Here are Friday's biggest analyst calls: Nvidia, Apple, Netflix, Broadcom, Disney, AMD, Coinbase, GE & more
Here are Friday's biggest calls on Wall Street: Oppenheimer downgrades Figs to perform from outperform Oppenheimer said it sees too many challenges for the surgical wear company. "We remain constructive upon longer term prospects for FIGS and the company's shares. That said, nearer-term, we are increasingly concerned that internal and external challenges, which have impacted trends at the company lately, are likely to persist, longer than initially anticipated." D.A. Davidson upgrades MongoDB to buy from hold DA upgraded the stock following earnings on Thursday. "We are upgrading shares of MDB from Neutral to BUY & are raising our PT from $405 to $430. Citi reiterates Apple as buy Citi lowered its price target on the stock to $220 per share from $225 but said it's sticking with Apple. "Maintain buy on structural gross margin expansion due to premiumization supported by AI smartphones and services growth." Barclays initiates Western Alliance as overweight Barclays said the regional bank is one of the best positioned in the firm's coverage. "The names we believe are best positioned within our coverage include WAL, EWBC, and WBS, which each have ample capital, strong credit, and stable funding." JPMorgan upgrades General Electric to overweight from neutral JPMorgan said GE is a "premier" name. "Looking ahead, it is clear that GE is the premier large cap name in Comml Aero with regard to 1) the business, 2) where that business is in the cycle, 3) the balance sheet.." JPMorgan upgrades Kinetic to overweight from neutral JPMorgan said the midstream operator is a "high quality business." "Overall, we upgrade KNTK to OW given attractive growth visibility." Goldman Sachs upgrades Coinbase to neutral from sell Goldman upgraded the stock as crypto prices are surging. "We are upgrading shares of COIN to Neutral from Sell, as crypto prices have surged to all time highs, and COIN daily volumes have reached levels not seen since 2021." Evercore ISI reiterates Alphabet as outperform Evercore said the stock is a new top pick at the firm. "Meanwhile, GOOGL's tech & data assets are clearly among the strongest in the world. And along with negative sentiment on GOOGL shares and cautious management commentary ('larger base') has come seemingly conservative Street estimates." Wells Fargo reiterates Disney as overweight Wells says the stock is "best-positioned" in the ad market. "We see DIS best-positioned and WBD most at-risk." Bank of America downgrades Victoria's Secret to underperform from buy Bank of America double downgraded Victoria's Secret due to too many negative catalysts. "We see risk to F24 sales guidance, as it assumes the broader lingerie market will stabilize in 2H after declining MSD [ mid single digits ] in 1H, as well as the impact of initiatives in sport and technology materializing." Morgan Stanley upgrades UBS to overweight from equal weight Morgan Stanley said in its upgrade of UBS that the "stars are aligned." "Short-term cyclical, long-term structural upside." Wolfe upgrades Gates to outperform from peer perform Wolfe said in its upgrade of Gates that it sees margin expansion for the power transmission company. "We see significant multiple expansion potential driven by growth recovery and better margin/FCF execution." UBS initiates AST SpaceMobile UBS said the space satellite company is well positioned. " AST is pre-revenue, but we believe it will be a leader in the emerging space- to-cellular broadband market - an industry with the potential to generate $10s of billions in annual revenue by providing uninterrupted coverage to traditional mobile devices." Morgan Stanley initiates enGene as overweight Morgan Stanley said in its initiation of enGene that it's a leader in bladder cancer therapy. "We initiate at Overweight with a $40 PT." Bank of America downgrades Petrobras to neutral from buy Bank of America said it's concerned about the lack of dividends for the Brazilian oil company. "In our view, the decision to not announce extraordinary dividends tonight heightens the risk perception at PBR and also suggests that the company could be pivoting to an agenda more focused on growth (leading to higher capex and M & A)." Bank of America reiterates Marvell as buy Bank of America said it's sticking with shares of Marvell following earnings on Thursday. "Legacy under pressure but AI well on track, reiterate Buy." JPMorgan reiterates SentinelOne as overweight JPMorgan added a positive catalyst watch on the cyber security company heading into earnings next week. "We expect strong 4Q results with constructive initial FY25 guidance from SentinelOne when the company reports earnings next week." Piper Sandler reiterates Microsoft as overweight Piper added the stock to its triple select list of top picks. " MSFT is a top ranked stock in the Macro Select model because it possesses the quality fundamental characteristics that typically outperform in similar economic backdrops." Goldman Sachs reiterates Broadcom as buy Goldman said investors should buy the dip in shares of Broadcom . "Although the market may have been looking for a positive revision in management's FY2024 outlook and, as a result, the stock may correct in the near-term, we would recommend investors to use any stock price weakness as an opportunity to add to positions, particularly with the company's robust competitive position in AI and its ability to extract better growth and margins in Software intact." Barclays reiterates Netflix as equal weight Barclays said streaming consolidation is poised to be a bigger win for YouTube than Netflix. "In the case of premium entertainment streaming, as distribution has shifted from being bundled to unbundled subscriptions and consumption has become atomized due to device and service fragmentation, value attribution for each service becomes more explicit." JPMorgan upgrades Teva to neutral from underweight JPMorgan said it sees a "favorable catalyst path" for the pharmaceutical company. "Along these lines, we are taking a more balanced approach to our ratings (which have been negatively skewed) and are moving TEVA from UW to N." Craig-Hallum upgrades Smith & Wesson to buy from hold Hallum said in its upgrade of the gun maker that it has "momentum" into the election cycle. "SWBI continues its deft execution and is entering the election cycle in an optimal position, with lean channel inventory, strong demand tailwinds and improving operating leverage." Bank of America upgrades Textron to buy from neutral Bank of America said in its upgrade of the biz jet company that the stock is undervalued. "Textron has been one of our better performing large caps YTD, up 12.31% (vs. S & P 500 +8.17%). However, concerns around Industrials, falling bizjet demand, and poor defense sentiment have peaked, translating into a multiple that is roughly one standard deviation below the historical averag Bank of America downgrades Vail to neutral from buy Bank of America said the setup looks too challenging for the ski and mountain resort company. "We are downgrading shares of Vail Resorts to Neutral from Buy. We see the setup as more challenging from here given 1) risk to FY24 guidance as visitation remains weak, 2) risk to FY25 estimates as MTN's Y/Y organic growth is slower than anticipated..." Deutsche Bank initiates Li Auto as buy Deutsche said the China auto company is a top pick. " Li Auto i s the largest 6 / 7 seater vehicles manufacturer in China with a 13.8% market share in 2023, which is the sweet spot of the automobile electrification mega-trend in China." RBC upgrades Carvana to sector perform from underperform RBC said the risk/reward is improving for Carvana shares. "We believe 1) any return to more meaningful unit growth will likely get fully if not overly extrapolated in the stock with additional amplification possible from the heavy short interest, 2) the company's cash generation/car may be better than many investors realize." Melius reiterates Advanced Micro Devices and Nvidia as buy Melius said it doesn't see Advanced Micro Devices having any impact on Nvidia's momentum but that it likes both stocks. Melius also called AMD a "Nvidia-Mini" and Melius raised its price target on the stock to $265 per share from $192. "However, we don't believe AMD will have an adverse impact on Nvidia's momentum as the TAM is larger and Nvidia is the industry's driving force."