Check out today's top analyst calls from around Wall Street, compiled by The Fly.
PC BUILDS SLOWDOWN, SHARE LOSS: Goldman Sachs analyst Toshiya Hari downgraded Intel (INTC) to Sell from Neutral with a price target of $54, down from $65. Recent industry checks indicate a slowdown in PC builds in the second half of 2020 and continued share loss for Intel in the client and server central processing unit markets, Hari contended. The analyst also cut 2021 and 2022 earnings estimates to below Street levels and said he sees 9% downside in Intel shares.
VALUATION: Imperial Capital analyst David Miller downgraded Netflix (NFLX) to In-Line from Outperform with an unchanged price target of $489. Citing valuation for the downgrade, the analyst noted that the shares are up over 50% since January 2. As a result, the analyst sees only an additional 2.5% upside in Netflix.
SELL SPOTIFY: Bernstein analyst Todd Juenger downgraded Spotify Technology (SPOT) to Underperform from Market Perform with a price target of $172, up from $134. The analyst pointed out that the market has added $20B of value to Spotify since the Joe Rogan podcast announcement. However, he continues to believe it is unlikely that Spotify will generate much earnings from podcasts. Juenger sees 37% potential downside in Spotify shares at current levels.
HEAVY DEMAND FOR DELIVERY: OTR Global upgraded Domino's Pizza (DPZ) to Positive from Mixed. The firm cited checks that indicate heavy demand for delivery, strong mobile ordering growth, and an increase in larger orders that contributed to strong sales during the month of June, with third quarter sales expected to normalize at higher levels.
'SIGNIFICANT TURNAROUND POTENTIAL': Citi analyst Shawn Collins initiated coverage of Harley-Davidson (HOG) with a Buy rating and $33 price target. The analyst acknowledged that the recent decline in shares reflects a likely further near-term collapse in volumes and margins. However, he believes it gives no credit for the "significant turnaround potential" under new CEO Jochen Zeitz.
Intel
-0.03 (-0.05%)
Netflix
+5.21 (+1.09%)
Spotify
+0.215 (+0.08%)
Domino's Pizza
+5.65 (+1.51%)
Harley-Davidson
+1.44 (+6.14%)