Here are the biggest stories from Wall Street Thursday. Nike was relaunched when Deutsche Bank acquired it. Deutsche Bank said it had resumed reporting on the stock and was bullish. “We believe NKE is taking bold steps to embark on a multi-year innovation cycle that will transform its business and accelerate top-tier trends and market share growth.” Bank of America’s acquisition of Broadcom reiterated this, as Bank of America said it “may join the trillionaire club” following the company’s earnings. “Broadcom (AVGO) reported a 4% increase in second-quarter revenue, raised its FY24 revenue forecast to $51 billion from $1 billion, and declared a 10-for-1 stock split.” Citi added Coca-Cola and Royal Caribbean to its focus list. Citi said it was refreshing its list of belief ideas and added Coca-Cola and Royal Caribbean, among others. “We refresh ideas with the highest convictions. Within them, we highlight key points of differentiation and the following catalysts: Added: EVRG, KO, RCL and TEAM. Removed: FHN, WMT.” Oppenheimer named Ulta a top pick. Oppenheimer said Ulta’s stock price is too attractive to ignore. “The compelling risk/reward scenario supports our addition to our Top Pick rankings.” Jefferies reiterated Microsoft as its top choice. Jefferies said in a headline note that Microsoft is “a top AI pick targeting AI gold, not silver.” “While MSFT cannot comment on other companies’ AI announcements, we remain enthusiastic about our partnership with OpenAI to provide cloud services. We believe MSFT will benefit from this transaction given its profit-sharing agreement with OpenAI and OpenAI’s position as a cloud provider. It is noted that there is a high possibility of obtaining a “supplier.” Oppenheimer reiterates that Nvidia is performing well. Oppenheimer said he would maintain the outperform rating after a meeting with the company’s management. “We see NVDA as best positioned in the AI space, leveraging the benefits of full-stack AI hardware, networking, and software solutions to outperform and maintain our $150 target.” Bernstein maintains an Outperform rating on Meta, reiterating Meta as Outperform Bernstein said in the Bull/Bear Note. “Good today, good tomorrow. Keep up the great work. PT $565.” Goldman Sachs acquires Chipotle and Starbucks, launching Chipotle and Starbucks. Goldman said that from the start of Chipotle and Starbucks, both companies were attractive. “Given our still healthy spending outlook and more persistent behavioral changes post-COVID-19, we are less concerned about a decline in restaurant spending or PCE share.” Morgan Stanley issues Goodyear Tire equally weighted. “Margins and cash yields remain low,” Morgan Stanley said in the launch of the stock offering. “Goodyear looks to transform its business through self-help, asset divestitures and strengthening its pricing/mix.” Wolfe upgrades 3M to outperform peers. In his stock upgrade, Wolfe said the company’s valuation is “deeply discounted.” “New CEO Bill Brown is bringing The Right Stuff to 3M, giving us more confidence in our medium-term EPS outlook.” Morgan Stanley downgraded Corning’s credit rating from overweight to equal weight. Morgan Stanley downgraded Corning’s credit rating primarily due to valuation. “Improvement in demand reflected in valuations, downgraded to equal weights.” TD Cowen says the carbon-neutral energy producer is “undervalued” as it acquires Civitas Resources. “We are initiating coverage on Civitas Resources with a Buy rating and $90/shr NAV-. [net asset value] KeyBanc raised its price target on the stock from $705 to $707. “KeyBanc reiterated its emphasis on Netflix, raising its price target from $705 to $707. “The latest media survey shows some positive signs. 1) Consumers using Netflix improved the most for two consecutive quarters. – 40% Bring Netflix back to prepaid share levels. We believe this amounts to improving content and reducing competitive pressure. 2) Pricing power persists. Intention to cancel remains the same as historical levels of 23%.” With its acquisition of Dell, Bank of America said there are several positive catalysts ahead for Dell. “We find the 2025 setup as attractive as anything else. see. DELL’s business areas can be stronger together.” Bank of America upgrades Kimberly-Clark to buy from underperforming company Bank of America doubles down on home care products company, reveals “favorable setup” going forward. “Upgrade KMB to buy from underperforming companies. Structural changes are ahead.” Morgan Stanley reaffirms Amazon, Alphabet, Meta, Microsoft and Adobe as Overweight. Morgan Stanley picks several technology stocks suited for AI: “GOOGL, MSFT, AMZN, META and ADBE Stands out as a leader. Morgan Stanley reaffirmed Colgate-Palmolive as its top pick. Morgan Stanley said Colgate’s “Pet inflection point may be imminent.” “We re-emphasize OW ahead of Pet Topline/Profit Inflection.” Wells Fargo Reaffirms Roblox as Overweight Wells “Roblox’s competitive positioning remains strong and it is unlikely to be challenged by Fortnite in the near term.” Stephens upgraded Par Technology to Overweight from Equal Weight Stephens. The hardware and software solutions company said it “has visibility into profitability.” “We are upgrading PAR’s stake to OW/Vol. In EW/Vol., Barclays downgraded NextEra Energy Partners from Equal Weight to Underweight. The firm sees too many negative catalysts for the stock. “NEP is the world’s largest renewable developer, and the company’s ability to grow is heavily dependent on NEER’s capital-intensive drop-down acquisitions. [NextEra Energy Resources]. Wedbush said Tesla is sticking to its Outperform rating following Elon Musk’s post saying his pay package was approved at X. “It’s a champagne moment for Musk and Tesla shareholders as the hot-button 2018 Comp package and Texas incorporation were overwhelmingly approved overnight based on Elon’s X post.” Bank of America raised its price target on Boeing from $180 to $200 per share, but said it was maintaining its neutral rating. Boeing maintains a dominant position in a robust air traffic demand environment through the moat created by its dual monopoly, but on the other hand, turning around its operations may take time and uncertainty may remain in the near future.
Thursday’s top analysts call Wall Street like Nvidia and Tesla.
