Tuesday’s Top Analyst Calls: Coinbase, Apple, Coinbase, Walmart, Roku, Nvidia, Amazon, and More

Wall Street's top calls for Tuesday:

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Apple has an overweight status according to KeyBanc

There is a "significant" growth potential for Apple according to KeyBanc.

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“Despite not being reflected in our U.S.-based data, we believe AAPL’s bullish outlook on key markets, particularly China and India, continues to support our view that AAPL still has significant potential for growth.”

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From outperforming to inline, Evercore ISI downgrades XPO

It has been reported by Evercore that the logistics company faces an unfavorable risk/reward ratio.

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“We intend to downgrade XPO to In Line from Outperform as our $35 price target (from $44) based on a new EPS estimate for 2024 (but incorporating the same multiple) does not fully compensate for the risk associated with implementing a new LTL (less than truckload) strategic plan amid severe macro headwinds.”

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Fidelity National Information Services gains overweight status from equal weight at Morgan Stanley

The valuation of the fintech stock has been rated compelling by Morgan Stanley.

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“Upgrading FIS to OW based on a more aggressive M&A strategy, potentially derisked numbers, high valuation, and a more favorable VC backdrop.”

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First Solar downgraded to in line from outperforming Evercore ISI

Solar markets appear to be slowing down, according to Evercore.

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“Solar companies, however, are the primary beneficiaries of the IRA bill's stock performance benefits, and they stand to gain from the production tax credit (PTC) in the IRA bill.”

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Goldman Sachs buys CrowdStrike and Palo Alto Networks

CrowdStrike and Palo Alto were initiated by Goldman Sachs because it is looking for companies with “competitive moats and proven business models.”

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“Multi-product platforms are gaining momentum and addressing the challenge of sustaining innovation in segments historically defined by boom and bust product cycles.”

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Occidental Petroleum is upgraded to buy from neutral by Goldman Sachs

According to Goldman Sachs, the company has a strong free cash flow.

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According to us, OXY's story is underappreciated in four ways. Firstly, shareholders can be repaid free cash flow and preferred equity can be redeemed. Secondly, we believe the Upstream portfolio is undervalued, as it includes high-quality assets in the Middle East and Permian.”

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Amazon is Loop's top purchase

Shares of Amazon are doing well in the "retail bull case," Loop said.

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“The retail business has made significant progress toward improving unit economics, eliminating non-recurring charges for employee severance, impairment charges, and increased insurance liabilities.”

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Coinbase is reiterated as an equal weight by Barclays

Trading volume with retail traders remains relatively weak, so Barclays remains cautious about Coinbase shares.

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"Spot trading volumes and crypto asset prices have increased substantially since we published our 4Q22 earnings previews earlier in January. Despite this, we are cautious, as it appears that the pickup is not being driven by retail activity.”

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Walmart remains Citi's top buy

Ahead of the retail giant's earnings next week, Citi said it's bullish.

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“Based on a reasonably good holiday season across retail, we see potential upside to our numbers, although the market probably prices in Walmart US comps of +5-6% and a $0.10 EPS beat.”

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Nvidia is a buy recommendation from Bank of America

Bank of America raised its price target on Nvidia to $255 per share from $215 and said it’s well positioned in the race to AI.

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“Thanks to its full stack of silicon/systems/software/developers, NVDA's full stack positions the company in a unique position to lead the nascent AI arms race among global cloud and enterprise customers.”

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Burlington remains a buy at Bank of America

The discount retailer has a good chance of recovering margins, according to Bank of America.

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“Our view is that BURL is well-positioned for margin improvement in F23, driven by the unwinding of freight and leverage on better sales.”

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Salesforce is reaffirmed as a buy by Wells Fargo

Salesforce shares are safe with Wells, it said in a note to clients.

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“Despite the ongoing CRM margin debate, the situation may differ this time due to: slower growth in FY24, the recent emphasis on margin expansion by management, and significant activist involvement.”

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Roku is rated to underperform by Bank of America

According to Bank of America, Roku earnings are expected to be bearish on Wednesday.

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“We believe the company is targeting a higher-end consumer by leveraging its brand name, offering a better user experience, and incorporating its sound expertise into those TV models as well.”

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Baird reiterates Home Depot and Lowe's superior performance

As the retail home improvement sector prepares to release its earnings later this month, Baird is bullish about the industry.

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“To summarize, we remain patient/opportunistic buyers of both, with a slight preference for LOW at this point given the stock’s ~20% discount to HD in terms of valuation.”