Monday’s biggest analyst calls like Nvidia
Here are Monday’s biggest calls on Wall Street: Oppenheimer reiterates Netflix as outperform Oppenheimer said the Jake Paul-Mike Tyson fight “demonstrates [the] ability for meaningful” live event viewership for Netflix. “While the press will focus on the technical bandwidth issues and customer complaints, our guess is that viewing was likely ~2x internal expectations, a high quality problem than can be easily fixed by Christmas Day.” Citi initiates Astera Labs as by Citi said it’s bullish on the AI/Cloud infrastructure company.” “We initiate coverage of ALAB with a Buy rating and $120 target price.” Goldman Sachs initiates Ingram Micro as buy Goldman said the IT solutions provider is well positioned. “We initiate coverage of Ingram Micro (INGM) with a Buy rating and a 12-month target price of $33.” Goldman Sachs initiates Gatx as buy Goldman said it’s bullish on the railcar company. “We initiate coverage of GATX Corporation with a Buy rating and $185 12-month price target.” RBC initiates TechnipFMC as buy RBC said the oil and gas company is well positioned for shareholder returns. “TechnipFMC’s ability to convert its record $14.7bn backlog into profitability and grow shareholder returns underpins the company’s strong medium-term outlook.” UBS initiates Franco-Nevada and Wheaton Precious Metals a buy The firm said it’s bullish on the metals companies. “We initiate coverage with Buys on WPM & FNV as we think they offer lower risk, more reliable leverage to gold price upside and organic growth.” HSBC upgrades Moderna to buy from hold HSBC said the biotech company is undervalued. “We think there is a good opportunity for Moderna’s pipeline to support the back-to-growth story and view it as currently undervalued.” Baird upgrades Roku to outperform from neutral Baird said in its upgrade of Roku that it sees an “attractive long-term opportunity.” ” ROKU is down 25% YTD vs. S & P 500 +23%. Historically, we have been hesitant regarding the company’s execution in a rapidly evolving streaming landscape – but we now think shares are overlooking the meaningful changes in the business and the attractive long-term opportunity.” Morgan Stanley upgrades Futu to overweight from equal weight Morgan Stanley said it’s bullish on the Asia brokerage and wealth management company. “We upgrade Futu to OW – we view the recent correction as a good entry point for its long-term growth potential from overseas franchise expansion.” UBS upgrades Air Products to buy from neutral UBS said it sees a rerating for the air product and chemical company. “We upgrade APD stock to Buy. We lift our FY25/26 adj EPS and are now 1%/5% above consensus.” Raymond James upgrades Hewlett Packard Enterprise to strong buy from outperform Raymond James said in its upgrade of the stock that it sees an “expanding multiple and server growth.” “We upgrade HP Enterprise to Strong Buy from Outperform. We have refined our model to break out AI platforms and traditional servers, and this leads us to increase our FY25 sales estimates.” Goldman Sachs downgrades Redfin to sell from neutral Goldman said in its downgrade of the online real estate company that it sees rising competition. “We downgrade Redfin ( RDFN) to Sell from Neutral with a new 12-month target price of $6.50 (v. $6.00 prior).” Wells Fargo upgrades CVS to overweight from equal weight Wells said the “aggressive growth strategies” have “likely peaked.” “We are upgrading CVS to Overweight from Equal Weight and increasing our PT to $66. We believe the negative consequences of aggressive growth strategies at Aetna have likely peaked and create a compelling investment opportunity.” Needham downgrades Biogen to hold from buy Needham said it sees a lack of upside for the stock. “We are stepping to the sidelines as we do not see a meaningful source of upside for BIIB over the next 12 months.” Bank of America reiterates Nvidia as buy The firm said it’s sticking with the stock heading into earnings later this week. ” NVDA reports on Wed with sell-side consensus for FQ3/FQ4 sales at $33.2bn/$37bn, though as usual bullish investors’ expectations likely at least a $1bn+ higher at $34bn/$38-$40bn for FQ3 and FQ4.” Bank of America reiterates Alphabet as buy The firm said it’s bullish on Alphabet search in 2025. “We expect an eventful year for search in 2025, with new competition, remedy ruling in DOJ case, and Google capitalizing on new AI overview format (better results, more ads). For the last three months, Google’s US search share has increased, and the global rollout suggests Google is seeing a positive impact on search share.” BMO upgrades Bright Horizons to outperform from market perform BMO said in its upgrade of the day care company that it sees margin expansion. “We upgrade BFAM to Outperform from Market Perform. The stock has been weak since 3Q24 earnings, while beating expectations, management cited slightly slowing top-line growth which could impede margin expansion.” Loop upgrades Monolithic Power to buy from hold Loop said in its upgrade of Monolithic that investors should buy the dip in the power company. “We are taking the opportunity to up our rating to Buy from Hold. Our PT remains $660.” Needham upgrades Robin Hood to buy from hold Needham said the stock is a beneficiary of the Trump election. “We are upgrading HOOD to a Buy as Donald Trump’s election win stands to materially benefit the company, primarily via changes at the SEC.” Bernstein reiterates Tesla as underperform The firm said the EV automaker is full-self driving beneficiary under a Trump administration but it’s sticking with its underperform rating. “Trump is anti-EVs, but TSLA is on a tear. Tesla’s stock is up 28% since Trump’s election victory, despite the fact that the new administration will likely end IRA consumer and battery manufacturing tax credits, potentially lower emissions standards and could increase tariffs on Chinese batteries.”
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