Deutsche Bank Upgrades Lam Research
Deutsche Bank has upgraded Lam Research to a “buy” from “hold,” citing that the semiconductor company is well-positioned for future growth. Despite a remarkable year-to-date increase of 77% in shares and a 31% rise over the last three months, the firm believes LRCX will outperform its peers in the coming year due to favorable cyclical and secular trends.
Bank of America Reiterates Apple as Buy
Bank of America continues to endorse Apple as a “buy,” noting that ship dates for the iPhone 17 remain elevated. Their tracking indicates that as of September 29, the shipping time for the iPhone 17 is 19 days, which is longer than last year’s iPhone 16.
Wells Fargo Upgrades Amer Sports
Wells Fargo has upgraded Amer Sports to “overweight” from “equal weight,” encouraging investors to buy the dip. The firm noted that Amer Sports shares have dropped 20% in the past month, while the S&P 500 has risen by 3%. They believe the recent sell-off is unwarranted, especially given positive insights from expert checks in China regarding the company’s outlook.
Goldman Sachs Upgrades Innoviz Technologies
Goldman Sachs has upgraded Innoviz Technologies from “neutral” to “buy,” highlighting the company’s strong positioning in the autonomous vehicle sector. They see significant design win potential over the next 3-6 months, along with favorable relative valuation.
Jefferies Initiates UP Fintech as Buy
Jefferies has initiated coverage on UP Fintech with a “buy” rating, expressing optimism about the China-based fintech company. They describe UP Fintech as a leading integrated financial technology platform that offers a diverse investment experience for global investors.
Morgan Stanley Downgrades Wells Fargo and US Bancorp
Morgan Stanley has downgraded Wells Fargo and US Bancorp to “equal weight” from “overweight,” citing valuation concerns and below-consensus net interest income estimates.
Morgan Stanley Upgrades Citizens Financial
Conversely, Morgan Stanley upgraded Citizens Financial to “overweight” from “equal weight,” calling the regional bank’s growth story compelling. They anticipate a significant improvement in return on tangible common equity (ROTCE) by 2027.
Bernstein Reiterates Nvidia and Broadcom
Bernstein has reiterated its “outperform” rating for both Nvidia and Broadcom, emphasizing that these stocks are essential holdings. Despite rising concerns about AI sustainability, they believe demand remains exceptionally strong, particularly with Nvidia’s recent OpenAI deal and ambitious five-year targets.
Barclays Reiterates Tesla as Equal Weight
Barclays has maintained its “equal weight” rating on Tesla, suggesting that the recent rally can be attributed to various technical factors, including retail excitement and option activity.
Morgan Stanley Downgrades Novo Nordisk
Morgan Stanley has downgraded Novo Nordisk to “underweight” from “equal weight,” citing multiple negative catalysts that could impact the biopharma company, including slower prescription growth and competitive pressures.
Goldman Sachs Reiterates Disney as Buy
Goldman Sachs continues to endorse Disney as a “buy,” noting mixed investor sentiment. They believe Disney is a high-quality earnings compounder with strong growth potential driven by direct-to-consumer subscriber growth and new cruise ship launches.
UBS Initiates Core & Main as Buy
UBS has initiated coverage on Core & Main with a “buy” rating, setting a price target of $65, which represents approximately 27% upside potential.
Morgan Stanley Reiterates AppLovin as Overweight
Morgan Stanley has raised its price target for AppLovin to $750 per share from $480, highlighting the launch of its self-serve tool for non-gaming as a key catalyst for growth in its advertising business.
Barclays Initiates Oklo as Overweight
Barclays has initiated coverage on Oklo with an “overweight” rating, suggesting that the nuclear company has significant growth potential in the small modular reactor sector.
Morgan Stanley Reiterates Alibaba as Overweight
Morgan Stanley has raised its price target for Alibaba to $200 per share from $165, citing increased cloud growth estimates driven by strategic partnerships and accelerated international expansion.
Deutsche Bank Reiterates Intel as Hold
Deutsche Bank has maintained its “hold” rating on Intel, raising its price target to $30 per share from $23. They noted that Intel has been in the news recently due to various equity raises and collaborations.
JPMorgan Reiterates Spotify as Overweight
JPMorgan continues to view Spotify as “overweight,” raising its price target to $805 per share from $740. They anticipate a potential price increase in the U.S. that could drive further upside for the stock.
