Here are Wednesday's biggest analyst calls: Tesla, Amazon, Alphabet, Meta, UPS, Tyson, Disney, SoFi & more
Here are the biggest calls on Wall Street on Wednesday: Needham initiates SoFi at buy Needham says the financial company has the "right mix of growth and profits." "We are initiating coverage of SoFi Technologies (SOFI) with a BUY rating and a $10 price target." Baird initiates Informatica at overweight Baird said the software company has an attractive valuation. "From its foundation as a legacy data integration leader prior to 2015, INFA has emerged as a leader in cloud data management, and we believe should be positioned to help organizations prepare their data for generative AI use cases." Piper Sandler initiates Ecolab at overweight Piper said the water treatment company has upside. "We are initiating coverage of Ecolab Inc. ( ECL) with an OW rating and a 12-month PT of $260." KBW initiates Robinhood at market perform KBW initiated the brokerage stock and says its valuation is full right now. "Weighing Robinhood's Compelling New Product Roadmap Against a Now More Demanding Stock Price / Valuation." Citi upgrades Hologic to buy from neutral Citi said in its upgrade of Hologic that the diagnostic company is on a "significant" recovery trajectory. "We view the current FY24 outlook as conservative, which should be viewed positively by investors, in our opinion, as it is not reliant on a significant market recovery in the second half of the year." DA Davidson initiates Zeta Global at buy DA says the software company is misunderstood. "We believe ZETA i s currently trading at an unwarranted discount to other sales and marketing peers given revenue model and value proposition misconceptions." Goldman Sachs initiates Carlisle Companies at buy Goldman said it's bullish on shares of the building materials maker. "We believe Carlisle is well positioned to benefit from the macro, industry and company-specific dynamics over the next several years, contributing to above average growth relative to global peers and our building products coverage." Raymond James upgrades Jones Lang LaSalle to strong buy from outperform Raymond James says it's getting bullish on shares of the real estate management company. "We are upgrading Jones Lang LaSalle to Strong Buy from Outperform to reflect what we view to be an attractive valuation and robust momentum within its property and facilities management businesses." Deutsche Bank adds a catalyst call buy on Eaton Deutsche said it sees a short term buy idea on the stock as electrical orders rise. "We realize that ETN outperformed the group materially in 2023 and this has continued YTD." Raymond James upgrades Fluence to outperform from market perform Raymond James said it sees "margin upside" for the energy storage company. "Upgrading Fluence Energy (FLNC) from Market Perform to Outperform, following substantial multiple compression, and with room to post margin upside surprises as services and software revenue ramps up." KBW reiterates Coinbase as market perform KBW raised its price target on Coinbase to $230 per share from $160. "As a result of higher revenue and Adjusted EBITDA estimates, we are raising our price target to $230 from $160 previously, and maintaining our MP rating." Wells Fargo reiterates Meta as overweight Wells lowered its price target on Meta to $600 per share from $609, but says ad growth checks look strong. "Believe market increasingly looking to the next product cycle catalyst (like Reels in '23) to drive future ad growth outperformance vs. industry." Wells Fargo downgrades Wolfspeed to equal weight from overweight Wells downgraded the stock due to weaker demand for silicon carbide products. "The pure exposure WOLF has to the SiC [silicon carbide] mkt & the lack of profitability also make WOLF unique in this downgrade call." Wells Fargo reiterates Alphabet as equal weight Wells lowered its price target on Alphabet to $141 per share from $144. "All eyes on search performance in a pivotal quarter for the forward growth and search ad share narrative. Argus downgrades PepsiCo to hold from buy Argus downgraded PepsiCo due to concern about price hikes. "Downgrading to HOLD. Price hikes are likely to cause revenue growth to slow as consumers choose dining out over meals at home." JPMorgan downgrades Ally Financial to underweight from neutral JPMorgan said it sees too many headwinds for the financial services company. " ALLY – Downgrade to UW (from N) as valuation run-up limits further upside and headwinds persist (although lessening)." Citi adds a positive catalyst watch on Tyson Foods Citi said it's bullish on Tyson heading into earnings in May. "We think an EPS beat and guidance boost are likely when the company reports fiscal 2Q24 (March) results in early May, aided by a favorable industry environment, especially for its chicken and pork processing businesses." Redburn Atlantic Equities upgrades UPS to buy from neutral Redburn said it sees margins improving for UPS. "We upgrade to Buy and, due to upgrading our FY25 EPS and using a higher multiple to reflect improving sentiment and margins, we increase our PT to $180." Barclays reiterates Amazon as overweight Barclays says it's sticking with its overweight rating on the stock. "The Amazon story continues to be one of: 1) GMV [gross merchandise value] share gains across most geos and categories, owing to the prime member growth and flywheel and a higher mix of nondiscretionary; 2) improving cost-to-serve." Guggenheim reiterates Disney as buy Guggenheim raised its price target on the stock to $140 per share from $125. " Disney hosts its annual shareholder meeting today with the results of the well-covered proxy battle for board seats likely to be revealed by early afternoon." Deutsche Bank reiterates Tesla as buy Deutsche lowered its price target on the stock to $189 per share from $200 but says it's sticking with the stock. "Yesterday's relatively moderate negative reaction to Tesla's considerable Q1 deliveries miss, may, in our view, reflect investors' increased understanding of the near-term challenges for the company as it wrestles with EV slowdown and competition against its aging vehicle lineup, before the arrival of its next-gen platform." B Riley initiates Booking Holdings as buy B Riley says it's bullish on shares of the travel website. "We are initiating coverage of Booking Holdings, Inc . with a Buy rating and a 12-month price target of $4,400 per share." Gordon Haskett downgrades Costco to accumulate from buy Gordon Haskett downgraded several retailers on Wednesday and says it's "waving a yellow flag" on the rally. "Ranking Our Coverage Universe; Downgrading = FIVE, COST, DLTR, & LOW; Waving a Yellow Flag Post YTD Rally." Northland upgrades WisdomTree to outperform from market perform Northland says it sees growth accelerating for the financial services company. "We believe WT's growth is accelerating as higher fee funds take center stage and optionality exists with WT Prime and tokenization."