Here are Monday’s biggest calls on Wall Street:
The firm said it is bullish on the stock in 2025.
“We are raising our price target on Tesla to $515 from $400 as we believe the Trump White House the next 4 years will be a ‘total game changer’ for the autonomous and AI story for Tesla and Musk over the coming years. Our bull case is $650 for 2025.”
Bernstein said Nvidia has an “enormous” data center opportunity.
“The datacenter opportunity is enormous, and still early, with material upside still possible.”
The firm said it is a top pick in 2025.
“We see 2025 as a year of two different trends. In the first half, AI investments and NVDA Blackwell deployments driven by US cloud customers sustain momentum in AI semis.”
JPMorgan said it is sticking with the stock heading into 2025.
“We rate shares of Apple Overweight given our favorable outlook on the iPhone cycle led by AI upsides as well as resilience in Services revenues relative to investor expectations.”
Oppenheimer said it is bullish on Netflix and live events.
“We are revisiting the bull case and raising target to $1,065 (was $825).”
Loop downgraded Netflix mainly on valuation.
“However, the stock is trading at historically high valuation multiples. The company is trading at 9.4x forward revenue, close to the highs last reached in mid-2021 and only topped in mid-2018.”
Goldman Sachs said it is sticking with the stock following earnings last week.
“Bottom line, we reiterate our Buy rating on AVGO with an updated 12-month price target of $240 (up from $190 prior) and continue to view the company as one of the key enablers of Gen AI.”
Jefferies said it sees too many negative catalysts for the automaker.
“We downgrade Ford to Underperform on broad concerns ranging from inventory overhang to looming strategic decisions on European presence and a widening gap between warranty provisions and related cash outflows.”
Morgan Stanley said the stock is a top idea in 2025.
“With lingering macro uncertainty, we retain a defensive bias (XOM, COP, FANG) and still prefer US gas over oil exposure within E&P.”
JPMorgan says the identity access management company is well positioned.
“Okta reset expectations with a conservative initial look at FY26 revenue growth this quarter and now the risk/reward is attractive in our view as we see Identity moving up the priority stack.”
JPMorgan said it sees burgeoning growth for the electronics test manufacturing company.
“We are upgrading shares of Keysight Technologies to Overweight led primarily by our expectations for a broadening out of the demand drivers along with a cyclical recovery through 2025 in end-markets, which have been challenged in 2024 both on account of higher capital costs, lower underlying industry growth, and inventory digestion in certain markets.”
JPMorgan said it sees IT budgets improving for the data infrastructure company.
“We are upgrading shares of NetApp to Overweight led by our expectations of acceleration in revenue growth helped by improving IT budgets towards datacenters and Storage infrastructure in preparation of Enterprises looking to leverage AI use cases, as well as continued share gains from the recent pace of innovation from NetApp relative to its product portfolio.”
The firm said the risk/reward is getting a little more attractive.
“As we note herein, the company’s tone on current business trends QTD was very upbeat, which lends more confidence from our seats that Macy’s can deliver a positive comp in 4Q24.”
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