Here are the biggest calls on Wall Street on Wednesday:
Loop says the cruise company is well positioned.
“Viking is relatively underlevered and has better growth prospects in our opinion as it is the smallest public cruise line and operates significant river-based operations.”
Bank of America says it’s sticking with Alphabet following the company’s “solid” earnings results on Tuesday.
“We are encouraged to see another quarter of strong Search growth and think Street could be underestimating Al Overview benefits for Search monetization in 2025.”
Wells says it’s sticking with AMD following earnings on Tuesday.
“We think an anticipated tempered 1Q25 guide and/or expectation reset was starting to be viewed as a positive set-up. However, flat 1H25 vs. 2H25 Data Center guide likely places AMD in a ‘prove-it’ position.”
The firm downgraded the stock following earnings on Tuesday.
“Downgrading to EW from OW as Snap enters reinvestment period. An upside option remains with a potential US TikTok ban, but the app redesign is taking longer and ad revenue growth remains stubbornly below industry levels. Stepping to sidelines.”
The firm says it sees rising competition for American Eagle.
“As we enter 2025, we now believe that the competitive environment is intensifying in both intimates and apparel.”
Barclays downgraded Ferrari following earnings on Tuesday.
“Some investors question the ‘quality’ of the beat and guide, and the residual value debate remains ‘stubborn.’”
Piper said in its upgrade of Simon that the mall owner is seeing earnings growth.
“Thus, management seems increasingly comfortable throttling up on the external front, which looks to accelerate cash flow. Thus, our concerns about slowing earnings have been allayed. Upgrade to OW.”
Jefferies upgraded the toy company following earnings.
“After MAT’s strong Q4 print and 2025 guidance of positive sales growth, we are upgrading MAT to BUY.”
JPMorgan says the asset management company is a “turnaround story.”
“We are upgrading Janus to Overweight. We see Janus as the turnaround story in traditional asset management.”
Piper says the web browsing tech company is well positioned.
“We initiate OPRA with an OW rating and $25 PT.”
The firm downgraded the stock following earnings mainly on valuation.
“Spotify is executing very well, but revenue growth — after an impressive step up in 2024 — is poised to decelerate in 2025. Explosive operating margin expansion — driven by headcount reductions and leverage on copyright royalties as a percent of revenues — is normalizing to more regular levels.”
Stifel says the pool company is resilient.
“Though we reduced our HAYW outlook, we are upgrading the shares to Buy from Hold maintaining our $16.50 target price.”
Citi says the stock is overvalued.
“We are downgrading WRBY from Neutral to Sell. While we expect a strong 4Q24 with sales +16.5% vs cons +15.6%, the stock has risen 50% over the past 3 months to a level we believe is overvalued.”
Citi said its thesis on the beer and beverage company has played out.
“Looking ahead, TAP market share comparisons get easier in the spring and the beer category will cycle easier comps in the summer.”
The firm says it’s bullish on Nvidia despite DeepSeek’s emergence.
“Higher compute complexity/new innovation in models combined with proliferation of inference applications should unlock strong demand for GPUs – #1 technology/innovation leadership should enable them to unlock new use-cases.”
JPMorgan’s says Apple’s App Store revenue looks solid for January.
“Apple’s App Store revenue for the month of January, tracked by Sensor Tower, increased +2.7% m/m (compares to an average sequential uptick of +2.3% seen historically going from December to January) and helped support an acceleration of y/y revenue trends to +17.6% y/y in January.”
UBS says it’s standing by shares of Chipotle following earnings on Tuesday.
“Mixed 4Q results and commentary highlighted transaction-led sss [same-store sales] gains and modest margin upside, while momentum should recover from early ’25 pressures moving through the year. We’re encouraged by still solid underlying traffic, even as one-off calendar/weather headwinds weighed on trends.”
The firm upgraded the solar equipment company following earnings and says it sees a “significant opportunity to expand gross margins.”
“The market for solar equipment in the US is clearly showing signs of life following three consecutive quarters of revenue growth for Enphase and we believe the company’s reshoring of its microinverter/ battery manufacturing capabilities not only have protected the business in the event of a potential trade war, but also represent a significant opportunity to expand gross margins.”
Citi says it sees AI growth slowing down for AMD following earnings on Tuesday.
“Yesterday after the close, AMD reported decent results/guidance driven by higher CPU [central processing unit] sales. However, AMD didn’t provide AI revenue guidance, and it appears AMD’s AI revenue is flat to down for 1H25 with margin dilution.”
Leerink says investors should buy the dip in the biotech company.
“Bottom Line: We are upgrading REGN shares from Market Perform to Outperform and raising our PT from $762 to $834.”
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