Here are Thursday’s biggest calls on Wall Street: Goldman Sachs upgrades Bilibili to buy from neutral Goldman said it sees margin growth for the China online entertainment platform. ” Bilibil i is a highly sticky, under monetized young user based video platform, and is now turning to a more robust and profitable business model driven by higher margin ads/gaming business. UBS downgrades GE Healthcare to sell from neutral UBS said it sees too many risks for the healthcare medical tech company. “Shares pricing in delivery of mid-term guidance, not pricing China risk.” Morgan Stanley downgrades Tencent Music Entertainment to equal weight from overweight Morgan Stanley said it sees slowing growth for Tencent Music. “We see uncertainty in net adds momentum given the lack of low-hanging fruit after seven quarters of high growth.” Oppenheimer reiterates Microsoft as outperform Oppenheimer said investors should stick with the stock for the long term. “We are slightly below consensus estimates for MSFT on most metrics, a first for us. The stock is trading in line with its average multiples over the last five years, but could fall below in the short term. For long term investors we continue to believe they have the best enterprise AI platform and retain our 18-month $500 price target.” Truist initiates First Solar as buy Truist said the solar company has a wide moat. ” First Solar, Inc. (FSLR). American-Made Moat Remains Valuable Differentiator; Initiate Buy & $300 PT.” Deutsche Bank reiterates Tesla as buy The firm said it’s sticking with its buy rating heading into the company’s delivery report in October. “We expect Tesla’ s 3Q24 deliveries to at least meet Street expectations and estimate 460-465k units for the third quarter (largely unchanged vs. prior forecast). Jefferies downgrades Hershey to underperform from hold Jefferies said it’s concerned about “elevated prices and a stretched consumer” for Hershey. “Chocolate stands out as amongst the most concerning, with buy rates vs. 2019 trailing other snacks, wide price gaps vs. other snacks getting wider, further pricing needs raising risk of accelerating volume declines, disadvantaged channel exposure, and gummy taking share.” Susquehanna reiterates Nvidia as positive Susquehanna said it’s sticking with its positive rating on the stock. ” NVIDIA has become the world’s de facto enabler of AI. While others now offer similar AI accelerators for less, we believe the company’s competitive advantages lie in the vertical integration of three key components: 1) semiconductor design; 2) holistic systems; and 3) software…” Deutsche Bank reiterates Nike as buy Deutsche raised its price target on the stock to $95 per share from $92 and said it’s sticking with its buy rating heading into earnings next week. “In the meantime, we think a narrative of gradual improvement will be well received, which should put shares on an upward trajectory as NKE charts a course for renewed growth and market leadership. Buy.” Oppenheimer reiterates Apple as outperform Oppenheimer said its not concerned about competition from Meta’s Orion augmented reality products. “Orion is a record-breaking product that offers a look into the future capabilities and design of AR glasses. But achieving the same commercial viability that AVP [ Apple Vision Pro] has delivered in 2024 is likely years away.” Bernstein upgrades Starbucks to outperform from market perform Bernstein said it likes the company’s new CEO but the Starbucks turnaround will take longer than expected. “The turnaround will take time, but we believe that it will not need to be completed for the stock to start to work.” Barclays upgrades New York Community Bank to overweight from equal weight Barclays said it sees an attractive risk/reward for the regional bank. ” NYCB has completed the heavy lifting around credit evaluation, capital growth and balance sheet repositioning. While the path ahead is still challenging, risk/reward appears in its favor as the bank positions for the future.” UBS reiterates Micron as buy UBS said it’s sticking with the stock following earnings on Wednesday. “Most importantly, MU continues to establish technology leadership and management is maintaining a very constructive supply/demand outlook through next year.” Bank of America reiterates Meta as buy Bank of America raised its price target to $630 per share from $563 following Meta’s unveiling of a variety of augmented reality products. “Mark Zuckerberg’s Meta Connect keynote highlighted Metaverse hardware innovation & expanding AI capabilities across Meta’s apps.” Morgan Stanley downgrades Sonos to underweight from overweight Morgan Stanley downgraded the sound equipment company and said there’s too many negative catalysts. “We are double downgrading SONO to UW (from OW) as we believe the top and bottom line impact of the company’s app redesign is likely greater than the market currently perceives.” Truist initiates GE Vernova as buy Truist said the energy company has “unmatched scale.” “GE Vernova is an energy transition behemoth w/unmatched scale across a diversified slate of traditional & renewable power products & services.” JPMorgan reiterates DraftKings as overweight The firm raised its price target on the gambling company to $54 per share from $48. “We are taking the opportunity to reaffirm our positive view on DKNG and up our year-end 2025 price target to $54.” Bank of America reiterates Ralph Lauren as buy The firm said it’s standing by the stock following a series of management meetings. “We remain Buy-rated on RL and continue to see upside to sales and margins this year.”
