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Tuesday’s Biggest Analyst Calls: Nvidia, Meta, Dell, Amazon, Apple, Crowdstrike, Netflix, Airbnb & More

May 28, 2024
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Tuesday's Top Calls on Wall Street

Melius Reiterates Nvidia as a BuyMelius reaffirmed its buy rating on Nvidia, emphasizing that the shares still hold substantial value. The firm remains optimistic about Nvidia's potential, seeing the stock as a strong investment opportunity.

Truist Upgrades ON Holding to BuyTruist upgraded the shoe company ON Holding from hold to buy, citing significant growth opportunities across various regions, channels, and categories. The firm believes ON Holding is well-positioned for meaningful expansion.

Truist Upgrades Deckers to BuyTruist also upgraded Deckers, another shoe company, from hold to buy. The firm noted the company's best-in-class momentum and ample growth opportunities, which provide long-term upside potential for investors.

Mizuho Upgrades Parker-Hannifin to BuyMizuho upgraded Parker-Hannifin from neutral to buy, raising its price target from $550 to $650. The upgrade follows an investor event that increased Mizuho's confidence in the manufacturing conglomerate's long-term earnings trajectory.

Argus Downgrades Southwest to HoldArgus downgraded Southwest Airlines from buy to hold, pointing to several negative catalysts. High employee costs and delayed aircraft deliveries are expected to prolong the airline's recovery.

UBS Upgrades Globant to BuyUBS upgraded IT and software development company Globant from neutral to buy, noting a stabilization in demand. The firm adjusted its price target slightly down to $230 from $240.

JPMorgan Upgrades Futu to OverweightJPMorgan upgraded Futu Holdings, an Asian brokerage and wealth management company, from neutral to overweight. The firm highlighted strong client growth, asset flow, and transaction volume as key factors driving further upside potential for Futu.

Wedbush Upgrades Airbnb to OutperformWedbush upgraded Airbnb from neutral to outperform, advising investors to buy the dip. Despite disappointing second-quarter guidance, Wedbush sees potential upside due to positive travel data and considers the guidance conservative.

Bank of America Initiates Viking as BuyBank of America initiated coverage of Viking, a cruise company, with a buy rating. The firm appreciates Viking's single-brand strategy targeting affluent North American travelers aged 55 and older.

RBC Initiates Civitas as OutperformRBC initiated coverage of Civitas Resources with an outperform rating and a price target of $90. The firm believes the carbon energy producer’s shares are trading at a discount.

Evercore ISI Reiterates Netflix as OutperformEvercore ISI reiterated its outperform rating on Netflix, raising the price target from $650 to $700. This adjustment follows detailed surveys in the U.S. and U.K., and an analysis of Netflix’s Basic Plan sunsetting initiative.

JPMorgan Upgrades Huntington Bancshares to OverweightJPMorgan upgraded Huntington Bancshares from neutral to overweight after meeting with its top management. The firm is now more confident in Huntington’s potential for organic growth among large regional banks.

Mizuho Upgrades Norwegian Cruise Line to BuyMizuho upgraded Norwegian Cruise Line from neutral to buy, indicating a positive shift in market sentiment and anticipating an upside to earnings.

Deutsche Bank Initiates Ares as BuyDeutsche Bank initiated coverage of Ares Management with a buy rating. The firm believes Ares is well-positioned to benefit from long-term trends in the alternative asset management sector.

Wells Fargo Downgrades ZScaler to Equal WeightWells Fargo downgraded IT security company ZScaler from overweight to equal weight, citing numerous negative catalysts. The price target was lowered to $182 from $240.

Citi Upgrades DuPont to BuyCiti upgraded DuPont from neutral to buy, praising the company’s business separation plans. The firm sees value in the flexibility of operating as standalone businesses, expecting focused growth and portfolio clarity.

Northcoast Downgrades Live Nation to NeutralNorthcoast downgraded Live Nation from buy to neutral following a lawsuit announced by the Department of Justice. The firm believes the stock will now trade more on legal developments than on business fundamentals.

Morgan Stanley Reiterates CrowdStrike as a Top PickMorgan Stanley reiterated CrowdStrike as a top pick, raising its price target from $372 to $422. The firm sees the company's expanding market and improving financial metrics as key drivers for potential market cap growth.

Loop Reiterates Dell as BuyLoop Capital reiterated its buy rating on Dell, raising the price target from $125 to $185. The firm noted Dell’s progress in artificial intelligence, which is expected to continue through 2025.

JMP Upgrades Duolingo to Market OutperformJMP upgraded Duolingo from market perform to market outperform, citing the stock's attractive valuation after a significant year-to-date decline.

Guggenheim Upgrades Sysco to BuyGuggenheim upgraded food products company Sysco from neutral to buy. The firm sees significant potential for self-help initiatives and believes the stock's underperformance presents an attractive opportunity.

Morgan Stanley Reiterates Microsoft and Meta as OverweightMorgan Stanley reiterated its overweight ratings on Microsoft and Meta. The firm highlighted Microsoft as the most under-owned mega-cap tech stock and Meta as the most over-owned.

Morgan Stanley Reiterates Amazon as OverweightMorgan Stanley reiterated its overweight rating on Amazon, emphasizing the company’s widening competitive advantage driven by its digital and fulfillment investments.

UBS Reiterates Apple as NeutralUBS reiterated its neutral rating on Apple, noting a 52% year-over-year increase in iPhone shipments in China based on April data.

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

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