AMD upgrade, Molson Coors downgrade and J.B. Hunt initiation among today's top calls on Wall Street Institutional investors and professional traders rely on The Fly to learn which companies the best analysts on Wall Street are saying to buy and sell.
Research analysts at Wall Street's largest banks issue recommendations on whether a stock should be bought, held, or sold. The Fly's team of financial market experts scours hundreds of research notes daily to uncover the best trading ideas. Check out today's top analyst calls from around Wall Street, compiled by The Fly.
Top 5 Upgrades:- Piper Sandler analyst Harsh Kumar upgraded AMD (AMD) to Overweight from Neutral with a price target of $140, up from $98. The analyst is using the recent share weakness "to get constructive on the name again," saying his downgrade thesis of a slowing PC market and the lack of near-term accretion from Xilinx "doesn't appear to be playing out as expected."
- Raymond James analyst Brian Vaccaro upgraded Shake Shack (SHAK) to Market Perform from Underperform without a price target. The analyst sees a more balanced risk/reward with the shares down 35% year-to-date.
- Wedbush analyst Michael Pachter upgraded Turtle Beach (HEAR) to Outperform from Neutral with a price target of $27, up from $20. The analyst sees increased likelihood of a "favorable transaction" closing within the next three months.
- JPMorgan analyst Paul Chung upgraded Stratasys (SSYS) to Neutral from Underweight with a price target of $23, down from $25. The company posted Q1 results ahead of expectations on broad strength across system sales, which included early momentum for the Origin and H350 systems, Chung tells investors in a research note.
- Tudor Pickering analyst Matt Portillo upgraded Tesla (TSLA) to Hold from Sell. With the stock down 31% this year, Portillo sees better-than-expected automotive gross margins and what he expects to be upside to the consensus 2022 earnings view as reasons to be in a "neutral" position on the stock at current levels, he said.
Top 5 Downgrades:
- Bernstein analyst Trevor Stirling downgraded Molson Coors (TAP) to Market Perform from Outperform with a $59 price target. Molson Coors has rallied 22% year-to-date, outperforming the S&P 500 by 38%, and the European recovery has largely played out, with the company's EMEA and APAC units seeing meaningful rebound in net sales from both strong volume and price-mix growth, Stirling tells investors in a research note.
- Argus analyst John Staszak downgraded Herbalife Nutrition (HLF) to Hold from Buy. The analyst states that while the pandemic-related restrictions helped Herbalife distributors earn additional income last year, boosting its revenue and earnings, the company is now facing a tough prior-year comparison, with headwinds from rising commodity and freight costs.
- Goldman Sachs analyst Eric Sheridan downgraded Nerdy (NRDY) to Neutral from Buy with a price target of $3, down from $8. The company lowered fiscal 2022 revenue guide on a mix of revenue headwinds from a shift to a membership product, macroeconomic weakness and expectations for summer travel impacting education enrollment, Sheridan tells investors in a research note.
- BofA analyst Ronald Epstein downgraded Maxar Technologies (MAXR) to Underperform from Neutral with a price target of $25, down from $36. The first launch of the Legion satellites "shifted to the right again," Epstein tells investors in a research note.
- UBS analyst Karl Keirstead downgraded Workday (WDAY) to Neutral from Buy with a price target of $185, down from $275, following his discussions with the company's partners and ahead of its Q1 results on May 26. The stock is down 33% year-to-date but Workday shares may not fully reflect the risk that back-office HR/Fins projects might be disproportionately delayed in a downturn, the analyst tells investors in a research note.
Top 5 Initiations:
- Benchmark analyst Christopher Kuhn initiated coverage of J.B. Hunt (JBHT) with a Buy rating and $215 price target. He thinks intermodal volume growth will turn positive in 2022 as rail congestion eases and believes intermodal pricing should stay strong for the first half of the year, said Kuhn.
- Credit Suisse analyst Horace Tse initiated coverage of Cnooc (CEO) with an Outperform rating and Rmb 20 price target. The stock's minimum dividend provides downside protection by setting a valuation floor of 4% guaranteed yield, while the company's earnings and dividend upside serves as an optionality via higher oil prices, the analyst tells investors in a research note.
- Bernstein analyst Daniel Roeska initiated coverage of Stellantis (STLA) with a Market Perform rating and EUR 15.50 price target. The analyst started seven European automakers with a "cautious stance," saying inflation is set to pressure margins while the companies are facing increasing competitive pressures.
- Deutsche Bank analyst Corinne Blanchard initiated coverage of Livent (LTHM) with a Hold rating and $29 price target. The analyst sees a balanced risk/reward valuation at current share levels and views the company's expansion plans at "too ambitious."
- B. Riley analyst Eric Wold initiated coverage of Sportsman's Warehouse (SPWH) with a Buy rating and $14 price target. Coming out of the pandemic that drove a significant increase in outdoor activity and shooting sports participation, Sportsman's is well positioned to take market share over the coming years as those participants continue these activities and return for additional purchases, Wold tells investors in a research note.
Symbols:
AMD SHAK TAP HEAR HLF JBHT CEO NRDY SSYS MAXR TSLA - $724.27 /
-45.14 (-5.87%)
WDAY STLA LTHM SPWH Keywords: analyst, analyst calls, upgrades, downgrades, initiations, research, wall street