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Friday’s Biggest Analyst Calls: NVIDIA, Zoom, Expedia, Analog Devices, Cava, Roblox, Dick’s & More

November 17, 2023
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Here are Friday’s biggest calls on Wall Street:

Evercore ISI has upgraded Expedia's rating to outperform from in line, citing anticipated "revenue growth acceleration." The firm sees Expedia at a pivotal point with potential revenue growth and EBITDA margin expansion in 2024, not reflected in current estimates.

Evercore ISI downgraded Airbnb from outperform to in line, citing a less compelling risk/reward outlook at the current price level.

Roth MKM downgraded ChargePoint from buy to neutral, expressing concerns about weak demand for charging equipment and anticipating weak F3Q24 results.

Wolfe upgraded Roblox to peer perform from underperform after the company's Investor Day, citing increased confidence in durable bookings growth and margin expansion.

UBS upgraded Pacific Biosciences to buy from neutral, identifying an attractive buying opportunity due to growth potential and a perceived discount in valuation.

Citi reiterated Microsoft as a buy, emphasizing its preference for Microsoft as a megacap name with a durable multi-year product cycle driving sustained top and bottom-line growth.

Barclays downgraded GitLab to equal weight from overweight, citing caution due to a premium valuation and concerns about billings growth.

JPMorgan upgraded Hubbell to overweight from neutral, characterizing it as a "visible GARP (Growth At a Reasonable Price) story" with a relatively visible growth profile.

HSBC initiated Intuitive Surgical as a buy, highlighting the company's "wide moat" as the industry pioneer in surgical robot systems.

Morgan Stanley reiterated Carvana as underweight, noting concerns about high levels of leverage and signs of deteriorating auto credit.

Raymond James initiated Cava as market perform, considering the brand's key differentiators and growth opportunities but offset by a premium valuation.

Citi upgraded Zoom to neutral from sell, citing a more balanced risk/reward outlook with the stock below the target price and near trough multiples.

Redburn Atlantic Equities downgraded Air Products to sell from buy, expressing concerns about slowing growth and ambitious FY24 guidance.

Piper Sandler reiterated Nvidia as overweight, expressing bullish sentiments ahead of earnings and highlighting the positive impact of buybacks.

Morgan Stanley upgraded Analog Devices to overweight from equal weight, anticipating a bottom in the semiconductor company's downturn in 2Q24.

Baird initiated Coherus BioSciences as outperform, citing a broad commercial pipeline positioned for accelerating growth.

Truist initiated Dick's as buy, seeing a compelling buying opportunity for the largest sporting goods retailer in the US.

Truist initiated Lululemon as buy, praising the retailer's strong brand loyalty and direct-to-consumer model.

JPMorgan downgraded Zim Integrated to neutral from overweight, expecting underperformance compared to peers due to high costs related to ship charters.

Piper Sandler initiated Kimberly-Clark as overweight, noting the company's entry into a "new stage" post-Covid with a focus on new offerings and efficiency improvements.

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

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