Market Insights: Analyst Ratings and Stock Movements
- Analysts on Wall Street provided significant recommendations for major companies including Apple, Nvidia, and Amazon.
- The insights reflect both positive and negative sentiments towards these tech giants.
- Investors should carefully consider these calls when making financial decisions.
As Apple prepares for its F3Q24 earnings report, analysts anticipate a potential increase in iPhone sales estimates, driven by Apple Intelligence's efforts to rejuvenate its aging customer base. This could lead to higher average selling prices (ASP) in the upcoming quarters, particularly F4Q24 and F1Q25, as investor focus remains on the tech giant's strategic initiatives. In the housing sector, Goldman Sachs has downgraded Lennar from a buy to neutral, citing valuation concerns. Conversely, the firm has initiated coverage of Webtoon Entertainment with a bullish outlook, assigning a Buy rating and a 12-month price target of $62, reflecting confidence in the digital storytelling market. Abercrombie & Fitch (ANF) received an upgrade to Overweight from analysts at JMP, who noted strong demand for the brand following a 20% drop in shares since the first quarter earnings report. Meanwhile, Wells Fargo has named Burlington a top pick, raising its price target from $275 to $300, indicating a positive outlook for the retail company. In the financial sector, Morgan Stanley upgraded Fiserv to overweight, highlighting its potential as an attractive earnings compounder. Jefferies also upgraded 10x Genomics to Buy, citing its superior technology in single-cell recovery applications. On the other hand, Citi has placed Micron under a negative catalyst watch due to competitive pressures from Nvidia, while Oppenheimer reiterated its outperform rating for Coinbase, suggesting a favorable entry point for investors.