Here are Wednesday's biggest analyst calls: Amazon, Tesla, Nio, Nvidia, Roblox, Dick's and more
Here are Wednesday's biggest calls on Wall Street: Barclays reiterates Tesla as equal weight Barclays said it's sticking with its equal rating on the stock, but that it's a key player in the electrification space. "While EVs and related services made up 95% of its 2022 revenue, Tesla has supplied over 1.4 terawatts of in-house power electronics across its various businesses." Bernstein names Global Payments a best idea Bernstein said shares of the payment company are "deeply attractive." "Overall, we are increasingly bullish about a long-awaited re-rating of GPN stock, which trades at a deeply attractive valuation of 11x 2024 PE for a MSD-HSD [mid-single digits high-single digits] revenue and teens EPS grower." Mizuho upgrades Chevron to buy from neutral Mizuho said in its upgrade of the oil and gas giant that it sees more value in upstream, which refers to the beginning phases of oil and gas production. "As we update our Energy Investment Framework we see more value in U.S. upstream. Thus, we are upgrading CVX, MTDR and PR to Buy, while downgrading MPC, DINO and MGY to Neutral." Read more about this call here . Goldman Sachs reiterates Amazon as buy Goldman Sachs said the e-commerce giant remains a top idea at the firm. "Overall, Amazon remains our top pick in eCommerce as we see the company being at the beginning of a multi-year narrative of a return to North American pre-pandemic margins and improved operating trends in international markets (over a longer duration timeframe)." Jefferies reiterates Cava as buy Jefferies said it's sticking with its buy rating on shares of Cava after the Mediterranean restaurant's earnings report Tuesday. "Company is executing well on core drivers against its attractive LT algorithm which in the context of a largely conservative 2H view could set up for potential upside near term." Citi downgrades Sea Limited to neutral from buy Citi said in its downgrade of the Singapore-based consumer internet company that investor confidence has been "hammered" in shares of Sea . "We believe investors' confidence has been hammered, and the share price is likely to be range bound." Jefferies reiterates Roblox as buy Jefferies said it's standing by its buy rating on Roblox but that it's lowering its price target to $38 per share from $50. "With 2Q earnings, we got +20% net bookings growth but learned the timing of a margin inflection is ~2 quarters further out than anticipated. It's a bit disappointing, but it doesn't derail the opportunity that should begin to materialize soon." Deutsche Bank reiterates Anheuser-Busch InBev as buy Deutsche Bank said its survey of consumers shows signs of progress for Bud Light. "Our August survey of US consumers implies substantive signs of progress for Bud Light. The proportion of Beer drinkers who are no longer buying the brand reduced 190bps in August vs July (from 21% to 19%)." Barclays reiterates Nvidia as overweight Barclays called Nvidia the "best of the AI Names and our favorite idea heading into earnings next week." " NVDA is our favorite way to invest in the AI theme as they have thus far monopolized the economics of the AI boom, with no clear competitor close behind." KeyBanc reiterates Palo Alto Network as overweight KeyBanc said it's sticking with its overweight rating heading into earnings Friday. "We continue to see PANW as better diversified beyond firewall than peers FTNT and CHKP, a leader in several strategic markets and see Palo as the best positioned consolidator." Goldman Sachs upgrades Brixmor Property Group to buy from neutral Goldman Sachs said in its upgrade of the real estate investment trust that it has "steady earnings growth with multiple upside." "As a result of years of strong leasing spreads, BRX' s in-place portfolio-wide rents are increasing, as are net effective rents. Not only does this help BRX's earnings growth, but we believe higher rents improve investors' perception of BRX's portfolio, which could support a higher multiple." Loop reiterates Jack in the Box as buy Loop said it sees a "very attractive" entry point for the fast-food chain. "We recommend investors take advantage of JACK's recent sell-off, which in our view was unwarranted." UBS upgrades Keurig Dr Pepper to buy from neutral UBS said an "earnings inflection is brewing" for the beverage company. "We are upgrading shares of Keurig Dr Pepper (KDP) to Buy from Neutral with our NTM [next twelve months] price target of $42 (up from $37) representing 26% upside." Read more about this call here. Wells Fargo upgrades GE HealthCare to overweight from equal weight Wells Fargo said shares of the multinational medical technology company are attractive. "Our hospital capex survey is positive for GEHC and we see the company as well positioned to capitalize on the Alzheimer's opportunity. We also see valuation as attractive vs. peers." Read more about this call here. BTIG downgrades Marqeta to sell from neutral BTIG said profitability is under pressure for the payments solutions company. " Marqeta posted good quarterly results during 2Q earnings, but the more important headline was the 4-year contract renewal with Cash App. While the move was applauded by the sell side, the stock has not moved significantly, which we likely attribute to the details of the agreement and the effect on the net take rate, as well as ongoing woes amidst the non-Block revenue streams." Bank of America reiterates Nio as buy Bank of America raised its price target on Nio to $16.20 from $15.40 and said it sees sales momentum continuing. "We reiterate our Buy rating on sequential improvement in product offerings and sales volume." Wedbush reiterates Dick's as outperform Wedbush said it's bullish on shares of Dick's heading into earnings next week. "We believe that sales trends remained solid throughout the quarter despite lapping tougher comparisons particularly in the back half of the quarter from a strong back-to-school season in the prior year period." Morgan Stanley resumes News Corp as overweight Morgan Stanley named News Corp a research tactical idea and says shares of the media company are too attractive to ignore. "We believe the share price will rise in absolute terms over the next 60 days." Imperial Capital upgrades Getty to outperform from in line Imperial Capital said in its upgrade of the images company that it has upside potential. "We believe that Getty is a fundamentally solid company with an industry leading market position and a proven ability to generate free cash flow."