Friday’s biggest Wall Street analyst calls Nvidia
Here are Friday’s biggest calls on Wall Street: Goldman Sachs initiates Flutter as buy Goldman said the online gambling company is well positioned. ” Flutter’s FanDuel brand has a leading position in online sports betting in the US…” Goldman Sachs initiates Aecom as buy Goldman said the infrastructure management company has an “expanding competitive moat.” “We initiate coverage of AECOM (ACM) – an infrastructure professional services firm – with a Buy rating and $130 12-month price target.” Citi reiterates Apple as buy Citi said its survey checks show Apple’s iPhone could be a holiday winner. “We see increasing purchase intentions (+7%) and dollar spending intentions (+6% y/y) for smartphones in the upcoming holiday season. For iPhone specifically, the results show a slight increase in consumer preference to choose iPhone.” UBS initiates Roku as neutral UBS said it sees a balanced risk/reward for the stock. “With its operating system (OS) maintaining a commanding market share in many advanced markets, we see ROKU as a key enabler of the streaming ecosystem, positioning the company to capture ad spend migrating from traditional TV.” Redburn Atlantic Equities reiterates Microsoft as buy The firm said investors should buy the dip in Microsoft shares. “However, we are at a turning point, as the sharp rise in D & A [data and analytics] acts as a leading indicator, signalling that monetisation is approaching and supporting an Azure reacceleration in 2H25. Given the recent share price weakness, the market appears to give little credit for this – a view we disagree with.” Piper Sandler downgrades Sunrun to neutral from overweight Piper said in its downgrade of the solar company that it sees too much uncertainty. “Finally, downgrading RUN to Neutral given cash gen uncertainty (post safe-harbor) under our base case amid a higher-for-longer rate environment.” KeyBanc upgrades RBC Bearings to overweight from sector weight KeyBanc said the manufacturing company is a defense beneficiary. “Specifically, we think RBC should benefit from an aerospace reacceleration, continued strength in Defense, and an industrial portfolio that could outgrow the industry.” Baird upgrades KinderCare to outperform from neutral Baird said investors should buy the dip in shares of the daycare company. “Upgrading to Outperform given material decline in shares/valuation against our largely unchanged estimates; we think yields favorable risk/reward on ’26+ estimates as long as KinderCare executes reasonably well.” Baird upgrades Bright Horizons to outperform from neutral Baird said the daycare company is well positioned. “BFAM’s excellent Back-Up Care business (now the majority of profit) is continuing to perform well with good runway while Full Service is continuing to recover (even if decelerating; some deceleration should be expected at this stage of the recovery) with material incremental margin recovery potential.” Bank of America reiterates Affirm as buy Bank of America said the fintech company is “firing on all cylinders.” ” AFRM enjoys scarcity value (the only pure-play publicly traded BNPL [buy now pay later] provider, although Klarna has publicly announced US IPO plans) and should also benefit from newer growth catalysts over the next 12-24 months, including Apple Pay partnership, UK launch, and Affirm Card.” Phillip Securities downgrades Nvidia to accumulate from buy The firm downgraded Nvidia mainly on valuation. “We downgrade BUY to ACCUMULATE due to recent price movements, with a higher target price of US$160 (prev. US$155).” JPMorgan initiates Carpenter Technology as overweight JPMorgan said it’s bullish on shares of the steel company. “We are initiating coverage of US-based specialty-alloys producer Carpenter Technology (Carpenter) with an Overweight rating and a Dec-25 price target of $220.” Needham initiates Nike as buy Needham said it’s bullish on the company’s new CEO. “The biggest catalyst of change is the recent CEO transition, from John Donohoe, to well-respected Nike veteran Elliott Hill. We also believe that management is clear-headed about the mistakes they’ve made, and are working aggressively to correct them.” Wells Fargo initiates Arm as overweight Wells said it sees upside to consensus for the chip stock. ” Arm’s CPUs enabled advanced computing in > 99% of the world’s smartphones in 2022 & more than 250B chips cumulatively, powering everything from the tiniest of sensors to the most powerful supercomputers.” Truist reiterates Amazon as buy Truist said Amazon is well positioned heading into the holiday season. “We believe NA [North America] revenue is tracking slightly ahead of consensus estimates QTD (thru 11/18) and at the upper-end of industry growth projections for eCom this Holiday Season.” Bank of America initiates Kyndryl as buy The firm said the stock is “poised for inflection.” “We initiate on KD , the world’s largest provider of IT infrastructure services, with a Buy rating and Street high PO of $40.” Wells Fargo initiates NXP Semiconductors as overweight Wells said the semis company has “competitive positioning.” “While semi demand continues to bounce along the bottom, we think NXP’s competitive positioning & hybrid / geo diverse manuf strategy can drive cont’d market share gains & further GM% [gross margin] leverage toward its new 57%-63% 2027 target.” Leerink upgrades AbbVie to outperform from market perform Leerink said investors should take advantage of an “election-related downdraft to purchase shares in this high quality company.” “We are upgrading ABBV from MP to OP and maintaining our PT of $206.” UBS initiates Global Business Travel Group as buy The firm said the travel company is a “category leader.” “We initiate coverage of Global Business Travel Group (Buy, $11 PT).” Baird upgrades Elastic to outperform from neutral Baird said the software company is an AI beneficiary. “We are upgrading Elastic to Outperform due to a significant unexpected turnaround in execution, evident in Q2’s results, highlighted by strong commitments, healthy consumption, improved win-rates and GenAI-inflection validating our medium-term/long-term thesis.”
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