Tuesday’s Biggest Analyst Calls: Netflix, Apple, Ibm, Coinbase, Nike, Domino’s, Meta, Charles Schwab & More

Tuesday witnessed significant calls on Wall Street across various stocks:

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Raymond James Initiates Crescent Energy (CRGY) as Strong Buy:

Raymond James initiated Crescent Energy with a strong buy rating, highlighting the company's advantageous position, particularly in the Uinta and Eagle Ford shale plays. Crescent Energy's robust base decline rate of approximately 20% was emphasized.

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Piper Sandler Downgrades Albemarle (ALB) and Livent (LTHM) to Underweight:

Piper Sandler downgraded Albemarle and Livent, expressing concerns about a substantial deterioration in global lithium markets. The ratings were revised to underweight from neutral.

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Goldman Sachs Reiterates Nike (NKE) as Buy:

Following a transfer of analyst coverage, Goldman Sachs reaffirmed Nike as a buy. The analysis pointed to an improving growth outlook for Nike shares, expecting earnings growth amid cost recapture and a strengthening marketplace inventory backdrop.

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Bank of America Downgrades UBS (UBS) to Neutral:

Bank of America downgraded UBS to neutral from buy, citing significant challenges expected in 2024. While acknowledging the benefits of the Credit Suisse acquisition, the bank foresees a prolonged period of substantial efforts in 2024.

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Roth MKM Initiates Hyster-Yale (HY) as Buy:

Roth MKM initiated coverage on Hyster-Yale with a buy rating and a $85 target, emphasizing that the material handling company is significantly undervalued. Hyster-Yale is recognized as one of the largest players in material handling with sales exceeding $4 billion.

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UBS Downgrades United Rentals (URI) to Neutral:

UBS downgraded United Rentals to neutral, indicating a more balanced risk/reward assessment. While expecting EBITDA growth in 2024 and 2025, UBS sees a balanced risk profile, considering both organic growth and acquisitions.

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UBS Reiterates Apple (AAPL) as Neutral:

UBS reiterated its neutral stance on Apple, pointing to a 10.7% year-over-year increase in November revenue from the App Store. The analysis aligns with consistent revenue growth observed in September and October.

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TD Cowen Names NXP Semiconductors (NXPI) a Top Pick:

TD Cowen highlighted NXP Semiconductors as its top pick for 2024, emphasizing the company's best-in-class auto franchise and consistent capital returns, which are perceived to be overlooked by investors.

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JPMorgan Upgrades XP (XP) to Overweight:

JPMorgan upgraded XP to overweight, revising the 24-year-end price target to $30 per share, indicating approximately 30% upside potential. The LatAm tech company is viewed as having significant upside potential.

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Bank of America Reiterates IBM (IBM) as Buy:

Bank of America raised its price target on IBM to $170 per share from $155, citing a favorable setup heading into 2024. The focus on software and consulting remains key growth vectors for IBM.

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These calls on Wall Street represent a diverse range of sectors and companies, reflecting various factors influencing the investment landscape. Analysts are closely monitoring economic conditions, industry trends, and company-specific developments to provide insights and recommendations to investors.