Here are Wednesday’s biggest calls on Wall Street:
Bernstein said it’s sticking with Nvidia following its presentation at the Consumer Electronics Show in Las Vegas.
“But the announcements made, spanning across gaming automotive (with Toyota announced as a new AV partner), robotics and physical AI, and even new compact AI developer workstation were enough for us at this point.”
Deutsche said it’s waiting for more “more tangible evidence of AI monetization.”
“We downgrade Adobe to Hold-rated as we expect the stock to remain range-bound until the company displays more tangible evidence of AI monetization.”
The firm said it’s bullish on the insurance company in 2025.
“We think TRV is the best positioned amongst peers to beat 2025 expectations for a combination of commercial lines underlying profitability and net investment income, with an improving personal lines business as the kicker.”
The firm said it sees a “less competitive AI roadmap” for AMD.
“We see additional downside as we now believe its AI GPU [graphic processing unit] roadmap is less competitive than we previously thought. Hence, we believe AMD wouldn’t be able to penetrate the AI GPU market as much as we had earlier anticipated.”
The firm said Coca-Cola is executing “at the top of its game.”
“We upgrade to Buy and reiterate our PT of $75. We raise our FY25 organic sales growth estimate to +6.0%, which is at the high-end of KO’s long-term algo.”
Barclays said it sees improving sales for RH.
“While this stock has moved up meaningfully in the last few months on the Q3 sales inflection, this is a longer-term call. We see sales ramping based on product, pricing and in- stock levels, along with incremental margin opportunities in 2025, with optionality from an improvement in housing.”
Goldman said it’s sticking with its neutral rating ahead of earnings later this month.
“With recent key live events being stimulative of user engagement and sign-ups, we continue to see an attractive advertising opportunity with live events continuing to contribute to Netflix’s advertising over time.”
Morgan Stanley said the China tech gaming company is poised for a 2025 turnaround.
“Upgrading NetEase as PC games have become growth engine.”
UBS said the biopharma company is a top GLP beneficiary.
“Novo remains the most exciting growth story in European pharma and is well placed to continue to benefit from the high demand for GLP-1 medications near-term.”
The firm said it sees a margin inflection.
“UPS has materially lagged FDX, our broader Transport Index and the S&P 500 over the past 2.5 years as U.S. package margins have declined materially the past couple of years. But we expect U.S. margins to inflect positive y/y in C25, which historically leads to much better performance for the stock.”
Mizuho upgraded Twilio ahead of the cloud communications company’s investor day later this month.
“While the shares appreciated ~50% in 2024 (vs. Nasdaq ~30%), we believe that greater clarity on the drivers of the top-line stabilization and acceleration opportunity, along with a refreshed mid-term growth outlook, and margin and FCF upside, will support share outperformance.”
Citi said in its upgrade of Carvana that profitability is expanding.
“We are upgrading shares of Carvana to Buy/High Risk and raising our TP to $277 as we believe Carvana is ramping inventory to meet growing demand and is doing so more efficiently.”
The firm said AT&T is a top idea in 2025.
“We expect healthy 5-6% annual FCF growth over the next 6 years.”
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