On Thursday, major financial institutions provided insights and updates on several key stocks, reflecting their strategic outlooks and re-evaluations post-earnings reports.
Bank of America reiterated its “buy” rating on Nvidia and raised its price target from $275 to $300. The firm emphasized Nvidia’s significant growth potential as it transitions from a traditional PC graphics chip manufacturer to a leader supplying advanced technology in high-end gaming, enterprise graphics, cloud computing, accelerated computing, and automotive markets.
Morgan Stanley maintained an “overweight” rating on Snowflake, despite lowering its price target from $270 to $245. The investment bank expressed confidence in Snowflake’s positioning in the market, citing that its recent Q4 results indicate a robust demand environment for the cloud-based data platform.
JPMorgan also reiterated its “overweight” stance on Salesforce, though it reduced the price target from $365 to $320. The bank praised Salesforce as a pioneering force in the cloud computing sector, highlighting its diverse product success and substantial growth trajectory.
In a contrasting move, Citizens downgraded C3.ai from “market outperform” to “market perform” following disappointing Q3 results. The assessment reflected concerns about the company’s performance and future outlook.
Oppenheimer maintained an “outperform” rating on Broadcom ahead of its upcoming earnings report. The firm projected that Broadcom would exceed current sales and earnings estimates, fueled by accelerating AI-related sales.
Wells Fargo upgraded Alcon from “equal weight” to “overweight,” raising its price target to $97 from $88. The bank cited a promising new product cycle expected to enhance growth through 2026.
JPMorgan reiterated its “overweight” rating on Apple, pointing to the company’s competitive edge in the emerging personal AI companion market. The bank believes Apple’s new personalized Siri features will be crucial for its success in integrating various applications.
William Blair initiated coverage on Builders FirstSource with an “outperform” rating, suggesting an attractive risk/reward scenario for the building-products distributor focused on new residential projects.
H.C. Wainwright & Co upgraded Joby from “neutral” to “buy,” setting a price target of $18. The firm noted several positive catalysts, including nearing certification milestones and plans to double the company’s eVTOL production capacity by 2027.
Loop downgraded Trade Desk from “buy” to “hold,” citing a lack of visibility following an earnings report that revealed a beat on expectations but a disappointing revenue growth outlook for the upcoming quarter.
Truist upgraded U.S. Bancorp from “hold” to “buy,” highlighting an attractive risk/reward setup as the bank is expected to see accelerating net interest income growth and improvements in net interest margin.
Lastly, TD Cowen upgraded Nasdaq from “hold” to “buy,” lifting its price target following a recent investor day. The firm expressed increased confidence in Nasdaq’s platform durability, especially in the FinTech sector.
