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Here are Thursday’s biggest calls on Wall Street: JPMorgan echoes Amazon’s overweight claim. JPMorgan said fears of slower growth are overblown. “Amazon shares are up just 14% over the past 3 years compared to SPX’s 63% rise, and we continue to believe investor sentiment for AMZN is close to multi-year lows.” Baird raises the rating of Choice Hotels to outperform neutrals Baird said the hotel company has protective properties. “Upgrade to Excellence: 2023-24 Earnings Outlook Improves; uncertainty goes into the rearview mirror.” Canaccord upgrades UiPath to buy back shares Canaccord said it was “time to get bullish again” about the robot software company. “Since then, PATH has made significant strides in reorganizing its sales force to better target enterprise and midsize business customers with a high propensity to increase costs. around the bottom of inventories and move forward with the first signs of two significant cost reduction initiatives ($3.7 billion and $4 billion respectively) representing an attractive investment opportunity at current, heavily discounted valuation,” reiterates JPMorgan. Credit Suisse is overweight JPMorgan said it backs the banking giant’s stock: opinion is a critical factor. this will ease some of the market’s concerns about liquidity.” Read more about this call here. Telsey is revamping Foot Locker for Telsey to say next week’s Foot Locker investor day will be a key catalyst for the shoe company’s stock. “We think Monday’s investor day could act as a catalyst for the stock as new CEO Mary Dillon lays out her transformation plan and financial goals.” Susquehanna upgrades Qualcomm and Skyworks rating from neutral to positive Susquehanna said in an update to Qualcomm and Skyworks that it sees the end of the semiconductor cycle. “Updating INTC, QCOM and SWKS as we believe the thorny part of the semiconductor downcycle for mobile phones, PCs and consumer end markets has already passed. Industrial and automotive semi-finished products have yet to be corrected.” Redburn is initiating the Nike sale as Redburn said at the stock launch that it was concerned about disappointing margins. “Nike (new Sell) is an outstanding brand with a high score for excellence, but our work shows that sales are low and margins are higher, disappointing.” JPMorgan Upgrades Motorola Solutions to Overweight from Neutral JPMorgan called the telecommunications equipment company “high quality.” “We are upgrading MSI from Neutral to OW. Stocks are back to pre-publishing levels in the fourth quarter and we will take advantage of the overall market volatility to take a long-term position on these high-quality stocks.” Read more about this call here. Mizuho Raises Block Level to Buy From Neutral Mizuho said the “company’s turn to profitability” is worth the “upgrade to buy.” “Our detailed analysis of fixed and variable costs shows upside potential of up to 30% over 2023 EBITDA SQ guidance, with potential for further margin growth of 400-500 basis points thereafter on the back of fixed cost leverage and variable cost control.” Stifel Adds Thermo Fisher to Favorites Stifel has added the scientific instrument company to its list of most attractive stocks and said its stock is attractive at current levels. “We are adding TMO to the Stifel Select List. As the stock is on track to break a 20x forward P/E ratio for the first time since the start of the pandemic, we see the current levels as very attractive for those with a 12-month view.” Bank of America reiterates that Virgin Galactic shares are lagging. Bank of America said too much risk remains for Virgin Galactic stock “There is still a target for commissioning in Q2 2023, but risks remain” Morgan Stanley echoes Eli Lilly as the overweight Morgan Stanley said, “We look forward to Mounjaro SURMOUNT-2 Ph3 obesity study data in the near future, which is key to allowing LLY to apply for extended obesity labeling.” of Bank of America called Takeda “a value stable stock.” “We are optimistic about continued investment in growth which is a top priority, including the licensing of candidates.” Wells Fargo upgrades HF Sinclair to overweight Wells said HF Sinclair has significant potential if the diversified energy company sells its lubricants business. “We expect DINO to maintain its dividend and share buyback programs, as well as maintain investor confidence.” Wells Fargo upgrades Progressive to overweight Wells said in its double upgrade of the insurance company’s rating that it has protective properties in difficult macroeconomic conditions. “PGR has overcome growth and we think this will drive the stock higher. We also think the market will reward more defensive stocks amid the credit crunch.” KBW confirms that First Republican Bank’s shares have outperformed KBW, saying it supports the regional bank’s shares. “Bloomberg reports that the FRC is weighing its options, including a possible sale or increase in additional liquidity.” Wedbush upgrades On Holding to beat neutral results Wedbush said the footwear maker is attractive. “We believe ONON is one of the most compelling growth stories in our space.”
Credit: www.cnbc.com /
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