Thursday’s Biggest Analyst Calls: Meta, Coinbase, Microsoft, Robinhood, Wingstop, Target & More

Here are the biggest Wall Street calls:

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Goldman Sachs on Microsoft
Goldman Sachs maintains a “buy” rating on Microsoft following its recent earnings, noting the stock’s continued appeal. The firm emphasized that Microsoft remains a standout opportunity in both the tech industry and broader market.

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Bank of America on Meta
Bank of America reiterated its “buy” rating for Meta, identifying it as a top pick in AI following its earnings report. They see potential for growth well into 2025, citing advancements in AI-driven ad improvements that increase engagement and return on investment, boosting ad spend.

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Oppenheimer on Coinbase
Oppenheimer remains bullish on Coinbase, keeping its “outperform” rating after the company’s earnings release. The firm notes that Coinbase’s strong balance sheet provides stability and potential, making it a promising option for investors in the cryptocurrency space.

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Wolfe on Robinhood
Wolfe Research upheld its “outperform” rating on Robinhood, recommending that investors take advantage of the recent dip in stock price. The firm believes that “crypto optionality” remains strong and encourages buying on weakness, especially with potential for favorable returns through crypto and active trading.

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Goldman Sachs on Meritage Homes
Goldman Sachs upgraded Meritage Homes to “buy” from “neutral,” expressing confidence in the homebuilder’s value at current levels. With a price target increase from $205 to $235, they anticipate a 32% upside, making it an attractive entry point for investors.

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Bernstein on Arm
Bernstein downgraded Arm to “underperform” from “market perform,” finding limited upside in the semiconductor stock despite an initial rally after their previous upgrade. In a challenging semiconductor environment, especially beyond AI, the firm sees Arm’s valuation as high relative to the current market climate.

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JPMorgan on Brinker International
After a strong run in the stock, JPMorgan downgraded Brinker International, owner of Chili’s, to “neutral” from “overweight.” The firm cited high valuation following significant growth in comparable sales for the company, which posted notable figures in recent quarters.

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Oppenheimer on KLA Corp
Oppenheimer upgraded KLA Corp to “outperform” based on an “improved valuation” following the company’s positive first-quarter earnings. They increased their price target from $750 to $850 and raised their estimates for fiscal years 2025 and 2026.

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Morgan Stanley on Biogen
Morgan Stanley downgraded Biogen from “overweight” to “equal weight,” as the launch of its Alzheimer’s treatment, Leqembi, has underperformed. Citing limited pipeline opportunities in the near term, the firm lowered its estimates.

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Deutsche Bank on Kraft Heinz
Following Kraft Heinz’s third-quarter results, Deutsche Bank downgraded the stock from “buy” to “hold,” noting reduced growth expectations and weaker profitability projections as they head into fiscal year 2025.

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Wolfe on Danaher
Wolfe upgraded Danaher to “outperform” from “peer perform,” viewing the recent 10% decline in the stock as a buying opportunity. Wolfe sees expanding margins, increased capital allocation, and growth as reasons to be optimistic, recommending investors capitalize on the current price dip.

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BTIG on Wingstop
BTIG upgraded Wingstop to “buy” from “neutral” after the post-earnings dip. Setting a price target of $370, they suggest investors buy the stock after the recent selloff.

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KBW on Regions Financial
KBW upgraded Regions Financial to “outperform” from “market perform,” suggesting that the regional bank’s shares are undervalued. The firm highlights favorable conditions in treasury management and capital markets revenue as positive tailwinds for the stock.

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Wells Fargo on Target
Wells Fargo reiterated its “overweight” rating on Target, advising investors to buy the stock on weakness. While recent promotions and softening sales data have caused caution, they believe the stock could strengthen heading into 2025.

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Wells Fargo on Carvana
Wells Fargo raised Carvana’s price target from $250 to $300 per share, maintaining an “overweight” rating after the online used car retailer’s strong third-quarter results. The firm expects retail unit growth to continue accelerating into the fourth quarter, bolstering their positive outlook.

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Wells Fargo on Walmart
With Walmart’s earnings approaching, Wells Fargo raised its price target from $88 to $90, keeping the “overweight” rating. The firm is optimistic about Walmart delivering another strong quarter.

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Bank of America on L3Harris Technologies
Bank of America upgraded L3Harris Technologies to “buy” from “neutral,” citing the company’s transformation initiative, “LHX Next,” presented at their 2023 Investor Day. This initiative has shown promise in focusing the company’s resources on growth, making it better equipped to meet its goals and perform favorably.

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