Apple, Tesla, Target, Goldman Sachs, Meta, Fedex & More Made Big Analyst Calls On Thursday

The following are the top Wall Street calls for Thursday:

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Tesla is still rated poorly by Bernstein.

Tesla stock, according to Bernstein, is still overpriced.

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"2023 has served as a reminder of how challenging TSLA is to call in the near term, but we feel that in the long term, valuation counts, and the company is trading above our fair value price of $150/share," the authors write.

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Hilton is now upgraded by Barclays to overweight from equal weight.

The hotel business has been accused by Barclays of undervaluing its "growth possibilities."

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We change our preference to HLT because of its undervalued net unit growth potential in the face of a slowing macro environment.

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Etsy is downgraded by Jefferies from buy to underperform.

According to Jefferies, a sluggish top line and moderate margin expansion have a negative impact on the consensus.

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"Buyers are leaving ETSY sooner and paying less, driving up marketing costs and straining EBITDA,"

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Spotify is still considered overweight by Atlantic Equities.

Spotify, according to Atlantic Equities, offers "best-in-class" music streaming.

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Promoting artists who are not signed to labels is a crucial strategy for increasing profits in Spotify's music business, which is still subject to a two-thirds payout to music firms.

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Tesla is still considered overweight by Morgan Stanley.

Tesla's cybertruck is currently a "side-show," according to Morgan Stanley.

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Since Franz von Holzhausen fired a metal ball through the Cybertruck's "Armor Glass" window in November 2019, a lot has changed. We had a lot of fun last week behind the Austin plant with the real truck. Financially speaking, though, the Tesla tale may be more of a "side-show" right now.

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UBS starts the purchase of Marathon Petroleum

The oil corporation is referred to as a "cash machine" by UBS.

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"We start out with a Buy rating and a $165/shr target price. MPC has paid out $19.3 billion in dividends to stockholders over the last two years, the most of all independent refiners (backed by the funds from the sale of Speedway).

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UBS starts a buy on Phillips 66.

Phillips 66 is referred to as a "diversified refiner with expanding midstream footprint" by UBS.

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"Cash return to shareholders is competitive, and between 2023E and 2026E, we anticipate PSX returning around $18.8B to shareholders."

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Target is still a buy, according to Jefferies

According to Jefferies, Target has "substantial upside potential" in the future.

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"Of the Value Retail firms we cover, TGT has the most potential for margin recapture in 2023, according to company-provided guidance."

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Costco continues to outperform, according to Bernstein

The large box retailer is viewed as a "dependable deliverer" of growth, according to Bernstein.

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Costco, which we continue to view as a consistently dependable provider of EPS growth in the low teens.

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Sysco is once again a purchase option at Bank of America

According to Bank of America, the food distributor's stock has a "compelling margin recovery" story.

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"Although SYY's margin recovery has taken longer than anticipated, we see a promising trajectory for EBIT high profitability in F2H and beyond as SYY focuses on increasing productivity and supply chain efficiency," the report states.

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Goldman Sachs is still a buy, according to Bank of America.

The investment bank, according to Bank of America, is "best-in-class."

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"We reiterate Buy," saying that we think GS is one of the top financial franchises in the world at relatively low valuations (1.15 P/Book and 9 P/E for 2024).

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Taiwan Semiconductor is still a buy, according to Bank of America

The semiconductor business, according to Bank of America, "has tremendous AI potential."

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Due to the expanding and growing uses of large language models (LLMs) and generative AI, spearheaded by ChatGPT, Taiwan Semiconductor Manufacturing Co. is a significant benefit and one of our top 20 global AI stock choices.

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Apple is still rated as outperform by Evercore ISI.

Evercore claimed that worries regarding sluggish iPhone growth are exaggerated.

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Contrary to market fears, we believe Apple is well-positioned to increase iPhone unit sales in CY23 and beyond, supported by a number of tailwinds.

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Wells Fargo reiterates the overweight status of Signature Bank.

The commercial bank, according to Wells, is the "last man standing" at the crypto bar.

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With SI ceasing operations, "the crypto environment for banks just got lonelier. Although SBNY has set its own limits on cryptocurrency deposits, the exit may provide them some pricing power. We prefer SBNY since it is diverse and has a low TBV.

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Evercore ISI continues to rank Meta as a top choice.

Evercore said that it still loves the business concept of Meta and dubbed it a top selection.

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"META is unmistakably taking steps to trim a cost structure that may have gotten out of control after Covid. According to our research, enhanced ad attribution is aiding in the recovery of more ad dollars, and It is making good progress toward closing the monetization gap.

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Oppenheimer affirms that Meta should outperform.

Oppenheimer stated that it stands by its Meta outperform rating.

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On the basis of higher advertising forecasts and the fact that investments in AI are starting to lead to better targeting, we are raising our objective to $235 (from $220).

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FedEx is still a buy, according to Goldman Sachs.

The shipping behemoth is in a strong position going into its earnings next week, according to Goldman.

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FDX is well prepared to capitalize on eventual sales volume and drive it over their relatively expensive Fixed-Cost Express network in order to enhance margin as it has done in prior cycles, even though there is still near-term risk. Should the economy indeed begin a hollowing process over 1H2023, we continue to believe this.

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Rivian remains a buy, says Mizuho

The electric vehicle company's price objective was cut by Mizuho, but the brokerage firm maintained its support for Rivian shares.

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Lowered estimates/PT to $35 (formerly $37) with greater interest expense and probable dilution, maintaining Buy.

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Eli Lilly is still deemed overweight by JPM.

The company claimed to see an appealing entry point for the pharmaceutical company's shares.

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Overall, we believe that the LLY tale is proceeding as planned, and LLY continues to be one of our favorite group names.