On Wednesday, several significant calls were made on Wall Street regarding various companies. Stifel initiated coverage of Penumbra with a buy rating, expressing optimism about the medical device company’s position as one of the few MedTech companies with positive free cash flow and high growth.
HSBC initiated a buy rating for KKR & Co, a private equity company, citing underappreciated significant earnings growth prospects with a target price of USD148.
Bernstein reiterated an outperform rating for Apple, urging investor calm amidst concerns about weaker lead/wait times for new iPhones and potentially lower associated order volumes.
Bank of America maintained its buy rating for FedEx but adjusted the price target slightly down to $345 per share from $347, remaining optimistic ahead of the company’s earnings report next week.
Morgan Stanley reiterated an overweight rating for Tesla, citing the growth of global data center emissions as a factor bolstering the Tesla Energy bull case while highlighting compliance risks for auto manufacturers.
BTIG upgraded GE Healthcare to buy from neutral, noting improved conditions for the medical solutions and systems company after a challenging first half of 2024 impacted by dynamics in China.
UBS initiated coverage of Talen Energy with a buy rating, pointing out the energy company’s underappreciated upside potential.
JPMorgan began coverage of Civitas Resources with an overweight rating and a December 2025 price target of $67, citing the carbon energy producer’s significant buyback potential.
Wells Fargo reiterated an overweight rating for Micron, lowering its price target to $175 per share from $190 while viewing concerns about a potential DRAM down-cycle in the first half of 2025 as overblown.
Barclays upgraded VF Corp to overweight from equal weight, citing attractive risk-reward levels for the owner of brands like Vans.
Barclays also upgraded Victoria’s Secret to equal weight from underweight, noting a more balanced risk-reward scenario due to new leadership and lower consensus expectations for the second half of 2024.
Wolfe downgraded ResMed to underperform from peer perform, identifying significant risks from the launch of Lilly’s GLP-1 medication tirzepatide for obstructive sleep apnea.
Bank of America reiterated buy ratings for TJX Companies, Burlington, and Ross, seeing these off-price retailers well-positioned for market share gains among younger generations.
The firm also reiterated a buy rating for Starbucks, raising its price offering to $118 from $112 due to increased confidence in the company’s execution.
Goldman Sachs initiated a buy rating for Marriott, describing the hotel company as a high-quality compounder with a back-end-loaded recovery in business and group travel sectors.
Needham initiated coverage of Super Micro Computer with a buy rating, calling the data center AI company the “coolest kid in AI town” and setting a price target of $600.
Guggenheim upgraded Sirius XM to buy from neutral, citing a robust free cash flow outlook, capital returns, and a stabilizing subscriber base despite near-term technical headwinds.
Bank of America reiterated buy ratings for Alphabet, Meta, Amazon, and Uber, identifying these internet tech companies as ideal for defensive positioning in the economic downturn phase.
William Blair initiated an outperform rating for Nvidia, recognizing the company as a leader in parallel computing with a significant history in designing systems for complex processing tasks.
The firm also initiated an outperform rating for Broadcom, projecting continued steady growth driven by increasing custom chip demand and other factors.
JPMorgan reiterated an overweight rating for Roku, raising the price target to $90 per share from $80, emphasizing the company’s focus on platform monetization and expected revenue growth in the fourth quarter of 2025.
Lastly, William Blair reiterated an outperform rating for Arm, praising the company’s best-in-class financials and critical computing IP supporting substantial chip value across several markets.
