Here are Wednesday’s biggest analyst calls: Nvidia, SpaceX, Broadcom, SolarEdge, Nike, Oracle & more
Here are Wednesday’s biggest calls on Wall Street: Morgan Stanley names Williams Companies a top pick Morgan Stanley said the stock is too attractive to ignore. ” WMB continues to be one of most compelling risk-adjusted ways to participate in the buildout of AI Infrastructure, in our view, with this summer’s pullback offering an attractive entry point ahead of new project announcements.” Read more. Citi reiterates Oracle as buy The firm added a positive catalyst watch on the stock and said it’s a “historic” opportunity to own the shares. “We are opening a positive catalyst watch and revisiting the Oracle C loud bull case. We see opportunity after one of the most extreme dislocations and drawdowns in the stock’s history, driven by investor capitulation and multiple technical selling factors.” Bank of America reiterates Nvidia as buy Bank of America said that investors should watch the balance sheet heading into earnings on Wednesday after the bell. “Reiterate Buy, PO $350. FQ2 should deliver the usual 3-4% sales beat/raise on the Vera Rubin ramp, but the headline is the least interesting part. What matters is NVDA’s potential disclosure of its multi-year, off-balance-sheet commitments to lock down supply, power, models and demand. Wolfe initiates Harmony Biosciences as outperform Wolfe said the biotech company has plenty of upside. “We initiate HRMY with OP rating and $60 PT.” Morgan Stanley reiterates SpaceX as overweight Morgan Stanley said shares are attractive. “SpaceX announced a new $100bn Starbase in the marshes of S. Louisiana. We do not believe investors appreciate the scale of what SpaceX is planning with Starship. In our view, SPCX i s attractively valued, trading at 10x sales and 25x EBIT (113% growth) on our FY28 forecasts.” UBS upgrades SolarEdge to buy from neutral UBS said the solar company is best positioned for share gains. “SEDG is a key beneficiary of the U.S. Federal Communications Commission (FCC) ban on new inverter model imports, in our view. We anticipate the ban will create a supply constrained U.S. market driving both share gains and potential pricing power for SEDG.” Read more. Truist downgrades Dick’s and Nike to hold from buy Truist said it sees “category pressures” for both companies following Dick’s earnings on Tuesday. “We are downgrading DKS t o Hold and lowering our PT to $135 from $270. Similarly, we believe today’s update signals incremental murkiness around NKE’s turnaround progress and are downgrading shares to Hold (PT to $42 from $47).” Deutsche Bank reiterates First Solar as buy Deutsche raised its price target on First Solar to $299 per share from $272. “The stock has been trading at a 6x discount to the peer group, likely due to a mix of (i) elevated hedge fund activity, (ii) some investor concerns around the sustainability of the 45X benefits, (iii) policy-driven volatility although with the recent S232 clarity, this is expected to clear up, and (iv) backlog contraction.” Piper Sandler upgrades Neogen Corporation to overweight from neutral Piper said the food safety company is “turning the corner.” “We are upgrading Neogen from Neutral to Overweight and raising our PT to $14.” Wolfe upgrades DT Midstream to outperform from peer perform Wolfe said it sees a compelling entry point. “DTM stock has significantly lagged alongside gas-focused peers, which we attribute to a mix of data center pushback and rising oil prices that favored liquids names. We view the relative move as extreme at this point with our gas basket lagging our liquids basket by 13% QTD providing an opportunity to add a high-quality gas name in DTM to our buy list.” RBC initiates Atlassian as outperform The firm said it sees margin expansion. “We initiate coverage of Atlassian with an OP rating and $215 PT. We believe Atlassian’s positioning as a ‘System of Work’ becomes increasingly important in the AI era as more code yields more collaboration.” RBC initiates JFrog as outperform RBC said the company is well positioned for AI. “We believe JFrog is in a unique position to be a system of record for the AI era as a hub to store, track, and share software packages, container images, libraries, and AI/ML models needed for software development.” Benchmark initiates Lattice Semiconductor as buy Benchmark said the semis company is a “share gainer.” “We are initiating coverage of Lattice Semiconductor Corp (LSCC) with a Buy rating and $160 price target.” UBS upgrades Argenx to buy from neutral UBS said the company’s story is “rare.” “We view Argenx as a rare, highly successful biotech growth story.” Jefferies downgrades TJX Companies to hold from buy The firm said shares are likely to be range-bound. ” TJX’s Marmaxx slowdown looks more significant to us than a typical merchandising miss. The company is implementing process changes with direct CEO involvement, suggesting the issue is material. TJX has recovered from disruptions before, but history suggests these fixes can take time.” Truist initiates AxoGen as buy Truist said the nerve repair company has a wide total addressable market. “Initiating with Buy and $60 PT on AXGN, a unique high-growth peripheral nerve repair co, mkting the first (and only) Biologic allograft (Avance) w/in a portfolio of nerve repair products.” Roth initiates Aureus Greenway Holdings as buy Roth said the drones company has a robust pipeline. “initiating coverage of Aureus Greenway Holdings (PUSA) , acquiror of Autonomous Power Corporation (Powerus), at Buy with a $7.50 target. After the reverse merger closes, likely this Oct., Aureus will be renamed Powerus Corporation and trade as PUSA on the NASDAQ.” Melius reiterates Broadcom as buy The firm said the company’s earnings report on September 2 will be “pivotal.” “Broadcom’s stock is up just 3% this year vs. ~50% for the SMH and +14% for Nvidia. If you’ve been following CDS spreads, you know it’s become a bit of a battleground stock nowadays.”
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