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Here are Tuesday’s biggest calls on Wall Street: Bank of America reiterates Nvidia as buy The firm named Nvidia to its best-of-breed list. “BoB [best -of-breed] stocks have strong management, balance sheets, EPS growth, cash flow; the highest quality companies generate the best relative returns long term and protect against volatility short term.” Goldman Sachs initiates Disney as buy Goldman said it’s bullish on shares of Disney. “Against the backdrop of these risks, we prefer media stocks with deep competitive moats and high visibility into growth, generally avoiding potential value opportunities that may also have less visibility and higher risks.” Goldman Sachs reiterates Microsoft as buy Goldman said it’s sticking with its buy rating on the stock. “We reiterate our Buy rating ($515 Price Target) on Microsoft as we see the company yielding strong returns on its Gen-AI investments.” TD Cowen upgrades Credo Technology to buy from hold TD Cowen said the software company is well positioned. “However, with the model likely to inflect beginning F2H25 (JanQ), we come off the sidelines − we upgrade to Buy, and name Credo our Best Smidcap Idea as revenue accelerates and broadens across programs and products.” RBC initiates Zeta Global as outperform RBC said the software company is well positioned. “We view Zeta as well positioned to benefit from recent trends emphasizing the science over art of demand procurement and the overlapping of ad and mar-tech.” Raymond James downgrades Penn to market perform from outperform Raymond James downgraded the gaming company mainly on valuation. “We are downgrading PENN to Market Perform after recent activist pressure and M & A rumors have pushed shares up 21% since our May 20 initiation of coverage.” Wells Fargo upgrades Capri to overweight from equal weight Wells said investors have “lost sight of the value” of the company’s portfolio as challenges mount for Tapestry’s proposed takeover of Capri. “With ample concern around the FTC’s challenge to the proposed acquisition of CPRI by TPR (trading ~45% below deal price), investors have lost sight of the value in the CPRI portfolio. We upgrade to OW (PT to $43) and see multiple ways bulls can win.” UBS reiterates Exxon as buy UBS said Exxon well positioned for the next five years. “We view XOM as the best stock to own across our coverage for the next 5 years.” Deutsche Bank initiates Carpenter Technology as buy Deutsche Bank said the alloy solutions company has pricing power. “We are initiating on Carpenter Technology (CRS) with a Buy rating and $144 target price (47% upside potential).” Wells Fargo reiterates Tesla as underweight Wells said it’s sticking with its underweight rating on shares of Tesla. “We expec t TSLA to be impacted by another sub 400K delivery quarter & lower pricing driven by financing promos.” Piper Sandler reiterates Uber as overweight Piper called Uber a “sleeping giant.” “Like all two-sided marketplaces, Gig Economy names have a high-margin Advertising opportunity that AMZN has proven out. We see this already in CART’s lofty unit profitability. But, UBER’s scale makes it a sleeping giant.” Loop upgrades Honest to buy from hold Loop said investors should buy the dip in shares of the consumer goods company. “We are raising our rating from Hold to Buy and maintaining our $3 price target on shares of HNST. TD Cowen upgrades Gap to buy from hold TD Cowen said the clothing retailer has “potential upside.” “We upgrade GPS to Buy and raise our PT to $30 based on potential upside to FY24 Street estimates given solid topline momentum combined with margin expansion on continued inventory & expense management.” Morgan Stanley reiterates Ford as a top pick Morgan Stanley said the automaker is still a top idea. “Prior to 2024, GM or F outperformed the other by > 40%-points over a 6m time period just twice (once each), during the height of EV-optimism in 2021/22. We see an opportunity for Ford narrow the gap by moving the needle toward capital discipline.” Evercore ISI adds Fiserv to the tactical outperform list Evercore said it’s bullish heading into the financial services and tech company ahead of earnings in July. “Adding FI to TAP Outperform before 2Q/CY24 earnings in late July.” Truist upgrades Ball Corp to buy from hold Truist said shares of the glass lid jar company are attractive. “Upgrade BALL to Buy; Good Execution Post-Aero Sale; Focus on Cost, Oper. Excellence; Valuation Attractive.” Wells Fargo upgrades Marqeta to overweight from equal weight Wells said in its upgrade of Marqeta that the financial services company has a slew of positive catalysts ahead. “While our PT ($7) is unchanged we see the recent share weakness as a compelling buying opportunity and upgrade to OW.” Guggenheim initiates Rivian as buy The firm said Rivian has a “compelling catalyst path.” “We are initiating coverage on Rivian Automotive, Inc. (RIVN) with a BUY rating and $18 PT.” Evercore ISI reiterates Apple as outperform Evercore said it sees more upside for Apple shares. ” Apple stock has seen a nice increase since WWDC, but we still think there is more room to run as we see potential for material upside to current iPhone revenue expectations.” Evercore ISI reiterates C.H. Robinson to outperform from in line Evercore said the transport company has upside. “Brokerage is still a late-cycle business, but if CHRW can manage an eventual upturn with less spread pressure than in prior cycles, its ability to leverage the upturn in the later stages would appear enhanced.” Maxim initiates MicroStrategy as buy Maxim said the bitcoin company is well positioned. ” MSTR’s long-standing position delivering analytics software to enterprises makes it a unique platform to integrate artificial intelligence (AI).”
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