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Here are Tuesday’s biggest calls on Wall Street: Northcoast ups Costco’s rating to stock up Northcoast said it sees more opportunities for the wholesale retailer. “Costco’s Q2 2023 (ended Feb. 12) results of $3.30 per share beat expectations and set the stage for a strong second half of fiscal year 2023 despite high inflation concerns and the reluctance of many consumers to buy discretionary items.” Goldman Sachs initiates purchase of Arista Networks and Juniper Goldman has initiated several network equipment promotions, noting that they have an attractive value. “We are beginning to cover US communications technology stocks, including Arista Networks (ANET, buy), Juniper Networks (JNPR, buy), Cisco Systems (CSCO, neutral) and F5 Networks (FFIV, neutral).” Read more about this call here. UBS confirms Apple as UBS said its receipts show app store revenue has not changed. “We estimate that two months into the March quarter, Apple’s app store revenue growth remains solid at just ~31 basis points year-on-year (Sensor Tower), a modest improvement from a ~68 basis point year-over-year decline. calculation in the fourth quarter: 22″. Deutsche Bank downgrades Joby to sell on hold Deutsche said it sees too many risks for the airline company. “We are downgrading Joby from Hold to Sell in the belief that the market is missing important risks and Joby’s premium valuation is too uneven compared to its Archer counterpart.” Read more about this call here. UBS reiterates its purchase of BJ as UBS said it was optimistic about BJ’s earnings later this week. “We expect BJ’s to report strong results in Q4. We think BJ’s is likely to end the year on a positive note.” Wells Fargo confirms that Bank of America is overweight. The banking giant has “technical advantages,” according to Wells. “Technological advantages should help BAC deliver the best possible revenue distribution over spending growth in 2023, leading to additional Consumer Bank profits.” Goldman Sachs is repeating its Amazon purchase as Goldman said the e-commerce giant is now the best bet. AMZN (now our top pick for the remainder of 2023 from current trading levels) with debate focused on a potential slowdown in AWS, the path to North American e-commerce operating margins, the global health of the AMZN consumer, and any visibility in international e-commerce of the loss trajectory in coming years.” Baird initiates the bluebird biography as bluebird biotechnology will exceed Baird’s expectations. “Moving forward, management appears poised to launch Lococel into the sickle cell market, which represents a big opportunity for orphan diseases, at the end of 2023.” Credit Suisse launches Mineralys Therapeutics Credit Suisse has named a biopharmaceutical company that develops drugs for hypertension best in class. “We are launching Mineralys Therapeutics (MLYS) coverage with a ‘best-of-market’ rating and a price target of $40.” Read more about this call here. Evercore ISI Initiates Tactical Dominance at Vivid Seats Evercore said it is bullish on the ticketing company, which is turning a profit on Tuesday. “We are adding SEAT to our Tactical OP list ahead of publication. We don’t see significant risk to Street’s current valuations, and SEAT shares are down 9% year-to-date and about 18% since the EPS announcement in the third quarter in November.” Morgan Stanley Initiates Hesai Group Due to Overweight Morgan Stanley said the lidar solutions company is “a tool for an autonomous future.” “Hesai, a leader in LiDAR solutions, should benefit from accelerating LiDAR adoption in China amid growing penetration of smart electric vehicles, in our view, even though it is in its infancy.” Morgan Stanley confirms Walmart is overweight Morgan Stanley said it is backing Walmart’s stock as the retail giant continues to sign new members to its Walmart+. “The latest survey points to ~18.5M Walmart+ members (~14.5% penetration), another modest step up. TAM has grown to almost 30M members, a record of ~3.5M, which suggests further growth.” Loop echoes the claim about Netflix as Loop said its surveys show that charging for password sharing increases Netflix’s revenue. “We conducted a survey of over 500 local Netflix users to assess the impact of charging Netflix to share passwords. Charging fees for sharing passwords and limiting the number of shared accounts purposefully increases ARPU, revenue, and customer churn.” Jeffries confirms Oracle’s view of the purchase. Jeffreys said he sees more tailwinds than headwinds for Oracle stock. “ORCL remains our tactical choice in large-cap software.” Canaccord initiates Perrigo as Canaccord said it is bullish on the OTC health maker. “We are beginning to reach Perrigo, a health products company specializing in the sale of personal care products, including OTC. PRGO mainly sells private labels in the US and branded products in Europe.” Atlantic Equities reiterates Charles Schwab as overweight Atlantic Equities said it sees 30 percent upside from growth initiatives for the financial services company. “We believe that the significant upside potential associated with Schwab’s growth initiatives remains an undervalued market.” Argus Upgrades DraftKings Prior to Buyout Argus said it is bullish on the betting company as more states legalize gambling. “As more states legalize online sports betting and consumers allocate the majority of their income to betting, we expect DKNG to grow to $3.1 billion in revenue in 2023 from $323 million in 2019.” Evercore ISI raises Delta’s rating to surpass it in the queue Evercore said it sees several positive catalysts for Delta and that investors should buy the dip. “The recent ratification of the pilot contract reduces the uncertainty of Delta’s cost forecasts compared to peers. An investor day scheduled for June at its Atlanta headquarters is a good opportunity to refine financial targets and segments such as Tech Ops.”
Credit: www.cnbc.com /
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