Wall Street"s Top Analyst Calls on Nvidia, Apple, Tesla and More
- Bank of America reiterated its buy rating on Nvidia after its earnings report, showing confidence in the stock.
- