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Thursday's Biggest Analyst Calls: Nvidia, Meta, Tesla, Apple, Cyberark, Grindr, Estee Lauder & More

March 28, 2024
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Here are the notable recommendations from analysts on Wall Street for Thursday:

Wells Fargo maintains Bank of America with an overweight rating and raises its price target to $44 per share from $40. They adjusted their first-quarter earnings per share estimate due to improved performance in capital markets, albeit partially offset by projected FDIC charges.

Bernstein reaffirms Apple with a market perform rating, expressing a more positive outlook on the stock while retaining their market perform rating. They highlight Apple's relative underperformance year-to-date and believe in the resilience of its fundamental business and financial model.

HSBC downgrades Bank of America from buy to hold primarily due to valuation concerns. Despite acknowledging favorable aspects of Bank of America, they point out the stock's significant price appreciation in recent months, limiting potential upside.

Goldman Sachs reiterates Tesla with a neutral rating, acknowledging the company's favorable positioning in the EV and clean energy markets. However, they note that near-term market conditions are impacting earnings negatively.

Piper Sandler initiates SI-Bone with an overweight rating, citing the favorable prospects of the surgical joint treatment company.

Evercore ISI upgrades Kimberly-Clark to outperform from in line following the company's investor day presentation. They find Kimberly-Clark's restructuring plan promising, aiming to enhance profitability and drive growth.

Benchmark maintains Nvidia with a buy rating, emphasizing their preference for markets with strong secular growth trends where consumer risks can be mitigated.

Bank of America reaffirms Amazon with a buy rating, bullish on the company's investments in AI, including a significant investment in the GenAI startup Anthropic.

Bank of America upgrades Estee Lauder from neutral to buy, citing indications of bottomed-out earnings and raising their price objective.

BTIG initiates CyberArk with a buy rating, expressing optimism about the cyber company's prospects.

TD Cowen initiates Grindr with an outperform rating, highlighting its leading position in the LGBTQ+ social dating app market.

William Blair initiates Bentley Systems with an outperform rating, recognizing the company's leadership in providing infrastructure engineering software.

HSBC upgrades Allstate from hold to buy, noting favorable factors aligning for the stock.

Morgan Stanley upgrades Vornado from underweight to equal weight, driven by considerations of elevated leverage within the real estate investment trust sector.

JPMorgan maintains DraftKings with an overweight rating, suggesting investors take advantage of the dip in shares.

JPMorgan reaffirms AbbVie with an overweight rating, considering the biopharma company well positioned for future outperformance.

Citi maintains Boeing with a buy rating, despite lowering its price target, emphasizing the continued robust demand for new aircraft.

KeyBanc maintains Robinhood with an overweight rating, raising its price target based on increased trading activity and net deposits.

Oppenheimer maintains Tesla with a perform rating, acknowledging its leadership in autonomous mobility technology.

Monness Crespi Hardt downgrades Palantir from neutral to sell, primarily due to concerns regarding valuation.

Barclays reaffirms Meta with an overweight rating, expressing optimism about the company's upcoming earnings and its position in the digital advertising market.

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

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