Here are Tuesday’s biggest calls on Wall Street: Mizuho reiterates Amazon as it buys Mizuho said it is standing by the e-commerce giant’s stock. “With that in mind, we’ve increased our belief in AWS acceleration and our forecast of 20% upside earnings growth. Keep AMZN as a top pick with a PT of $240.” Goldman Sachs initiates Waystar after buying Goldman said it is bullish on shares of the cloud-based healthcare solutions company. “We initiate coverage of Waystar (WAY) with a Buy rating and 12-month price target of $32.” Bank of America reiterates Nvidia as it buys Bank of America said Nvidia was the “most owned” stock in the semifinals among fund managers. “During the first half, NVDA was the most owned stock among active fund managers, with 68% ownership in June ’24 (up from 67% in the February ’24 report), followed by AVGO, AMAT and AMD.” Piper Sandler Downgrades CrowdStrike to Neutral from Overweight Piper downgraded CrowdStrike primarily on valuation. “As the stock has creditably risen to the highest multiple of any public software company over $75 billion in market capitalization and breached our $400 price target (which we don’t see a near-term catalyst to raise), we are We downgrade our rating to Neutral.” Raymond James Upgrades Comerica to Outperform Market Raymond James said the stock is in a “decline process.” “We are upgrading CMA shares from Market Perform to Outperform and set a $60 price target.” UBS downgrades Pure Storage to sell from neutral UBS said the cloud solutions company has an unjustified valuation. “We downgrade Pure shares to Sell from Neutral, given an unfavorable risk/reward.” Piper Sandler Upgrades Atlassian to Overweight from Neutral Piper said it sees an attractive risk/reward for the software company’s stock. “With the stock down to 8x CY’25E earnings, we think the risk/reward has turned favorable for TEAM.” Jefferies Launches Rapport Therapeutics After Buy Jefferies said the biotech company is well positioned. “We think RAPP can disrupt the treatment paradigm of some $1B+ CNSs [central nervous systems] disorders, starting with epilepsy.” Stifel initiates Life360 while buy Stifel said the security applications company has a “differentiated product.” “We are initiating coverage of Life360 Inc. (LIF) with a Buy rating and $37 target price. We see Life360 as a highly differentiated product aimed at keeping families, pets and ‘things safe.'” Bank of America Re-Raises Spotify as Bank of America Buy Raises Share Price Target to $380 a Share from $370 in earnings later this “We are confident that Spotify’s (SPOT) 2Q24 results will at least be in line with guidance for key metrics, including revenue, premium subscribers and MAUs . [monthly active users]Wells Fargo reiterates Chevron as a top pick Wells said the oil and gas giant remains a top pick. “CVX remains our top pick in integrated oil coverage. The largest open item remains the approved merger with Hess Corp ( HES ) clearing the arbitrage hurdle in the coming months.” Jefferies launches CGI while buy Jefferies said the IT services company is “high quality.” “We start with IT services provider CGI at Buy.” Roth MKM launches TeraWulf after buy Roth said he is bullish on the mining company’s stock. “We are initiating WULF coverage at Buy with a PT of $6.50 and believe it offers investors an attractive investment opportunity in the growing demand for energy for digital infrastructure.” Barclays Launches Viking Holdings as Overweight Barclays said the cruise line is a highlight. “VIK is a unique growth asset in an attractive sector: pure luxury travel, with high visibility and capital efficiency relative to peers, dominating the fastest growing. underserved luxury cruise market.” Citi cuts Lennar and DR Horton to neutral from buy Citi said it is concerned about a “slow” housing market in the second half. “We are lowering estimates and target multiples for Home Builders to reflect a slowing housing market and lowering DHI and LEN to Neutral.” Bank of America reiterates Disney after buy Bank of America said it is maintaining its buy rating on the stock. ” DIS has a collection of best-in-class premiere assets (in content/IP as well as Theme Parks). Susquehanna Upgrades PayPal to Positive from Neutral Susquehanna said it sees “profitable upside” for PayPal stock. “Our conversations with company, which when combined with customer and industry observations, look more constructive.” Seaport upgrades Bank of America to buy from neutral Seaport said the banking giant is free. “So while we may be a little late to the party with our upgrade to Buy, we believe it is justified by BAC’s still cheap valuation, in favor of the consensus, the high level of consumer/wealth exclusivity and the fact that it is significantly under-earning among peers in net interest income.” Guggenheim reiterates Tesla as a sell Guggenheim said he thinks Tesla shares are “highly correlated” to the meme stock, but added that he is sticking to his sell rating. “Electric vehicle stocks have been very associated with so-called meme stocks on days when there is actionable news about Roaring Kitty in the market.” Deutsche Bank repeats Uber after buy Deutsche added the stock to its new money list as a top pick for the third quarter. “Uber is the best-in-class market leader in several categories with large TAMs, growing proximity, new high-margin revenue streams and a growing membership base.” Argus reiterates Netflix as buy Argus said it is sticking to its buy rating on the stock. “We are maintaining our BUY rating on Netflix I nc.’s Focus List selection and raising our target price to $767, as NFLX shares recently surpassed our previous target of $660.”
Tuesday analyst calls like Nvidia on Wall Street