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Thursday’s Biggest Analyst Calls: Nvidia, Apple, Broadcom, Micron, Goldman Sachs, Carvana, Arista & More

June 27, 2024
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Here are Thursday’s top recommendations on Wall Street:

Goldman Sachs Reiterates Micron as Buy
Goldman Sachs advises investors to buy Micron stock after its earnings report on Wednesday. "Despite the year-to-date outperformance and heightened market expectations, we see the stock's recent dip as a buying opportunity," Goldman stated.

Bernstein Reiterates Apple as Outperform
Bernstein maintains its outperform rating on Apple. "In the near term, we believe enthusiasm will persist, as Apple is increasingly viewed as a leader in AI rather than a laggard. Additionally, the stock is entering its seasonally strong trading period," Bernstein commented.

Bank of America Upgrades Petrobras to Buy from Neutral
Bank of America upgrades Petrobras, citing positive catalysts for the Brazilian oil and gas company. "With the new CEO in place, there have been important developments at Petrobras, easing concerns about corporate governance, fuel pricing, and dividends," the bank noted.

Mizuho Initiates Grab Holdings as Buy
Mizuho begins coverage of Grab Holdings with a buy rating. "Grab has a significant on-demand market presence," Mizuho stated, setting a price target of $5 per share.

KBW Upgrades Bank of New York Mellon to Outperform from Market Perform
KBW becomes more bullish on Bank of New York Mellon. "We are upgrading to outperform due to BNY Mellon's scale, diversification, and strong expense control, which should widen its profitability gap with peers," KBW explained.

Deutsche Bank Adds a Catalyst Call Buy on Emerson Electric
Deutsche Bank is optimistic about Emerson Electric's upcoming earnings report. "Investor expectations are not overly optimistic, and we believe Emerson can deliver a significant third-quarter beat," Deutsche Bank said.

Jefferies Reiterates Nvidia, Marvell, and Broadcom as Buy
Jefferies maintains buy ratings for Nvidia, Marvell, and Broadcom. "Nvidia remains the leader, but Broadcom is also compelling. We see opportunities at Marvell, though the story hasn't peaked yet," Jefferies observed.

KeyBanc Initiates Crescent Energy as Overweight
KeyBanc begins coverage of Crescent Energy with an overweight rating. "Crescent Energy is emerging as a significant consolidator in South Texas," KeyBanc stated.

Citi Reiterates Arista Networks as Buy
Citi raises its price target for Arista Networks to $385 from $330. "Arista is likely to benefit from early AI opportunities," Citi remarked.

TD Cowen Reiterates Grindr as Buy
TD Cowen raises its price target for Grindr to $14 from $12. "Grindr increased their 2024 topline guidance and set 2027 revenue and EBITDA targets 27% and 22% above our estimates," TD Cowen noted.

Morgan Stanley Initiates Viking Therapeutics as Overweight
Morgan Stanley starts coverage of Viking Therapeutics with an overweight rating. "We see best-in-class potential for VK2735 in obesity, supporting a significant market opportunity," Morgan Stanley stated.

Morgan Stanley Adds Goldman Sachs to its “Financials’ Finest” List
Morgan Stanley includes Goldman Sachs in its top financial ideas list. "Goldman Sachs, along with Macquarie and TPG, are added as top plays for a capital markets recovery," Morgan Stanley commented.

JPMorgan Downgrades US Bancorp to Neutral from Overweight
JPMorgan downgrades US Bancorp, citing limited near-term catalysts. "The sharp increase in capital requirements adds a headwind and delays capital return plans. We don't see a medium-term catalyst," JPMorgan explained.

Morgan Stanley Reiterates Coca-Cola as Overweight
Morgan Stanley maintains its overweight rating on Coca-Cola. "Coca-Cola's fundamentals are increasingly favorable compared to the group, making it a strong overweight choice," Morgan Stanley noted.

UBS Reiterates Disney as Buy
UBS emphasizes Disney's cruise operations as an underappreciated growth driver. "Disney commands top market pricing in the cruise industry, benefiting from post-pandemic demand resurgence," UBS stated.

Oppenheimer Initiates Kyndryl as Outperform
Oppenheimer begins coverage of Kyndryl with an outperform rating. "Formerly IBM's IT services business, Kyndryl is the world's largest IT infrastructure services provider," Oppenheimer commented.

JPMorgan Reiterates Carvana as Overweight
JPMorgan maintains its overweight rating on Carvana. "Carvana's infrastructure moat continues to widen, strengthening our above-consensus EBITDA conviction," JPMorgan stated.

Citi Reiterates AT&T as Buy
Citi keeps its buy rating on AT&T, citing it as a top pick among large-cap telecommunications companies. "AT&T has multiple levers to manage financial performance at an attractive valuation," Citi noted.

Truist Reiterates Nvidia as Buy
Truist raises its price target for Nvidia to $140 from $128.80. "Nvidia is now the top market cap company, and we believe it can achieve even greater heights," Truist stated.

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

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