Here are Tuesday’s biggest calls on Wall Street: Loop initiates NXP Semiconductor as buy The firm said it’s bullish on the semiconductor company. “We are initiating coverage of NXP Semiconductor (NXPI) with a Buy rating and $300 PT. Like other automotive-levered semiconductor companies/stocks, NXPI has been a consensus short since the end of 2023, or once automotive tier-ones began bringing down days of inventory held.” Loop initiates On Semiconductor as buy Loop said the chipmaker has a “low valuation.” “Like most automotive levered semiconductor names, ON has been a consensus short since late 2023, or once automotive tier-ones began bringing down days of inventory held. This occurred against a backdrop of flattening light vehicle production.” Mizuho reiterates Nvidia as buy Mizuho said it’s bullish heading into earnings on Nov. 20. “Reiterating Outperform, raise ests/PT to $165 (prior $140) as NVDA remains our Mizuho Top Pick, dominating the AI accelerator market.” Morgan Stanley reiterates Walmart as overweight Morgan Stanley raised its price target on the stock to $89 per share from $82 ahead of earnings next week. “Stock should remain supported provided that WMT continues to penetrate high-income cohorts, leverage critical mass in eCommerce and further propel the high-margin Advertising/Marketplaces flywheel.” Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it’s sticking with the stock heading into a Trump administration. “As we look ahead to FY25 (and over the next 4 years), we expect to see TSLA’s TAM [total addressable market] aperture expand to far wider domains, many of which are not included in buy-side or sell-side financial models for the company.” Morgan Stanley upgrades International Flavors to overweight from equal weight Morgan Stanley said in its upgrade of International Flavors that the fragrance and spice company is undervalued. “We believe the recent share-price pullback is a very good opportunity to re-enter the shares, as we are more positive than the market on 4Q/FY25 growth. Upgrade to Overweight.” Morgan Stanley upgrades Viking to overweight from equal weight Morgan Stanley said it sees an attractive entry point for the cruise company. “We upgrade VIK to OW with ~10% upside to our revised $49 12-m PT. VIK has rallied recently but lagged peers, resulting in more attractive relative valuation.” Redburn Atlantic Equities initiates Nvidia as buy Redburn said in its initiation of the stock that it has a “competitive moat.” ” Nvidia is particularly well positioned. It has the largest installed base of highparallelism processors (graphics processing units – GPUs), a dominant software interface (Compute Unified Device Architecture – CUDA) and the largest installed base of application libraries.” Citi downgrades Ross to neutral from buy Citi said it sees too much uncertainty for the off-price retail store. “We are downgrading ROST from Buy to Neutral. After having more time to digest the upcoming mgmt transition at ROST (with a CEO coming from outside the off-price industry), the combination of a mgmt change (that brings increased uncertainty to the story) and a relatively high multiple we no longer view the risk/reward as favorable.” Citi upgrades C.H. Robinson to buy from neutral The firm said the shipping company’s valuation is more reasonable now. “Upgrade CHRW, CNI; focus on value and quality with more muted expectations — Against the backdrop of elevated valuations and lofty investor expectations, we prefer to focus on areas that have diversified macro exposure and where valuations appear more reasonable.” Deutsche Bank upgrades Sentinel One to buy from hold Deutsche said the cyber security company is well positioned. “We are upgrading shares of SentinelOne to Buy from Hold as we believe the company is not only benefitting from positive organic momentum, but also some disruption within the endpoint market post July 19.” Bank of America adds Wells Fargo to the US1 list The firm added the stock to its top picks list. “We are adding Wells Fargo & Co. (WFC) to the US 1 list.” Wells Fargo upgrades Twilio to overweight from equal weight Wells said the cloud communications company is firing on all cylinders with exposure to AI. “View TWLO as a derivative call on AI agents, front office, and dig. transf. given positioning as a pick-and-shovel in the build cycle, further supported by TWLO’s dev mindshare & re-focused efforts on capturing the ISV [independent software vendors] channel, incl. AI natives.” Leerink upgrades Bristol Myers to outperform from market perform Leerink says it likes the biotech company’s pipeline. “We are upgrading BMY shares from Market Perform to Outperform and raising our PT from $55 (7.5x ’25E EPS of $7.29) to $73.” MoffettNathanson reiterates Meta and Alphabet as buy The firm said both stocks are underappreciated. “Over the recent long run, both Alphabet and Meta have been incredible strong stocks to own due to an enviable combination of double-digit compounding earnings growth and reasonable relative valuations. We have been pleased to recommend both.” Bank of America reiterates Apple as buy The firm said it’s sticking with its buy rating on the stock. “We maintain Buy on Apple given margin expansion from silicon roadmap and growth in Services, with rev for Mac expected to increase +8% y/y in C24.” Deutsche Bank downgrades Okta to hold from buy The firm said value creation is still “several quarters away” for the IT identity access services management company. “Aligning with our most recent thinking and inputs from the field, we are downgrading shares of Okta to Hold from Buy. While not an explicit call on F3Q results, feedback on Okta has been more mixed of late and we think the path to realizing value here may still be several quarters away, perhaps making it more interesting deeper into next year.” D.A. Davidson reiterates Snowflake as buy The firm added the stock to its “Gold Trophy” best ideas list. ” Snowflake is the leading cloud data warehousing platform, allowing its customers to run analytics on data that is stored within their database. As more enterprises shift their data to the cloud from on-premise servers, Snowflake offers their customers the ability to gain valuable insights into their data in an easy, and intuitive manner.”
