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Friday's Top Analyst Calls: Apple, Southwest, Roku, Skechers, First Solar, Crocs, and More

Latest Business News

Wall Street Calls: Enphase Energy Downgraded, Apple and Xpeng Upgraded

Enphase Energy Downgraded by Wells Fargo

Wells Fargo has downgraded Enphase Energy, a solar inverter energy company, to equal weight from overweight. The downgrade is due to Enphase's stronger performance in Europe being offset by weakness in the U.S. market. Wells Fargo expects an accelerated slowdown in the U.S. market in Q4 and 2024, which could negatively impact Enphase Energy's shares.

Apple Reiterated as Overweight by Morgan Stanley

Morgan Stanley has maintained its bullish stance on Apple and reiterated the stock as overweight. The investment bank expects strong results from Apple, predicting that the company will beat expectations and raise its earnings. This positive outlook is based on the upcoming earnings report.

Southwest Airlines Downgraded by Deutsche Bank

Deutsche Bank has downgraded Southwest Airlines from buy to hold following the airline's recent earnings report. The bank expressed concerns about declining profits and limited upside potential in Southwest Airlines' share price. Deutsche Bank believes that the company's optimization of its post-Covid network will impact its earnings forecast.

Xpeng Upgraded by Jefferies

Jefferies has upgraded Xpeng, a China electric vehicle company, from hold to buy. The upgrade is based on Xpeng's partnership with Volkswagen, which Jefferies believes will increase the company's global brand image and revenue stream in the long term. The investment bank is bullish on Xpeng's growth prospects.

Palantir Initiated as Outperform by Wedbush

Wedbush has initiated coverage on Palantir, a data-driven intelligence company, with an outperform rating. Wedbush believes that Palantir is well positioned for the shift to AI and considers the company to be a major player in the AI Revolution. The investment bank expects Palantir to thrive over the next decade.

T-Mobile Reiterated as Top Pick by Citi

Citi has reaffirmed T-Mobile as a top pick following the company's robust earnings report. Citi is optimistic about T-Mobile's financial growth and its ability to repurchase shares at an elevated pace. The investment bank sees favorable prospects for T-Mobile going forward.

First Solar Upgraded by Bank of America

Bank of America has upgraded First Solar from neutral to buy. The bank sees positive catalysts ahead for the solar company, including double-digit annual earnings growth and a leading U.S. solar manufacturing footprint. Bank of America believes that First Solar will benefit greatly from the Inflation Reduction Act.

Skechers Maintained as Top Idea by TD Cowen

TD Cowen has reiterated Skechers as a best idea after the company's recent earnings report. TD Cowen believes that Skechers' global brand and new marketing campaigns, along with its new comfort technology and leading value, continue to resonate with consumers.

Bill Holdings Reiterated as Top Pick by Bank of America

Bank of America has reaffirmed Bill Holdings as a top pick. The investment bank sees the software billing company on a rapid growth trajectory, with a path back to sustained low 40s growth. Bank of America views Bill Holdings as an attractive investment opportunity.

New York Community Bank Upgraded by JPMorgan

JPMorgan has upgraded New York Community Bank from neutral to overweight following the bank's earnings report. JPMorgan sees a very attractive risk/reward for New York Community Bank and believes that the stock is undervalued after the quarter.

Roku Reiterated as Overweight by JPMorgan

JPMorgan has reiterated its overweight rating on Roku and raised its price target on the stock. The investment bank remains bullish on Roku following the company's earnings report, which beat expectations and included positive guidance for the next quarter. JPMorgan is confident in Roku's ability to deliver positive adjusted EBITDA in the future.

Crocs Upgraded by Stifel

Stifel has upgraded Crocs from hold to buy due to the shoe company's product diversification. Stifel believes that profit pool diversification, improved balance sheet optionality, and an attractive valuation will contribute to Crocs' risk-adjusted return prospects.

Deckers Reiterated as Buy by Bank of America

Bank of America expects strong growth for Deckers' HOKA brand and has reaffirmed the stock as a buy. The bank believes that HOKA will double its sales by 2026, driven by penetration in wholesale and international markets, product innovation, and expansion into lifestyle categories.

Eli Lilly Bullishness Reiterated by JPMorgan

JPMorgan is bullish on Eli Lilly ahead of its upcoming earnings report due to the company's diabetes and obesity treatment. The investment bank has estimated peak sales of over $40 billion for Eli Lilly's incretin franchise and remains well above consensus on its growth prospects.

Ford Overweight Rating Maintained by Morgan Stanley

Morgan Stanley has maintained its overweight rating on Ford following the company's earnings report. The investment bank highlights Ford's solid beat in the second quarter, driven by strong margins and cash flows from its Blue and Pro segments. The recent Wall Street calls offer a mix of downgrades and upgrades across various industries, providing valuable insights for new businesses looking to navigate the market. Enphase Energy, a solar inverter energy company, was downgraded due to weaker performance in the U.S. market. This highlights the importance of monitoring regional market trends and adjusting strategies accordingly. On the other hand, Apple and Xpeng received upgrades, indicating positive growth prospects for these companies. This demonstrates the potential benefits of partnerships and expanding into global markets. The call regarding Southwest Airlines' downgrade serves as a reminder of the challenges faced by the travel industry in the post-Covid era. Businesses in this sector must carefully optimize their networks and adapt to changing customer demands. Conversely, T-Mobile's reaffirmed status as a top pick highlights the potential growth opportunities in the telecommunications industry, especially with the ability to repurchase shares. Bank of America's decision to upgrade First Solar underscores the positive momentum in the renewable energy sector. Companies that have a strong manufacturing footprint and are poised to benefit from supportive policies, such as the Inflation Reduction Act, may find themselves in a favorable position for growth. TD Cowen's endorsement of Skechers emphasizes the importance of brand and marketing strategies that resonate with consumers. For new businesses operating in software billing, rapid growth trajectories like that of Bill Holdings present attractive investment opportunities. Similarly, New York Community Bank's upgrade by JPMorgan highlights the potential for undervalued stocks in the banking industry. The bullish outlook on Roku and Crocs by JPMorgan and Stifel respectively demonstrates the value of diversification and innovation. These companies have successfully adapted to changing consumer preferences and have been rewarded with positive investor sentiment. Finally, the optimism surrounding Eli Lilly and Ford, as reiterated by JPMorgan and Morgan Stanley, indicates the importance of delivering strong financial results and capitalizing on market opportunities. This serves as a reminder for new businesses to focus on sound financial management and leverage their competitive strengths. Overall, these Wall Street calls provide valuable insights for new businesses, emphasizing the importance of market trends, industry partnerships, customer-centric strategies, and financial performance. By staying informed and aligning their strategies with these trends, new businesses can position themselves for growth and success in a rapidly evolving market. Article First Published at: https://www.cnbc.com/2023/07/28/fridays-top-wall-street-analyst-calls-include-apple-roku.html

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