CNBC Pro brings you real-time coverage of Thursday's analyst calls and the latest discussions on Wall Street. Refresh every 20-30 minutes to stay updated.
Bank stocks and a major chipmaker took center stage today, with KBW naming Goldman Sachs, Truist, and KeyCorp as its top bank picks for the upcoming year. Meanwhile, AMD revealed the Instinct MI300X, a chip set to rival Nvidia's AI semiconductors, prompting varied reactions across Wall Street. Stifel initiated Rivian with a buy rating, foreseeing substantial gains for the EV manufacturer.
Let's dive into the latest analyst calls and market buzz:
Wells Fargo initiates Match Group with an equal weight rating, citing headwinds as competitors encroach on its market share. While owning Tinder, a leading dating app, Match Group faces challenges as Hinge gains traction, potentially impacting overall growth.
Raymond James turns bullish on Biogen, upgrading the stock to outperform. The firm anticipates the accelerated launch of Biogen's Alzheimer's drug Leqembi in 2024 and foresees strong performances from rare-disease treatment Skyclarys.
JPMorgan raises Boeing's price target to $270, expressing optimism about the aerospace giant's long-term free cash flow. Despite acknowledging potential challenges, the firm sees positive cash profitability ahead.
Bank of America downgrades Take-Two Interactive to neutral, citing a delay risk for the upcoming Grand Theft Auto installment. The firm acknowledges the potential for a rally under specific conditions, including confirmation of FY25 guidance.
Bank of America maintains optimism on Wingstop, noting sustained consumer interest and growth in customer traffic. The bank raises its price target to $285, reflecting a positive outlook for the specialty restaurant.
Wells Fargo initiates Bumble with an overweight rating, projecting substantial market share growth. The firm sees Bumble gaining traction, particularly against industry incumbent Tinder, and sets a $19 price target.
Goldman Sachs names Thermo Fisher Scientific a top pick for 2024, citing the company's exceptional business model and potential growth driven by ongoing innovation in health and science.
Stifel initiates coverage on Rivian with a buy rating, foreseeing a 25% upside. The firm highlights positive catalysts, including a significant deal with Amazon for cargo vehicles and expectations of growing margins.
Bank of America declares Amazon its top pick in the U.S., projecting share gains and margin expansion. The firm sees advertising opportunities, regionalization benefits, and AWS acceleration driving Amazon's continued success.
Morgan Stanley expresses confidence in Oracle ahead of its fiscal second-quarter results, expecting a rebound. The firm emphasizes continued durability in Fusion applications growth, particularly in enterprise resource planning.
Bank of America reiterates its buy rating for Nvidia and designates it a top pick, emphasizing the substantial opportunity and demand for the chip manufacturer's products in the AI space.
KBW identifies Goldman Sachs, Truist, and KeyCorp as its top large-cap banks for 2024, citing favorable drivers for each. The firm projects specific growth and benefits for Goldman Sachs in capital markets, Truist in tangible book value, and KeyCorp in tangible common equity.
Stay tuned for more updates as the day unfolds. Refresh for the latest analyst calls and market insights.
In conclusion, today's analyst calls and market chatter have provided a comprehensive overview of key developments in various sectors. From banking stocks to semiconductor giants and electric vehicle manufacturers, Wall Street analysts have shared insights into their top picks and expectations for the coming year. The diverse range of recommendations reflects the dynamic nature of the market, with attention on factors such as market share dynamics, product launches, and growth prospects. Investors are advised to stay tuned for further updates as the day progresses, keeping a close eye on evolving market trends and analyst sentiments.
