Here are Tuesday's biggest analyst calls: Nvidia, Amazon, Oracle, AT&T, Disney, Microsoft and more
Here are Tuesday's biggest calls on Wall Street: Wells Fargo reiterates Goldman Sachs as overweight Wells Fargo said it's standing by its overweight rating on the investment banking giant after Goldman Sachs said it was selling it's personal asset management unit. " Goldman continues to target wealth mgmt for growth, but directly through its higher-end Private Wealth segment." DA Davidson reiterates Amazon as buy DA Davidson said in a note Tuesday that examines events that may negatively affect Amazon shares that antitrust and regulatory issues could intensify. "We believe the walls are closing in on the company when it comes to antitrust/regulation as we consider a Federal Trade Commission (FTC) antitrust lawsuit against Amazon to be imminent." Morgan Stanley downgrades Farfetch to equal weight from overweight Morgan Stanley said it sees limited catalysts ahead for the stock. "We continue to have confidence in FTCH's LT opportunity and see a positively skewed risk/reward... but high volatility, a wider range of potential outcomes, and a limited catalyst path make it difficult to be OW the stock in the medium-term." UBS upgrades Oracle to buy from neutral UBS said Oracle has upside potential. "Our independent checks corroborated the notion that Oracle is benefiting from outsized allocations of Nvidia GPUs [graphic processing unit] relative to its size." Read more about this call here. Citi upgrades Verizon and AT & T to buy from neutral Citi said it sees "signs of stabilization" for the telecommunications stocks. "We are upgrading shares of VZ (target to $40) and T to Buy/High-Risk ratings. The wireless competitive environment is showing positive signs of stabilization that should help operating performance." Read more about this call here. JPMorgan removes Salesforce from the focus list JPMorgan removed Salesforce from its focus list but said it's sticking with its overweight rating ahead of earnings Wednesday. "Bookings Expectations, Pace of Business Still Muted; Technology Vision Trending Up." Wells Fargo upgrades Rockwell Automation to equal weight from underweight Wells Fargo upgraded the stock mainly on valuation. "We're upgrading ROK to EW on F24 earnings growth potential and relative valuation." Bernstein reiterates Airbnb as outperform Bernstein said investors should buy the dip in Airbnb shares. " Airbnb's stock is now down 15% since the 1st of August, and 10% since Q2 results, despite a relatively in line print, raised guidance for ADRs and margin, and many of the bear cases largely discredited in the quarter — we remain highly positive on the long term outlook and see this as a compelling entry point - Outperform." Redburn Atlantic reiterates Disney as sell Redburn Atlantic added the stock to its conviction sell list and says it sees too many negative catalysts. "Despite being a global media company that is home to some of the world's most enduring franchises, Disney continues to face difficulties in the ongoing transition to streaming." UBS reiterates Microsoft as buy UBS said supply chain constraints are manageable for Microsoft. "While Nvidia's print last week offered incremental comfort that it is addressing its supply chain constraints, this remains a risk to Microsoft that investors need to thoroughly assess and measure." Bank of America reiterates Palantir as buy Bank of America said the company is a key AI beneficiary. "Despite some recent pullback in the AI market sentiment, we continue to see Palantir (PLTR) as a key player in the generative AI market." Jefferies names Splunk a top pick Jefferies named Splunk a top pick and says the application technology company is a "double digit growth story." "A new leadership team, an overhaul to the operational strategy and activist involvement should improve investor sentiment; Very compelling valuation." Bank of America upgrades Futu Holdings to buy from underperform Bank of America upgraded the China and Hong Kong wealth management company and says it sees overseas growth. "With China regulations becoming more stable, sentiment and valuation at a trough level, and promising developments in HK and overseas markets, we now turn more positive on Futu. " Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said Nvidia's blowout earnings report last week is positive for the AI supply chain. " NVIDIA issued upbeat October quarter guidance for revenue of US$16bn: That's well above Asia-based investors' expectations at US$13-15bn." Raymond James upgrades NextEra Energy Partners to outperform from market perform Raymond James said investors should buy the dip in shares of NextEra Energy Partners. "Having been on the sidelines year-to-date — and following most of 2022 with an Underperform rating — we are upgrading NEP from Market Perform to Outperform."