(This is CNBC Pro’s live coverage of Wednesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A tech giant and an automaker were among the names being talked about by analysts on Wednesday. Morgan Stanley named Nvidia a top pick, noting it sees the stock’s near-term headwinds easing. Nomura, meanwhile, upgraded Stellantis to buy. Check out the latest calls and chatter below. All times ET. 5:48 a.m.: Nomura upgrades automaker to buy Stellantis’ resolve to address its headwinds in North America has Nomura confident in the stock’s potential. Investors are concerned about Stellantis’ high inventory overhangs and aging model lineups in North America, Nomura acknowledged. However, “we take a positive view of company management’s acknowledgement of the issues affecting Stellantis’ North America (NA) business and showing resolve to address those challenges,” analyst Anindya Das wrote. Das upgraded shares to buy from neutral. To be sure, he trimmed his price target to 21 euros from 24 euros. The automaker’s U.S.-listed shares are down more than 28% in 2024. By comparison, the other “Big 6” original equipment manufacturers are up by around 5%, while the S & P 500 has gained nearly 15%, Das pointed out. In addition, the company’s investments in the first half of the year to launch cost-competitive new products in Europe should help address slower sales growth, Das added. — Hakyung Kim 5:48 a.m.: Morgan Stanley names Nvidia a top pick Investor concerns that have sparked a big sell-off in Nvidia will most likely dissipate, making this a big buying opportunity, according to Morgan Stanley. Analyst Joseph Moore named the chipmaker a top pick, reiterating his overweight rating and $144 price target. “The selloff presents a good entry point as we continue to hear strong data points short term and long term, with overblown competitive concerns,” Moore wrote in a note to clients. “We are seeing consistent upside to AI capex everywhere, but customer comments about q/q progression of spending are having an impact on AI semiconductor stocks. We understand the importance of consistent growth, but customers are wrestling with a wide variety of space and power constraints such that spending is non linear,” he added. Nvidia shares have more than doubled this year. However, they have plunged 16% this month. NVDA mountain 2024-06-28 NVDA this month — Fred Imbert
