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Monday’s Biggest Analyst Calls: Apple, Amazon, Oracle, Eli Lilly, Airbnb, Meta, Southwest & More

November 13, 2023
minute read

Here are the significant Wall Street recommendations for Monday:

UBS has downgraded International Flavors from buy to neutral, citing a projected deceleration in the flavors company's recovery due to slower market rebound and reduced price/cost benefits compared to previous assumptions.

Barclays has reiterated Apple as equal weight, expressing concerns about the iPhone 15 cycle, characterizing it as a suboptimal phase marked by demand weakness and extended replacement cycles.

Piper Sandler upgraded Health Catalyst to overweight from neutral following strong 3Q23 results that surpassed guidance in both revenues and adjusted EBITDA.

Stifel upgraded CrowdStrike from hold to buy, anticipating positive catalysts that will contribute to sustained low-to-mid 20% growth and operating margin/FCF expansion in the coming years.

KBW upgraded Axis Capital Holdings from market perform to outperform, citing a bullish outlook for the risk transfer company after its 3Q23 earnings report.

Bernstein upgraded TripAdvisor to outperform from market perform, emphasizing the potential for cash generation and raising the price target based on revised estimates and other positive factors.

Bernstein named Airbnb a top pick, anticipating a strong 2024 for the online travel company with expectations of accelerated top-line growth and increased ancillary revenues.

BTIG initiated Gitlab as a buy, highlighting the development ops software company's favorable position in the rapidly growing DevSecOps target market.

Raymond James upgraded Guardant Health to outperform from market perform, recommending investors to buy the dip in shares following a 22% decline since earnings.

Raymond James upgraded Natera to strong buy from outperform, noting the resolution of bear concerns and identifying the DNA testing company as poised for significant outperformance.

Citi upgraded Hewlett Packard from neutral to buy, citing positive momentum in the PC market and anticipating improved revenue growth driven by AI integration in outer years.

Jefferies initiated PepsiCo as a buy, considering it a defensive stock with the potential for high-single-digit or better earnings growth in the next three years.

Jefferies initiated Procter & Gamble as a buy, positioning it as a top and bottom-line growth leader with expectations of continued peer-leading growth over the next four years.

Jefferies initiated Constellation Brands as a buy, foreseeing a long runway for growth for the beer company despite a stable stock price.

Jefferies initiated Monster as a buy, identifying it as a growth story with strong core energy, significant international opportunities, and untapped growth vectors.

Jefferies initiated Colgate-Palmolive as a buy, citing a "reinvigorated" brand lineup and projecting a +16% upside in shares in the next 12 months.

Morgan Stanley initiated Mirum Pharmaceuticals as overweight, recognizing it as a "leader" in rare liver disease with multiple catalysts ahead.

Edward Jones upgraded Oracle from hold to buy, stating that the current share price does not adequately reflect the company's improved sales outlook.

Citi initiated Olin as a buy, seeing an attractive buying opportunity for the chemical company given its market position, production cost advantage, and expected long-term demand growth.

Citi reiterated buy ratings for Amazon and Meta, emphasizing the potential for incremental sales during the holiday shopping season through their partnership in Social Commerce.

Truist initiated Cintas as a buy, projecting margin upside driven by a return to normalized pricing increases and moderating input costs.

Citi reiterated Eli Lilly as a buy, expressing optimism following the presentation of Novo's GLP-1 Wegovy data and anticipating positive developments for Lilly.

Melius downgraded Southwest from hold to sell, criticizing the airline's strategy as ineffective and emphasizing the importance of returning to the simplicity that made it successful in the past.

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

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