Tuesday’s Biggest Analyst Calls: Nvidia, Disney, Walmart, Apple, Arista, Ford, Rivian, Block & More

Here are the notable calls on Wall Street from Tuesday:

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Benchmark initiated coverage on Block, formerly known as Square, with a buy rating, citing a perceived "path to profitability." The recent positive momentum in the stock is expected to persist due to the management's increased focus on profitability.

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Loop initiated coverage on construction materials company Knife River with a buy rating, emphasizing a "self-help catalyst path." The buy rating comes with a $81 price target based on 11 times the FY25E EBITDA of $475 million.

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Goldman Sachs reiterated a buy rating on Arista Networks, labeling it as an AI winner after its recent earnings report. Despite not raising the outlook for 2024 revenue growth, the current guidance is believed to not reflect the potential benefits from recent increases in the 2024E outlook for hyperscaler capex.

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Morgan Stanley initiated Ford as a top pick, indicating that the continued slowdown in electric vehicle (EV) demand might prompt legacy OEMs to explore cost-saving measures.

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Morgan Stanley initiated coverage on software stock Dynatrace with an equal weight, suggesting that while share gains are expected to continue, patience is required due to the company's strong technology, product breadth, and consolidation opportunities.

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Redburn Atlantic Equities downgraded United Airlines to neutral from buy, expressing concerns about inflationary pressures and a reassessed view adding caution to long-haul supply.

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UBS raised its price target on Nvidia to $850 per share from $580, expressing bullish sentiments heading into the earnings report.

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Evercore ISI initiated coverage on renewable energy company NextEra Energy Partners with an outperform rating, citing a turning tide in the industry.

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Susquehanna reiterated a positive rating on Taiwan Semiconductor, emphasizing its position as one of the top long ideas.

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Piper Sandler upgraded Trimble to overweight from neutral, foreseeing a software-centric bull case where recurring revenue becomes the majority of the mix, delivering double-digit organic growth.

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B Riley downgraded Children's Place to sell from hold, expressing concerns about the company being in a "cycle of distress" and predicting a high probability of a share price decrease to $4 or less in the next 12 months.

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Bernstein reiterated Apple as market perform, noting the company's pricing power in Apple Services like Apple Music and Apple TV+.

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Morgan Stanley reiterated an overweight rating on Disney, highlighting the low-risk nature of Disney's participation in a sports streaming bundle.

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Deutsche Bank reiterated Walmart as a buy, raising its price target on the stock ahead of earnings to $190 per share from $186.

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Citi upgraded GSK to buy from neutral, citing the pharmaceutical company's recent commercial and pipeline successes.

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Evercore ISI upgraded Equifax to outperform from in line, anticipating headwinds to abate for the credit company.

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Morgan Stanley added Huntington Bancshares to its Financials' Finest list, designating it as a top pick in US Midcap Banks.

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Evercore ISI initiated coverage on Quanta Services with a buy rating, optimistic about the infrastructure construction company benefiting from the multi-decade-long energy transition in North America.

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Bank of America downgraded Duckhorn Portfolio to underperform from neutral, citing a slowdown in the premium wine segment.

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Stephens initiated coverage on medical joint replacement company Enovis with an overweight rating, considering the shares compelling.

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Cantor Fitzgerald initiated coverage on Israeli 3D printing company Stratasys with a buy rating, expecting accelerated growth due to new product cycles and industry pent-up demand.

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Morgan Stanley reiterated an overweight rating on Rivian, acknowledging the need for substantial funding to complete and ramp up its Georgia plant.

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