Friday’s Biggest Analyst Calls: Apple, Tesla, Boeing, First Solar, Qorvo, Exxon, Meta, O'Reilly & More

Here are the prominent calls made by Wall Street analysts on Friday:

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Bank of America: Reiterated Meta as a buy, expressing optimism about Meta's venture into artificial intelligence. The analysts believe that AI-driven innovation at Meta will lead to new user experiences and recurring revenue models.

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JPMorgan: Reiterated Exxon as overweight, considering it one of its favorite ideas for 2024. Exxon stands out with the most attractive valuation among its U.S. peers and displays defensive dynamics in a downside scenario.

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Morgan Stanley: Upgraded Qorvo to overweight from equal weight and downgraded Qualcomm to equal weight from overweight. The firm cited strong catalysts for Qorvo and highlighted Qualcomm's tough comparisons due to strong execution in the early stage of the 5G cycle.

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Citi: Downgraded Deckers to neutral from buy based on valuation after a strong run, noting a more balanced risk/reward.

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Bernstein: Reiterated Tesla as underperform, presenting a short case for Tesla in 2024. The note emphasized concerns about a potential waning of the growth narrative impacting the stock's multiple.

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Morgan Stanley: Reiterated Apple as overweight, raising the price target to $220 per share from $210. The firm expressed positivity on Apple shares, citing quelled near-term risks and a focus on factors driving a recovery in fundamentals.

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JPMorgan: Initiated Silicon Labs and Synaptics as overweight, highlighting their well-positioned status in the Internet of Things (IoT) end market.

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Bank of America: Reiterated Broadcom as a buy, standing by its buy rating after Broadcom's earnings report. The note highlighted AI surge offsetting cyclical headwinds in enterprise server/storage areas.

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JPMorgan: Initiated Cogent Biosciences as a buy, identifying the biosciences company with substantial upside potential.

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Stephens: Initiated East West Bancorp as overweight, recognizing the regional bank's impressive growth acumen.

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TD Cowen: Initiated Hubbell as outperform, citing the electrical products company's impressive growth prospects.

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Wells Fargo: Initiated Clean Harbors as overweight, acknowledging the waste company's leading market position within the hazardous waste landscape.

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Wells Fargo: Upgraded SLM Corporation to overweight from equal weight, citing competitive positioning and raising the price target.

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BMO: Downgraded Casey's General Stores to market perform from outperform, driven by elevated fuel margin expectations.

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Morgan Stanley: Upgraded First Solar to overweight from equal weight, suggesting investors buy the dip after a recent sell-off.

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Loop: Initiated Klaviyo as buy, seeing meaningful upside potential for the marketing automation company.

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Bank of America: Reinstated Wix.com as a buy, highlighting underappreciated margins and a favorable AI strategy.

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Bank of America: Initiated Vital Energy as underperform, citing numerous risks for the energy company.

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Goldman Sachs: Initiated Vici Properties as a buy, identifying the gaming real estate investment trust as well-positioned.

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Deutsche Bank: Upgraded Taylor Morrison to buy from hold, recognizing strong momentum and favorable relative valuation.

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Deutsche Bank: Downgraded KB Home to sell from hold, primarily based on valuation.

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UBS: Named Boeing a top pick for 2024, emphasizing record new aircraft orders and improving supply chain support.

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TD Cowen: Named Frontier a top pick for 2024, considering it a market maverick in the cable industry.

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TD Cowen: Named Zebra Technologies a top pick for 2024, citing the mobile computing tech company's position as a major Covid beneficiary.

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TD Cowen: Named O'Reilly a top pick for 2024, highlighting the stock as a best-in-class compounder with expected market share growth.

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Deutsche Bank: Upgraded Equifax to buy from hold, foreseeing a mortgage rate recovery and asymmetric risk/reward.

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Wolfe: Upgraded Cushman & Wakefield to outperform from peer perform, noting it as the last inexpensive CRE services stock.

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D.A. Davidson: Initiated Mondelez and Freshpet as a buy, positioning them well for 2024 with favorable prospects for holding or growing margins.