Here are Thursday's biggest analyst calls: Nvidia, Netflix, Tesla, Citi, Robinhood, Meta, IBM, Broadcom and more
Here are Thursday's biggest calls on Wall Street: Truist initiates Deere as buy Truist said it's extremely bullish on shares of the industrial giant. "In our view, Deere is among the best-run industrial machinery companies with a growing technology story and earnings stream." Bernstein initiates Robinhood as outperform Bernstein said the stock will benefit from a "monster of a crypto cycle over 2024-25." "We are initiating coverage on Robinhood (HOOD) with an Outperform rating (PT $30, 83% upside)." UBS reiterates Tesla as neutral UBS lowered its price target on the stock to $165 per share from $225. "Though we remain cautious on the numbers and the stock near-term, we stay Neutral. While difficult to see a near-term catalyst for EV sentiment to improve, if/when it does we believe investors will look to TSLA for exposure." Evercore ISI reiterates Netflix as outperform Evercore ISI raised its price target on Netflix to $640 per share from $600. "We are reiterating our Outperform rating and modestly raising our FY25 estimates by 2% for Revenue, Op Income, and EPS." Citi downgrades Chubb to neutral from buy Citi said it sees a more balanced risk/reward for the insurance company. "We downgrade CB to Neutral (from Buy) while increasing our PT to $275 (from $238)." Goldman Sachs upgrades Citi to buy from neutral Goldman Sachs said in its upgrade of Citi that shares are "compelling." "Upgrade to Buy (from Neutral): Path to higher returns and compelling valuation support." Wells Fargo upgrades NeuroPace to overweight from equal weight Wells Fargo said it sees upside to estimates for the epilepsy device company. "We are upgrading NPCE to Overweight and increasing our price target from $16 to $20." Bernstein upgrades Instacart to outperform from market perform Bernstein said it still has competitive concerns about the stock, but that it's making a tactical call right now. "We are upgrading Instacart from Market-Perform to Outperform and taking our Price Target up to $43 (+$13)." Berenberg initiates Logitech as buy Berenberg said it's bullish on shares of the computer peripherals company. " Logitech has a strong track record of identifying complementary assets, integrating them into its product portfolio, and then leveraging its platform to drive operational performance and distribute new products to a wider audience through its large sales network." Barclays upgrades Thomson Reuters to overweight from equal weight Barclays said shares of the company are at an "inflection point." "IR [investor relations] day highlights TRI's transformation and approaching inflection point; upgrade to OW." Truist initiates Caterpillar as buy Truist said Caterpillar is a "high quality way to play infrastructure renaissance." "Our thesis on CAT is simple: you can't play infrastructure and energy transition without owning Caterpillar." Morgan Stanley upgrades Williams-Sonoma to equal weight from underweight Morgan Stanley said it sees margins improving for the home goods retailer. "We have underappreciated WSM' s ability to hold its margin even in a weaker demand environment, which drives our upgrade to EW." Citi reiterates Nvidia as buy Citi said after a series of investor meetings that Nvidia is a "most favored name." "We spent the last couple of weeks meeting investors, and it appears the most favored stocks were AI ( NVDA /AMD/AVGO), equipment, and NXP while the most disliked stocks were Micron, equipment (yes both sides), ON, and MCHP." Morgan Stanley reiterates Meta as overweight Morgan Stanley said its recent ad survey checks show Meta is a standout. "Within Internet coverage group, the survey results were most bullish for OW META. Facebook remained the most widely used platform with highest marks for ROI [return on investment]." Daiwa upgrades Goldman Sachs to outperform from neutral Daiwa upgraded the investment bank on an impending recovery. "[We] upped GS from 3 (Neutral) to 2 (Outperform) ahead of recovery investment banking." Wells Fargo upgrades RTX to overweight from equal weight Wells Fargo said it sees "potential upside" for shares of the defense contractor. "Raytheon segment margins likely get a boost from a better mix as programs move into production, really for the first time since its 2020 merger with UTC." Bank of America upgrades Utz to buy from neutral Bank of America said Utz is well-positioned for share gains. "We upgrade shares of pure-play salty snacks manufacturer Utz Brands (UTZ) to Buy (from Neutral) and raise our PO to $22 (from $19), now based on 18x our 2025E EV/EBITDA." Evercore ISI downgrades Under Armour to underperform from in line Evercore ISI said Wednesday's announcement of the company's founder return suggests the turnaround is not taking hold. "Last night, UAA announced that founder Kevin Plank will return as CEO, replacing Stephanie Linnartz (who just joined UAA in February 2023)." Wedbush upgrades Jack in the Box to outperform from neutral Wedbush said it sees upside on the back of the company's Smashed Jack burger. "The SSS [same-store sales] growth upside from the Smashed Jack is the primary driver of EBITDA/EPS upside in our model." JPMorgan upgrades UiPath to overweight from neutral JPMorgan said the robotic software company is entering a period of robust revenue. "We are upgrading UiPath shares to OW from Neutral as we anticipate the period of ARR [annual recurring revenue] growth decel transitioning into a stabilized growth trend while attachment to GenAI automation projects ramps amdist ongoing margin improvement." Bank of America reiterates IBM as buy Bank of America raised its price target on the stock to $220 per share from $200. " IBM repositioned for sustained growth and improving FCF." Bernstein reiterates Nvidia and Broadcom as outperform Bernstein said Nvidia and Broadcom are still top picks at the firm. "We think you should still be in NVDA which remains the best way to play AI, with numbers appear set to continue inflecting higher, and (surprisingly attractive) valuation . And while AVGO's core business is admittedly cyclically weak at the moment a robust AI story is fully bridging it, the 2025 set-up looks good, and VMware seems likely to drive upside." Argus upgrades Oracle to buy from hold Argus said in its upgrade of the stock that it sees cloud revenue growth. "We upgrading Oracle Corp . to BUY to a target price of $145. Fiscal 3Q24 marked the first quarter when rapidly growing cloud revenue crossed over to become a higher proportion of revenue than the company's legacy license support revenue."