Nvidia, Apple, Micron, Amazon, Apollo Global & more

Here are Tuesday’s biggest calls on Wall Street: Stifel initiates GE Healthcare as buy Stifel said it’s bullish on shares of the GE spin-off. “We are initiating coverage of GE Healthcare with a Buy rating and $100 target.” Morgan Stanley names Taiwan Semiconductor a top pick Morgan Stanley reinstated the semis company as a top pick. “We like TSMC’ s quality and defensive nature during an elongated semi downcycle.” JPMorgan initiates Six Flags as underweight JPMorgan said it sees a “challenging theme park industry backdrop.” “We are initiating coverage on Six Flags (FUN) with an Underweight rating and December ’25 price target of $50.” Barclays upgrades Argenx to overweight from equal weight Barclays said it sees a rerating for the biotech company. “Profitable from FY25, peer comparison suggests ARGX’s valuation can rerate.” Rosenblatt reiterates Nvidia as buy Rosenblatt said concerns about delays in the company’s Blackwell chip are overdone. ” NVDA shares are under pressure due to continued rumors of a several-month delay in Blackwell B200 GPUs due to an undisclosed silicon flaw.” JPMorgan adds Royal Caribbean to the focus list The firm said Royal Caribbean is best-in-class. “Remain Overweight adding to JPM’s Analyst Focus List (AFL) as a Growth pick.” JPMorgan downgrades Carlyle Group to neutral from overweight JPMorgan said it sees better value elsewhere. “We are downgrading Carlyle to Neutral. While we continue to see upside to Carlyle’s stock price, we see greater upside elsewhere.” Piper Sandler upgrades Cadence to overweight from neutral Piper said investors should buy the dip in the software company. “We are upgrading Cadence to Overweight ($318 PT) as the recent sell-off presents an attractive entry point in a premier software asset with an enviable position in the semi industry.” Piper Sandler upgrades CrowdStrike to overweight from neutral Piper said buy the dip in CrowdStrike shares. “With shares down sharply for the month, we believe investors should opportunistically build positions at current levels.” Bank of America reiterates Palantir as buy Bank of America said it’s standing by the stock following earnings on Monday. “We see Palantir as a beneficiary of rapidly growing demand for Artificial Intelligence (AI)-platforms in both commercial and government end-markets.” KeyBanc reiterates Micron as overweight Key lowered its price target to $145 per share from $165 but says it’s sticking with the stock. ” Micron has a broad-ranging effort in storage solutions, which could help the Company expand revenue and margins over time.” Bank of America upgrades Apollo Global to buy from neutral Bank of America said it sees a slew of positive catalysts ahead for the asset manager. “We are upgrading Apollo Global Management to Buy from Neutral. 2Q24 earnings results, weak economic data, lower interest rate outlook and hedge fund de-risking drove APO stock down by 21% over 3 days.” Loop reiterates Meta as buy Loop said the stock has “best-in-class growth.” “We are raising our outlook following a solid beat-and-raise 2Q report from Meta last week. We are increasing our PT to $575 from $550 previous on higher EPS estimates and the same target 22X P/E, plus cash.” D.A. Davidson upgrades Criteo to buy from neutral D.A. Davidson said it’s bullish on shares of the marketing tech company. ” CRTO’s Retail Media business, launched in Spring 2020, has grown to become the leading independent player in this high growth part of the broader digital ad ecosystem.” Morgan Stanley removes Amazon as a top pick The firm said it’s sticking with its overweight rating but the company needs to “demonstrate an ability to deliver growth and profitability.” “We remain OW, but remove AMZN as our top pick. Valuation is not demanding now, but in our view AMZN needs to demonstrate an ability to deliver growth and profitability…even as its product mix continues to shift toward lower margin items.” Morgan Stanley reiterates Apple as overweight Morgan Stanley said Monday’s DOJ ruling on Alphabet is a negative for Apple. “Monday’s ruling against GOOGL is likely to impact the $20B+ Apple collects annually from GOOGL, though there was no clarity on potential future remedies/timeline.” Barclays initiates Aspen Aerogels as overweight Barclays said it sees “significant growth” for the energy insulation thermal company. ” ASPN is a unique story that has quickly transformed from traditional oil & gas, as a customer, to energy transition markets through its innovative aerogel products that prevent thermal runaway in lithium batteries in EVs.” JPMorgan upgrades Sonic Automotive to overweight from neutral JPMorgan said investors should buy the dip in the auto company. “We had noted in our recent upgrade to Neutral that SAH has demonstrated the ability to decouple SS [same store] unit growth trends from the broader used car market, and 2Q results + 2H commentary suggested this is likely to continue, and with better than expected unit economics. UBS reiterates Walmart as buy UBS said it’s bullish heading into earnings next week. “We think WMT’s 2Q print and outlook will stand out relative to the rest of retail.” Northland initiates Honest Company as outperform Northland said it’s bullish on shares of the consumer products and health lifestyle company. “We are initiating coverage of The Honest Company with an Outperform Rating and $6.00 PT.” Macquarie upgrades Yum China to outperform from underperform Macquarie said in its double upgrade of Yum China that the China fast food company that it sees “Sales deleveraging offset by strong efficiency.” “Upgrade from Underperform to Outperform as we see robust cost efficiency while high base pressure is lapping out.”