Tuesday’s Biggest Analyst Calls: Nvidia, Tesla, Apple, Meta, Alphabet, Amazon, Rh, Netflix & More

Here are Tuesday’s most notable Wall Street recommendations:

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Goldman Sachs Reiterates Buy Ratings for Alphabet and MetaGoldman Sachs reaffirmed its buy ratings for Alphabet and Meta, citing raised estimates and valuation multiples. The 12-month price target for Alphabet (GOOGL) has been increased from $195 to $211, while Meta's (META) target has been raised from $500 to $522.

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Stifel Initiates Buy Rating on RHStifel initiated coverage on RH, a luxury furniture company, with a buy rating. They acknowledged the company's unique headwinds but expressed confidence in RH's internal growth initiatives, suggesting a strong, undervalued position at current levels.

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Jefferies Reiterates Buy Rating on AmazonJefferies raised Amazon's price target from $225 to $235 per share. Their analysis highlighted that approximately three-quarters of Amazon’s enterprise value comes from its fastest-growing and highest-margin segments, AWS and Advertising.

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TD Cowen Reiterates Buy Rating on NetflixAhead of Netflix's earnings on July 18, TD Cowen raised its price target from $725 to $775 per share. Their consumer survey for Q2 2024 indicated Netflix remains the leading choice for living room viewing, while YouTube dominates mobile viewing.

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Stifel Initiates Buy Rating on Sealed AirStifel expressed optimism about Sealed Air, an air packaging company. Despite stagnant organic volumes since 2014 and weak performance in 2022-23, they believe a turnaround is imminent.

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Piper Sandler Upgrades Bank of America to NeutralAhead of Bank of America's earnings on July 16, Piper Sandler upgraded the stock from underweight to neutral, refreshing their perspective on large banks.

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Bank of America Reiterates Buy Rating on AppleBank of America’s checks revealed increased App Store revenue for Apple. Data from SensorTower indicated a 13% year-over-year growth in developer revenues for the full fiscal quarter, totaling $7.5 billion.

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KeyBanc Reiterates Overweight Rating on NvidiaKeyBanc reiterated its overweight rating on Nvidia, raising the price target from $130 to $180 based on a revised estimate of $5.16 earnings per share for FY26.

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UBS Upgrades Chemours to BuyUBS upgraded Chemours, a chemicals company, from neutral to buy, citing a low valuation and troughing estimates that create an attractive setup.

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Raymond James Upgrades Principal Financial Group to Strong BuyRaymond James upgraded Principal Financial Group from market perform to strong buy, with a target price of $99. They highlighted the company’s high-quality businesses and potential for increased revenue and cash flow.

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Jefferies Initiates Buy Rating on First Citizens BancSharesJefferies initiated coverage on First Citizens BancShares with a buy rating and a price target of $2,005, showing confidence in the regional bank's prospects.

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TD Cowen Initiates Buy Rating on ExscientiaTD Cowen initiated coverage on Exscientia, a biotech company, with a buy rating. They emphasized the potential of Exscientia's novel AI platform and its pipeline of next-generation oncology assets.

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Morgan Stanley Initiates Overweight Rating on Tempus AIMorgan Stanley initiated coverage on Tempus AI, a testing lab company, with an overweight rating. They noted the company’s unique position at the intersection of healthcare and data/AI.

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Wolfe Initiates Outperform Rating on Monday.comWolfe initiated coverage on Monday.com, a workflow solutions software company, with an outperform rating. They highlighted the company’s robust growth potential and ability to expand into new markets while maintaining strong incremental margins.

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TD Cowen Initiates Buy Rating on MarkelTD Cowen initiated coverage on Markel, an insurance company, with a buy rating. They pointed out the growth potential in Markel’s specialty reinsurance business and its diversified income streams from investments and ventures.

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Mizuho Upgrades Regency to OutperformMizuho upgraded Regency, a real estate investment trust shopping center company, from neutral to outperform, citing potential earnings upside for FY24.

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Raymond James Initiates Outperform Rating on First BancorpRaymond James initiated coverage on First Bancorp, a Puerto Rican bank, with an outperform rating and a price target of $21. They believe the bank is well-positioned to benefit from Puerto Rico’s economic resurgence.

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Bank of America Initiates Buy Rating on Smurfit WestRockBank of America initiated coverage on Smurfit WestRock, a packaging company, with a buy rating and a price objective of $56.

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Morgan Stanley Upgrades CRH to OverweightMorgan Stanley upgraded CRH, a building materials company, from equal weight to overweight. They cited factors such as pricing stability, M&A growth opportunities, and attractive verticals post a 14% EV/EBITDA de-rating.

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JPMorgan Upgrades C.H. Robinson to NeutralFollowing earnings, JPMorgan upgraded logistics company C.H. Robinson from underweight to neutral. They noted a positive shift in the company's operating model, suggesting improved consistency.

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Morgan Stanley Reiterates Overweight Rating on TeslaMorgan Stanley reiterated its overweight rating on Tesla. They noted Tesla's increased share of the global battery electric vehicle market, which was 15% in May 2024 compared to 12% the previous month and 16% year-to-date.

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Benchmark Initiates Buy Rating on Jumia TechnologiesBenchmark initiated coverage on Jumia Technologies, a Pan-African marketplace tech company, with a buy rating and a price target of $14, expressing bullishness on the company’s growth prospects.

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