Listed here are Friday’s largest calls on Wall Avenue: CFRA upgrades Seagate to purchase from maintain CFRA upgraded Seagate after its earnings report and mentioned it sees a cloud demand restoration. “Despite macro concerns, we see IT hardware budgets recovering off lows on secular growth drivers. Initial signs of cloud stabilization provide optimism, but broader demand recovery is still gradual given economic uncertainty.” Oppenheimer reiterates Apple as outperform Oppenheimer mentioned it is bullish on Apple’s future in gaming. “We believe Apple management is committing to building Apple hardware as the best HD gaming platform.” Financial institution of America reiterates Alphabet as purchase Financial institution of America raised its worth goal on the inventory to $175 per share from $166. “We see Alphabet as well positioned long term with leading AI technology to apply to search, YouTube and Cloud businesses. Bank of America reiterates Apple as buy Bank of America said it’s standing by its buy rating Apple. “We preserve our Purchase score on Apple given constructive estimate revisions, margin growth and development in Companies. Apple was lately added to the US1 Checklist at BofA. JPMorgan reiterates Tesla as underweight JPMorgan lowered its worth goal on the inventory to $130 per share from $135 after the corporate’s earnings report on Wednesday. ” Tesla profit expectations have fallen, but even after Thursdays sell-off, the stock to us seems in comparison to have hardly noticed, suggesting plenty of further downside potential.” TD Cowen upgrades American Airways to outperform from market carry out TD mentioned shares of the airways are getting its “mojo” again. “We are upgrading shares of American Airlines Group to Outperform and increasing our PT to $21.” UBS downgrades Humana to impartial from purchase UBS mentioned in its downgrade of the medical insurance firm that Humana shares are too unstable proper now. “Given the volatility in the company’s near-term results and management’s own commentary suggesting an extended time frame for recovery to normalized margins, we believe the shares will tend to trade at a mid-teens forward multiple from here.” Needham downgrades Intel to carry from purchase Needham mentioned it sees too many challenges forward for Intel after its earnings report on Thursday. “We are downgrading INTC shares to Hold following an unexpected EPS reset, GM headwinds and challenges still faced in the core data center segment.” Oppenheimer upgrades Coinbase to outperform from carry out Oppenheimer mentioned it sees a number of catalysts forward for the crypto firm. “We are upgrading COIN from Perform to Outperform, and initiating a PT of $160. Our upgrade is based on our thesis that 1) either COIN will prevail in SEC lawsuit or the court will dismiss it; 2) Spot Bitcoin ETF is a net positive.” Deutsche Financial institution upgrades Snap to purchase from maintain Deutsche mentioned shares are undervalued. “We are upgrading SNAP to Buy from Hold. We see a clear, strong catalyst path towards upwards revenue and EBITDA revisions supported by: a) Snapchat+ creating incremental revenue, b) the ad platform rebuild yielding strong performance results and driving growing advertiser adoption.” Oppenheimer upgrades Bread Monetary to outperform from carry out Oppenheimer mentioned the inventory is “undervalued.” “We usually stay away from transition stories during tough economic times, but BFH’s valuation and near-rightsized capital metrics are very enticing.” JPMorgan downgrades Dow to impartial from obese JPMorgan mentioned in its downgrade of the chemical firm that it sees “constrained” money movement. ” Dow’s cash flow is ample to fund current cash requirements, but is constrained to do more than that.” Financial institution of America reiterates Amazon as purchase Financial institution of America mentioned Amazon is “well positioned.” “With drivers for AWS acceleration and margin upside in place, we think the stock is well positioned into 2024 at just 2.4x 2025E P/S, near the middle of its historical range of 0.8-4.0x since 2010.” Piper Sandler downgrades US Bancorp to impartial from obese Piper downgraded the inventory primarily on valuation. “However, we are lowering our rating on USB from OW to Neutral. We still think extraordinarily highly of this company. But with last year’s capital-related idiosyncrasies having worked themselves out well, and with the shares at a premium to peers, we see fewer company-specific catalysts to cause the stock to outperform peers.” UBS downgrades Archer-Daniels Midland to impartial from purchase UBS mentioned in its downgrade of Archer-Daniels Midland that margins are degrading. “We are downgrading to Neutral with Price Target of $51/shr (no upside). We see downside to street earnings driven by 1) No growth in Nutrition segment; 2) Soy crush driving Yoy Decline in Crush earnings.” RBC downgrades Northrop Grumman to sector carry out from outperform RBC downgraded the inventory after its earnings earnings and says upside is restricted. “We are downgrading our recommendation on NOC from Outperform to Sector Perform, and we are lowering our price target to $450.” Goldman Sachs upgrades Asur to purchase from promote Goldman mentioned in its improve of Asur that the Mexico airport firm is a “structural growth story.” “We upgrade the stock to Buy as we believe it offers: i) a structural growth story with a challenging short term at least partly priced in; ii) undemanding valuation on our estimates (stocks are currently ~30% below the multiple implied by the correlation with 10y rates in Mexico).” Goldman Sachs reiterates Jabil as purchase Goldman reinstated protection of the electronics firm with a purchase and says it sees “reduced volatility” for Jabil. “Rising exposure to fast growing and more profitable end markets; Reinstate at Buy.” Wedbush reiterates Tesla as outperform Wedbush mentioned it is standing by Tesla, however eliminated the inventory from its greatest concepts record. “We are removing TSLA from the Wedbush Best Ideas List (BIL) due to our investment price discipline. Evercore ISI reiterates Pinterest as outperform Evercore said it’s standing by its outperform rating on the stock after a “collection of channel checks.” “We’re materially elevating estimates and our PT (from $45 to $50) on PINS and reiterating our Outperform (our #1 SMiD Cap Lengthy) within the wake of our proprietary monitoring and evaluation of its Amazon partnership and a collection of channel checks.”
