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(This is CNBC Pro’s live coverage of Friday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A casino operator and a PC maker were among the stocks being talked about by analysts on Friday. Deutsche Bank reinstated Dell Technologies as a buy, calling for nearly 14% upside. Meanwhile, Morgan Stanley upgraded Wynn Resorts to overweight from equal weight. Check out the latest calls and chatter below. All times ET. 6:14 a.m.: KeyBanc is stepping away from Bumble, says challenges are ‘not quick fixes’ KeyBanc Capital Markets sees trouble ahead for Bumble . The firm downgraded the dating app to sector weight from overweight, with analyst Justin Patterson citing “weak” app store data. Not only that, the brand’s recent relaunch undercuts its “core differentiator,” he said. “Bumble’s new Opening Moves feature allows women to select a question that prompts other users to make the first move,” the analyst said in a note. “This disrupts Bumble’s distinguishing feature of having women make the first move after a match.” With these, Patterson sees the risk to 2025 estimates as “elevated.” Specifically, he believes that consensus forecasts signaling a return to growth by the third quarter of next year could be “overly optimistic.” “Bumble’s challenges are not quick fixes, and we suspect it will take time to stabilize the business,” he continued. The stock slipped more than 2% in premarket trading on Friday. This year, it has underperformed the broader market, falling more than 56%. BMBL YTD mountain BMBL year to date — Sean Conlon 5:49 a.m.: Morgan Stanley upgrades Wynn Resorts A few key catalysts could send shares of Wynn Resorts higher, according to Morgan Stanley. The investment bank upgraded the stock to overweight from equal weight and hiked its price target by $7 to $104, which implies more than 14% upside from Thursday’s close. Analyst Stephen Grambling thinks the casino operator has an “attractive” risk-reward profile and sees its Las Vegas assets as more stable than its peers. He pointed to greater capital reinvestment into Wynn’s properties in the last five years compared to MGM Resorts and Caesars Entertainment. “We believe WYNN’s continued investment, proximity to recently added attractions, and high-end brand will all support more resilient fundamentals vs. the market,” the analyst wrote in a note to clients. Grambling also said the more details surrounding the company’s UAE project at its upcoming analyst event could drive the stock higher, saying the opportunity is “not appropriately valued” at current trading levels. He also cited a focus on capital returns as another catalyst. While shares have moved marginally lower year to date, they’ve surged more than 18% this month. WYNN mountain 2024-08-30 WYNN month to date — Sean Conlon 5:49 a.m.: Deutsche Bank reinstates Dell Technologies as buy The stars are aligning for Dell Technologies , according to Deutsche Bank. Analyst Matt Niknam resumed coverage of the PC maker with a buy rating and a price target of $144, which implies upside of nearly 14%. “We expect top-line growth to accelerate into the double-digits over the next several quarters, as DELL benefits from a confluence of tailwinds across key segments, where it is a share leader (servers, storage and commercial PCs),” Niknam wrote. “We believe DELL is well positioned to capitalize on the next legs of AI growth/proliferation across enterprises, given its product scale, breadth of services/solutions and go to market footprint,” the analyst added. Dell shares have been on fire this year, rising 65.4%. DELL YTD mountain DELL year to date — Fred Imbert
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https://www.cnbc.com/2024/09/27/analyst-calls-all-the-market-moving-wall-street-chatter-from-friday.html
