adds Array Technologies to the US1 list

Bank of America has added the solar manufacturer Array Technologies to its US1 list, describing it as a “diamond in the rough.” The bank believes that Array Technologies stands out in a market where other cleantech companies face uncertainties.

TD Cowen downgrades Starbucks to market perform from outperform

TD Cowen has downgraded Starbucks to market perform, expressing concerns about pressures in the Chinese market. The bank anticipates challenges in same-store sales and believes that this may impact Starbucks’ valuation.

Evercore downgrades Deere to in line from outperform

Evercore has downgraded Deere, citing agriculture production cuts. The bank suggests that Deere’s revenue may decline in the next fiscal year, which is more significant than the consensus expectation of a flat performance.

KeyBanc reiterates Alphabet as overweight

KeyBanc has maintained its overweight rating on Alphabet, expressing confidence in the company’s margin expansion. The bank believes that Alphabet’s expense cuts and recent layoffs indicate a moderation in hiring growth, with potential for further savings and improved margins in its Cloud business.

Previous articleiOS 17: Streamlined Two-Factor Authentication and How to Enable Automatic Deletion
Next articleWhy It’s Not Recommended to Reduce a Child’s High Fever with Aspirin: Pediatrician Explains
Clayton Turner is a news reporter and copy editor for 24PalNews. Born and raised in Virginia, Clayton graduated from Virginia Tech’s Frank Batten School of Leadership and Public Policy and majored in journalism.

Leave a Reply