Here are Wednesday’s biggest calls on Wall Street: Loop reiterates Nvidia as a buy The firm said the stock is close to reaching earnings on Wednesday. “While there has been more ‘noise’ across the Gen AI ecosystem recently, our network of work suggests that NVDA’s forecasted demand trajectory remains the same and, in fact, our work has not captured a material change in our broader expectations. ‘ Deutsche Bank Gaming & Leisure Properties to Buy from Hold Deutsche said the real estate investment trust’s stock is “convincing” We are upgrading shares of GLPI to Buy and raising our price target to $54 from $49 that, when coupled.” with the dividend yield, offers credible mid- to high-teens returns with limited downside risk in our view.” Bernstein said the stock is a “crypto-deregulation” trade “We see more upside potential and are raising our target price to $51 from $30.” HOOD has so far managed a crypto business constrained by regulations – with barely 15 tokens listed (over 250 on Coinbase), no income from equity, loans, derivatives or stablecoins – offered by competing exchanges. Pivotal Reiterates Netflix Buy Pivotal raised its price target on Netflix from $1,100 to $925 on the Street. “Post the (mostly) successful Tyson/Paul fight, which was streamed by a massive ~65 million households (and likely over ~150 million viewers), we raised our medium/long term subscriber and ARPU forecasts, along with a modest increase in our terminal EBITDA . multiples led to a $175 increase in our NFLX YE’25 target price to $1,100.” Bank of America again says Walmart buy Bank of America raised its price target to $105 per share from $95 after Tuesday’s earnings. “We see support for WMT’s outlook as broad-based fee gains continue and long-term profitability improves, supported by high-margin digital advertising and 3P Marketplace seller fee growth and improved e-commerce base losses.” Bernstein reiterates that Apple is outperforming. The company said that Apple is the “best idea”. “We see Apple as a quality comp with single-digit revenue growth, improving margins, disciplined return on capital and double-digit EPS growth.” Goldman Sachs buys Microsoft again Goldman said it stands by the stock after the Ignite Conference in Chicago on Tuesday. “We reiterate our Buy rating and $500 PT following Ignite 2024, where Microsoft presented Gen-AI advancements across the technology stack, reinforcing our belief that Microsoft will become the platform of choice as it spends on AI from the Infrastructure layer to the Platform and Application layers “. Piper Sandler Launches AppLovin Piper said the software publisher is an “innovative AI with more room to run.” “We launch APP with an OW rating and a PT of $400. The stock has been appropriately valued following an AI-driven acceleration, but we still see benefit. APP’s technology has driven ad revenue growth well above the market, and We see an opportunity to drive monetization. /minutes higher.” Morgan Stanley Reiterates Adobe Overweight Morgan Stanley said the stock is in a “unique position.” “Limited disclosure has left the Adobe investor story rudderless amid growing competitive pressures and a rapid GenAI innovation cycle. However, broad workflows and deep data sets uniquely position Adobe to capitalize on GenAI, and historically low multiples while marking an attractive risk/reward.” Morgan Stanley upgrades Lemonade to underweight. Morgan Stanley says it is becoming “significantly more bullish” on the insurance stock. “Lemonade outlined an ambitious goal to grow its business from $1 billion in awards to $10 billion in the next few years.” JPMorgan reiterates that it is overweight Amazon. The company said stocking up is the best idea ahead of the holidays. “Amazon maintains a commanding 45% share of US e-commerce and enters the holiday season thanks to early holiday promotions, SD1D (same day) shipping, regionalization, expansion of the Prime ecosystem and competitive pricing (see pricing analysis below). AMZN remains our best idea. continues.” Evercore ISI Adds Dell to List of Beating Tactics The company said it is on the upside ahead of earnings next week. “DELL is well positioned to report consensus Ur-qtr rev/EPS estimates of $24.69M / $2.07, driven by ISG segment strength in storage, general purpose computing and AI server strength.” Bank of America Upgrades Chewy to Underperform Buy In upgrading Bank of America stock, he said trends are stabilizing. “We upgrade Chewy to Underperform to Buy and raise our PO to $40 from $24. Shelters are still taking in more pets on a net basis and YY pet spending is negative, according to UAE credit and debit card data.” Guggenheim Raises SolarEdge to Neutral from Sell Guggenheim said he sees a more balanced risk/reward for the solar company “The decline in SEDG’s share price has pushed the stock closer to our previous $10 target. While we are making some additional revisions to our model, the stock at this time We believe they are fairly valued at approximately 10 times estimated 2026 EBITDA.” Oppenheimer is rated by JPMorgan Chase. Oppenheimer downgraded the banking giant primarily in valuation. “However, we are downgrading JPM to Perform (from Outperform) as the stock now broadly aligns with our fair value model.” JPMorgan adds positive catalyst on EVgo The company said it is more bullish on the electric charging company after a series of investor meetings. “Most investors were eager to better understand EVGO’s unit economies of scale and the implications of potential changes to policy support under Trump 2.0.” Barclays upgrades Newell Brands to overweight from equal weight. The company said it is turning the consumer products company around. “On the contrary, we believe that NWL’s turnaround strategy is in the early days of delivering benefits to the P&L and we expect this to drive share price performance.” JPMorgan raises Energizer to neutral from underweight The company said it is taking a more constructive view on the battery company. “We are upgrading Energizer (ENR) to a neutral rating as we believe the company will have more consistent top-line and bottom-line performance going forward.” Citi has downgraded the target from buy to neutral. The company downgraded the stock after earnings Wednesday morning, saying it is losing share. “We are downgrading TGT from Buy to Neutral. While 3Q may have some unique challenges, we believe TGT’s very poor results in 3Q (and unknown outlook for 4Q) show that TGT is losing share to WMT.” HSBC upgrades Trip.com from hold to buy HSBC revamped travel website after earnings. “Trip.com’s 3Q revenue was largely in line, but OP adj (operating performance) margin hit a post-COVID high of 34.4% on lower marketing spend.” Bernstein launches Cava on the market. The company said the healthy food is “priced like a diamond”. “We believe Cava has the potential to be the ‘next big thing’ in the restaurant industry, having demonstrated the ability to grow SSS by 25% over the past 3 years, doubling its number of stores and proving the concept’s portability by expanding its geographic footprint.” Correction: Bank of America upgraded Chewy to buy from underperform A previous version misstated the bank’s previous rating.
