Stephens has raised its rating on Wayfair (W) from equal weight to overweight, attributing this shift to a resurgence in EBITDA profitability. Wayfair’s successful execution of a $1.4 billion cost savings plan also played a role in the upgrade. Stephens now sets a target price of $105, up from $34.
Bank of America continues to advocate for Amazon (AMZN), maintaining its buy rating. The bank has also lifted the target price from $154 to $174. Post the company’s recent earnings report, they project continued margin benefits and potential acceleration in AWS.
Bank of America is sticking with its underperform rating for Coinbase (COIN), despite the company’s recent earnings beat. The bank has a conservative stance on Coinbase shares due to factors unrelated to volume, such as price/mix.
Apple (AAPL) retains its overweight rating from Morgan Stanley. Despite slight miscalculations regarding iPad and Mac performance in the September quarter, the bank remains bullish on the tech giant’s prospects.
Morgan Stanley recommends seizing the opportunity provided by the dip in Advanced Micro Devices (AMD) shares and reiterates an overweight rating.
Rosenblatt has downgraded Apple (AAPL) from buy to neutral due to a perceived slowdown phase. The bank still holds a price target of $198.
Amazon (AMZN) gets an upgrade from Rosenblatt, with the stock moving from neutral to buy. The bank has eased concerns about consensus views and is now focusing on efficiency and AI as key drivers for retail and cloud.
Citi has promoted Intercontinental Exchange (ICE) from neutral to buy after a strong 2Q23 performance. Although a lower mortgage technology recurring revenue guide led to a dip in stock price, Citi notes improvements across the platform.
Shake Shack’s (SHAK) rating has been boosted by Raymond James from market perform to outperform, following impressive 2Q results.
Goldman Sachs holds its neutral stance on Virgin Galactic (SPCE) shares, citing long-term demand potential against supply, pricing, and margin concerns.
Restaurant Brands (QSR), the owner of brands like Tim Horton’s and Burger King, continues to be a top pick for Oppenheimer. They highlight strong sales drivers, accelerating global unit growth, and earnings upside potential as key factors.
TD Cowen downgrades Moderna (MRNA) to market perform from outperform, pointing to a lack of near-term catalysts. They suggest waiting for clarity on the COVID trajectory in the fall/winter season.
Five Below (FIVE) maintains its outperform rating from Oppenheimer, with the success of the recently released “Barbie” film cited as a potential incremental positive sales driver.
Citi has opened a positive catalyst watch on Apple (AAPL), anticipating potential upside ahead of the company’s expected iPhone 15 series release in September 2023.
Generac (GNRC) gets an upgrade from Truist, moving from hold to buy. Truist sees the recent post-earnings sell-off as an attractive entry point for investors.
Lamb Weston (LW) is upgraded from hold to buy by Stifel. The bank believes the company’s current valuation does not reflect its advantageous growth profile.
Disney (DIS) maintains its buy rating from Citi, as the company approaches its F3Q23 results next week.
JPMorgan downgrades Petrobras (PBR) to neutral from overweight, citing that the anticipated positive news has already played out and is likely already priced in.
PayPal (PYPL) is downgraded to in line from outperform by Evercore, who flag concerns about increasing competition and transaction margin pressure.