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Thursday's Biggest Analyst Calls: NVIDIA, Netflix, Tesla, Citi, Robinhood, Meta, IBM, Broadcom & More

March 14, 2024
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Below are the significant recommendations from Wall Street for Thursday:

Truist recommends initiating Deere as a buy, expressing strong optimism about the industrial giant's prospects. They highlighted Deere's position as one of the best-run industrial machinery companies, emphasizing its growing technology narrative and earnings trajectory.

Bernstein has initiated coverage on Robinhood with an outperform rating, projecting significant benefits from the forthcoming crypto cycle spanning 2024-2025. They set a price target of $30, indicating an 83% upside potential.

UBS maintains a neutral stance on Tesla, albeit with a reduced price target of $165 per share from $225. While expressing caution in the near term, they anticipate potential future positive sentiment shifts towards EVs, where Tesla could offer exposure.

Evercore ISI reiterates an outperform rating on Netflix, elevating their price target to $640 per share from $600. They expect improved performance metrics for the streaming giant in the fiscal year 2025.

Citi downgrades Chubb from buy to neutral, citing a more balanced risk/reward outlook for the insurance company. Despite the downgrade, they raise their price target to $275 from $238.

Goldman Sachs upgrades Citi from neutral to buy, noting compelling attributes in the stock. They highlight a promising trajectory towards higher returns and an appealing valuation, prompting the upgrade.

Wells Fargo upgrades NeuroPace from equal weight to overweight, foreseeing potential upside to earnings estimates for the epilepsy device manufacturer. They also raise the price target from $16 to $20.

Bernstein upgrades Instacart from market perform to outperform, with a new price target of $43, up from $30. While maintaining competitive concerns, they perceive a favorable tactical opportunity at present.

Berenberg initiates Logitech as a buy, expressing bullish sentiments towards the computer peripherals company. They commend Logitech's history of effectively integrating complementary assets into its product portfolio, driving operational performance through its extensive sales network.

Barclays upgrades Thomson Reuters from equal weight to overweight, recognizing an upcoming inflection point for the company. They highlight positive transformation trends observed during investor relations day.

Truist commences coverage on Caterpillar as a buy, describing it as a high-quality investment to capitalize on the infrastructure resurgence.

Morgan Stanley upgrades Williams-Sonoma from underweight to equal weight, expecting improved margins for the home goods retailer despite weaker demand conditions.

Citi reiterates a buy rating on Nvidia, citing positive investor sentiment towards AI-related stocks. They highlight Nvidia as a favored option for exposure to AI, amidst mixed sentiment towards other stocks in the sector.

Morgan Stanley reiterates an overweight rating on Meta, emphasizing its standout performance in recent ad survey checks.

Daiwa upgrades Goldman Sachs from neutral to outperform, anticipating a forthcoming recovery for the investment bank.

Wells Fargo upgrades RTX from equal weight to overweight, predicting potential upside for the defense contractor driven by segment margin improvements.

Bank of America upgrades Utz Brands from neutral to buy, recognizing the company's favorable position for market share gains in the salty snacks segment.

Evercore ISI downgrades Under Armour from in line to underperform, following the announcement of founder Kevin Plank's return as CEO, indicating a lack of confidence in the company's turnaround efforts.

Wedbush upgrades Jack in the Box from neutral to outperform, attributing the upside to the success of the Smashed Jack burger.

JPMorgan upgrades UiPath from neutral to overweight, anticipating robust revenue growth for the robotic software company.

Bank of America reiterates a buy rating on IBM, raising the price target to $220 per share from $200, as they anticipate sustained growth and improving free cash flow.

Bernstein reiterates outperform ratings on Nvidia and Broadcom, highlighting their continued top pick status and promising outlooks.

Argus upgrades Oracle from hold to buy, driven by expectations of robust cloud revenue growth, setting a target price of $145.

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

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