Tesla, Apple, Coinbase, Shopify, Pinterest, Nvidia, And More Made Big Analyst Calls On Wednesday

Here are Wednesday's top Wall Street predictions:

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Nvidia is overweight, as Piper Sandler reiterates.

In advance of the stock's earnings report on Wednesday after the bell, Piper expressed optimism.

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“In general, we are optimistic about NVDA's January quarter results and April quarter forecast.”

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Tesla is still rated poorly by Bernstein.

Bernstein expressed its continued skepticism over the potential impact of Tesla's investor day on the stock on March 1.

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"Our assessment is that Tesla's most critical issue is...the state of its next-generation, lower cost vehicle platform moving into its analyst day."

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By upgrading Shopify, DA Davidson enables buy from hold.

Shares of the e-commerce platform for online retailers, according to DA Davidson, have a strong entry opportunity.

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"We are upgrading Shopify shares." to BUY from Neutral because we think the post-earnings selloff of more than 20% has produced a favorable entry position.

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UBS downgrades Logitech from neutral to sell.

UBS stated that it is concerned about the multinational computing company's decreased visibility.

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“We conducted several industry analyses and expert interviews and came to the conclusion that Logitech's environment is becoming progressively more difficult.”

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Dillard's is downgraded by JPMorgan from neutral to underweight.

Following the department store company's results announcement on Tuesday, JPMorgan lowered its rating, adding that it sees a "moderating gross profit profile."

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"DDS on cadence."

Despite "stronger January sales compared to the prior year fourth quarter," management highlighted "weaker sales at the beginning of the quarter and during the Christmas season."

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Coinbase is still listed by Bank of America as underperforming.

Following Tuesday's release of Coinbase's earnings report, Bank of America stated that it believes there are too many risks for the stock.

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"Overall, while OpEx reductions have helped contain losses, the boost from higher rates to interest income is stabilizing the top line (even though it represents lower quality revenue). Given that, we believe COIN enduring significant headwinds (regulatory, competitive, lack of diversity in revenue) that make us wary.

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Citi enhances Alcoa to purchase from a neutral party

Aluminum is the "next leg of the China reopening trade," according to Citi, which upgraded the mining and metals firm.

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"We understand AA's weak FCF but anticipate the stock to perform well as the default exposure to aluminum in North America. We continue to have a bullish long-term outlook, and one of our preferred metal exposures is aluminum.

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Target is reiterated by Oppenheimer as an outperform.

Investors should purchase the dip ahead of Target's earnings report on February 28, according to Oppenheimer.

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“We would be positioned to take advantage of any pullback rather than chasing recent strength because of considerable outperformance year to far and our anticipation for another Street reset.”

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Walmart is one of Oppenheimer's top picks.

Following the release of its earnings report on Tuesday, Oppenheimer declared Walmart a top pick, citing "favorable fundamental views" of the business.

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"With higher grocery share gains, robust momentum from alternative income streams, and more restraint on the capex front, we view the fundamental health of the business as stronger than what we envisioned pre-print."

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Morgan Stanley reiterates the overweight status of Home Depot and Walmart.

Following the release of the company's earnings results on Tuesday, Morgan Stanley stated that it was maintaining their overweight ratings on the shares of Home Depot and Walmart. The company did reduce its $360 price estimate for Home Depot shares to $340 per share. Moreover, Morgan Stanley reduced its $161 price objective for Walmart to $160 per share.

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There are some similarities (wage investments, inventory growth) but more differences (guidance conservatism, tone toward consumers, traffic/ticket) between WMT and HD.

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Loop highlights Buy on Pinterest.

The bullish thesis for Pinterest stock "remains intact," according to Loop.

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"We believe Pinterest is differentiating itself from social media companies that are mostly focused on entertainment,"

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Apple is still considered overweight by Morgan Stanley.

According to Morgan Stanley, large-cap institutional investors continue to undervalue the technological powerhouse.

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"Yet, Apple's underownership spread is among the biggest (behind MSFT) in our large cap technology coverage, reflecting 1) Apple's strong weighting in market indexes and 2) worries about slowing growth as consumers cut back on purchasing for technology goods in the wake of the epidemic."

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Salesforce is still considered overweight by Morgan Stanley.

Prior to the release of the company's earnings report, Morgan Stanley stated that expectations are "low" and "mixed."

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“With the quarter's activist plans in the forefront, the Q4 EPS should shed more light on Salesforce's intended course of action.”

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Occidental Petroleum has been downgraded by Evercore ISI from in line to underperform.

In their downgrade of Occidental, Evercore stated that there are too many potential downsides for the stock.

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“Pref redemption dampens share price growth. Overhang should continue in the short to medium term. crude leverage is not as strong as thought.”

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AIG is downgraded by Atlantic Equities from overweight to neutral.

Due to the insurer's decreasing growth, Atlantic Equities downgraded it.

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“We are reducing our rating on AIG to Neutral in light of the company's sluggish premium growth, persistent Personal P&C concerns, negative operating leverage, recent share price outperformance, and a less favorable valuation.”

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Palo Alto Networks is still a buy, according to Goldman Sachs.

After Palo Alto's earnings report on Tuesday, Goldman said it was maintaining its buy rating on the stock. The bank continued by stating that "cloud and A.I." represent a "breadth of growth drivers."

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“Palo Alto's results and commentary, which include a number of new significant transaction and product cycle disclosures, demonstrate the breadth of its platform.”

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Masimo has been upgraded by Raymond James to outperform from market perform.

In its upgrading of the international medical technology company, Raymond James said that it liked its "optionality."

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“MASI is been upgraded to Outperform. As no other firm in our coverage provides as many avenues for generating additional value, we don't think being neutral is the best position to take. In this scenario, we anticipate forecasts will rise, and the stock will perform better.”

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Meta is reiterated by MoffettNathanson as outperform.

The combination of Meta's plan of "slowing top-line growth and rising expenses," according to Moffett, is intriguing.

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“Yet, there seems to be a growing belief that the surge in CAPEX associated with the appearance of short-form video content driven by AI may begin to level down in the near future, as the business has promised.”

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