Here’s a summary of what’s happening on Wall Street this Tuesday:
Loop Capital has kicked things off with a bullish view on Penguin Solutions, a tech company they believe has a solid footing in the AI space. They’re tagging the stock as a ‘Buy’ with a price target set at $30, emphasizing its strength in essential next-generation tech areas.
Piper Sandler is turning its sights to the beverage giants Coca-Cola and PepsiCo, both marked as ‘overweight’. They particularly favor Coca-Cola, citing its robust global brands and capacity for sustainable growth.
Over at Truist, there’s optimism for big names in banking like Citigroup, Wells Fargo, and Bank of America, all rated as ‘Buy’. They predict these banks will enhance efficiency and returns on tangible common equity through strategic initiatives and cyclical factors.
A notable move from Oppenheimer sees The Cheesecake Factory upgraded to ‘outperform’. Expressing confidence in its upcoming performance, they anticipate a standout year in 2025 with significant profit potential.
In real estate, Mizuho elevates Vornado to ‘outperform’, predicting a recovery in New York City that could spur office rent growth over the next year.
HSBC sees an opportunity at current valuations and upgrades Bank of America to ‘buy’, noting the potential for substantial earnings growth and return on equity expansion.
As for Redburn Atlantic Equities, they’re betting on Disney, upgrading it to ‘buy’. They expect Disney’s streaming profits to outweigh any declines from traditional TV.
Bernstein names Walmart as a top pick, emphasizing potential earnings strength despite a steep price tag. They expect the retailer’s U.S. e-commerce efforts to turn profitable by 2030.
Needham stays firm on Roku, with the company being their standout pick for 2025, driven by connected TV ad growth and market consolidation.
RBC is backing Carvana, raising it to ‘outperform’ after the company’s recent bounce-back, with a price target set at $280 based on strong earnings forecasts.
In contrast, MoffettNathanson downgrades Apple to ‘sell’, citing concerns about a continuous flow of negative news despite recent stock gains.
On another positive note, Bernstein boosts Lululemon to ‘outperform’, optimistic about a comeback in the Americas after a year of slowed growth.
Barclays turns up the volume for Shake Shack and Dutch Bros, upgrading both to ‘overweight’ and showcasing their potential as leading fast-casual brands under new leadership.
UBS keeps Dell in their top picks, projecting the computing company to excel in the AI server market.
BTIG assesses Hims & Hers Health as a ‘buy’, calling it a disruptive force in healthcare tech.
Evercore ISI upgrades LabCorp, recognizing its solid position in the diagnostics space with expectations of sustained lab testing growth.
Wells Fargo spots a promising entry point for Snowflake, marking it as ‘overweight’ thanks to potential benefits from a new product cycle and favorable valuations.
Goldman Sachs sees upward momentum for Zions Bancorporation, predicting net interest margin expansion among other growth drivers.
After a reevaluation, Bank of America downgrades Tesla to ‘neutral’, feeling that growth prospects are already reflected in its stock price.
UBS revisits Bank of America, upgrading it to ‘buy’ and labeling it an underrated contender for 2025.
Truist leans in favor of Atlassian, suggesting that the software company is poised to reap benefits from AI advancements.
Lastly, Evercore ISI puts a tactical ‘outperform’ on both Alphabet and Uber, confident about their potential heading into the upcoming earnings season.
Goldman Sachs stays the course with Nvidia, maintaining a ‘buy’ rating post their CEO’s presentation, highlighting the company’s impressive pace of innovation and robust partnerships.
