Wednesday’s Biggest Analyst Calls of the Day: Nvidia, Apple, Target, Super Micro & More

Wednesday's Biggest Analyst Recommendations

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Deutsche Bank Upgrades Moderna to Hold from SellDeutsche Bank has revised its stance on Moderna, moving it from a sell to a hold rating. The bank perceives a more balanced risk/reward scenario for Moderna's shares, which prompted the upgrade. The bank noted, “a more troublesome Winter’s Tale, but up to Hold.”

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BTIG Upgrades TrueCar to Buy from NeutralBTIG has expressed a bullish outlook on TrueCar, an automotive pricing internet company. They have upgraded the stock from neutral to buy, setting a price target of $3.75. The firm stated, “We are upgrading TRUE shares to BUY from Neutral with a $3.75 PT.”

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Seaport Upgrades Sphere to Buy from NeutralSeaport sees an attractive entry point for Sphere Entertainment, a Las Vegas-based entertainment company. Consequently, they have upgraded the stock to buy from neutral. Seaport highlighted, “Sphere Entertainment is another preferred experience economy stock that has gone on sale during the market drawdown.”

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Baird Upgrades Builders First Source to Outperform from NeutralBaird upgraded Builders First Source, a building materials company, from neutral to outperform. Baird believes the company is well positioned with guidance reset and key headwinds fading in 2025. They mentioned, “With guidance reset and key headwinds/overhangs set to fade in 2025, we see a good setup for BLDR.”

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Barclays Downgrades Retail Sector to Neutral from PositiveBarclays downgraded the retail sector to neutral from positive due to increasing promotional activities suggesting weakening demand. Barclays stated, “We downgrade Retail to Neutral from Positive on erosion of inventory margin recapture as promos intensify and demand weakens.”

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TD Cowen Downgrades Molson Coors to Hold from BuyTD Cowen downgraded Molson Coors to hold from buy, citing loss of market share gains. The firm lowered its price target to $58, explaining, “We downgrade Molson Coors to Hold and lower our PT to $58.”

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Wells Fargo Downgrades Amgen to Equal Weight from OverweightWells Fargo downgraded Amgen from overweight to equal weight, stating that the investment thesis has played out. Wells Fargo noted, “Thesis played out. Risk/Reward not compelling enough to stick with the Overweight rating.”

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B. Riley Downgrades TripAdvisor to Neutral from BuyB. Riley downgraded TripAdvisor to neutral from buy due to deteriorating growth. They observed, “We’re downgrading TripAdvisor, Inc. from Buy to Neutral to reflect a deterioration in Core (i.e., Brand Tripadvisor) revenue growth and margins, implied in management’s outlook.”

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Piper Sandler Reiterates Advanced Micro Devices and Nvidia as OverweightPiper Sandler reiterated their overweight rating on AMD and Nvidia, highlighting them as top picks within the semiconductor space. Piper Sandler stated, “We include names that we see benefiting the most from secular shifts set to take place over the coming 1-3 year time horizon. These include NVDA and AMD within the compute space as well as ON given its exposure to silicon carbide.”

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Citi Adds a Positive Catalyst Watch on Amer SportsCiti has put Amer Sports on a positive catalyst watch, viewing the sporting goods company as having an attractive risk/reward balance. Citi commented, “With shares down 25% since late June on fears of a China slowdown, we believe the risk/reward is favorable into 2Q EPS. We are opening a 30-day positive catalyst watch.”

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Wells Fargo Upgrades Globus Medical to Overweight from Equal WeightWells Fargo upgraded Globus Medical to overweight from equal weight, citing better-than-expected integration with NuVasive. Wells Fargo stated, “We are upgrading GMED from Equal Weight to Overweight and increasing our price target from $60 to $78 as the integration with NuVasive is progressing better than we expected.”

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Wells Fargo Names Uber a Top PickWells Fargo reiterated Uber as a top pick following its earnings report. They believe the company's performance in the second half of the year will address bear case concerns. Wells Fargo noted, “Uber remains top 2H pick. See bear case of decel and AV terminal risk largely being addressed by YE24. View 2Q results/3Q guide as refuting decel fears.”

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Raymond James Initiates Natural Gas Services Group as Strong BuyRaymond James initiated coverage of Natural Gas Services Group with a strong buy rating, emphasizing its position in the U.S. natural gas compression market. Raymond James commented, “Natural Gas Services Group (NGS) is a leading provider of contract natural gas compression in the U.S.”

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TD Cowen Initiates Abacus Life as BuyTD Cowen initiated coverage on Abacus Life, a life settlements provider, with a buy rating and a price target of $14, indicating significant upside potential. TD Cowen stated, “We initiate coverage of leading life settlements provider, Abacus Life (ABL), at Buy with a price target of $14, implying 51% upside potential.”

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Bank of America Reiterates Apple as BuyBank of America reiterated its buy rating on Apple, citing strong App Store revenue. Bank of America noted, “Data from Sensor Tower indicates that Global App Store revs remain strong, Global revenue increased +11% y/y in July.”

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Citi Reiterates Target as BuyCiti maintained its buy rating on Target, anticipating favorable conditions heading into the earnings report on August 21. Citi explained, “Based on our quant team’s crowding analysis, the stock is significantly less crowded from a long perspective than it was prior to 1Q earnings, and we believe investor skepticism has risen. As a result, and because the stock is down 11% MTD, we believe the setup is favorable going into earnings.”

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Bank of America Downgrades Super Micro Computer to Neutral from BuyBank of America downgraded Super Micro Computer to neutral from buy, expecting margin pressure following the earnings report. Bank of America observed, “Despite overall higher revs in F25, GM gets back into the normal range (14-17%) only gradually by the end of F25 as manufacturing efficiencies improve and SMCI ships more liquid-cooled racks, as customer mix improves.”

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Bank of America Reiterates Rivian as BuyBank of America maintained its buy rating on Rivian, stating confidence in the company's product and strategy post-earnings. Bank of America noted, “RIVN still in the right place/time with the right product/strategy.”

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Goldman Sachs Reiterates Sunrun as BuyGoldman Sachs reiterated its buy rating on Sunrun, anticipating strong cash generation to continue supporting market share gains. Goldman Sachs stated, “Looking ahead, we expect this strong cash flow to support continued market share gains.”

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Bernstein Upgrades Arm to Market Perform from UnderperformBernstein upgraded Arm to market perform from underperform, citing a revised valuation perspective. Bernstein mentioned, “With Arm’s share price down ~40% in four weeks and more confidence in mobile royalty growth, we find the need to review our valuation argument.”

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Mizuho Upgrades Vertiv to Outperform from NeutralMizuho upgraded Vertiv to outperform from neutral, highlighting robust fundamentals despite a cooling in AI valuations. Mizuho stated, “Upgrading VRT to Outperform - Fundamentals Still Hot Despite Cooling AI Valuations.”

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Deutsche Bank Upgrades Aramark to Buy from HoldDeutsche Bank upgraded Aramark to buy from hold, noting improvements in the company’s narrative. Deutsche Bank commented, “We are upgrading ARMK to Buy from Hold and raising our PT to $39 (from $36).”

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