Thursday's Top Analyst Calls: Apple, Rivian, Roku, Meta, Coinbase, Carvana, Boeing & More

## Thursday's Biggest Calls on Wall Street ### Bank of America reiterates Roku as a buy Bank of America is bullish on Roku heading into its earnings report, stating that while the overall scatter ad market remains weak, certain verticals like travel, health, automotive, and quick serve restaurants are showing incremental improvement. In contrast, media and entertainment as well as financial services are likely to remain pressured. ### Needham reiterates Rivian as a buy Needham is also bullish on Rivian ahead of its earnings release, highlighting the company's competitive advantages. Rivian has emerged as a demand creator with the majority of its buyers being first-time pickup truck purchasers. ### Bernstein reiterates Apple as a market perform Bernstein has raised its price target on Apple stock and is cautious but optimistic heading into the company's earnings next week. The research firm expects Apple's Q3 results to be largely in line with expectations but sees potential upside in services and digital advertising. ### KeyBanc reiterates Coinbase as a sector weight KeyBanc remains cautious about Coinbase's upcoming earnings report due to subdued crypto market activity and recent stock performance. Low volatility and trading volume in the crypto market are factors that have contributed to KeyBanc's caution. ### Morgan Stanley downgrades Carvana to underweight Morgan Stanley believes that Carvana's stock has experienced a rapid and excessive rally. While the firm recognizes the company's positive performance, it believes that the stock's current price offers a less favorable risk-reward profile. ### RBC upgrades Owens Corning to outperform RBC has upgraded Owens Corning to outperform following the company's strong Q2 results and positive guidance for Q3. The firm believes that margin gains are continuing for the roofing and insulation company. ### Jefferies downgrades Estee Lauder to hold Jefferies is concerned about Estee Lauder's recovery in China and has downgraded the stock to a hold rating. The firm has lowered its estimates for FY24 and FY25 and does not see significant growth potential in the near term. ### Bank of America reiterates Mattel as a buy Bank of America continues to stand by its recommendation to buy Mattel shares. The firm believes that the positive sales performance of Barbie in July will help drive toy sales and expects Barbie gross billings to be positive for the rest of the year. ### Wells Fargo reiterates IMAX as overweight Wells Fargo is overweight on IMAX, citing an attractive slate of movies for the remainder of 2023 and beyond. The firm acknowledges IMAX's differentiated business model and its position as a go-to brand for a premium theatrical experience. ### Bank of America upgrades Boeing to buy Bank of America believes that the worst is behind Boeing and has upgraded the stock to a buy rating. The firm sees the post-COVID commercial recovery in passenger demand and continued domestic and international demand in the defense sector as positive factors for the company. ### Atlantic Equities downgrades Union Pacific to neutral Atlantic Equities has downgraded Union Pacific after the company's weak earnings report. The firm cites insufficient upside potential in Union Pacific's performance, as evidenced by lower fuel surcharge revenue, declining accessorial revenue, and weak volumes. ### Barclays upgrades Iridium to overweight Barclays sees an attractive risk/reward opportunity in Iridium and has upgraded the stock to overweight. The firm believes that Iridium's unique assets position it well in the low bandwidth satellite data market and anticipates solid growth in high margin revenues. ### Bank of America downgrades RTX to neutral Bank of America has downgraded RTX (formerly Raytheon) and expresses concerns about slowing margins. The firm believes that investor patience is waning and wants to see tangible results from the company. ### Wells Fargo upgrades Meta to overweight Wells Fargo admits it was wrong about Meta and has upgraded the stock to overweight following the company's impressive earnings report. The firm believes that Meta's strong Q3 revenue guidance is sustainable and that its investment in Reality Labs is justified. ### Bank of America downgrades SunPower to underperform Bank of America has downgraded SunPower due to multiple headwinds facing the company. The firm notes weak gross margins in Q2 and higher installation costs on top of volume challenges. ## Conclusion: A Hot Take on Wall Street's Calls The latest calls on Wall Street provide valuable insights into the market outlook for various companies. From the bullish to the bearish, these assessments can impact both investors and businesses alike. For a new business navigating the market landscape, understanding these assessments is crucial for making strategic decisions. One notable call is Bank of America's bullish stance on Roku, citing improvements in certain verticals like travel, health, automotive, and quick serve restaurants. This indicates potential opportunities for businesses operating in these sectors to advertise and reach consumers effectively through the Roku platform. Additionally, the bullish nature surrounding Rivian highlights the company's competitive advantages and its appeal to first-time pickup truck buyers. This implies that the growing demand for electric vehicles presents a potential market for new businesses aiming to enter the sustainable transportation industry. On the other hand, the cautious sentiment towards Coinbase and Carvana suggests challenges for businesses operating in the crypto and online car retail sectors. These assessments serve as a reminder for new businesses to closely monitor market conditions and adapt their strategies accordingly. Overall, the calls made by major financial institutions provide valuable insights that can impact businesses of all sizes. Understanding the market dynamics and leveraging opportunities highlighted by these assessments can help new businesses make informed decisions and position themselves for success in an ever-changing environment. Article First Published at: https://www.cnbc.com/2023/07/27/thursdays-biggest-analyst-calls-on-wall-street-such-as-meta.html