[
Here are Monday’s biggest calls on Wall Street: JPMorgan reiterates Apple as overweight The firm is standing by its overweight rating on the stock heading into the iPhone event on Monday for Apple. “The ‘unknowns’ and watchpoints from the upcoming launch event will include pricing and shipping dates, release date of iOS 18 and additionally incremental features and integrations over the ones already highlighted at WWDC to reinforce higher engagement from developers as well as AI partners.” Morgan Stanley downgrades Church & Dwight to equal weight from overweight Morgan Stanley said the stock’s thesis has already “played out.” “We are downgrading CHD to EW, with our prior OW thesis having essentially played out, and relative valuation now fair after a 28% run-up in the stock since the beginning of 2023, 2,400 bps above the median of our coverage group at 4%, and 1,500 bps above large cap staples peers.” Deutsche Bank downgrades Colgate-Palmolive to hold from buy Deutsche said the stock’s upside is already priced in. “We are today downgrading Colgate-Palmolive (CL) to a Hold rating (from Buy), even as we raise our target price to $109 on a roll-forward in time. In our view, CL continues to execute well, with potential paths to upside on both revenue and gross margin looking ahead into FY25.” UBS upgrades Janus Henderson to neutral from sell UBS said management’s new vision is going to “bear fruit” for the capital market company. “We are assuming coverage and upgrading JHG from Sell to Neutral, as recent results indicate improving fundamentals and early signs of success under CEO Ali Dibadj’s new strategic vision.” Jefferies upgrades Exlservice Holdings to buy from hold Jefferies said the analytics and digital solutions company is an AI beneficiary. “We also upgrade EXLS to Buy on industry leading growth and, counter intuitively, it being an AI beneficiary.” Citi upgrades MarineMax to buy from neutral Citi said the boat dealer is a “strong play” in a Fed pivot. “We are upgrading shares of MarineMax from Neutral to Buy, while raising our target from $40 to $44. JPMorgan initiates Wave Life Sciences as overweight JPMorgan said the biotech company is well positioned. “We initiate coverage of Wave Life Sciences with an OW rating and Dec-25 PT of $10.” JPMorgan reiterates Eli Lilly as overweight The firm said the biopharma company is well positioned for growth and is a best idea. “And while shares trade at a significant premium to peers, we see unprecedented growth for LLY over the next decade led by the company’s incretin franchise as supporting the multiple.” Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said it’s sticking with its overweight rating on the stock. “On August 21, Microsoft shared new disclosures regarding segment changes, metrics changes, and the corresponding re-allocation of an unchanged FQ1 outlook.” Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said it’s sticking with its overweight rating on the stock. ” NVIDIA gross margins are likely to come down slightly, but the concerns are overblown in our view.” JPMorgan initiates GE Healthcare as neutral JPMorgan initiated the stock with a neutral and said it’s not “fully comfortable with the margin of safety nor have material confidence in the timing of a China rebound and therefore initiate with a Neutral rating.” “We are initiating on GE HealthCare with a Neutral rating and December 2025 price target of $90. Morgan Stanley reiterates Costco as overweight Morgan Stanley raised its price target on the stock to $950 per share from $855. “We believe COST’s growth drivers are durable, and both historical performance as well as our view of the future of retail point to further upside.” Morgan Stanley reiterates CrowdStrike as overweight Morgan Stanley said it’s sticking with its overweight rating on the cyber security company. “We’re tactically cautious into CRWD’s investor day on 9/18.” JPMorgan upgrades U.S. Steel & Nucor to overweight from neutral JPMorgan said in its upgrade Nucor that it has “strong product diversification.” The firm also upgraded U.S. Steel and said investors should buy the dip. “Hence, we upgrade NUE to OW-rated and STLD to N-rated given strong product diversification. We also upgrad e X to OW-rated after the recent pullback represents an attractive buying opportunity on standalone valuation support.” Citi reiterates Dell as buy Citi said it sees multiple positive catalysts ahead after the company’s inclusion into the S & P 500. “Dell’s shares rallied (+5%) post close on Friday September 6, following the announcement that the company will rejoin the S & P 500 index, beginning September 23.” Bank of America upgrades JetBlue to neutral from underperform Bank of America said it sees an “improving backdrop” for the airline. “Air travel demand as measured by TSA throughput has been stable in recent weeks as domestic capacity continues to moderate, coinciding with falling fuel prices. While we view these recent trends as an industry tailwind, we see JBLU’s positioning as further supported by ongoing self-help measures as demonstrated by last week’s positive investor update.” Bank of America upgrades Texas Capital to buy from underperform Bank of America said the bank holding company’s shares are compelling. “On Friday, TCBI announced a series of transactions which help to narrow the gap vs. mgmt.’s 2025 financial targets (reiterated). Additional progress is still required but we believe this business update eliminates the bear thesis on the stock.”
https://image.cnbcfm.com/api/v1/image/106247986-1573831664576costco.jpg?v=1680349877&w=1920&h=1080
https://www.cnbc.com/2024/09/09/mondays-biggest-analyst-calls-on-wall-street.html
