Here are Wednesday’s biggest calls on Wall Street: BMO initiates Old Dominion as outperform BMO said it’s bullish on shares of the freight company. ” ODFL has consistently been among the top three performing transport stocks over the past three freight cycles, having returned 4,594% since January 2009.” Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it’s sticking with its overweight rating heading into the June 13 shareholder meeting. “Without Elon Musk achieving a 25% voting stake in the company, we believe Tesla shareholders should be prepared for Tesla to significantly slow down/curtail its direct investment in sensitive/advanced AI efforts.” Bank of America reiterates Nvidia as buy Bank of America said it’s sticking with its buy rating on shares of Nvidia . “We reaffirm Buy, top sector pick and street-high $1500 PO as NVDA best positioned to enabling the $3 Trillion IT industry towards delivering AI services.” Gordon Haskett upgrades Instacart to buy from neutral Gordon Haskett said the risk/reward is looking more attractive for Instacart shares. “Upgrade to Buy; Attractive Risk/Reward w/Shares -20% Post 1Q Print Despite + EBITDA Revision & Data Pointing to 2Q Order Upside Barclays reiterates Taiwan Semiconductor as overweight Barclays raised its price target on the semis company to $170 per share from $150. “As the leading global foundry, TSMC is the bellwether for the semiconductor industry.” Morgan Stanley upgrades Boston Beer to equal weight from overweight Morgan Stanley said it sees a more balanced risk/reward for the beer giant. “We are upgrading SAM to EW with a more balanced risk/reward following the -12% YTD decline, and the potential for the market to incorporate a strategic halo into valuation.” Oppenheimer reiterates Uber as a top idea Oppenheimer said there’s plenty of upside ahead for Uber. ‘We see UBER shares as having the most upside within large-cap Internet on tailwinds from healthy affluent consumers (core UBER customer), travel demand, and services spending.” Barclays upgrades Applied Materials and KLA to equal weight from underweight Barclays said in its upgrade of the semi manufacturers that China spend is improving for Applied Materials and KLAC. “Our original thesis was that Semi Cap, as a derivative of Semis, would see the same cyclical correction post pandemic. However, we saw a robust uptick in China spend and aggressive capex plans at the trailing edge in the U.S. offset some of that decline and actually bridge the gap to a more favorable environment in CY25 and beyond.” JPMorgan upgrades Sunoco to overweight from neutral JPMorgan upgraded the stock after a change in analyst coverage and says investors should buy the dip in shares of the oil and gas giant. “Post recent underperformance, we see current stock levels as offering a particularly attractive risk/reward proposition and upgrade SUN to OW.” Citi reiterates Apple as buy Citi said it’s bullish heading into Apple’s Worldwide Developer’s Conference next week. “We maintain our estimates based on QTD supply chain and third party datapoints which show iPhone demand stabilization in China, continued double digit services growth, and await more details on AI at WWDC.” Guggenheim reiterates Disney as buy Guggenheim said Disney Parks momentum remains healthy. “Overall, we believe demand trends remain healthy, attendance is on a path to additional growth and consumer engagement is more globally broad-based compared to domestic-heavy (Walt Disney World) pre-COVID.” Goldman initiates Jazz Pharmaceuticals as buy Goldman said the Pharmaceutical company has a “compelling pipeline.” “We initiate coverage on Jazz Pharmaceuticals (JAZZ) with a Buy rating and 12-month price target of $169.” Bernstein reiterates Amazon as a top pick Bernstein said the e-commerce giant is still a top pick at the firm. “Amazon continues to be our top pick as it demonstrated that it can continue delivering profitability and, most importantly, despite the company guiding up investment intensity, has the ability to fund their AI investments from incremental core operating profits.” Needham reiterates Coinbase as buy Needham says it’s sticking with its buy rating on Coinbase . “The Street will need to lower Q2 estimates after adjusting too high following the robust Q1 print. June and into Q3, we believe. However, we are bullish, given a better regulatory outlook, possible Ether ETFs coming, and meme coin activity.” Benchmark initiates EVgo as buy Benchmark says it’s bullish on shares of the EV charging operator. “We are initiating coverage of EVgo , Inc. with a Buy rating and $3.00 price target. Raymond James reiterates Meta as strong buy Raymond James raised its price target on Meta to $550 per share from $525. “Our increased price target of $550 is based on 22x 2025E P/E, a ~4x turn premium to S & P 500 and significant discount vs. GenAI winners NVDA/MSFT trading at avg 30x, warranted by increased conviction on GenAI prospects.” HSBC upgrades AbbVie to buy from hold HSBC said in its upgrade of the pharmaceutical company that it’s “quality growth.” “We upgrade AbbVie to Buy (from Hold), and add it to our quality growth bucket.” KeyBanc initiates LifeMed as overweight Key said the telehealth company is well positioned for strong top and bottom line growth. “We are initiating coverage of LFMD with an Overweight rating and $12 price target.”
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