Here are some stocks to watch on Wall Street on Thursday: Stifel downgrades Simon Property Group to hold from buy Stifel downgraded the real estate investment trust company, primarily due to valuation. “SPG will likely see growth hampered by bankruptcies and store closures, but retail demand and lease leverage will be stronger in productive centers.” Wells Fargo names Blackstone & Apollo a top pick Wells named several alternative asset managers top picks, calling them “best-kept secrets.” “Top picks: TPG, SF, APO, BX.” Wells Fargo names BlackRock overweight Wells Fargo said the asset manager is well positioned. “BLK is a clear industry leader, generating stable fund flow, revenue and margin results, and recent M&A supports its growth profile.” Stevens names Carvana overweight Stevens called the online used car company a “category killer.” “We are beginning to cover Carvana Co. (CVNA) with an OW rating and a $190 price target.” Bernstein again mentions NVIDIA and Broadcom as top ideas Bernstein said both stocks remain his firm’s top picks and that margin concerns are overdone. “And with Blackwell’s delays seemingly insignificant, we believe the new platform can continue to drive the upside and margin concerns are overblown (AVGO and NVDA are OP-rated).” Bernstein again mentions Oracle as a top idea Bernstein said he expects “augmented revenue growth” from Oracle. “Oracle is our best investment idea given the combination of 1) downside protection from a combination of very large customers and critical enterprise workloads, and 2) incremental revenue growth from Oracle’s cloud services.” Bank of America upgrades Diageo to Buy from Neutral In upgrading Diageo, Bank of America said the worst is over for the British drinks company. “After two years of earnings downgrades and a weak share price, we believe the worst is over.” Barclays rates Flutter Overweight Barclays said Flutter is the “undisputed leader” in the digital gaming space. “A compelling combination of product competitiveness, unmatched scale and global TAM (total addressable market) opportunities await. We begin coverage of FLUT with OW.” Morgan Stanley rates Amazon, Alphabet and Meta Overweight Morgan Stanley said the three internet giants are well-positioned to dominate the advertising market. “The US advertising market will remain strong in 2024, driven by performance advertising across digital media, e-commerce-driven retail media and CTV. On the internet side, we recommend OW’s META/GOOGL/AMZN.” Goldman Sachs rates FedEx Overweight Goldman said FedEx is best positioned heading into next week’s earnings report. “Revisiting the sum of the components valuation chart shows the stock becomes even more attractive.” Jefferies renews McDonald’s buy recommendation Jefferies said the fast-food giant is best positioned heading into the back-to-school season. “In our view, MCD is best positioned heading into the promotion-heavy back-to-school season.” UBS renews Costco buy recommendation UBS said it is bullish on Costco heading into its earnings report due later this month. “COST’s upcoming Q4 report should signal stability.” Bank of America upgrades PotlatchDeltic to Buy from Neutral Bank of America said it expects margin expansion for the lumber company. “While fundamental catalysts may be lacking in the near term, PCH offers 20%+ total upside potential to our $51 PO.” Wolf upgrades Roku to Outperform from In-line with Peers Wolf said Roku’s “revenue growth is poised to accelerate. However, given the company’s recent cost structure reductions, evolving sales strategy, and success in maintaining its leadership in connected TV (“CTV”), we believe Roku’s fundamental risks are receding and revenue growth should accelerate.” Morgan Stanley reiterates Overweight on Apple Morgan Stanley named Apple to its Vintage Values list as a stock to hold for the next 12 months. “Combined with consistent double-digit services growth and flat-to-expanding gross margins, we are confident Apple can generate earnings power of $8.70 in fiscal ’26, 7% above consensus estimates.” Raymond James Reiterates Micron to Outperform The firm lowered its price target to $125 from $160 a share but said it is maintaining the stock. “High-bandwidth memory (HBM) for AI applications represents an incremental opportunity for the company and we expect Micron to gain a commensurate share over time.”
