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Wall Street Analysts Share Their Insights on Tuesday's Top Stock Calls
Citi Stands by Buy Rating for Meta, Raises Price Target
Citi Investment Research maintained its buy rating for Meta and raised its stock price target from $315 to $360. The company's Reels product and ad loads are doing well, and the online advertising market is expected to remain stable-to-improving, according to the analyst.
Bank of America Reiterates Buy Rating for Roblox
Bank of America maintained its buy rating for Roblox and views it as the 'Metaverse' category leader. The company's mid-20% growth, coupled with its Metaverse, will draw developers, brands, and merchants to the platform, resulting in an excellent runway for future growth.
Goldman Sachs Upgrades Kellogg to Buy
Goldman Sachs upgraded Kellogg to buy from neutral and sees an opportunity to exploit the stock's mispricing and growth potential. The company offers investors a secularly advantaged growth stock on sale.
Oppenheimer Stands by Outperform Rating for Nike
Oppenheimer maintained its outperform rating for Nike, feeling optimistic that the company's reports will help substantiate the long-standing trends it has gained in recent months. This, combined with downbeat investor sentiment, should allow the company to 'pop higher' in the near term.
BofA Reaffirms Buy Rating for Disney
Bank of America maintained its buy rating for Disney due to its IP content library, the value of its brand, park expansion opportunities, and strong leadership that will enable the company to grow in challenging environments.
Bernstein Downgrades Alibaba to Market Perform
Bernstein downgraded Alibaba and cited its challenges to the company's growth and aggressive bear case. While the company remains cheap, a future of low growth appears integrated into its current valuation.
Citi Stands by Buy Rating for Micron Ahead of Earnings
Citi maintained its buy rating for Micron and expects a DRAM (Dynamic Random Access Memory) recovery in the second half of 2023, despite the China ban and DRAM market weakness.
Wells Fargo Initiates Unity Software as Overweight
In its recent initiation of Unity Software, Wells Fargo is optimistic about the buying opportunity it presents, as prior metaverse hype has overshadowed a meaningful mobile cross-sell opportunity.
Barclays Raises Price Target for Eli Lilly with Best-in-Class Oral Obesity Drug
Barclays raised its price target for Eli Lilly and considers its incretin pipeline best-in-class oral obesity drug.
Northcoast Upgrades Wingstop to Buy
Northcoast became more bullish on Wingstop following its meeting with CFO Alex Kaleida. It has raised its rating on the stock from neutral to buy, believing that its growth strategy will sustain an industry-leading performance.
JPMorgan Initiates Cars.com as Overweight as an Auto Marketplace 'Safe Place to Hide'
JPMorgan initiated its coverage of Cars.com at overweight for the relatively safe environment created by undemanding valuation and increasing efficiency in buying and selling vehicles.
Jefferies Initiates Roper as Buy for Diversified Tech Market
Jefferies initiated its coverage of Roper as a buy. It considers the diversified tech company a portfolio of stable assets, mostly software-based and mission-critical to end-users, and providing a cushion against a softening macro.
Bank of America Stands by Buy Rating for Analog Devices
Bank of America maintained its buy rating for Analog Devices, citing a best-in-class free-cash flow generation and returns, predicting room for multiple expansions, and headwinds from various items.
The insights shared in the Tuesday stock calls by Wall Street analysts provide valuable information for new businesses that want to invest in the stock market. The recommended stocks can indicate which industries and companies are thriving and present a promising opportunity for growth. For example, the ratings for Meta, Roblox, and Disney suggest that investing in a company that has a strong brand and intellectual property library can be a smart move. Additionally, Kellogg and Eli Lilly's upgrades showcase potential for significant growth opportunities and a "safe environment" respectively.
However, it is also important to be aware of the potential risks, as demonstrated by Bernstein's downgrade of Alibaba due to growth challenges. By closely monitoring the analysis of Wall Street analysts, new businesses can make informed decisions about which stocks to invest in. Overall, investing in the stock market can provide new businesses with an excellent opportunity for growth if they conduct thorough research and are aware of the potential risks and opportunities in the market.
