Apple downgraded, Oracle upgraded: Top Wall Street analyst calls
The hottest and market moving research calls around Wall Street are now in one place. Here are today’s research calls that investors need to know, as compiled by The Fly.
Top 5 Upgrades:
Goldman Sachs Upgraded Oracle (ORCL) to Neutral from Sell with a price target of $75 to $120, following the company’s “solid” fiscal Q4 report. The results and Q1 guidance addressed concerns focused primarily on rising capex requirements to sustain growth in Gen2 OCI, while also reducing gross margin, and the loss of “imbalanced” market share in Oracle’s core database business. Done less, says the firm. (Read more)
Loop Capital Upgraded upside down beauty (ULTA) A buy to hold with a price target of $490 to $520. The company’s luxury brand expansion represents a multi-year comparable sales growth driver, while Ulta Beauty’s continued rollout into Target (TGT) shop-in-shops will drive incremental revenue as well as Ultimate Rewards membership growth, the firm argues. Is. (Read more)
Morgan Stanley upgraded urban Outfitters (URBN) from equal weight to overweight with a price target of $27 to $41 as part of a broader research note on Specialty Retail. The firm says the stock is among the names with “sufficiently risk-averse” FY23 estimates and “fair or undervalued”. (Read more)
Goldman Sachs Upgraded Devon Energy (DVN) is a Buy from neutral with a price target of $58, below $63. The firm believes Devon’s valuation is “becoming more compelling” and sees the potential to drive down well costs as a function of lower raw material costs. It sees “mean reversion” in stocks. (Read more)
piper sandler upgraded assuring (AIZ) to Overweight from Neutral with an unchanged price target of $144. The firm says the stock’s valuation provides an attractive entry point because the business-to-business nature of the company’s business profile leaves it less exposed to “the whims of the individual consumer.” (Read more)
Top 5 Downgrades:
downgraded by ubs Apple (AAPL) Neutral from Buy with a higher price target above $180 to $190. The firm sees “persistent softness” in developed markets for Apple, while citing data indicating growth is likely to remain under pressure. (Read more)
atlantic equity downgrade paypal (PYPL) from Overweight to Neutral with a $72 price target. The firm sees “no quick fix” for PayPal’s branded market share or transaction margin. (Read more)
Jefferies downgraded global payment (GPN) Buy to Hold with a price target of $105 from below $140 once coverage is restored after the ban period. While the firm believes the downside is limited, noting that the stock’s valuation is “close to trough levels”, it struggles to see what a re-rating entails in the near term. (Read more)
Morgan Stanley downgraded Capri Holdings (CPRI) from overweight to equal weight with a price target of $40, down from $55, as part of a broader research note on Specialty Retail. (Read more)
Goldman Sachs downgraded EOG Resource (EOG) from Buy to Neutral with a price target of $130, below $137. The firm cites the stock’s relative outperformance and valuations following lower free cash flow generation expectations for the downgrade. (Read more)
Top 5 Initiatives:
the canaccord roblox (RBLX) with a Buy rating and $48 price target. Shares have been volatile since the company went public in early 2021 as investors grapple with a fair valuation for a business that has experienced “large fluctuations in its growth rates and margins.” The firm sees potential for an upward estimate revision if Roblox can execute on strategic initiatives to attract more spending on the platform as well as a longer-term opportunity to enter new verticals. (Read more)
by redburn Applied Materials (AMAT) with a neutral rating. The firm says hybrid bonding offers a low-risk, low-cost contribution to the compute performance demanded by artificial intelligence of the future, but the financial impact for Applied Materials will be small relative to BE Semiconductor. (Read more)
BOFA started coverage Peakstone Realty Trust (PKST) with an Underperform rating and a $27 price target. The firm says the company’s office exposure and high leverage support an underperform rating. (Read more)
Oppenheimer began coverage of Crane NXT (CXT) with an outperform rating and a $70 price target. The firm believes that Crane NXT represents an “interesting investment opportunity”. (Read more)
Evercore ISI launches coverage 89bio (ETNB) with an outperform rating and a $49 price target. The firm says 89bio trades at a 60% discount to peer Akero Therapeutics (AKRO), which has a similar drug candidate in a similar stage of development, presenting “a compelling arbitrage opportunity for investors with a long-term view.” Is. (Read more)
Source: finance.yahoo.com
