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Listed below are Friday’s greatest calls on Wall Avenue: Morgan Stanley reiterates Meta as chubby Morgan Stanley lowered its value goal on Meta to $225 per share from $280, citing headwinds for the corporate’s short-format video product, Reels. “Whereas META faces execution uncertainty, we predict it’s greater than mirrored within the value at present ranges as our new $225 PT implies paying ~10X our ’23 EBITDA…a ~17% low cost to META’s long-term common.” Learn extra about this name right here. Wells Fargo names Palo Alto as a high choose into earnings Wells stated the cybersecurity firm is a high concept heading earnings subsequent week. “Inside our off-calendar protection universe, we now have probably the most confidence in Palo Alto reporting sturdy F4Q outcomes, primarily based on the sturdy ends in our 2Q22(Jul) Reseller survey (+23% web).” Atlantic Equities downgrades Nasdaq to impartial from chubby Atlantic Equities downgraded Nasdaq primarily on valuation. “Following combined 2Q22 earnings throughout the US Exchanges, quantity traits have been combined with money equities and choices holding up effectively at traditionally elevated ranges, whereas some derivatives volumes have been weak via August-to-date.” Telsey reiterates Mattress Tub & Past as underperform Telsey stated it sees shares dropping $3. “Total, Mattress Tub’s weak monetary place, unsure financial surroundings, management overhaul, poor execution, and lack of clear technique hold us cautious on the inventory.” Learn extra about this name right here. Wells Fargo downgrades Hewlett Packard to underweight from equal weight Wells downgraded the inventory on account of considerations about “deteriorating PC demand.” “Whereas we keep a optimistic view on HP ‘s sturdy FCF and execution on driving a richer portfolio combine (business PCs, shopper premium / gaming, peripherals, Instantaneous Ink, and so on.), we predict deteriorating PC demand and macro sensitivity in print might lead to materials downward est. revisions.” Learn extra about this name right here. Daiwa reiterates Disney as purchase Daiwa stated in a word that Disney Parks ought to proceed to drive earnings and outlook. “We proceed to consider that this market chief can dominate the burgeoning streaming market and we take a look at inventory weak spot as shopping for alternatives. We additionally consider that regardless of excessive content material spending, DIS has scale, synergies, and Parks margins to assist offset.” Financial institution of America reiterates Dick’s as purchase Financial institution of America stated it sees a threat to estimates heading into earnings subsequent week, however that the “long-term technique is on observe.” “We’re elevating our PO to $125 (from $105) which relies on 12-13X given increased sector multiples & reiterate Purchase as consider DKS gross sales & margins have been structurally rebased at increased ranges vs. 2019 given: DKS ‘content material of merchandise’ is increased warmth and extra narrowly distributed.” Financial institution of America reiterates Peloton as purchase Financial institution of America stated it sees restricted visibility on Peloton shares heading into earnings subsequent week, however that it nonetheless thinks subscribers can develop. “The 2 issues we search for on the decision are a path to develop subs to over 5mn, and a path to optimistic FCF.” HSBC downgrades Krispy Kreme to carry from purchase HSBC stated it sees a scarcity of visibility following the donut firm’s second-quarter earnings report. “Weak 2Q revenues solid new doubts on Krispy Kreme’ s model power, pricing energy and income administration functionality. 2Q outcomes additionally increase questions on whether or not its quick retailer enlargement works in a better inflationary surroundings like this.” Morgan Stanley reiterates Robinhood as equal weight Morgan Stanley stated Robinhood consumer progress and engagement stays comfortable. “Robinhood reported July metrics [yesterday] that confirmed m/m flat consumer progress, declining engagement (-6% Month-to-month Lively Person’s) and +13% web new asset progress.” Atlantic Equities reiterates Uber as chubby Atlantic Equities stated there’s extra revenue potential for Uber. “Q2 outcomes encouragingly confirmed each stronger than anticipated Mobility gross bookings progress and extra progress on Supply profitability.” KeyBank reiterates Apple as chubby KeyBanc raised its value goal on Apple to $185 per share from $177 and stated it sees “sturdy traits.” “Presently, the info helps our above-consensus {Hardware} income estimates, which we enhance for iPhone primarily based on additional overview of our estimates and F3Q22 outcomes.” Citi reiterates Common Motors as a high choose Citi saved its purchase score on the inventory saying that it sees a number of optimistic near-term catalysts for shares of Common Motors. “With a ~14% ’22E Auto FCF yield as the start line, we spotlight the next potential NT catalysts. (1) Supportive auto information factors that increase investor confidence in GM’s H2 outlook and macro resilience. To that, we had been inspired by administration’s tone at our assembly. Financial institution of America reiterates House Depot and Lowe’s as purchase Financial institution of America stated House Depot and Lowe’s are each “enticing” even with conservative second-half outlooks. “Each retailers beat Avenue expectations for 2Q EPS and maintained sturdy margins regardless of price strain, because the resilience of shopper demand for house upkeep and renovation mixed with the retailers’ aggressive strengths supported continued earnings progress.” Citi reiterates SoFi as purchase Citi stated it sees shares of the net private finance firm going increased. “Whereas close to time period volatility can proceed, we consider SoFi’s working efficiency can lend help at present ranges and lead the inventory increased because the promoting strain ends
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