Wednesday’s Biggest Analyst Calls: Nvidia, Apple, Microsoft, Amazon, Live Nation, Alcoa, Visa, Ferrari, Adobe & More

Here are some of the major analyst calls made on Wall Street this Wednesday:

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Goldman Sachs Reiterates Apple as a Buy

Goldman Sachs continues to recommend buying Apple stock, reaffirming its positive outlook ahead of the tech giant's upcoming iPhone event. However, the firm notes that the stock’s reaction might be subdued.

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The firm emphasized, "We reiterate our Buy rating on AAPL, driven by expectations of new product innovations for the iPhone 16, such as advanced processor technology, larger display sizes, and enhanced camera features, combined with new AI functionalities. These factors should support both upgrades and the growth of Apple's installed user base."

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Morgan Stanley Upgrades Astera Labs to Overweight from Equal Weight

Morgan Stanley upgraded its rating for Astera Labs, an intelligent connectivity platform company, from Equal Weight to Overweight. The firm believes the recent dip in Astera Labs’ stock presents a buying opportunity.

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Morgan Stanley stated, "The growth trajectory remains robust, and the pullback provides an entry point, which is why we are upgrading ALAB to Overweight."

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Compass Point Initiates Visa as a Buy

Compass Point has initiated coverage on Visa with a Buy rating, expressing optimism about the payment company's future prospects.

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The firm commented, "We are initiating Visa as a Buy with a price target of $319."

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Jefferies Initiates GE Vernova as a Buy

Jefferies has initiated coverage on GE Vernova, highlighting the energy company as its top pick.

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The firm noted, "GEV is our top pick, ironically, due to its non-renewable gas business."

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Morgan Stanley Upgrades Ball to Overweight from Equal Weight

Morgan Stanley has upgraded Ball Corporation, a company known for manufacturing jars and lids, from Equal Weight to Overweight. The firm sees an appealing risk/reward scenario.

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The firm explained, "We upgrade BALL to Overweight from Equal Weight as our preferred way to capitalize on the secular growth theme in the beverage can industry."

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Morgan Stanley Upgrades Boyd Gaming to Overweight from Equal Weight

Morgan Stanley has also upgraded Boyd Gaming from Equal Weight to Overweight, citing the gaming company's compelling valuation and stabilizing trends.

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The firm stated, "We upgrade BYD to Overweight due to stabilizing trends, capital return catalysts, and a compelling valuation."

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Goldman Sachs Initiates Invitation Homes as a Buy

Goldman Sachs initiated coverage on Invitation Homes, a real estate investment trust, with a Buy rating. The firm highlighted the company's strong relationships with developers.

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Goldman Sachs commented, "From an external growth perspective, we believe the declining rental supply is creating a unique development environment for companies with large and growing pipelines or strong direct relationships with developers, like INVH."

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Bernstein Initiates Biohaven as Outperform

Bernstein initiated coverage on Biohaven, a pharmaceutical company, with an Outperform rating, citing its strong positioning.

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The firm noted, "We initiate on BHVN with an Outperform rating and a price target of $55."

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JMP Upgrades Sportradar to Market Outperform

JMP upgraded Sportradar Group, a sports bookmaker data company, from Market Perform to Market Outperform, ahead of the upcoming NBA season.

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The firm stated, "We are upgrading shares of Sportradar Group (SRAD) to Market Outperform, from Market Perform, with a $16 price target."

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William Blair Initiates Shift4Payments as Outperform

William Blair initiated coverage on Shift4Payments, a payments company, with an Outperform rating, highlighting its unique offerings.

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The firm commented, "We consider Shift4 unique, operating four complementary businesses: a proprietary gateway, a leading venue payments and ticketing business, an emerging software-enabled POS, and a cross-border business."

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Jefferies Downgrades Booking Holdings to Hold from Buy

Jefferies downgraded Booking Holdings from Buy to Hold due to concerns about nightly bookings.

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The firm explained, "While BKNG offers peer-leading execution and free cash flow, we see stock upside capped by the risk of downside to Room Nights."

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Barclays Reiterates Amazon as Overweight

Barclays reiterated its Overweight rating on Amazon, though it noted that Amazon Prime Days may be losing some of their appeal.

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The firm noted, "Eagerness for Prime Day sales seems to have faded in 2024 compared to the growth seen from 2021 to 2023. However, Prime Big Deal Days are keeping Amazon ahead of its competitors, with significant month-over-month growth in spending per person in October 2023."

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Barclays Downgrades Super Micro to Equal Weight from Overweight

Barclays downgraded Super Micro from Overweight to Equal Weight, citing several negative catalysts.

