Check out today's top analyst calls from around Wall Street, compiled by The Fly.
BUY MICROSOFT: Rosenblatt analyst John McPeake initiated coverage of Microsoft (MSFT) with a Buy rating and $301 price target. The analyst, who called Microsoft "the most important software company on the planet," noted that the company has over 1.3B devices running Windows 10, over 1.2B users of Microsoft Office, 1.2B identities in its Azure Active Directory and that 75% of its revenues come from "recurring and repeatable sources."
'HISTORICALLY DISCOUNTED' VALUATION: Oppenheimer analyst Brian Nagel upgraded Lowe's (LOW) to Outperform from Perform with a $235 price target. The upgrade is "largely tactical in nature" and based on the prospects for a continued flow of funds into more cyclically focused equites as well as Lowe's "now historically discounted valuation" versus that of Home Depot (HD), Nagel told investors in a research note. The analyst, however, is "not signaling an all clear" on his "largely cautious" stance toward consumer, and in particular, shares of COVID-19 winners. He remains concerned about post-pandemic normalization in spending and more challenging comparisons.
ON THE SIDELINES: Bank of America analyst Lorraine Hutchinson reinstated coverage of Nike (NKE) with a Neutral rating and $150 price target. The analyst is bullish on the company's long-term prospects given its "accelerated innovation" and distribution strategy, but warns that risks around its profitability in China "blemishes" the investment story. Hutchinson added that investors are "well aware" that fourth quarter will be hurt by China boycotts, but the uncertainty about the duration of that weakness is a headwind for Nike.
RETAIL PRICING COMPRESSION: Compass Point analyst Chris Allen initiated coverage of Coinbase (COIN) with a Neutral rating and $325 price target. The analyst likes the stock in the near-term given "strong" second quarter trading volumes and an "attractive" valuation based on current run-rate earnings. But longer-term, he has questions, specifically around the rate of compression in retail pricing and the ability of the Coinbase to grow other revenue sources to offset that likely compression.
STRONG RECOVERY PRICED IN: Wells Fargo analyst Matthew Akers initiated coverage of Boeing (BA) with an Equal Weight rating and $244 price target as he believes a strong recovery is already pricing in. The analyst expects positive demand trends in the near-term, including a strong summer travel season given pent-up demand and improving airline cash, which could bring further aircraft orders. Further out, however, he doesn't see much upside to planned aircraft production as flat traffic 2019-2023 implies no fleet growth demand.
The analyst also started coverage of
Microsoft
+3.75 (+1.57%)
Lowe's
+5.77 (+2.95%)
Home Depot
+4.33 (+1.37%)
Nike
+0.93 (+0.70%)
Coinbase
-5.35 (-1.89%)
Boeing
+6.45 (+2.92%)
Booz Allen
+1.03 (+1.28%)
CACI
+2.49 (+0.98%)
General Dynamics
+2.525 (+1.35%)
Howmet Aerospace
+0.66 (+2.07%)
Leidos
+1.18 (+1.16%)
TransDigm
+15.65 (+2.70%)
Lockheed Martin
+3.74 (+0.98%)
L3Harris Technologies
+1.35 (+0.64%)
ManTech
-0.38 (-0.46%)
RTX
+0.95 (+1.15%)
SAIC
-0.14 (-0.16%)
Woodward
+ (+0.00%)
Northrop Grumman
+2.61 (+0.72%)