Thursday’s Biggest Analyst Calls: Nvidia, Tesla, Apple, Nio, Doordash, Robinhood, Alphabet, Micron & More

Here are Thursday’s biggest calls on Wall Street:

Morgan Stanley Reaffirms Alphabet's Overweight Rating
Morgan Stanley highlighted four key areas for Alphabet to focus on to boost its valuation. They emphasized the need for improved AI disclosures, more detailed revenue and expenditure guidance, enhanced segment reporting, and greater focus on the company's positive societal contributions.

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Morgan Stanley Reaffirms Apple as Overweight
Despite concerns over iPhone 16 demand, Morgan Stanley found reassurance in remarks from T-Mobile's CEO. He mentioned that the iPhone 16 series is seeing strong year-over-year sales growth, indicating potential sustained demand even before the anticipated launch of Apple Intelligence.

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JPMorgan Lowers Five Below to Underweight
JPMorgan downgraded Five Below to underweight, citing "margin constraints" for the discount retailer. They pointed out that their analysis suggests comparable store sales in August fell in the low single digits, with slight improvement in the first half of September.

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Piper Sandler Reaffirms Robinhood's Overweight Rating
Piper Sandler expressed optimism about Robinhood's prospects, highlighting an opportunity to expand its cryptocurrency offerings. They estimate this could result in a 10-12% earnings per share boost if Robinhood aligns its crypto services with more specialized crypto platforms.

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KeyBanc Maintains Overweight Rating for Nvidia
KeyBanc reiterated its overweight rating on Nvidia, noting the company's unique position in capitalizing on the growth of artificial intelligence and machine learning within the data center sector.

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Redburn Atlantic Equities Initiates Kodiak Gas Services as Buy
Redburn Atlantic Equities initiated coverage on Kodiak Gas Services with a buy rating, describing it as an attractive investment. They noted that the company, a leading provider of contract compression services, offers investors a way to benefit from structural growth in U.S. natural gas demand.

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Mizuho Initiates Talos Energy as Buy
Mizuho rated Talos Energy as a buy, stating that it presents a compelling investment opportunity. They cited the company's strategic focus on balancing asset optimization, low-risk development, and targeted high-impact exploration projects. This balance, combined with a high oil mix and above-average EBITDA margin, offers an underappreciated outlook for cash generation at current price levels.

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Mizuho Recommends Northern Oil and Gas as Buy
Mizuho initiated coverage on Northern Oil and Gas with a buy rating. They acknowledged the pros and cons of the company's non-operator status but believe that its scale, lower operational risk, high cash operating margins, strong track record in mergers and acquisitions, and attractive cash returns make a compelling case compared to other exploration and production companies.

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Raymond James Upgrades Safehold to Outperform
Raymond James upgraded Safehold to outperform from market perform, citing the real estate investment trust as a beneficiary of lower interest rates. They raised their estimates for 2025 and set a price target of $34 per share.

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Morgan Stanley Reiterates Nio as Overweight
Morgan Stanley reiterated its overweight rating on Nio after the company revealed its latest mid-sized family model, the L60. The firm acknowledged concerns regarding Nio's execution but emphasized that the model's success could significantly impact market sentiment, supply chain commitments, and the company's cash flow.

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TD Cowen Reaffirms Buy Rating for Micron
TD Cowen maintained its buy rating on Micron but lowered its price target from $160 to $115 per share ahead of the company's earnings report. They anticipate a potential upside similar to the second half of 2021 when the stock rebounded by nearly 40% over three months, presenting an attractive risk-reward scenario.

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Morgan Stanley Remains Cautious on Tesla
Despite concerns about Tesla's upcoming robotaxi event, Morgan Stanley reaffirmed its overweight rating on the stock. The firm expressed skepticism about the event meeting investors' high expectations.

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Barclays Initiates Hertz as Underweight
Barclays initiated coverage on Hertz with an underweight rating, citing several negative catalysts for the car rental company. They pointed to liquidity concerns amid the company's fleet overhaul.

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Piper Sandler Recommends Abbott Laboratories as Overweight
Piper Sandler initiated coverage on Abbott Laboratories with an overweight rating, highlighting its attractive valuation. They set a price target of $131 per share.

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Wells Fargo Initiates Outfront Media as Overweight
Wells Fargo initiated coverage on Outfront Media with an overweight rating, expressing optimism about the outdoor advertising company's prospects. They set a price target of $22 per share.

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Morgan Stanley Downgrades Elanco to Equal Weight
Morgan Stanley downgraded Elanco from overweight to equal weight, citing a lack of conviction in the pet biopharma company. They acknowledged that while the company's pipeline progress could lead to more consistent growth, they remain uncertain due to the evolving competitive landscape and the lack of clear differentiation for key products.

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BTIG Upgrades DoorDash to Buy
BTIG upgraded DoorDash from neutral to buy, highlighting rideshare as a "scarce pocket of secular growth." They noted ongoing near-term strength and underappreciated long-term drivers, which prompted them to raise estimates. DoorDash is reaching significant milestones, with positive EBIT and net income expected in the second half of the year.

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Bank of America Initiates Coursera as Buy
Bank of America initiated coverage on Coursera with a buy rating, expressing bullishness on the online learning platform. They set a price target of $11, indicating a 44% upside potential.

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