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Here are Thursday’s biggest calls on Wall Street: Citi upgrades Prime to buy from neutral Citi said the gene editing company has a “favorable” risk/reward outlook. ” Prime currently has cash runway into 2H25, and mgmt. is conscious of appropriately managing burn.” Piper Sandler reiterates Nvidia as overweight Piper said it’s sticking with its overweight rating heading into earnings on May 22. “Overall, NVDA remains our top large-cap pick and we remain bullish that the Blackwell series will provide meaningful acceleration to revenues longer-term.” JPMorgan reiterates Netflix as overweight JPMorgan said it’s sticking with its overweight rating following Netflix’s upfront advertising presentation. “We remain positive on NFLX following the formal announcement for rights to Xmas Day NFL games and the 2024 Upfront presentation announcements, & we expect to learn more after spending time with the company [today].” Wolfe upgrades Intel to peer perform from underperform Wolfe said in its upgrade of Intel that its bear thesis had played out. “With sentiment and expectations lower, we upgrade to PP, but we still don’t see enough earnings power to support a favorable rating.” Piper Sandler upgrades Quaker Houghton to overweight from neutral Piper said it’s bullish on shares of the specialty chemical company. “We are initiating coverage of KWR with an OW rating and a PT of $220. While near term growth is dampened by the macro environment, the company has multiple levers to enhance upside.” Truist upgrades Coterra Energy to buy from hold Truist said it sees a “solid shareholder return story” for the energy company. “We forecast Coterra is on pace to potentially generate $2.5B+ FCF in 2025 setting up a solid shareholder return story even while recently slowing natural gas activity given relatively weak current prices.” JPMorgan reiterates Palo Alto Networks as overweight JPMorgan raised its price target to $340 per share from $330 ahead of earnings next week. “We remain Overweight rated as we continue to view PANW well positioned within our coverage to consolidate share within several of the largest and highest priority enterprise security markets. Our price target moves to $340, reflecting channel commentary and recent multiple appreciation.” JMP reiterates Robinhood as market outperform JMP said it’s sticking with its market outperform on the stock trading company. “Flash forward to today, Robinhood still represents the closest proxy in the public markets for retail trading activity, and retail trading activity is experiencing a surge in recent days as ‘meme investing’ moves back to the mainstream.” Goldman Sachs reiterates FedEx as buy Goldman said it’s standing by the stock heading into earnings in late June. “We remain Buy rated on FDX , and we keep FY 4Q/FY24 EPS estimates unchanged at $5.25/$17.65 with minor adjustments.” Evercore ISI reiterates Dell as outperform Evercore raised its price target on the stock to $165 per share from $140 and said it thinks Dell has won some business for Tesla’s AI server build. “Our understanding is that DELL has won a large portion of business for Tesla’s AI server buildout which would be INCREMENTAL to their current ~$2.9B AI backlog (shipped ~$800M in AI server revenues LQ) but was likely embedded in their pipeline commentary.” UBS upgrades Coupang to buy from neutral UBS said the market is underestimating the Asia e-commerce company. “With Coupang’s recent share price strength, investors are questioning its potential for future growth, particularly amidst its dominance in a saturated market and increasing competition from Chinese cross-border platforms.” Wells Fargo initiates Texas Instruments as overweight Wells said in its initiation of the stock that “shares seem to price in chip cycle recovery.” “We are initiating coverage of TXN with an Underweight (UW) rating and $150 price tgt. RBC reinstates Jack in the Box as outperform RBC resumed coverage of fast food chain Jack in the Box and said it has an attractive valuation. “Return to growth priced attractively, resuming coverage at Outperform.” Wells Fargo reiterates Tesla as underweight Wells says Tesla is not a threat to the auto industry anymore and that the China “dragon has awakened.” “TSLA is likely no longer the biggest disruptive threat to autos.” Raymond James upgrades GoodRx Holdings to outperform from market perform Raymond James upgraded the telehealth company and said it sees “revenue reacceleration.” “We are upgrading GDRX to Outperform and establishing a $10 price target following the companies inaugural investor day where we leave incrementally positive on the stock given GDRX’s reaccelerating revenue, improving margins, more focused business strategy, and attractive valuation at 8.6x 2026 EBITDA which is only up ~1x from 7.5x at the lows in November 2023.” Wolfe adds Advanced Micro Devices to its Alpha List Wolfe added the semis company to its Alpha List. The firm also removed Nvidia from the Alpha List but says it still likes the stock. “We make a tactical shift in priority to AMD, adding it to the Wolfe Alpha List, replacing NVDA given the relative move in shares YTD.” Bank of America reiterates SharkNinja as buy Bank of America said in its initiation of SharkNinja that it sees accelerating growth for the household products and electronics company. “In less than three decades, the company has become a leading household brand –and we think it is poised for further growth. Bank of America upgrades Trupanion to buy from neutral Bank of America raised its price target on the stock to $49 per share from $35 and says margins are starting to improve. “more upside even after short squeeze Shares of TRUP have rallied 9% over the past four trading days as highly shorted stocks with large retail trading volumes have surged on short covering.” Argus upgrades Wayfair to buy from hold Argus said the company is well positioned to “benefit from growth in online purchases of home furnishings.” “We are upgrading Wayfair Inc. to BUY from HOLD, with a price target of $83.”
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