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Wednesday’s Biggest Analyst Calls: Apple, Rivian, Datadog, Draftkings, Lucid, Target, Adobe & More

November 8, 2023
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Here are the significant recommendations and updates from Wall Street for Wednesday:

UBS maintains a "neutral" rating on Apple.UBS reported that its data indicates reduced wait times for Apple's iPhone Pro and Pro Max.

Loop upgrades Context Logic to "hold" from "sell."Loop raised its rating on the e-commerce platform company as it explores strategic alternatives.

UBS reaffirms a "buy" rating on Target.UBS adjusted its price target for Target shares to $174 per share from $184 but expressed confidence in Target's performance despite sales pressures in the third quarter.

Wells Fargo initiates an "overweight" rating on Fair Isaac.Wells Fargo initiated coverage of the software credit scoring company, highlighting its unique assets and prominent position in creditworthiness assessment across various sectors.

Wells Fargo upgrades Glaukos to "overweight" from "equal weight."Wells Fargo upgraded the ophthalmic disease company and noted several favorable factors, including positive reimbursement updates and the upcoming launch of iDose, which is expected to drive growth.

Citi downgrades NXPI Semiconductors to "sell" from "neutral."Citi expressed concerns about declining sales for the chipmaker, predicting a significant downside to consensus estimates.

Bank of America upgrades Fluence Energy to "buy" from "neutral."Bank of America sees energy storage as a promising sector within renewables and raised its rating on Fluence Energy accordingly.

Cantor Fitzgerald downgrades Lucid to "neutral" from "buy."Cantor downgraded the electric vehicle company after it revised its annual production guidance and faced persistent challenges in revenue and gross margins.

TD Cowen downgrades Estee Lauder to "market perform" from "outperform."TD cited concerns about deteriorating conditions in Mainland China, driven by a volatile Chinese consumer and challenges in Hainan & South Korea Travel Retail.

Bank of America reaffirms a "buy" rating on Rivian.Bank of America reiterated its positive view on Rivian, emphasizing the company's strong position and product strategy among startup electric vehicle manufacturers.

Susquehanna initiates a "positive" rating on Marqeta.Susquehanna expressed optimism about the fintech company's short-term and long-term prospects, highlighting various opportunities for investors.

Goldman Sachs upgrades Quanta Services to "buy" from "neutral."Goldman Sachs recognized Quanta Services' strong execution and increased exposure to resilient customers in the construction industry, leading to the rating upgrade.

Raymond James downgrades Masimo to "market perform" from "outperform."Raymond James noted a lack of growth visibility, significant estimate reductions, and a less compelling valuation as reasons for the downgrade.

Bank of America reaffirms a "buy" rating on DraftKings.Bank of America expressed a positive outlook for DraftKings ahead of its upcoming investor day, expecting a focus on revenue and profit projections, cohort and profit analyses, and market share assumptions.

Bernstein reaffirms an "outperform" rating on Adobe.Bernstein raised its price target on Adobe and emphasized the company's expanding AI-driven capabilities that are likely to drive additional revenue from existing customers and attract new users.

Mizuho downgrades Datadog to "neutral" from "buy."Mizuho downgraded Datadog, stating that the potential for additional upside appeared limited.

Citi upgrades Microchip to "buy" from "neutral."Citi upgraded Microchip, citing expectations that consensus estimates are approaching a bottom and that factors causing the company to trade at a discount are diminishing.

JPMorgan upgrades Datadog to "overweight" from "neutral."JPMorgan upgraded Datadog, indicating that the worst may be behind the company, and raised its price target.

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

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