(This is CNBC Pro’s live coverage of Tuesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A semiconductor stock and a streaming giant were among the names being talked about by analysts on Tuesday. Barclays upgraded ASML to overweight. Meanwhile, Oppenheimer said investors should by the dip on Netflix. Check out the latest calls and chatter below. All times ET. 6:53 a.m.: Needham stands by buy rating on CrowdStrike post-IT outage CrowdStrike will ultimately survive despite its recent fiasco, according to Needham. Analyst Alex Henderson reiterated his buy rating for the cybersecurity firm but lowered his price target to $375 from $425. This new price forecast is approximately 45% above where shares closed on Monday. CrowdStrike has crashed 25% since a global IT outage on July 19 led to thousands of flight cancellations. The stock is now up just 1% on the year. However, Henderson thinks the damage to CrowdStrike’s reputation should fade over the next year. “We consider CRWD the best in breed Security company and note that its handling of the problem has been uniformly lauded as open and exemplary,” the analyst wrote. Henderson added that he is cutting his revenue and earnings estimates due to Delta seeking compensation and a likely one-time cash charge to CrowdStrike’s balance sheet. But the analyst pointed out that while customers are angry, they remain committed to CrowdStrike’s platform due to the “strength of its technology, architecture and strong management execution.” “Crowd’s cloud native, microservices based, API driven, single agent, single UI platform and superb data lake architecture is the root of our confidence in its ability to rebound,” he added. “We believe CrowdStrike is going to be a major premier platform for Security. And we still believe CRWD shares should be a core holding for growth investors.” — Lisa Kailai Han 6:37 a.m.: KBW double upgrades Aon to outperform from underperform There’s a rosy outlook ahead for Aon , according to Keefe, Bruyette and Woods. The firm double upgraded shares of the professional services company to outperform from underperform and hiked its 12-month target price to $380 from $313. The new forecast implies upside of 19%. Analyst Meyer Shields cited a “very strong” second-quarter earnings report and conference call as a catalyst. Shares of Aon are up 10% this year. Despite rising 8% on Friday, Shields believes that the stock is still trading at a discount. “We attribute the discount to several recent quarters’ weak organic revenue growth, as AON’s Commercial Risk Solutions segment’s organic growth rate consistently underperformed its peers’,” the analyst wrote. Going forward, he’s more bullish on Aon’s “ramping productivity” that should boost both growth and margins in coming quarters. “We think AON is in the early stages of recovering organic revenue growth — and subsequent margin expansion — as recently recruited brokers ramp up their productivity, offsetting the initial expenses,” the analyst wrote. — Lisa Kailai Han 6:31 a.m.: JPMorgan sees a more solid setup ahead for Coinbase JPMorgan believes that a recovering cryptocurrency backdrop should boost shares of Coinbase . The bank reiterated its neutral rating on the company, but raised its price target to $181 from $171. This now implies that shares of Coinbase could fall 23% from their Monday closing price of $234.20. Coinbase stock has rallied 35% in 2024. JPMorgan analyst Kenneth Worthington attributed a higher assumption for total crypto market cap as one reason for his price target raise. “We see the cryptoecosystem in the midst of a material participation rally, benefitting Coinbase revenue generation near term,” the analyst wrote. “We see the longer-term success of Coinbase being driven by development, with our focus on tokenization and payments.” — Lisa Kailai Han 5:55 a.m.: JPMorgan downgrades Novavax to underweight Waning demand for the Covid-19 vaccine could dent Novavax’s momentum, according to JPMorgan. The bank downgraded shares of the biotechnology company to underweight from neutral. Analyst Eric Joseph’s December 2025 price target of $8 implies a 51% decline ahead for the stock. Shares of the vaccine maker have soared 242% this year, in part due to the announcement of a strategic partnership with Sanofi around its Covid-19 vaccine program. NVAX YTD mountain NVAX in 2024 However, Joseph thinks investors have been vastly overestimating the potential Covid vaccine demand. Not only are vaccine doses in oversupply, but the demand is now only fractional to that of flu vaccines. “Notwithstanding the strengthened balance sheet and abated going concern status from the associated $500M upfront milestone, having further reviewed the implications from the agreement and the outlook for the COVID-19 and flu vaccine demand, we believe current levels substantially overvalue the potential Nuvaxovid economics / revenue to the company,” the analyst wrote. “Anticipating little meaningful news flow from its proprietary pipeline with value accretive potential given its early stage, we expect NVAX share to underperform our broader coverage over the mid-term,” he added. — Lisa Kailai Han 5:48 a.m.: Barclays upgrades ASML to overweight Chipmaker ASML’s future looks bright, according to Barclays. The bank upgraded the stock to overweight neutral. Analyst Simon Coles also raised his price target to 1,150 euros from 930 euros. The new forecast represents approximately 43% upside from Monday’s close. Shares of ASML are up 15% on the year but around 20% off their recent peak, “owing to China concerns, debate around the [return on investment] on AI investment and slight disappointment on 2025 expectations following 2Q24 as well as wider market dynamics,” the analyst wrote. ASML YTD mountain ASML year to date “We do not think these debates are over, but we see the recent sell-off as an attractive opportunity to gain exposure to one of the highest quality names globally,” he added. Going forward, Coles is more bullish on a solid setup heading into 2026. Factors including continued AI investment has led the analyst to forecast 2025 growing around 15% year over year. He also sees orders for ASML’s dual-stage extreme ultraviolet lithography system improving, although the stock will not be completely immune from some near-term risk in China. “Whilst we expect negative news from China in the coming months to impact global semicap, ASML is a relative safe haven, in our view,” he added. — Lisa Kailai Han 5:48 a.m.: Buy the dip on Netflix, Oppenheimer says Investors should use Neflix’s recent pullback to load up on shares, according to Oppenheimer. Analyst Jason Helfstein reiterated his outperform rating on the stock. He also maintained his $725 price target, which implies upside of 15.6% from Monday’s close. Netflix shares have dropped more than 7% this month, as investors move away from megacap tech winners in favor of smaller, beaten-down names. NFLX mountain 2024-06-28 NFLX in July Still, “we are bullish on NFLX shares … as the company has the best long-term visibility within our coverage and deserves to trade at a premium valuation,” said Helfstein in a note. “While NFLX has already won the streaming wars, eventual consolidation will drive more viewership to NFLX, with ~12% viewing share likely up for grabs from consolidation driving margin leverage.” “NFLX’s revenue drivers are very clear through 2026: 2H24 driven by continued subscriber tailwinds; FY25 benefits from price increases & FY26 from advertising monetization at scale,” the analyst added. — Fred Imbert
