United Airlines upgrade also among today's top calls
Check out today's top analyst calls from around Wall Street, compiled by The Fly.
RESURGENCE OF IT SPENDING: Wolfe Research analyst Jeff Kvaal upgraded Cisco (CSCO) to Outperform from Peer Perform with a $63 price target. He believes a significant firming in IT spending should provide a tailwind to Cisco through FY22 and argues for a higher multiple given the company's rising software mix and improving hyperscale performance.
FUTURE NBCU UPSIDE: Raymond James analyst Frank Louthan upgraded Comcast (CMCSA) to Outperform from Market Perform with a $61 price target ahead of the company's Q1 results. Louthan believes there is future NBCUniversal upside from high single digit strength, Peacock subscriber growth, improved theatrical revenue, and phased theme park reopenings, the analyst tells investors in a research note. The analyst contends that any Title II-related fallout likely won't join the fold until at least 2022. UNITED UPGRADED ON CAPACITY AND COST PLANS: Argus analyst John Staszak upgraded United Airlines (UAL) to Buy from Hold with a $66 price target. He has a favorable view of the company's plans to limit capacity, reduce structural costs, and restore margins to 2019 levels, Staszak tells investors in a research note. He also sees an earnings benefit from stable fuel costs and a stronger than previously projected recovery in flight demand, the analyst added. 'LOTS OF RUNWAY': Loop Capital analyst Kenneth Hill initiated coverage of Coinbase (COIN) with a Buy rating and $394 price target. The company is a "leading crypto exchange" at its "most basic level", but at its core, it is a "customer acquisition story," the analyst tells investors in a research note. The success of Coinbase will be driven by how effectively it is able to add customers and gather assets on its platform over time, Hill adds, stating that crypto adoption is still in its "early days."
'STRONG RUN': Morgan Stanley analyst Victoria Greer downgraded Goodyear Tire (GT) to Equal Weight from Overweight with an unchanged price target of $16 after "a strong run" in the stock price. She continues to like the Cooper deal, sees potential for incremental savings from plant closures, and remains positive on tire industry pricing, but she expects the stock to consolidate gains near current levels, the analyst said.
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