Friday’s top Wall Street stocks like Nvidia

Here are Friday’s biggest calls on Wall Street: JPMorgan upgrades Nio to overweight from neutral JPMorgan said a turnaround is underway for the China EV company. “We are upgrading NIO to OW from Neutral on the back of: 1) higher visibility on new model initiatives and pipeline into 2025; and 2) rapid improvement in cash position and hence removal of investors’ concerns of further fund raising or equity dilution risk.” Barclays initiates MicroStrategy as overweight Barclays said the crypto company has a “unique and differentiated” offering. “We are initiating coverage of MSTR with an OW rating and $146 price target. The company’s strategy—to convert a sticky enterprise software business into a bitcoin accumulation vehicle—is unique and differentiated.” Barclays upgrades Coinbase and Robinhood to equal weight from underweight Barclays said the valuation for both stock is starting to look for more “sensible.” “Over the past year+, the business models at both COIN and HOOD have matured and while we still see risks for both models, we also see potential top-line catalysts (product, regulation, etc.).” Morgan Stanley upgrades Oma to overweight from equal weight Morgan Stanley said shares of the Mexican airport operator are compelling. “We are upgrading OMA to OW from EW, as we see a more attractive risk reward following the stock’s recent underperformance, while we also see upside to consensus traffic numbers in 4Q24/1Q25 based on flight schedule data.” Deutsche Bank initiates Burford Capital as buy Deutsche said it’s bullish on shares of the litigation finance leader. “We are initiating coverage on Burford Capital (BUR US) with a Buy rating and a $18 price target, which implies a +38% upside from the 9/4/24 close.” Deutsche Bank upgrades Hubbell to buy from hold Deutsche said it’s bullish on shares of the utility and electrical solutions company. ” HUBB has the highest power & utility exposure within our coverage universe, at ~64% of sales, positioning the company for MSD-HSD [mid single digits- high single digits] organic growth (we think 7%+ growth is achievable) for the next several years.” Morgan Stanley reiterates Chewy as overweight Morgan Stanley said shares of the online pet company are “compelling.” The firm also said it’s a favorite idea. “We believe CHWY’s forward margin trajectory remains compelling & underestimated.” Daiwa reiterates Nvidia as outperform Daiwa said it’s sticking with the stock following its recent earnings report. “What to do now with the shares? we expect the sell side to remain bullish on Nvidia shares given the material Generative AI opportunity. AI is big and could be bigger than the world changing events of the PC, smartphone, Internet, etc.” Bank of America reiterates Apple as buy Bank of America said its survey checks show App Store revenue is on the rise for Apple. “As per SensorTower data, App Store revenue in F4Q (after 67 days) increased to $5.7bn, with total downloads (iPhone + iPad) +4.9% y/y (6.6bn) during the same period.” Morgan Stanley initiates Trane Technologies as a top pick Morgan Stanley said the heating and cooling company is a high quality stock. “We view Trane as the highest-quality business across US Industrials, offering the most attractive combination of growth and durability (30%+ service), both of which are strengthened by outsized exposure to a number of key industrial mega-trends.” Bank of America reiterates Broadcom as a top pick Bank of America called the stock a “high quality AI franchise” following earnings on Thursday. “We rate Broadcom Buy due to its high-quality diversified exposure to secular product cycles in the smartphone, cloud data center, telecom and enterprise storage markets.” Bank of America downgrades Ciena to neutral from buy Bank of America said in its downgrade of Ciena that it sees too many negatve challenges for the networking company. “We are downgrading our rating from Buy to Neutral and maintaining our $59 PO, based on 20x CY25E P/E, in line with its historical range.” Mizuho upgrades Fortive to outperform from neutral Mizuho said in its upgrade of Fortive that the industrial conglomerate is “too attractive to ignore.” “The evolution of the portfolio has been aggressive and arguably created little value relative to peers as shown by a fairly stagnant and range-bound stock price for most of that time.” JPMorgan downgrades Super Micro to neutral from overweight JPMorgan said it sees too many negative catalysts for Super Micro. “While the latest filings from the company indicate that the company is working diligently to be in compliance with regulatory requirements from a filing perspective and business is continuing as usual otherwise, at the same time it is tough to get more visibility into the timing over which the company will be back in compliance with its filing requirements.” Rosenblatt initiates OneSpan as buy Rosenblatt said the cybersecurity company is well positioned. “We are initiating coverage of OneSpan with a Buy rating and $20 price target because the investment thesis has significantly improved.” Morgan Stanley reiterates Tesla as overweight The firm said it’s sticking with its top pick and overweight rating on Tesla. “Aside from regular qualification, we can’t rule out the upcoming US election and rising geopolitical tension as potentially still critical factors in the rollout of Full Self-Driving (FSD) in China.” Loop reiterates Costco as buy Loop raised its price target on the stock to $975 per share from $970 following its sales report. “Our rating remains Buy on Costco, as we see deflation in price points which is driving traffic to clubs. August traffic grew 7% worldwide and 6% in the US. Mizuho names Micron & Oracle to the top picks list The firm named both stocks to its best ideas list “We see MU well positioned in the AI race with its growing HBM [high bandwidth memory] share. … We have confidence in Oracle’s management team to expand operating margins to 45% by FY26. JPMorgan initiates Archrock as overweight The firm said the natgas company is well positioned. “We initiate coverage of Archrock, Inc. (AROC) with an Overweight rating and a YE25 price target of $24.” Barclays upgrades RadNet to overweight from equal weight Barclays said the radiological company is well positioned for AI. “We believe RDNT has one of the clearest use cases for AI in health care, has a strong first-mover advantage, and possesses distinct advantages to develop and train AI on data from its own radiology business.” Oppenheimer reiterates Live Nation as outperform The firm raised its price target on the stock to $120 per share from $110 following a visit to New York’s Jones Beach Amphitheater. “We are more encouraged in LYV’s Venue Nation unlocking higher earnings power following our recent visit to the refurbished Jones Beach Amphitheater.” Bank of America reiterates ASML holding as buy The firm said it’s sticking with the semis company as a best ideas. ” ASML remains our Top pick in EU Semicaps and we see the recent pull back as particularly enhanced buying opportunity.”