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Friday's Biggest Analyst Calls: Apple, Amazon, Tesla, Microsoft, Boeing, First Solar & More

April 12, 2024
minute read

Below are the notable calls made by Wall Street analysts on Friday:

Morgan Stanley: Reiterated an overweight rating for Netflix, with the stock's price target raised to $700 per share from $600. The analyst highlighted Netflix's successful transition from DVD to streaming, its position as the largest studio globally, and effective monetization of password sharing.

BMO: Maintained an outperform rating for Microsoft, with the price target increased to $465 per share from $455. The analyst emphasized Microsoft's strong position in the gaming market, particularly its leading content and scale, which are viewed as competitive advantages.

Wolfe: Upgraded Mobileye to outperform from peer perform, citing the company's competitive advantages in autonomous driving systems.

Morgan Stanley: Reiterated an overweight rating for Starbucks, with the price target lowered to $115 per share from $120. Despite reduced quarterly and yearly estimates below guidance, the analyst maintained confidence in Starbucks' risk/reward potential.

JPMorgan: Downgraded Corteva to neutral from overweight due to lower crop chemical prices, forecasting a slow start for the company in 2024 amidst continued crop chemical de-stocking.

Bank of America: Reiterated a buy rating for Amazon following the release of its shareholder letter, emphasizing the company's performance in an uncertain economy and its building block philosophy.

Piper Sandler: Reiterated an overweight rating for Charles Schwab, highlighting the company's profitability, earnings growth, and attractive free cash flow yield within the Financial sector.

Bank of America: Reiterated a buy rating for Marvell following its AI event, maintaining a $84 price target with a 17% potential upside.

Jefferies: Initiated coverage of Academy Sports as buy, citing the company's attractive valuation and promising private label journey.

UBS: Initiated coverage of Spire as buy with a $68 price target, noting the deeply discounted shares of the energy company.

BTIG: Initiated coverage of Hafnia as buy with a $10 price target, following the company's listing on the NYSE earlier in the week.

Morgan Stanley: Upgraded the energy sector to attractive, citing a slew of positive catalysts ahead.

Rosenblatt: Downgraded Arista Networks to sell from buy, questioning its potential as a beneficiary of the AI data center trend.

Raymond James: Upgraded GitLab to outperform from market perform, citing attractive industry dynamics and significant growth potential.

Mizuho: Upgraded Ecolab to buy from neutral with a price target of $260, driven by increased earnings visibility in the food safety sector.

Citi: Resumed coverage of Cisco with a neutral rating and added a positive catalyst watch, expecting benefits from the Splunk acquisition and growing AI backlog.

UBS: Upgraded DocuSign to neutral from sell, noting that the document-signing company is now fairly valued.

Goldman Sachs: Reiterated a buy rating for Apple ahead of earnings in early May, expecting relatively in-line results for F2Q24.

JPMorgan: Reiterated an overweight rating for Boeing, despite lowering the price target to $210 from $230, cautioning about unclear production prospects.

Janney: Initiated coverage of First Solar with a buy rating, considering the solar company as a beneficiary of a tougher stance on China in trade policy.

BMO: Initiated coverage of Novo Nordisk with an outperform rating, based on optimism surrounding the company's obesity product pipeline.

Citi: Reiterated a neutral rating for Tesla, with a lowered price target of $180 per share, citing near-term demand challenges tied to product age and market saturation.

Editorial Board
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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