Here are Tuesday's biggest analyst calls: Apple, Tesla, UPS, Disney, UBS, Broadcom, Palantir, Tyson & more
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Here are Tuesday’s biggest calls on Wall Street: Deutsche Bank upgrades Li Auto to buy from hold Deutsche said shares of the Chinese auto company are compelling. “Following the stock’s 32% decline since late November we upgrade Li Auto from Hold to Buy, seeing a compelling set-up in the coming quarters driven by a robust product pipeline, further supported by an attractive valuation for a top tier EV player.” BTIG downgrades McDonald’s to neutral from buy BTIG downgraded McDonald’s after its earnings report Monday. “Downgrading to Neutral; Expect More Modest Growth in Near-Future as Discounting Intensifies and Middle East Conflict Weighs on Sales.” Deutsche Bank initiates Flywire as buy Deutsche said it sees an attractive entry point for the payments company. ” FLYW is a leading global payments company that has developed a proprietary payments platform, global payments network, and vertical-specific software solutions to facilitate high value, high stake payments across the Education, Healthcare, and Travel industries as well as in key B2B vertical markets.” Wedbush upgrades Varonis to outperform from neutral Wedbush upgraded the security software company and said it sees AI tailwinds. “We are upgrading VRNS to OUTPERFORM from NEUTRAL on the heels of another strong quarter with further evidence the model transition is hitting its next gear of growth and also the AI Revolution will give VRNS a clear tailwind over the next 12 to 18 months in our view.” Rosenblatt initiates Sprinklr as buy Rosenblatt initiated the customer experience platform software company and said it sees upside. “We are initiating coverage of Sprinklr with a Buy rating and a $16 price target. The company’s AI-powered Unified-CXM platform unlocks powerful customer insights, enabling real-time engagement across 30+ digital channels.” UBS upgrades UPS to buy from neutral UBS said in its upgrade of the stock that it sees “attractive EPS growth.” “We are upgrading UPS to Buy from Neutral because we expect management to deliver a strong cost reduction program to support margin expansion and attractive EPS growth despite facing a backdrop of muted revenue growth.” Deutsche Bank reiterates Disney as buy Deutsche said it’s sticking with its buy rating on Disney heading into earnings on Wednesday. “Our estimates, at a Consolidated OI [operating income] level, are essentially unchanged for F1Q, F2Q, and F4Q; while F3Q is 4% below our previous estimate. Bernstein reiterates Tesla as underperform Bernstein said it still sees no near-term positive catalysts for the stock. “Despite the stock’s underperformance YTD, we struggle to see a catalyst for TSLA.” Morgan Stanley reiterates Apple as overweight Morgan Stanley said it’s bullish on the company’s Vision Pro product. “Apple’s Vision Pro headset represents a free call option on the future of spatial computing.” Daiwa downgrades Tesla to neutral from outperform Daiwa said in its downgrade of the stock that the “blows keep coming” for Tesla. “We are downgrading TSLA stock rating to 3/Neutral from 2/Outperform as we see corporate governance concerns aggravating already tough financial conditions in 2024.” JPMorgan resumes Broadcom as overweight JPMorgan resumed coverage of the stock following a period of restriction. “Following a period of restriction on Broadcom , we are moving to an OW rating (from Not Rated) and a December 2024 price target of $1,550.” Piper Sandler downgrades Chegg to underweight from neutral Piper said it sees too many negative catalysts for the education company. “We are lowering our rating on Chegg to Underweight, due to the company’s continued limited visibility, subscriber headwinds (6% decline in FY23), and broader AI related competitive pressures.” Morgan Stanley upgrades Open Lending to equal weight from underweight UBS downgrades Plug Power to neutral from buy UBS said in its downgrade of the charging company that it sees “limited near-term upside.” “We downgrade PLUG to Neutral, as on our price target of $4.75/shr, potential upside looks limited near term.” Bank of America upgrades Tyson Foods to neutral from underperform Bank of America said company fundamentals are improving. “While Beef remains a headwind (and is likely to do so for some time), Chicken fundamentals (and TSN’s execution) have seen material improvement.” Redburn Atlantic Equities downgrades Bristol-Myers to neutral from buy Redburn said in its downgrade of the stock that it sees no near-term positive catalysts. “We downgrade BMY to Neutral following a reconsideration of the medium-term outlook in the wake of multiple acquisitions and product updates.” Citi upgrades Palantir to neutral from sell Citi said in its upgrade of the stock that it’s seeing some “breakthrough momentum” after its earnings report on Monday. “We are upgrading shares of PLTR to Neutral/High Risk from Sell/High Risk after a stronger-than-expected Q4 and outlook that suggests some breakthrough momentum in the Commercial business.” Northcoast initiates TKO as buy Northcoast says it’s bullish on the UFC and WWE combined company. “Simply put, we feel the combination of the UFC and WWE assets brings together two unique and exceptionally entrepreneurial leadership teams to create a combined sports juggernaut with the opportunity to leverage each other’s strong suits and propel TKO to new heights.” JPMorgan resumes BeiGene as overweight JPMorgan said it sees an attractive entry point for the pharmaceutical company. “We recently assumed coverage of BeiGene (BGNE – ADR) and are moving to an Overweight rating from a Not Rated designation and establishing a December 2024 price target of $185.” JPMorgan reiterates UBS as overweight The firm said UBS is still a top pick after its earnings report. “Although the 4Q results are weaker than consensus driven by higher costs than expected, we put the emphasis on UBS targets and the path to developing into a WM [wealth management] powerhouse, being the largest only Global WM today already.
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