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Latest Business News
**Morgan Stanley Reiterates Nio as Overweight**
Morgan Stanley has reiterated Nio as an overweight stock and believes that the electric vehicle company's stock will gain traction. They state that with positive sector sentiment, investors are inclined to take opportunities on laggards like Nio, to play the catch-up. Following the outperformance of XPeng, a start-up peer, they expect Nio to gain traction backed by improving monthly sales.
**KeyBanc Reiterates Nvidia as Overweight**
KeyBanc has reiterated Nvidia as an overweight stock and raised its price target on the stock from $500 to $550. They believe that Nvidia is fundamentally best positioned in the market and they are seeing increasing demand trends across the entire supply chain for generative AI servers.
**Morgan Stanley Reiterates Microsoft as Overweight**
Morgan Stanley has reiterated Microsoft as a top pick and emphasized its compelling positioning. They mention that their CIO Survey shows stable, but muted, IT budget growth expectations for CY23. However, Microsoft appears uniquely well aligned to several key emerging themes and is in the pole position as the Gen AI race begins.
**Baird Reiterates Tesla as Outperform**
Baird has stated that it is bullish on Tesla and reiterates it as an outperform stock. They estimate that Tesla's Supercharger network could contribute up to $5.2 billion to $15.7 billion in revenue by 2030 and add $0.15 to $0.45 to full-year EPS.
**Cowen Reiterates Netflix as Outperform**
Cowen is standing by its outperform rating on Netflix heading into earnings next week. They mention that their 2Q survey suggests Netflix is holding steady as the number one choice for living room viewing. They reiterate their outperform rating and $500 price target.
**UBS Initiates Commercial Metals as Buy**
UBS has initiated coverage of Commercial Metals Company with a Buy rating. They believe the metals company has an attractive valuation, supported by multi-year domestic rebar shipment growth, sustainable high margins, and attractive valuation.
**Piper Sandler Upgrades Zillow to Overweight**
Piper Sandler has upgraded Zillow to overweight from neutral based on several factors. They like the setup for Zillow driven by continued Premier Agent share gains, product optionality and new initiatives, and a bottoming in the housing macro with sequential improvements forecast through 2024.
**Wells Fargo Names Amazon a Top Pick**
Wells Fargo has added Amazon to its signature picks list and sees a positive risk/reward heading into earnings later this month. They mention that buy-side AWS expectations are rising ahead of the print and believe that the second quarter of 2023 is in line with Street expectations.
**Evercore ISI Names Uber a Top Pick**
Evercore ISI named Uber a top pick in place of Meta. They believe Uber has one of the strongest top-line growth outlooks among the companies they cover and faces a series of potential value catalysts. These include the attainment of GAAP profitability in H2, the initiation of capital returns, and S&P 500 inclusion.
**Evercore ISI Adds a Tactical Underperform on Netflix**
Evercore added a tactical underperform rating on Netflix heading into earnings next week. They express concern about the elevated market expectations, especially in terms of subscriber additions.
**Argus Upgrades Generac to Buy**
Argus has upgraded Generac to a buy rating. They highlight that the battery backup company has benefited from stronger-than-expected growth in its Commercial & Industrial business and cost-cutting efforts.
**Canaccord Initiates Newell Brands as Buy**
Canaccord has initiated coverage of Newell Brands with a buy rating. They believe better days are ahead for the consumer goods company, driven by new management and a reasonable strategy that will reignite modest top-line growth, improve profitability and cash flows, and reduce leverage.
**Citi Opens a Positive Catalyst Watch on Hewlett Packard**
Citi has added a positive catalyst watch on Hewlett Packard, noting that the company is gaining PC market share. They believe preliminary PC results suggest potential upside for HPQ's July quarter PC revenues.
**Wolfe Upgrades Vale to Outperform**
Wolfe has upgraded Vale to outperform based on the mining company's strong free cash flow profile and cost support for iron ore prices. They estimate that iron ore prices will be supported at $95-100 per ton.