The firm commented, "We downgrade shares of SMCI following poor gross margins in the June quarter earnings and a 10-K filing delay that evidenced several fundamental risks."

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Morgan Stanley Reiterates Ferrari as Overweight

Morgan Stanley reaffirmed its Overweight rating on Ferrari, noting the luxury vehicle company’s strong performance.

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The firm stated, "There’s something unique about the high-end consumer... With RACE shares up 44% year-to-date, investors have re-rated Ferrari’s price-to-earnings multiple to 50x FY25 due to high earnings visibility, low volatility, and minimal China risk in the luxury segment."

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Wells Fargo Adds Adobe and Microsoft to Signature Picks List

Wells Fargo added Adobe and Microsoft to its Signature Picks list, citing both companies as top ways to capitalize on growth in the software sector, particularly in generative AI and cloud acceleration.

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The firm commented, "Adding ADBE to Wells Fargo’s Signature Picks: Top Way to Play GenAI in Software" and "Adding MSFT to Wells Fargo’s Signature Picks: Poised for Cloud Re-acceleration."

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TD Cowen Upgrades Sweetgreen to Buy from Hold

TD Cowen upgraded Sweetgreen from Hold to Buy, projecting a long runway for growth for the salad company.

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The firm stated, "In our view, Sweetgreen’s same-store sales strength is enduring, and our 2025 projections suggest 5% growth is achievable relative to the current 3.8%."

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Needham Initiates Core Scientific and TerraWulf as Buys

Needham initiated coverage on Core Scientific and TerraWulf, both companies in the blockchain and cryptocurrency space, with Buy ratings, citing their strong positioning.

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The firm commented, "We are initiating coverage of Core Scientific (CORZ) with a buy rating and $16 price target" and "We initiate coverage on TerraWulf (WULF) with a buy rating and $6 price target."

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Melius Reiterates Nvidia as a Buy

Melius reaffirmed its Buy rating on Nvidia, emphasizing the company's focus on margins.

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The firm stated, "Nvidia’s stock is now about margins, and we are optimistic about the outlook for CY2026."

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Bank of America Upgrades Nasdaq and Initiates Live Nation and Trade Desk as Buys

Bank of America upgraded Nasdaq from Underperform to Buy, citing the company’s growth potential, and initiated coverage on Live Nation and Trade Desk with Buy ratings.

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The firm commented, "We are double upgrading Nasdaq (NDAQ) to Buy from Underperform" and "We initiate coverage of Live Nation Entertainment (LYV) and The Trade Desk (TTD) with Buy ratings."

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KeyBanc Upgrades nVent Electric to Overweight

KeyBanc upgraded nVent Electric to Overweight from Sector Weight, noting the company’s potential in the electric heat solutions market.

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The firm explained, "Following the recent pullback in shares and our analysis of the Liquid Cooling landscape, we are upgrading NVT to Overweight with an $80 price target."

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UBS Upgrades Freeport-McMoRan to Buy

UBS upgraded Freeport-McMoRan to Buy, citing a favorable outlook for copper.

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The firm stated, "We upgrade FCX to Buy as we believe the fundamental outlook for copper remains compelling, and positioning is cleaner after the 3Q price correction."

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Wolfe Upgrades Alcoa to Outperform

Wolfe upgraded Alcoa to Outperform, making it a new top pick among miners.

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The firm commented, "We upgrade to Outperform on a better alumina outlook and more positive catalysts than negative after a sharp selloff. AA becomes our new top pick among miners."

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Deutsche Bank Initiates Star Bulk Carriers and Genco Shipping as Buys

Deutsche Bank expanded its coverage of international maritime shipping companies, initiating coverage on Star Bulk Carriers and Genco Shipping with Buy ratings.

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The firm noted, "We are expanding our coverage universe of international maritime shipping companies with the initiation of Star Bulk Carriers (SBLK) and Genco Shipping & Trading (GNK)."

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Guggenheim Initiates Talen Energy as a Buy

Guggenheim initiated coverage on Talen Energy with a Buy rating, citing the power producer's favorable positioning.

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The firm stated, "We are launching coverage of Talen with a Buy rating and $169 price target ahead of tomorrow’s investor day in NYC."

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Needham Downgrades ResMed to Hold from Buy

Needham downgraded ResMed from Buy to Hold, citing concerns about the impact of obesity drugs on the sleep apnea device company.

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The firm commented, "We continue to expect a modest headwind from GLP-1 drugs but acknowledge that there is a risk it could be worse than we expect. We think that RMD's flow generator share gains have peaked, and that mask share gains may be more challenging."

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