Thursday’s Biggest Analyst Calls: Nvidia, Disney, Tesla, Amazon, Microsoft, Ralph Lauren, Vornado, Costco, Microsoft & More

Here are the top analyst calls from Wall Street on Thursday:

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Canaccord Initiates Coverage on Stride with Overweight Rating

Canaccord Genuity began its coverage on the education technology company, Stride, assigning it an overweight rating. The firm is optimistic about Stride’s positioning as online learning continues to gain traction. The analysts set a price target of $94, reflecting confidence in the company's growth potential, supported by an 8x forward adjusted EBITDA and a valuation based on discounted cash flow (DCF) analysis.

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JPMorgan Downgrades Bumble to Neutral

JPMorgan has downgraded the dating app company Bumble from overweight to neutral, following its earnings report on Wednesday. The analysts noted that Bumble delivered mixed second-quarter results and significantly lowered its 2024 outlook. JPMorgan highlighted that the challenges Bumble faces are complex, making it difficult to address the underlying issues quickly.

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Barclays Initiates Constellation Energy as a Buy

Barclays initiated coverage on Constellation Energy with a buy rating, citing the company’s strong position in the energy sector. The firm set a price target of $211 and emphasized Constellation Energy’s leadership in carbon-free energy generation in the U.S., particularly through its nuclear, natural gas, and renewable energy assets.

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Bank of America Reiterates Buy Rating on Ralph Lauren

Bank of America reaffirmed its buy rating on Ralph Lauren after the company’s earnings report. Despite a challenging macroeconomic environment, the analysts were encouraged by the brand's healthy performance and strong margin execution in the first quarter, reinforcing their positive outlook on the company.

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Barclays Reiterates Overweight Rating on Disney

Barclays maintained its overweight rating on Disney following the company’s earnings announcement. The firm acknowledged the challenges Disney is facing in its theme parks segment but noted that other divisions could potentially offset these weaknesses. Barclays sees potential in Disney's broader portfolio, even as visibility remains limited in certain areas.

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Mizuho Downgrades Intel to Neutral

Mizuho downgraded Intel from outperform to neutral, pointing to several negative factors affecting the company. The firm had previously upgraded Intel in November 2023, anticipating strong growth from AI advancements and new product lines. However, Intel has struggled to keep up with its peers and is losing market share in critical areas such as AI, data centers, and PCs through 2025.

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BMO Upgrades Vornado Realty Trust to Outperform

BMO Capital Markets upgraded Vornado Realty Trust from market perform to outperform, citing improved office and retail fundamentals in New York City. The firm increased its price target to $40, up by $11, reflecting growing optimism about Vornado’s high-quality portfolio in the recovering NYC market.

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Redburn Atlantic Equities Reiterates Buy Ratings on Microsoft and Amazon

Redburn Atlantic Equities reiterated its buy ratings on both Microsoft and Amazon, advising investors to take advantage of any dips in the stocks. The firm believes the recent sector derating presents a buying opportunity, particularly as both companies continue to have strong prospects, despite a less favorable deflation-inflation balance.

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Citi Reiterates Buy Ratings on Nvidia and Micron

Citi analysts maintained their buy ratings on Nvidia and Micron, encouraging investors to buy the dip in semiconductor stocks. The firm highlighted Micron as its top pick, citing a persistent DRAM market upturn and better-than-expected pricing in the third quarter of 2024. Citi also recommended other semiconductor names like AMD, Broadcom, Analog Devices, Microchip, and KLA.

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Raymond James Upgrades Lattice Semiconductor to Outperform

Raymond James upgraded Lattice Semiconductor from market perform to outperform, suggesting investors buy the dip in the stock. The analysts believe the cyclical correction in the semiconductor sector is largely over, and they expect upward revisions in the coming quarters. Specifically, Lattice’s Industrial/Auto segment, which saw a significant decline year-over-year in the second quarter, is anticipated to recover gradually as inventory levels normalize.

