Here are some of Wall Street’s hottest stocks on Monday: UBS renews buy recommendation on NVIDIA UBS said it will continue to hold NVIDIA shares leading up to the company’s earnings release later this month. “Following a series of client discussions and further work on the supply chain, we are slightly adjusting our model, but our price target remains at $150.” Morgan Stanley renews overweight recommendation on Disney The firm said it was bullish on Disney’s Experiences division. “We believe the expansion of the Experiences division is noteworthy given the company’s long-term high and rising ROIC… Last fall, Disney revealed plans to double its capital spending on Experiences assets over the next decade. We now forecast plans for both its U.S. theme parks and cruise ships.” RBC rates Ardent Health outperform RBC said the behavioral health company has a differentiated platform. “We initiate coverage on Ardent Health Partners (NYSE: ARDT) with an Outperform rating and a $23 price target.” Wolf Downgrades Qualcomm to Peer Perform from Outperform Wolf said Apple’s use of internal modems is finally impacting Qualcomm. “We have downgraded QCOM to Peer Perform from OP given our view that AAPL’s internal modems will finally have an impact, premium Android is now normalizing, and IoT growth (which QCOM will likely focus on at its November analyst day) will likely be a harder sell for investors.” Wedbush Reiterates Apple to Outperform Wedbush said he is bullish on the coming iPhone cycle. “With the Street and the tech industry at large building up excitement over the expected launch of Apple’s AI-powered iPhone 16 in September, we believe this upgrade cycle will kick off a much-needed growth renaissance for Cupertino over the coming year, in a recent survey in Asia this week.” Jefferies upgrades PAR Technology to Buy from Hold Jefferies said it is bullish on the stock of the “pure-play” technology platform for restaurants. “PAR has made significant progress towards sustainable profitable growth.” Evercore ISI adds positive tactical outlook to Walmart Evercore said it is bullish on the stock heading into its earnings release later this week. “Amid a storm of consumer volatility, a stable ship provides port. Ahead of the earnings release on August 15, we see Q2 Comp and EPS in line with the market and are confident Walmart can maintain its full year guidance for sales/profits, so we are initiating a positive Tactical Trading Call (TAP).” HSBC recommends buying GE Vernova The firm said it is bullish on the energy company’s shares. “GE Vernova (GEV) is a leading supplier of equipment and services for power generation and transmission/distribution, and we see it positioned to benefit from secular tailwinds in the energy sector. Piper Sandler upgraded Robinhood to overweight from neutral. In upgrading the stock, Piper said it sees an attractive entry point. “We also expect HOOD to benefit from the launch of a new web-based trading platform later this year and the rollout of index options and futures trading.” Goldman Sachs recommended buying General Mills. Goldman said it was bullish on the food company’s shares. “GIS has a high-quality, diversified portfolio that is aligned with current consumer trends, while its exposure to private label risk is better than feared and the company has a solid track record with solid margins relative to peers.”Piper Sandler upgraded TWFG to overweight. Piper said it was bullish on the insurance brokerage’s shares. “We rate TWFG, which has a market cap of $1.06 billion, overweight and a price target of $27 per share.Canaccord upgrades Blend Labs to “buy” from “hold”Canaccord said it was bullish on shares of the mortgage application fintech company. “Blend’s market share, with many of the biggest names in mortgage lending as clients, means it will be a big beneficiary of rising mortgage volumes at this time.” Mizuho Reiterates Micron to Outperform The firm lowered its price target on the stock to $145 from $155 but said it was holding the shares. “We maintain our outperform ratings on MU, STX and WDC, while raising our forecast for MU and lowering our PT to $145 from $155. The recent cut in AI has lowered the market multiple.” Goldman Sachs Recommends Conagra to Buy Goldman said the food company is best positioned. “CAG is a well-positioned frozen and snack portfolio that aligns with current convenience and consumption trends, and its exposure to private label risk appears better than feared.” Morgan Stanley Names Cummins a Top Pick Morgan Stanley said the machinery company is a top idea. “Moved CMI to ‘Top Pick’ and reiterated overweight as its preferred way to play the data center theme in machinery. ” Wells Fargo reiterates Starbucks to overweight Wells said it’s positive the coffee giant continues to attract activist investors. “Starboard will join Elliott in reviving SBUX, according to a report on Friday. Details are unclear, but this is not Starboard’s first restaurant deal, and it adds credibility to the “activist team” and brings it into the scope of operational improvements. We are positive.” Bank of America upgrades Liberty Global to neutral from underperform Bank of America said its assessment of the media stock is becoming more positive. “Liberty announced five strategic moves to unlock value in its shares at its year-end earnings in February.” Wells Fargo raises Prudential and Allstate to equal weight from underweight Wells raised its ratings on both insurance stocks and said it is taking a “more defensive view.” “Orl is performing well in its auto division and we are more constructive on PGR (better growth), but we believe the worst is behind for Orl. PRU has a strong capital position, continued momentum in its key businesses and alternative capital vehicles.” Deutsche Bank upgrades Eli Lilly to Buy from Hold Deutsche Bank upgraded the stock following last week’s earnings. “LLY’s second-quarter 2024 results beat our expectations and the increased receivables eased some concerns amid a volatile macro environment.” Bank of America upgrades Churchill Downs to Buy from Neutral Bank of America said it likes the horse racing company’s growth pipeline. “We are upgrading Churchill Downs (ticker:CHDN) shares to Buy from Neutral and raising our PO to $155 from $145 based on 13x projected 2025 EBITDA.”Bank of America upgrades Coherent to Buy from Neutral Bank of America upgraded semiconductor maker Coherent, saying it viewed the business’s turnaround favorably. “Coherent’s pick for new CEO, industry veteran Jim Anderson, is highly regarded for his turnaround at Lattice Semiconductor.”HSBC upgrades Take-Two to Buy from Hold HSBC upgraded Take-Two, saying the game maker’s outlook is improving. “The outlook for mobile gaming is improving and we are more confident in the revenue outlook given the upcoming launch date for GTA 6, which management has reaffirmed, as well as a solid release plan.”
Wall Street’s top analysts’ conference call on Monday includes Nvidia
By NvidiaDaily
