Tuesday’s Biggest Analyst Calls: Apple, Costco, Nvidia, Palantir, Broadcom, Tesla, Amazon, Meta & More

On Tuesday, several major Wall Street firms issued important stock ratings and calls, highlighting a range of companies across various sectors. These calls reflect the analysts' perspectives on the growth potential and risks associated with these businesses.

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Apple: Morgan Stanley Reiterates Overweight Rating

Morgan Stanley maintained its overweight rating on Apple, signaling continued confidence in the tech giant following the company's iPhone 16 event. The event, which took place on Monday, revealed several key updates, including advancements in Apple’s Intelligence rollout, a new Visual Intelligence feature, and the pricing details for the iPhone. Morgan Stanley remains optimistic about Apple’s growth potential, with the iPhone being a central part of the company's strategy.

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Tesla: Deutsche Bank Resumes Buy Rating

Deutsche Bank resumed its coverage of Tesla, issuing a buy rating and reinforcing its view that Tesla is in a league of its own. The firm considers Tesla a top pick, driven by its leadership in various industries such as automotive, energy, mobility, and robotics. Deutsche Bank highlighted Tesla's capacity to reshape these sectors, making it a high-conviction choice for investors looking for long-term growth.

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GE Aerospace: Bernstein Initiates Outperform Rating

Bernstein initiated coverage of GE Aerospace with an outperform rating, noting that the company is entering a commercial aviation market at an unusually favorable time. With a target price of $201, Bernstein sees strong growth prospects for GE Aerospace as the aviation industry continues to recover and evolve.

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e.l.f. Beauty: B. Riley Initiates Buy Rating

B. Riley initiated coverage of e.l.f. Beauty with a buy rating, describing the company as a “high-quality growth story.” With a 12-month price target of $175, the firm is bullish on e.l.f.’s ability to expand and capture market share in the competitive beauty industry.

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Stryker: Wolfe Initiates Outperform Rating

Wolfe Research initiated coverage on Stryker, a leading medical technology company, with an outperform rating and a target price of $405 by the end of 2025. The firm’s positive outlook on Stryker is driven by its belief in the company's strong fundamentals and growth potential in the med-tech space.

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Anheuser-Busch InBev: Morgan Stanley Reiterates as a Top Pick

Morgan Stanley reaffirmed Anheuser-Busch InBev as a top pick, emphasizing its optimism about the company’s business turnaround and premiumization trends. The firm believes these factors will contribute to earnings per share (EPS) acceleration in the long term, supported by the company's lower valuation compared to peers.

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Oracle: JMP Securities Upgrades to Market Outperform

JMP Securities upgraded Oracle from market perform to market outperform, highlighting the company's accelerating growth. The firm pointed out that Oracle’s revenue growth has reentered double digits, driven by its expansion as a strategic cloud platform.

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Costco: Redburn Downgrades to Neutral

Redburn downgraded Costco from buy to neutral, expressing concerns about the current risk/reward profile. While the firm acknowledges Costco’s continued market share gains and strong earnings growth, it believes the stock’s valuation, currently trading at 50 times earnings for fiscal year 2025, has become too stretched for favorable returns at this point.

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Equity Residential: Deutsche Bank Upgrades to Buy

Deutsche Bank upgraded Equity Residential, a real estate investment trust (REIT), from hold to buy, citing the company’s strong position in the coastal real estate market. The firm raised its price target to $83, noting that the improving cost of capital is likely to make future acquisitions more profitable over the next 12 to 18 months.

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Haemonetics: BTIG Initiates Buy Rating

BTIG initiated coverage of Haemonetics with a buy rating, praising the company’s growth prospects in the medical technology sector. The firm highlighted Haemonetics’ diverse business segments, including Plasma Solutions, Blood Center, and Hospital Care Solutions, as key drivers of its future success.

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Palantir: Bank of America Reiterates Buy Rating

Bank of America reiterated its buy rating on Palantir, raising its price target from $30 to $50 per share. The firm believes Palantir’s potential inclusion in the S&P 500 could be a significant moment for institutional investors to reconsider the stock, given the company’s expanding influence in the technology space.

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Amazon: UBS Names Top Pick

UBS reaffirmed its confidence in Amazon, naming it a top pick among e-commerce companies. The firm noted that Amazon is well-positioned for gross merchandise value (GMV) growth due to its focus on fulfillment regionalization, which is expected to lead to faster delivery times and improved customer service, alongside better segment margins.

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Harmony Biosciences: UBS Initiates Buy Rating

UBS initiated coverage of Harmony Biosciences with a buy rating, expressing optimism about the company’s potential in the biotech industry. Harmony specializes in treatments for central nervous system (CNS) disorders, and UBS believes the company is well-positioned for growth as it advances its product pipeline.

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Nutrien: Goldman Sachs Downgrades to Neutral

Goldman Sachs downgraded Nutrien from buy to neutral, citing risks to the agricultural company’s earnings. The firm lowered its 12-month price target from $69 to $53, signaling concerns about the company's near-term financial performance.

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MKS Instruments: Cantor Fitzgerald Initiates Overweight Rating

Cantor Fitzgerald initiated coverage of MKS Instruments with an overweight rating, praising the company’s strong portfolio in the instruments and process control solutions market. The firm set a price target of $140, reflecting confidence in the company’s long-term growth potential.

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Nvidia and Broadcom: Melius Reiterates Buy Ratings

Melius reiterated its buy ratings on both Nvidia and Broadcom, stating that the valuations for both stocks remain attractive. The firm continues to see compelling opportunities for investors in both companies, especially given their leadership positions in key technology sectors.

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Johnson Controls: Bank of America Upgrades to Buy

Bank of America upgraded Johnson Controls from neutral to buy, highlighting the company’s strong data center assets. The firm believes that the combination of Johnson Controls’ data center exposure, attractive valuation, and upcoming leadership changes make it a solid investment opportunity.

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ProKidney: Guggenheim Initiates Buy Rating

Guggenheim initiated coverage of ProKidney with a buy rating, expressing optimism about the biotech company’s leadership and potential in the healthcare space. With a price target of $6, Guggenheim is confident in ProKidney’s ability to make significant advancements in its field.

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Meta: D.A. Davidson Initiates Buy Rating

D.A. Davidson initiated coverage of Meta, issuing a buy rating and setting a price target of $600. The firm highlighted Meta’s leadership in emerging technology platforms, noting that its strong position in the mega-cap space makes it an attractive investment.

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