Here are Friday’s biggest calls on Wall Street: Mizuho reiterates Nvidia as buy Mizuho raised its price target on the stock to $132 per share from $127.50. “We would note upcoming NVDA earnings on Aug 28th. Adjusting NVDA ests, raising NVDA PT to $132.” Morgan Stanley upgrades Third Harmonic to overweight from equal weight Morgan Stanley said in its upgrade of Third investors should buy the dip in shares of the biotech company. “Given the recent pullback in shares and visibility to potentially de-risking data early next year, we are upgrading to Overweight.” Bank of America upgrades Yeti to buy from neutral Bank of America said it sees a slew of positive catalysts ahead for the lifestyle products outdoor company. “We are upgrading YETI to Buy and raising our PO to $55 (from $46) based on 17-18x our C25 EPS of $3.15 given: (1) we see multiple drivers of potential 2H upside including NFL licensed drinkware and hard cooler rollout to YETI.com, strong AMZN prime day in 3Q, and strong new product contribution.” Canaccord initiates Vericel as buy Canaccord said the cell therapy company is a “sustainable high growth and profitable business.” “We are initiating coverage of Vericel Corp with a BUY rating and $57 PT.” Needham upgrades Doximity to buy from hold Needham upgraded the online networking medical professionals company following eanings. “We are upgrading DOCS from Hold to Buy as momentum with large customers, particularly pharma, helped drive Q1 upside and an FY25 outlook raise.” B. Riley upgrades Redwire to buy from neutral B Riley says the space infrastructure company is well positioned. “Outsized Bookings, Submitted Bid Pipeline Position Redwire for Accelerated Future Growth; Upgrade from Neutral to Buy, Maintain $8 PT.” Barclays upgrades Ingredion to overweight from equal weight Barclays said it sees margin expansion for the food ingredients company. “Following strong results and a guidance raise, we upgrade INGR to OW (from EW) with a new price target of $145 (from $122).” TD Cowen upgrades Vital Farms to buy from hold TD upgraded the food products company following earnings. “We raise our rating to Buy following Vital Farms’ strong 2Q beat-and-raise.” Morgan Stanley upgrades General Dynamics to overweight from equal weight Morgan Stanley said in its upgrade of the company that “defense is defensive.” “We upgrade General Dynamics (GD) to Overweight and downgrade L3Harris (LHX) to Equal-weight as we restack Prime ratings post-earnings.” Wells Fargo upgrades Paramount to equal weight from underweight Wells upgraded the media company as it waits for the pending merger with Skydance to close. ” PARA is heading into the Skydance merger with a 1H’25 close. It incl. a $15/sh offer for up to 50% of shares, which limits fundamental upside/downside. We move to Equal Weight during this holding period.” Raymond James upgrades GoodRx to strong buy from outperform Raymond James said investors should buy the dip in the telemedicine company. “We are upgrading GDRX to Strong Buy rated while maintaining our $10 price target following an 18.6% selloff, an over-reaction in our view.” TD Cowen upgrades Burlington to buy from hold TD Cowen said it sees supply chain efficiency for Burlington. The firm raised its price target to $279 per share from $257. “We are raising our price target and upgrading Burlington to Buy.” Morgan Stanley names Eli Lilly a top pick Morgan Stanley named the stock a top pick following earnings on Thursday. “We continue to see upside to cons GLP-1 est and the margin story is playing out as we previewed. We reiterate our OW rating and move LLY to our Top Pick.” William Blair upgrades Blend Labs to outperform from market perform William Blair said in its upgrade of the digital lending platform company that it’s “internal initiatives” are taking hold. “Blend reported second-quarter results slightly ahead of Street expectations with Blend Platform revenues declining roughly 5% and total revenue declining roughly 6% annually, representative of the continued challenging mortgage environment.” Bank of America adds Uber and Chipotle to the US 1 list Bank of America added both stocks to its top picks list. “We are adding Chipotle Mexican Grill (CMG), NVR Inc (NVR), RenaissanceRe (RNR), Northrop Grumman (NOC), RTX Corp (RTX), and Uber Technologies (UBER) to the US 1 List.” Baird downgrades Five9 to neutral from outperform Baird said it has “growth concerns and reduced visibility” for the software company. “Yesterday afternoon FIVN reported solid Q2 results, though provided weaker initial Q3 guidance and lowered its full-year guidance.” Cantor Fitzgerald upgrades SoundHound to overweight from neutral Cantor said the turnaround is happening for the AI voice recognition company. “We believe this could be a transformative acquisition for SOUN, as it brings 1) a very high profile customer base (think too big to fail banks and other Fortune 500 companies); 2) a big stream of recurring revenue, as SOUN expects this deal to deliver $45m of ARR [annual recurring revenue] for 2025E.” Oppenheimer reiterates Sweetgreen as top pick Oppenheimer said the salad company remains a top pick following earnings on Thursday. “We continue to believe SG is in the midst of a powerful revision cycle and reiterate it as one of our top picks. We raise estimates and increase our price target to $36, from $34.” JPMorgan upgrades Confluent to overweight from neutral Jefferies said in its upgrade of Confluent that the risk/reward is too attractive to ignore for the software company. “However, having seen the organizational resilience over the last couple of quarters, with no discernible disruption, in addition to the recent valuation reset driven by the choppy macro environment, we are now comfortable moving into an Overweight position, with a medium-term view.” Guggenheim upgrades Lithia & Driveway to buy from neutral Guggenheim said the setup for auto suppliers is attractive. “Following 2Q24 results, we are updating estimates for our auto supplier and auto dealer coverage and upgrading LAD to BUY.” Bank of America upgrades Synchrony & Bread Financial to buy from neutral Bank of America upgraded several card issuers on Friday and said credit trends are getting better. “We upgrade private label card issuers Synchrony (SYF) and Bread Financial (BFH) to Buy from Neutral.” Goldman Sachs upgrades SQM to buy from neutral Goldman upgraded the Chilean chemicals company due to a lithium rebound. “While investors’ interest on the lithium market remains muted due to an expectation of a prolonged bear market, we now think risk-reward is skewed to the upside, with our price target implying a ~30% upside to current share price and with SQM being well positioned for a lithium supply/demand improvement by 2027.” Bank of America reiterates Amazon as buy The firm said it’s sticking with its buy rating on the e-commerce giant following a report that TikTok & Pinterest will enable in-app shopping for Amazon. “The Information reported that TikTok has agreed to a partnership with Amazon whereby users would be able to link their Amazon profile to their TikTok account, and purchase items via Amazon in ads without leaving the TikTok app.” Deutsche Bank initiates Inari Medical as buy Deutsche said the medical device company is well positioned. “Inari Medical is market leader in mechanical thrombectomy (MT) to address dangerous blood clots in patients with venous thromboembolisms (VTE), which include deep vein thrombosis (DVT) and pulmonary embolism.”
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