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Listed here are Wednesday’s greatest calls on Wall Avenue: Bernstein initiates Iris Vitality and Core Scientific as outperform Bernstein stated it is bullish on a number of bitcoin miners on Tuesday night time. “We prolong our Bitcoin equities protection to 2 extra Bitcoin miners with a hybrid Bitcoin/AI information middle technique. We provoke on IREN ( $26, 78% upside) and CORZ ($17, 64% upside) with an Outperform.” Argus upgrades Teva to purchase from maintain Argus stated the prescribed drugs firm has a sturdy pipeline. “Upgrading to BUY. After a number of years of challenges, Teva seems to have steadied its ship, launching a variety of recent medication and reaching margin development throughout all of its three main enterprise segments.” Piper Sandler downgrades Goal to impartial from chubby Piper downgraded the inventory following a change in analyst protection. “We like TGT’s sturdy omni-channel mannequin and consider the corporate has exceptionally sturdy merchandising capabilities. Moreover, we consider each the 2024 EPS steerage and medium-term EBIT margin goal of 6% look affordable. That stated, we do not see a discernable catalyst to push gross sales/margin above estimates near-term.” Jefferies reiterates Walmart as a high choose Jefferies stated it is sticking with Walmart as its high thought. “We proceed to consider that the corporate is within the early innings of a $20B+ EBIT development alternative and share beneath a few of the newest developments that embody a partnership with Fox Robotics and Sam’s Golf equipment’ new exit arch expertise. WMT stays our high choose.” Redburn Atlantic Equities downgrades Spotify to promote from impartial Redburn stated the expansion outlook is simply too bullish. “Whereas Spotify’s working momentum has been spectacular, consensus is just forecasting an excessive amount of development. We downgrade to Promote, with 27% draw back to our worth goal of $230. Jefferies reiterates Oracle as purchase Jefferies stated it is sticking with its purchase score forward of earnings later this quarter. “All eyes might be on the Aug Q, and we consider ORCL can proceed to trace in the direction of $65B rev/45% opm in FY26.” Goldman Sachs reiterates Tesla as impartial Goldman stated it is standing by its impartial score on Tesla shares. “We keep our Impartial score on the inventory, and improve our 12-month worth goal to $248 from $175, which is now based mostly on 65X utilized to our up to date Q5-Q8E EPS estimate.” Barclays reiterates Eli Lilly as chubby Barclays raised its worth goal on the inventory to $1,025 from $913. “The mix of step-ups in Mounjaro/Zepbound script tendencies, continued messaging round additional provide coming on-line in 2H, narrative reinforcing scientific catalysts on the horizon, and tangible indicators of recent momentum throughout the non-metabolic portfolio ought to proceed to drive LLY shares larger.” Morgan Stanley reiterates Microsoft as chubby Morgan Stanley stated it is sticking with its chubby score on Microsoft. “Accelerating Progress & AI Management Not Priced-In.” Citi upgrades Quest Diagnostics to purchase from impartial Citi stated it likes the prospects for the lab diagnostics firm. “We improve … DGX from Impartial to Purchase (PT from $145 to $165) on potential upside to numbers.” Financial institution of America initiates MKS Devices as purchase Financial institution of America stated it sees earnings per share upside for the measuring and controlling system manufacturing firm. “Provoke protection on MKS Devices with Purchase and $160 PO, based mostly on 14x CY25E EV/EBITDA, inline with friends.” Needham upgrades Carvana to purchase from maintain Needham stated it sees “worthwhile development forward” for Carvana shares. “We predict CVNA can develop unit gross sales and trade share by leveraging its digital-first buyer expertise and under-utilized bodily footprint.” BTIG initiates J.Jill as purchase BTIG stated shares of the clothes retailer are compelling. “We view the JILL story as enticing given the power to seize share of a giant, underserved market the place the aggressive panorama has develop into much less intense, suggesting alternative as execution enhancements underneath renewed management proceed to take maintain…” Citi opens a pair commerce on Alaska and Southwest Citi stated it is involved about summertime disruptions for Southwest. “Citi opens a pair commerce, favoring Purchase-rated Alaska over Impartial-rated Southwest Airways. TD Cowen reiterates Amazon as purchase TD Cowen raised its worth goal on the inventory to $245 per share from $225 forward of earnings later this month. “We Count on AMZN To Report 2Q24 Outcomes Forward of Consensus.” TD Cowen reiterates Alphabet as purchase TD Cowen raised its worth goal on Alphabet to $220 per share from $200. “In the meantime, our survey information suggests YouTube continues to be gaining share amongst youthful viewers.” TD Cowen reiterates Meta as purchase TD Cowen raised its worth goal on Meta to $600 per share from $530. “A number of Close to Time period, AI Supported Progress Drivers at Play.” Financial institution of America downgrades Visa & Mastercard to impartial from purchase Financial institution of America stated it sees “restricted upside” for the cost shares. “Whereas we keep a good view on V / MA’s premier enterprise mannequin and aggressive moat, we see restricted upside potential to the valuation a number of and estimates.” Financial institution of America downgrades WK Kellogg to underperform from impartial Financial institution of America stated it sees weakening trade tendencies for WK Kellogg. “Quantity tendencies within the packaged meals trade (and cereal specifically) have but to point out any significant enchancment regardless of the hopes that lapping SNAP (supplemental vitamin help program) and a extra promotional atmosphere would result in a quantity elevate. KeyBanc reiterates Netflix as chubby Key raised its worth goal on the inventory to $735 per share from $707. “We consider Netflix’s upcoming 2Q earnings print will reinforce: 1) web provides stay sturdy into a robust content material slate (e.g., NFL, Squid Sport, Night time Agent, Cobra Kai are all set for 2H24E); and a couple of) monetization initiatives.” Needham reiterates Apple as purchase Needham raised its worth goal on the inventory to $260 per share from $220. “We elevate our PT on AAPL o wing to its $110B share repurchase authorization at a time when different massive tech corporations are spending $50-$100B on GenAI infrastructure as an alternative.” Truist initiates Fluence as purchase Truist stated the power storage firm is properly positioned. “As a number one world market provider into the nonetheless nascent, high-growth battery power cupboard space, we see Fluence as properly positioned to drive outsized development by way of its enhancing economies of scale/provide chain place & differentiated tech.” Truist reiterates Nvidia as purchase Truist stated it is sticking with its purchase score on the inventory. “Count on NVDA to develop into #1-er the old school means: earnings development, by way of natural gross sales development.” Nomura downgrades Tremendous Micro to impartial from purchase Nomura downgraded Tremendous Micro and says it is awaiting “higher order visibility.” “Possible combined near- to mid-term outlook: order uncertainties could partially offset its power in liquid cooling.” Raymond James initiates Bausch & Lomb as outperform Raymond James stated it is bullish on shares of the attention well being firm. “We’re initiating protection of Bausch + Lomb (BLCO) with an Outperform score and $19 worth goal.” Financial institution of America initiates Composecure as purchase Financial institution of America stated it is bullish on shares of the steel cost card producer. “We’re initiating protection of main premium steel card supplier Composecure (CMPO) with a Purchase score and a $9 PO.”
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