Here are the biggest calls on Wall Street on Tuesday: Oppenheimer initiates Flutter as outperform Oppenheimer said it’s bullish on shares of the gaming company. ” FLUT is generating category-leading US OSB [online sports betting] hold rates from merchandising, pricing, and innovating parlay products better than competitors, providing players the most pre-built selections with seamless bet-building experience.” JPMorgan reiterates Netflix as overweight JPMorgan said it sees Netflix as “resilient in a tougher macro.” “Continued Focus on Favorable Content Backdrop, Ad Tier Scale, Plan Changes, & Price Increases; Should Be More Resilient in Tougher Macro; Remain Overweight.” Bank of America reiterates Alphabet as buy Bank of America said it’s sticking with its buy rating on the search giant. “We see Alphabet as well positioned long term with leading AI technology to apply to search, YouTube and Cloud businesses.” Morgan Stanley reiterates Apple as overweight Morgan Stanley said it’s bullish heading into Apple’s Worldwide Developer’s Conference. “While investor expectations are high, we think Apple could positively surprise, helping to unlock pent-up demand, accelerate iPhone replacement cycles,and sustain recent stock outperformance.” Bank of America adds Nvidia to the US1 list Bank of America added the stock to the firm’s top ideas list. “We are adding NVIDIA Corp (NVDA), DraftKings Inc (DKNG), and Kirby Corp (KEX) to the US 1 List. We are removing FedEx Corp (FDX) and Marvell Technology (MRVL) from the list. FDX and MRVL remain Buy-rated.” Canaccord upgrades SentinelOne to buy from hold Canaccord said in its upgrade of the cybersecurity company that the selloff is overdone. “We view SentinelOne as a long-term secular winner due to the company’s positioning as a data-driven security platform, which is facilitated by its roots in Endpoint Security and a strong position in mid-market Enterprise.” Morgan Stanley initiates Zeekr as overweight Morgan Stanley said it’s bullish on shares of the electric vehicle company. “We believe ZEEKR stands out from the competition with its suite of quality and cost-competitive premium EV models.” Barclays downgrades Stanley Black & Decker to equal weight from overweight Barclays said in its downgrade of the stock that it sees “muted growth.” “We downgrade SWK to EW from OW, and cut estimates on ALLE and SWK.” Piper Sandler reiterates Tesla as overweight Piper said it’s standing by its overweight rating on Tesla. “Looking beyond June, we think a rising focus on A.I. will support our Overweight rating. In the meantime, we’re cutting our forecast for deliveries, but boosting our outlook for margins. These changes offset each other, and our price target remains $205.” Bernstein names Broadcom a best idea Bernstein says Broadcom has an “attractive valuation.” “Best in class financial and operational performance.” Wells Fargo reiterates American Express as a top pick Wells raise its price target on the stock to $275 per share from $265. “With an inflection in global acceptance and volume penetration rates well below the US, we believe international will be their strongest segment for the next decade and beyond. We view the growth story as underappreciated. AmEx is our Top Pick.” Bank of America reiterates Logitech as a top pick Bank of America says the computer equipment company has “AI PC optionality.” “Specifically we believe that the launch of AI PCs this year and next year should help LOGN sell more PC peripherals such as mice and keyboards as well as higher margin categories such as webcams.” Morgan Stanley upgrades Heico to equal weight from underweight Morgan Stanley said the backdrop is improving for the aerospace electronics company. “We upgrade Heico to EW from UW as we continue to see a strong backdrop for commercial aftermarket helping to support HEI’s above peer valuation.” Guggenheim reiterates Tesla as sell Guggenheim said it sees too many negative catalysts including demand issues for Tesla. “Burn the Ships, No Turning Back; as Demand Softens, CEO Musk Charges Ahead on Autonomy.” Bank of America reiterates Nike as buy Bank of America said it’s standing by its buy rating on shares of Nike. “We maintain our Buy as we think green shoots will be rewarded now that earnings expectations are rebased, and the stock is at a 10-year trough relative P/E.” Goldman Sachs downgrades Maxeon to sell from buy Goldman said in its downgrade of the solar company that it sees “weak” market conditions. ” MAXN reported 4Q23 and 1Q24 earnings on May 30, with gross margins and EBITDA missing GSe/Factset consensus expectations, and issued weaker-than-expected 2Q24 and FY2024 guidance.” Mizuho reiterates Nvidia as buy Mizuho raised its price target on the stock and says it continues to “dominate.” “Raising our NVDA estimates and PT to $1,275 (prior $1,180) as it continues to dominate the AI hardware landscape.” Mizuho upgrades Sunoco to buy from neutral Mizuho said investors should buy the dip in the energy and oil company’s value. ” SUN has been a notable underperformer since early March – a surprising development in light of fundamental tailwinds.” Bernstein names Linde a best idea Bernstein said it’s bullish on shares of the chemical company. “The market still underestimates the potential of LIN’s leadership positioning in an attractive industry to keep compounding superior performance, while we see stronger top-line growth from next year and increasingly supported by a boost from the clean energy story beyond that.” Wells Fargo upgrades Kinder Morgan and Williams to overweight from equal weight Wells said in its upgrade of Kinder and Williams that it’s seeing a “power surge” in certain energy infrastructure stocks. “AI Power Surge: Nat Gas Stocks Have More Room To Run – Upgrading DTM , KMI , WMB To Overweight Goldman Sachs reiterates Micron as buy Goldman raised its price target on the stock to $138 per share from $122. “We also believe that, according to our updated bull/bear analysis and at MU’s current price, risk/reward on the stock is modestly favorable with our most bullish and most bearish scenarios pointing to 59% potential upside and 53% potential downside, respectively. JPMorgan initiates Columbus McKinnon as overweight JPMorgan said it sees an attractive entry point for the motion controls company. “We are initiating coverage on Columbus McKinnon (CMCO) with an OW rating and a Dec-24 [year-end price target] of $53. ” Morgan Stanley reiterates First Solar as overweight Morgan Stanley raised its price target on the stock to $331 per share from $248. “Within our clean tech coverage , FSLR is the biggest beneficiary of recent trade policy changes on clean energy imports.”
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