Here are Thursday’s biggest calls on Wall Street: Goldman Sachs reiterates Nvidia as a buy. The company raised its price target on the stock to $165 per share after earnings from $150. “We reiterate our Buy rating on NVDA (which is also on the US Sanctions List) and highlight a rich catalyst going forward.” Morgan Stanley launches UMB Financial Morgan Stanley said as an overweight commercial bank has a “differentiated deposit base.” “We see UMBF as one of the best lower rate players among Midcap Banks.” Rosenblatt Upgrades Palo Alto Networks to Buy from Neutral The company upgraded the stock on Wednesday following Palo Alto’s earnings. “The company delivered another strong quarterly performance, driven by the successful execution of its platform strategy.” William Blair has downgraded Ulta from market perform. William Blair said he sees a “long recovery category” for Ulta’s stock. “We are downgrading Ulta’s stock to Market Perform from Outperform. Our downgrade on analyst day, Oct. 16, comes as a result of a sharp reset in expectations. 2025 consensus and operating margin still appear optimistic and instill hope. Early 2025 turnaround in the beauty category, and we hardly think so.” Goldman Sachs Downgrades XPeng from Buy to Neutral Goldman downgrades China’s EV company primarily in valuation. “With the launch of at least four new models in 2025, we continue to see strong volume growth of 81% for XPeng. On the other hand, we remain cautious about competitiveness through 2025, especially in the first quarter. Price reductions have increased historically.” Wells Fargo Launches GE Vernova Wells said it sees “AI power surge” in electricity and renewables company stocks. “AI is the main beneficiary of GEV’s projected LT growth driven by data center construction, the U.S. recovery and electrification trends.” Bank of America reiterated its buy Netflix raised its price target on Bank of America stock to $1,000 per share from $800. “Last weekend, 60 million households (65 million peak simulcasts; 108 million overall viewers from opening to closing) watched the Jake Paul vs. Mike Tyson boxing match on Netflix.” Morgan Stanley Reiterates Dell Overweight. The company said it is sticking with Dell ahead of earnings next week. “We like this story for 2025 and would therefore be a buyer of post-earnings weakness, staying OW at $154 PT.” Citi Upgrades DT Energy to Buy from Neutral Citi said the natural gas pipeline company has growth “at par.” “Additionally, DTM is now >$10 million in market cap, which should attract the attention of a broader investor base, including international investors.” Goldman Sachs reiterated Chevron as Goldman raised its price target on the stock to $170 per share from $167. “For Chevron, we reiterate our constructive view on the stock, where we see a total return of ~10% to our updated PT of $170/sh.” Barclays upgrades Royal Bank of Canada to overweight from equal weight Barclays said it likes the Canadian bank’s “diverse scale and business model.” “RY We are upgrading to Overweight from Equal Weight.” Goldman Sachs has launched Merus Therapeutics, which Goldman said said the biotech company has “best-in-class potential.” “We are initiating coverage of MRUS (Merus NV) with a Buy rating and a 12-month target price of $73.” Goldman Sachs has reiterated Snowflake as a buy. The firm said it likes the company’s “strong execution” after Wednesday’s earnings. “We reiterate our Buy rating and $220 price target on Snowflake (on the conviction list) following impressive F3Q results, which increase our belief that the company can sustain mid-2020s revenue growth on a $4B revenue scale, at 25% While offering FCF margins…” Bank of America reiterates Tesla as Bank of America acquires, he said the stock is best positioned for next year. “Tesla is well-positioned for growth in 2025 based on recent earnings call comments, including production volume growth of 20-30% year-on-year, production start of Cybercab, launch of public ride…haling app, shipment of batteries from Shanghai factory and Further advances in FSD (full self-driving) capabilities.” JPMorgan Reiterates Palo Alto Networks Overweight The company said after Wednesday’s earnings that it is sticking with Palo Alto. “Platform progress with healthy results for what is typically a softer seasonal quarter.” Bank of America TJX Companies reiterated buy Bank of America shares are “earnings resistant” after Wednesday’s earnings. “Despite the adverse effects of the weather, TJX delivered comps in the driving core (+3%), driven by increased traffic across all banners.” Goldman Sachs has reiterated its bullish position on Salesforce as Goldman said it is still holding Salesforce shares. “We reiterate our Buy rating and raise our PT to $360 (up from $325) following the Agentforce World Tour, where conversations with partners and customers left us more confident in the execution of Salesforce’s AI strategy.”