**Jefferies Initiates Toast as Buy**
Jefferies has initiated coverage of Toast with a buy rating. They expect the restaurant tech platform's profitability to inflect positively in 2023, driven by rapid revenue growth and portfolio expansion.
**Jefferies Upgrades JPMorgan to Buy**
Jefferies has upgraded JPMorgan to a buy rating, stating that it is the best-in-class bank stock. They highlight stable earnings outlook, best-in-class ROE profile, conservative reserving history, and better revenue diversity.
**Bank of America Upgrades 3M to Neutral**
Bank of America has upgraded 3M to a neutral rating, reflecting a more balanced risk/reward for the stock. They mention near-term catalysts but note continuing legal risks with potentially severe financial impact.
**Bank of America Upgrades US Bancorp to Buy**
Bank of America has upgraded US Bancorp from neutral to buy, stating that the bank stock is underappreciated. They believe the investor focus on capital build has distracted attention from the quality of the franchise in the US banking industry.
**Evercore ISI Downgrades JetBlue to Underperform**
Evercore has downgraded JetBlue to underperform from in line. They note the negative fundamental outcome of the lost Northeast Alliance ruling and believe that the premium JetBlue is paying for Spirit continues to expand.
**KeyBanc Reiterates Apple as Overweight**
KeyBanc has raised its price target on Apple and maintains its overweight rating. They highlight some near-term concerns, including spending trends and U.S. carriers' softness.
**Goldman Sachs Reiterates T-Mobile as Top Pick**
Goldman Sachs states that T-Mobile is its overall top pick in the telecom and cable sector. They see key catalysts in 2023, including durable postpaid phone net adds and sustained growth in core adjusted EBITDA.
**TD Cowen Reiterates Target as Outperform**
TD Cowen has lowered its price target on Target but maintains its outperform rating. They express concern with sustained shifts away from goods to services and student loan headwinds, while also monitoring factors such as price competition, negative margin mix, shrink trends, and tougher food comparisons.
**Truist Upgrades Scotts Miracle-Gro to Buy**
Truist has upgraded Scotts Miracle-Gro from hold to buy, stating that the post-pandemic reversion of the U.S. Consumer segment has finally ended. They expect results to be more forecastable and manageable going forward.
**Bank of America Reiterates American Express as Top Pick**
Bank of America is bullish on American Express and reiterates it as a top pick. They highlight the super-prime and high-income cardmember base, which is better protected from inflation pressure.
**Conclusion: Navigating the Investment Landscape**
The recent assessments and ratings from various financial institutions provide valuable insights into the market landscape and the potential performance of specific stocks. For a new business, understanding and analyzing these ratings can offer a glimpse into the investment climate and the factors that may impact their own journey.
One recurring theme among the ratings is the strong emphasis on technology and innovation. Companies like Nio, Nvidia, Microsoft, and Tesla have received positive ratings, highlighting their growth potential and investment prospects. These tech giants are positioned to benefit from evolving trends such as electric vehicles, artificial intelligence, and cloud computing, making them attractive options for investors.
Moreover, the ratings also shed light on emerging players in various industries. Commercial Metals, Zillow, Generac, and Toast have received positive initiations and upgrades, indicating the market's confidence in their long-term prospects. These companies demonstrate potential growth in sectors like infrastructure, real estate, power backup solutions, and restaurant technology.
While positive ratings dominate the landscape, some cautionary opinions, such as the tactical underperform rating on Netflix and the downgrade of JetBlue, highlight the need for businesses to stay vigilant and adaptable. Market dynamics can shift quickly, and it is crucial to assess potential risks and challenges that may impact their own business strategies.
Overall, the comprehensive array of assessments provides invaluable market intelligence to new businesses. By keeping a close eye on these ratings and understanding the underlying trends and analysis, new businesses can make informed decisions about potential investment opportunities or navigate the competitive landscape relevant to their industry.
Article First Published at: https://www.cnbc.com/2023/07/11/tuesdays-biggest-analyst-calls-include-nvidia-apple.html
