Aniket PujariHere are Thursday’s biggest calls on Wall Street: Truist initiates FedEx and UPS as buy The firm initiated the shipping giant’s with a buy and says both are extremely well positioned. “At the same time, we believe that FDX’s and UPS’ growing retail footprint across the country provide them with an edge around handling returns as well as third party logistics services for SMBs [small mid size business]. Citi reiterates Boeing as buy Citi said shares of the company are undervalued at current levels. “We reiterate our Buy rating on Boeing. We believe the market is undervaluing Boeing’s long-term growth potential, pricing in less than 1% FCF growth in perpetuity.” Citi initiates BioNTech as buy Citi said in its initiation of BioNTech that it sees a slew of positive catalysts ahead. “A packed oncology pipeline across three modalities provides multiple entry points.” Canaccord initiates Planet Fitness as buy Canaccord initiated the fitness company with a buy and said it’s a “a growth story 33 years in the making.” “One investor gripe is whether PLNT can return to its pre-pandemic unit growth of 200+ new clubs per year. We think it can and should happen sooner than later.” D.A. Davidson upgrades Microsoft to buy from neutral D.A. said the stock is “best equipped” for what’s ahead. “We are upgrading shares of Microsoft to a BUY rating and raising our price target to $450 from $425, as we believe Microsoft has moved to a more rational capex strategy and is the best positioned Mag6 for a slowing consumer.” Bank of America reiterates Marvell as buy Bank of America said the stock looks “attractive” ahead of a slew of positive catalysts. “We maintain Buy and continue to view MRVL as a top-3 vendor of AI silicon along with NVDA and AVGO. MRVL stock looks attractive at 25x NTM [next twelve months] PE vs 32x historical median, with catalyst in coming tradeshows (OFC) and June analyst day.” Bank of America upgrades Intel to neutral from underperform The firm upgraded Intel after the announcement of a new CEO. “Upgrade to Neutral and raise PO to $25 on new CEO solid track record, improved opportunity for turnaround.” Barclays downgrades American Eagle to underweight from equal weight Barclays downgraded the stock over concerns about weaker teen spending. “We are downgrading shares of AEO based on: 1) weakening consumer, 2) growing uncertainty of tariff impact, 3) weak mall traffic necessitating promotions to drive conversion…” KeyBanc reiterates Apple as underweight KeyBanc said the firm’s survey checks show spending “data overall appears negative as Apple is tracking below historical seasonality, and the y/y growth went from nicely positive to a sharp decline.” “We remain UW AAPL and reiterate our $200 PT.” JPM upgrades Iren to overweight from neutral JPMorgan upgraded the bitcoin miner and says shares are attractive. “We are moving to OW IREN , which has been overly punished YTD (down ~30%), in our view, and see ~70% upside at current levels, which could prove conservative if the company announces an HPC [high performance computing] deal with a name-brand tenant.” Bank of America reiterates Seagate as buy The firm lowered its price target on the stock to $112 per share from $130 but says it’s standing by the stock and sees a “strong industry backdrop.” “Our top-down analysis suggests some upside vs Street numbers to revenues and more upside to STX margins.” Wells Fargo reiterates Micron as overweight Wells lowered its price target on the stock to $130 per share from $140 but said shares are “compelling” ahead of earnings on “Our Overweight rating on Micron reflects 1) a more disciplined DRAM supply vs. demand environment; positive bit demand drivers (server CPU cycle, continued PC strength, 5G smartphones, consoles, etc.), 2) stronger-than-appreciated demand-side considerations driven by next-gen technologies…” Wells Fargo reiterates Amazon as overweight Wells said investors should buy the dip in shares of the e-commerce giant. “While eCommerce is squarely in the crosshair of the recent macro uncertainty driven, in part, by concerns around tariff impact on consumer spending, we believe the pullback in AMZN shares presents an attractive opportunity.” Raymond James initiates Mister Car Wash as outperform The firm said it’s bullish on shares of the car wash company. “We are initiating coverage of Mister Car Wash (MCW) with an Outperform rating and a $10 price target (~27% upside).” Goldman Sachs initiates Corteva and Mosaic as buy Goldman initiated several agriculture stocks on Thursday and says they are “defensive.” “We believe the ag macro is still in the process of settling lower from the peak caused by the Russia/Ukraine War. … However, we believe the drift towards normalized levels will continue later this year. 3) Thus, we are more positive on defensive stocks (Buys on CTVA and FMC) and value stocks (Buy on MOS ).” Bernstein reiterates Netflix as outperform Bernstein called the stock “quality for sale.” “Netflix stock is down > 10% from its peak in February after reporting their blowout Q4’24 quarter. Though the stock bounced back a bit this week, near-term macro uncertainties could lead to continued volatility, creating an opportunity for an attractive entry point.” UBS upgrades Southern Copper to buy from neutral UBS said shares of the copper company have an attractive risk/reward. “We upgrade Southern Copper (SCC) to Buy (from Neutral), keeping our target unchanged at $120/s.” Morgan Stanley downgrades Moelis & Co to underweight from overweight The firm downgraded the investment bank and says the stock has “de-rated.” “Downgrading Moelis (MC) to Underweight from Overweight: We view MC as a way to play the bull case, which is now lower in probability. MC is the highest earnings beta stock in our coverage, as it has the highest comp ratio among peers.” Morgan Stanley upgrades Houlihan Lokey to overweight from underweight The firm said the investment bank is defensive. “We are adding HLI as an Overweight as a more defensive play. HLI has less earnings volatility in a bear case scenario given 1) its strong adjusted compensation ratio management, which has held flat at 61.5% every quarter for the last 3 years and 2) its more resilient revenue mix.” RBC upgrades Wells Fargo to outperform from sector perform RBC said it sees a compelling entry point for the stock. “The recent stock price decline gives investors an opportunity to buy WFC’s stock. WFC, under the leadership of CEO Charlie Scharf, has executed on its plan to satisfy all its regulatory issues while increasing profitability.” Jefferies reiterates Nvidia as buy The firm said it’s bullish ahead of the company’s AI conference next week and that the chip giant is well positioned for CPO [co-packaged optics] which is a data transmission technology used in AI. “NVDA – Remains Kingmaker; Quickly Becoming a Leader in CPO: Nvidia’s position as a full system provider serves as considerable strategic advantage during periods of technological transitions.”
