The most talked about and market moving research calls around Wall Street are now in one place. Here are today’s research calls that investors need to know, as compiled by The Fly.
Loop Capital upgraded Royal Caribbean (RCL) to Buy from Hold with an unchanged price target of $250. The outlook offered at the company’s analyst day is better than expected, and the firm recommends taking advantage of the pullback in the stock, noting the shares have traded nearly 15% lower since its initiation last month.
Wells Fargo upgraded Molina Healthcare (MOH) to Overweight from Equal Weight with a price target of $372, up from $295. The firm says its analysis of Medicaid policy leaves it “increasingly comfortable” that Medicaid stocks “have adequately priced in risks of reasonably likely legislative outcomes.”
JPMorgan upgraded Intuit (INTU) to Overweight from Neutral with a price target of $660, up from $640. The shares have underperformed to such an extent that the stock currently trades below where it was 3.5 years ago when the term “transitory inflation” was retired in November 2021, the firm tells investors in a research note.
UBS upgraded Arista Networks (ANET) to Buy from Neutral with a price target of $115, up from $112, representing 34% potential upside over the next 12-months. The upgrade is supported by the view that the company’s investments in data center capex will remain strong, growing at 25% annually through 2027, the firm tells investors in a research note.
Guggenheim upgraded GE Vernova (GEV) to Buy from Neutral with a $380 price target. While noting that the stock has declined significantly since mid-January, the firm tells investors that recent commentary from the company has increased the firm’s comfort with projections.
Arete downgraded AppLovin (APP) to Sell from Neutral with a $200 price target. The firm sees risks to AppLovin’s e-commerce growth story, saying it is “failing to provide compelling” return on ad spend at scale across typically low quality, long-tail mobile gaming ad inventory.
HSBC downgraded T-Mobile (TMUS) to Hold from Buy with a price target of $270, up from $260. Without more information related to yet-to-be-completed acquisitions, HSBS sees limited valuation upside at current share levels.
Needham downgraded Beyond (BYND) to Hold from Buy and removed its prior $9 price target, citing the significant reduction it has made in its revenue estimates over the past six months.
Barclays downgraded Sunnova Energy (NOVA) to Equal Weight from Overweight with a price target of $1, down from $9. The firm says the company’s liquidity issues render it difficult to operate the business this year due to the various requirements on the different credit facilities.
Morgan Stanley downgraded Tandem Diabetes (TNDM) to Equal Weight from Overweight with a price target of $22, down from $45. The firm was “surprised” by Tandem’s “underwhelming” guidance calling for only mid-single digit growth on the topline and in U.S. new patient shipments with seemingly very little, if any, contribution from Type 2 label expansion and pharmacy access.