Wall Street’s top analyst calls

Tesla upgraded, Nio downgraded: Wall Street's top analyst calls

Tesla upgraded, Nio downgraded: Wall Road’s prime analyst calls

Essentially the most talked about and market transferring analysis calls round Wall Road are actually in a single place. Listed here are at the moment’s analysis calls that buyers must know, as compiled by The Fly.

High 5 Upgrades: 

  • KGI Securities upgraded Tesla (TSLA) to Outperform from Impartial with a $335 value goal. Tesla is seeing its “huge” U.S. investments in electrical automobile meeting and battery “bear fruit in 2023,” the agency says. (Learn extra)

  • Wolfe Analysis upgraded Oracle (ORCL) to Outperform from Peer Carry out with a $130 value goal. The agency cites the corporate’s accelerating gross sales and earnings development from cloud adoption and synthetic intelligence tailwinds for the improve. (Learn extra)

  • BofA upgraded Carnival (CCL) to Purchase from Impartial with a value goal of $20, up from $11, after having met with all three publicly-traded cruise firms in Miami. The agency got here away from the conferences with extra confidence that {industry} demand stays regular, the pricing surroundings is rational and that reserving curves are according to firm expectations. (Learn extra) JPMorgan additionally upgraded Carnival to Chubby from Impartial with a value goal of $16, up from $11. (Learn extra)

  • Evercore ISI upgraded AutoZone (AZO) to Outperform from In Line with a value goal of $2,700, up from $2,640. The inventory’s 6% value decline for the reason that firm reported fiscal Q3 outcomes presents “a beautiful entry level for an {industry} chief in a well-liked auto aftermarket retail sub sector,” the agency says. (Learn extra)

  • Morgan Stanley upgraded SentinelOne (S) to Chubby from Equal Weight with a value goal of $20, up from $15. Regardless of the corporate’s current missteps, the market is now mispricing the inherent worth of SentinelOne as a long-term share gainer and the potential for significant margin upside, the agency says.
    (Learn extra)

High 5 Downgrades:

  • Nomura downgraded Nio (NIO) to Impartial from Purchase with a value goal of $7.50, down from $25.80, after a special analyst assumed analysis protection of the inventory. The corporate reported lackluster deliveries with an eroding gross margin profile in Q1, the agency notes. (Learn extra) CMB Worldwide additionally downgraded Nio to Maintain from Purchase with a value goal of $8.50, down from $21. (Learn extra)

  • Evercore ISI downgraded Ground & Decor (FND) to In Line from Outperform with a $95 value goal. The agency sees incremental danger to the corporate’s second half of 2023 earnings in a declining house enchancment market. (Learn extra)

  • Morgan Stanley downgraded Invoice (BILL) to Equal Weight from Chubby with an unchanged value goal of $105. The agency says industry-level evaluation on digital card adoption suggests limitations on Invoice’s take-rate enlargement alternative. (Learn extra)

  • Evercore ISI downgraded American Houses 4 Lease (AMH) to In Line from Outperform with a $36 value goal. The shares have materially outperformed friends this yr and the brand new value goal gives restricted upside, the agency says. (Learn extra}

  • Evercore ISI downgraded Nationwide Storage (NSA) to In Line from Outperform with a value goal of $42, down from $49. The corporate’s Q2 replace was weaker than anticipated and raises issues about internet working earnings development in 2024 and past, the agency says. (Learn extra)

High 5 Initiations:

  • Jefferies initiated protection of Saia (SAIA) with a Purchase ranking and $350 value goal. The agency is bullish on Saia’s skill to see above-peer gross sales development and margin positive factors because it improves its community density via ongoing terminal additions and closes the “noticeable value hole” versus friends. (Learn extra)

  • Jefferies initiated protection of Outdated Dominion (ODFL) with a Maintain ranking and $350 value goal. The corporate is “best-in-class” inside transport and logistics, however its premium a number of pretty accounts for this, the agency says. (Learn extra)

  • Jefferies initiated protection of ArcBest (ARCB) with a Purchase ranking and $110 value goal because the agency believes the Road is discounting the corporate’s multi-modal providing. (Learn extra)

  • SVB Securities initiated protection of Oculis (OCS) with an Outperform ranking and $22 value goal. The agency believes OCS-01 has the potential to be the primary eye drop permitted for DME, which remains to be a major unmet want that’s handled with anti-VEGF injections. (Learn extra) H.C. Wainwright additionally initiated protection of Oculis with a Purchase ranking and $28 value goal. (Learn extra)

  • Morgan Stanley resumed protection of Valvoline (VVV) with an Equal Weight ranking and $40 value goal. The agency argues that long-term electrical automobile danger and a full valuation warrant a impartial stance. (Learn extra)

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