Seaport Initiates Apple as Buy
Seaport has initiated coverage on Apple, stating that the company’s product lineup positions it well for the long term. They expect a strong year ahead, particularly with the Apple Air trending positively. The firm anticipates that an affordable phone may be released next year, which could lead to further price increases.
Wells Fargo Initiates Snowflake as Overweight
Wells Fargo sees multiple catalysts on the horizon for Snowflake. They believe there is a favorable tactical setup for NOW shares as they approach the fourth quarter, driven by potential upside in the third quarter from the U.S. Public Sector and a significant renewal cohort in the fourth quarter. The firm remains optimistic as shares are currently trading at approximately 30 times the ’27 EV/FCF.
Bank of America Reiterates Nike as Buy
Following Nike’s earnings report, Bank of America has reiterated its Buy rating, noting that the turnaround is “underway.” Better-than-expected wholesale sales have bolstered their confidence in the company’s recovery.
JPMorgan Reiterates Apple as Overweight
JPMorgan’s survey indicates that consumers are eager to participate in Apple’s upgrade cycle. Their findings suggest a robust cycle for the iPhone 17 Series, particularly among upgraders, although interest from switchers appears slightly softer compared to the previous year. Notably, both groups are showing a preference for high-end models.
Jefferies Upgrades Delta to Buy from Hold
Jefferies has upgraded Delta Airlines, citing it as “compelling.” They view Delta and United Airlines as having the highest upside potential for fourth-quarter guidance and compelling margin prospects through 2026 and beyond.
Jefferies Upgrades Sunrun to Buy from Hold
Jefferies believes Sunrun is well-positioned for growth heading into 2026. They have upgraded the stock to Buy with a refreshed price target of $21, anticipating significant cash generation within the guidance range for 2025 and beyond.
Wells Fargo Adds CrowdStrike to Tactical Ideas List
Wells Fargo has raised its price target for CrowdStrike to $600 per share from $550, citing the company’s growing momentum and advanced security platform as key factors for accelerated growth.
Jefferies Upgrades Carvana to Buy from Hold
Jefferies sees “elevated growth” potential for Carvana, supported by consumer surveys and capacity analysis that indicate continued strong performance.
RBC Upgrades Mercury Systems to Outperform from Sector Perform
RBC has upgraded Mercury Systems, noting its strong position as a merchant supplier of defense mission-critical processing systems.
Barclays Downgrades AT&T to Equal Weight from Overweight
Barclays has downgraded AT&T primarily due to valuation concerns, stating that the stock’s current valuation is now more reflective of operational improvements.
HSBC Upgrades Autodesk to Buy from Neutral
HSBC believes Autodesk is strategically positioned to benefit from advancements in artificial intelligence, prompting their upgrade to Buy.
Evercore ISI Downgrades Allstate to In Line from Outperform
Evercore ISI has downgraded Allstate on valuation grounds, stating that the risk-reward balance has shifted after a solid year-to-date performance.
Goldman Sachs Initiates Glaukos as Buy
Goldman Sachs sees Glaukos as well-positioned within the ophthalmology market, which represents a significant global opportunity in MedTech.
Baird Upgrades United Rentals to Outperform from Neutral
Baird anticipates industry stabilization for United Rentals, believing that growth reacceleration in 2026 will drive shares higher despite a higher current valuation.
HSBC Initiates Repligen as Buy
HSBC highlights Repligen’s broad portfolio in bioprocessing, one of the fastest-growing areas in the healthcare sector, leading to their Buy initiation.
Goldman Sachs Upgrades Beta Bionics to Buy from Neutral
Goldman Sachs expresses bullish sentiment on Beta Bionics, upgrading the medtech company to Buy.
TD Cowen Initiates Macom Technology Solutions as Buy
TD Cowen sees Macom benefiting from secular growth drivers across its markets, leading to their Buy initiation.
TD Cowen Downgrades Marvell to Hold from Buy
TD Cowen has opted to downgrade Marvell due to limited visibility on the stock’s performance.
Bank of America Reiterates Dell as Buy
Bank of America has raised its price target for Dell to $170 per share, highlighting key topics for the upcoming Securities Analyst Meeting.
TD Cowen Initiates Semtech as Buy
TD Cowen believes Semtech is well-positioned for data center connectivity, leading to their Buy initiation.
William Blair Reiterates Tesla as Market Perform
William Blair has raised its delivery estimates for Tesla but finds it increasingly challenging to maintain a market perform rating.
JPMorgan Upgrades Banc of California to Overweight from Neutral
JPMorgan views Banc of California as favorably positioned for lower interest rates, prompting their upgrade.
Evercore ISI Upgrades Samsara to Outperform from In Line
Evercore ISI sees numerous positive catalysts for Samsara, leading to their upgrade and a raised price target.
TD Cowen Reiterates Nvidia as Buy
TD Cowen remains bullish on Nvidia’s NVLink technology, viewing it as a competitive advantage in the market.
RBC Downgrades GE Vernova to Sector Perform from Outperform
RBC downgraded GE Vernova primarily on valuation, although they acknowledge the company’s strong demand and positive price dynamics.
BTIG Initiates Coinbase as Buy
BTIG has initiated coverage of Coinbase Global with a Buy rating, citing the company’s strong operational performance.
