All the market-moving Wall Street chatter from Friday

(This is CNBC Pro’s live coverage of Friday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) Microsoft and Lyft were among the stocks being discussed by analysts on Friday. Oppenheimer raised its price target on Microsoft to $500 on the potential of increasing AI adoption. Lyft, meanwhile, was upgraded to buy at Loop Capital. Check out the latest calls and chatter below. All times ET. 5:45 a.m.: Wall Street analysts react to Nio earnings Nio reported weaker-than-expected earnings for the first quarter on Thursday. U.S. shares of the Chinese electric vehicle maker tumbled nearly 7% in the session following the report, bringing its 2024 loss to more than 45%. Here’s some of the biggest takeaways from analysts on how the stock has done and what could come next: Morgan Stanley’s Tim Hsiao (overweight rating, $10 price target implying 103.7% upside) : “We think the sell-off is overdone and look for the NIO’s shares to regain the lost ground in the coming days, while more meaningful stock re-rating would hinge on sales momentum into 3Q and, to a greater extent, ONVO’s order conversion.” Bernstein’s Eunice Lee (market perform rating, $5.50 price target suggesting 12% upside): “Our recent channel check suggests robust order intake from May carried on through to early June primarily due to BaaS monthly subscription fee being lowered to c. RMB 500/month after discounts & promotions, vs. RMB 980/month at the beginning of 2024. In addition, a portion of Xiaomi SU7 prospects have turned to NIO ET5/T as the waiting time was too long.” Bank of America’s Ming Hsun Lee (neutral rating, $6 price target reflecting 22.2% upside) : “NIO commented that its orders in May exceeded its maximum production capacity of 20k units per month. In the coming few months it expects up to 20k units of monthly delivery (excl. ONVO). With higher sales volume, better product mix, and procurement cost reduction, we assume NIO’s vehicle margin to improve sequentially in 2Q24/2H24. On the other hand, NIO sees R & D expenses for 2024 to stay flattish YoY versus 2023 and SG & A expenses growth < 20%.” — Alex Harring 5:42 a.m.: Oppenheimer raises Microsoft price target Microsoft’s partnership with OpenAI and the increasing adoption of artificial intelligence-related tools could spark another strong period for the tech giant, according to Oppenheimer. Analyst Timothy Horan raised his price target to $500 from $450, reiterating his outperform rating. Horan’s new forecast implies upside of 17% from Thursday’s close. Microsoft shares are up more than 12% year to date. MSFT YTD mountain MSFT year to date “Microsoft will regain a dominant platform role like its PC-era influence in a larger AI-driven market, and expand its multiple,” the analyst said. “A majority of new AI applications are built on this partnership because of the strength of OpenAI’s LLMs, Microsoft’s great enterprise relationships, infrastructure optimized for OpenAI, training data, a complete IT bundle, and the AI flywheel of learning from Copilot usage,” Horan added. “Microsoft’s platform supports on-prem (hybrid cloud) and is the best at data privacy, both key issues for enterprises. Combined, Microsoft has unsurpassed network effects, the true barrier to entry of any technology company.” — Fred Imbert 5:42 a.m.: Buy Lyft as targets look ‘highly achievable,’ Loop says Loop Capital has moved off the sidelines on Lyft amid what could be a “successful turnaround.” Analyst Rob Sanderson upgraded the rideshare platform to buy from hold. Sanderson’s $20 price target implies a 27.5% upside from Thursday’s close. Sanderson pointed to Lyft’s targets of a 15% compounded growth rate in gross bookings through 2027 and margin expansion of approximately 4% of those bookings as reasons for optimism. He also called these benchmarks “highly achievable.” Paired with expectations for compound annual growth in adjusted EBITDA of 40% or more through 2027, Sanderson said the stock can “easily” support a multiple of 15-times 2025 estimates. “We are more confident that the new management team … is on track in repositioning the company and has a firm handle on the levers for executing a successful turnaround’,” Sanderson wrote to clients in a Thursday note. Lyft shares popped 1.7% before the bell on Friday. The stock has added more than 4% in 2024, underperforming the broader market. LYFT YTD mountain LYFT year to date — Alex Harring