Thursday’s Biggest Calls on Wall Street
Evercore ISI Upgrades Live Nation
Evercore has upgraded Live Nation, a live theater and entertainment company, to outperform from market perform. They believe there is an attractive entry point for Live Nation’s equity due to regulatory overhang, uncertainty about growth in 2024, and upside to near-term estimates.
Bank of America Reiterates Meta as Buy
Bank of America is maintaining its buy rating for Meta following the company’s earnings report. They believe that the resolution of expense uncertainties and growing optimism on AI capabilities can drive renewed enthusiasm for the stock.
Piper Sandler Reiterates Apple as Overweight
Piper Sandler reaffirms its overweight rating on Apple ahead of the company’s earnings announcement. They have reduced their estimates for the December quarter due to challenges in the global phone environment, initial weakness for iPhones in China, and slightly tough comparisons for Mac and iPad.
Goldman Sachs Reiterates ServiceNow as Buy
Goldman Sachs is standing by its buy rating on ServiceNow following the company’s strong earnings report. They view ServiceNow as one of the most compelling investment opportunities in software due to its strategic positioning and significant margin unlock potential.
DA Davidson Upgrades Adobe to Buy
DA Davidson has upgraded Adobe to a buy rating, considering it a “best-in-class” stock. They see Adobe as a long-term, best-in-class company with sustainable competitive advantages.
KeyBanc Downgrades Thermo Fisher
KeyBanc has downgraded Thermo Fisher to sector weight from overweight due to lower growth expectations compared to peers. They have released a revised earnings model reflecting this change.
Oppenheimer Upgrades Adobe to Outperform
Oppenheimer has upgraded Adobe to an outperform rating based on a favorable outlook. They anticipate strengthening business momentum, positive fundamental trends, and Adobe’s top position in software for the generative AI opportunity.
HSBC Upgrades Microsoft to Buy
HSBC has upgraded Microsoft to a buy rating, citing an attractive valuation. They made this decision following stronger-than-expected first quarter results and an improved outlook.
Bank of America Downgrades F5 Networks
Bank of America has downgraded F5 Networks to underperform from neutral, expecting muted revenue growth compared to the company’s peers. They believe F5’s stock may continue to underperform their coverage universe.
Cantor Fitzgerald Initiates Rocket Lab as Buy
Cantor Fitzgerald has initiated coverage of Rocket Lab with a buy rating. They highlight Rocket Lab’s proven and successful launch track record in developing and launching orbital rockets.
Citi Reiterates Endeavor as Buy
Citi suggests that Endeavor, an entertainment company, should consider going private. This recommendation follows Endeavor releasing an 8K filing indicating a review of strategic alternatives and Silver Lake’s consideration of taking Endeavor private.
Bank of America Initiates Paycom as Buy
Bank of America has initiated coverage of Paycom with a buy rating. They are bullish on the fast growth potential of this payroll and human resources company.
Piper Sandler Reiterates Amazon as Overweight
Piper Sandler believes that Microsoft and Alphabet’s earnings reports bode well for Amazon’s upcoming quarterly report. They suggest that the impact of this information has already been partially absorbed by the market.
Redburn Atlantic Equities Reiterates Disney as Sell
Redburn Atlantic Equities maintains its sell recommendation for Disney, stating that estimates remain too high and there are too many challenges for the company.
Jefferies Downgrades Bath & Body Works
Jefferies has downgraded Bath & Body Works to a hold rating, anticipating slowing growth. Their data across social, foot traffic, and market share suggests a deceleration of trends for the company.
Northland Upgrades Nextracker to Outperform
Northland has upgraded Nextracker to an outperform rating following the solar tracker solutions company’s robust earnings report. They expect the stock to rise further based on fundamentals and the settling of merger arbitrage bets.
Thursday’s Biggest Calls on Wall Street
Evercore ISI Upgrades Live Nation
Evercore has upgraded Live Nation, a live theater and entertainment company, to outperform from market perform. They believe there is an attractive entry point for Live Nation’s equity due to regulatory overhang, uncertainty about growth in 2024, and upside to near-term estimates.
Bank of America Reiterates Meta as Buy
Bank of America is maintaining its buy rating for Meta following the company’s earnings report. They believe that the resolution of expense uncertainties and growing optimism on AI capabilities can drive renewed enthusiasm for the stock.
Piper Sandler Reiterates Apple as Overweight
Piper Sandler reaffirms its overweight rating on Apple ahead of the company’s earnings announcement. They have reduced their estimates for the December quarter due to challenges in the global phone environment, initial weakness for iPhones in China, and slightly tough comparisons for Mac and iPad.
Goldman Sachs Reiterates ServiceNow as Buy
Goldman Sachs is standing by its buy rating on ServiceNow following the company’s strong earnings report. They view ServiceNow as one of the most compelling investment opportunities in software due to its strategic positioning and significant margin unlock potential.
DA Davidson Upgrades Adobe to Buy
DA Davidson has upgraded Adobe to a buy rating, considering it a “best-in-class” stock. They see Adobe as a long-term, best-in-class company with sustainable competitive advantages.
KeyBanc Downgrades Thermo Fisher
KeyBanc has downgraded Thermo Fisher to sector weight from overweight due to lower growth expectations compared to peers. They have released a revised earnings model reflecting this change.
Oppenheimer Upgrades Adobe to Outperform
Oppenheimer has upgraded Adobe to an outperform rating based on a favorable outlook. They anticipate strengthening business momentum, positive fundamental trends, and Adobe’s top position in software for the generative AI opportunity.
HSBC Upgrades Microsoft to Buy
HSBC has upgraded Microsoft to a buy rating, citing an attractive valuation. They made this decision following stronger-than-expected first quarter results and an improved outlook.
Bank of America Downgrades F5 Networks
Bank of America has downgraded F5 Networks to underperform from neutral, expecting muted revenue growth compared to the company’s peers. They believe F5’s stock may continue to underperform their coverage universe.
Cantor Fitzgerald Initiates Rocket Lab as Buy
Cantor Fitzgerald has initiated coverage of Rocket Lab with a buy rating. They highlight Rocket Lab’s proven and successful launch track record in developing and launching orbital rockets.
Citi Reiterates Endeavor as Buy
Citi suggests that Endeavor, an entertainment company, should consider going private. This recommendation follows Endeavor releasing an 8K filing indicating a review of strategic alternatives and Silver Lake’s consideration of taking Endeavor private.
Bank of America Initiates Paycom as Buy
Bank of America has initiated coverage of Paycom with a buy rating. They are bullish on the fast growth potential of this payroll and human resources company.
Piper Sandler Reiterates Amazon as Overweight
Piper Sandler believes that Microsoft and Alphabet’s earnings reports bode well for Amazon’s upcoming quarterly report. They suggest that the impact of this information has already been partially absorbed by the market.
Redburn Atlantic Equities Reiterates Disney as Sell
Redburn Atlantic Equities maintains its sell recommendation for Disney, stating that estimates remain too high and there are too many challenges for the company.
Jefferies Downgrades Bath & Body Works
Jefferies has downgraded Bath & Body Works to a hold rating, anticipating slowing growth. Their data across social, foot traffic, and market share suggests a deceleration of trends for the company.
Northland Upgrades Nextracker to Outperform
Northland has upgraded Nextracker to an outperform rating following the solar tracker solutions company’s robust earnings report. They expect the stock to rise further based on fundamentals and the settling of merger arbitrage bets.