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Bank of America Downgrades Celsius Holdings to Underperform

Bank of America downgraded Celsius Holdings from neutral to underperform, citing a slowdown in the energy drink category. The firm’s research indicates that this slowdown could disproportionately impact Celsius, leading to a lower price objective of $32, down from $60.

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KeyBanc Upgrades Wolverine World Wide to Overweight

KeyBanc upgraded Wolverine World Wide from sector weight to overweight, finding the stock compelling after the company’s earnings report. The analysts believe the better-than-expected results are a strong indication of the company’s growth trajectory, prompting them to increase their rating.

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Evercore ISI Upgrades Sarepta Therapeutics to Outperform

Evercore ISI upgraded Sarepta Therapeutics from in line to outperform, recommending investors buy the dip in the biotech company. The analysts took advantage of the recent weakness in Sarepta’s stock, setting a price target of $179 per share.

Seaport Downgrades Disney to Neutral

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Seaport Global downgraded Disney from buy to neutral following the company’s earnings report. The firm cited concerns over the profitability outlook for Disney’s Parks and Direct-to-Consumer segments, prompting a more cautious stance on the stock.

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RBC Reiterates Outperform Rating on Tesla

RBC Capital Markets maintained its outperform rating on Tesla, noting that the company’s Full-Self Driving (FSD) technology could serve as a near-term catalyst for the stock. RBC highlighted Tesla’s growing regulatory credits and energy storage business as additional positives, while also suggesting that a potential price cut for FSD could significantly boost the stock.

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Daiwa Upgrades Arm Holdings to Outperform

Daiwa upgraded Arm Holdings from hold to outperform following its earnings report. Although the results were mixed, with a weak second-quarter 2025 outlook, the firm remains bullish on Arm’s leadership in mobile computing and its expansion into other tech areas, particularly artificial intelligence.

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Gordon Haskett Upgrades Costco to Buy

Gordon Haskett upgraded Costco from accumulate to buy after the company’s same-store sales results exceeded expectations. Costco reported a 7.2% increase in July, surpassing the firm’s 6.0% model and broader market expectations of 4.0% to 6.0%.

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Morgan Stanley Downgrades Textron to Equal Weight

Morgan Stanley downgraded Textron from overweight to equal weight, citing a more balanced risk/reward profile for the aircraft company. The firm considered investor sentiment, Textron’s strong balance sheet, and the overall risk-reward scenario in making the downgrade.

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Mizuho Initiates Coverage on Westlake Chemical with Outperform Rating

Mizuho initiated coverage on Westlake Chemical with an outperform rating and set a price target of $170. The firm is bullish on the chemical company’s prospects and also initiated coverage on Olin Corp with a neutral rating and a $45 price target.

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Bank of America Downgrades Topgolf Callaway to Neutral

Bank of America downgraded Topgolf Callaway from buy to neutral, citing a challenging outlook following the company’s earnings report. The analysts acknowledged the company’s valuation is compelling compared to peers, but they are cautious about the broader challenges in the golf industry.

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Daiwa Upgrades Pfizer to Outperform

Daiwa upgraded Pfizer from neutral to outperform after the biopharmaceutical company’s earnings report on July 30. Pfizer’s upward revision of its full-year 2024 guidance, including a $1 billion increase in revenue targets, was a key factor in the upgrade.

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Bank of America Reiterates Buy Rating on Shopify

Bank of America reaffirmed its buy rating on Shopify, following the company’s solid second-quarter performance. The firm highlighted Shopify’s strong topline growth, driven by market share gains, same-store sales growth, and increased penetration of its payment platform in gross merchandise value.

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JPMorgan Reiterates Overweight Rating on SolarEdge

JPMorgan maintained its overweight rating on SolarEdge, despite mixed second-quarter results. Although the company’s earnings per share were below expectations, the firm noted that revenue came in slightly better than anticipated, supporting its continued positive outlook on the stock.

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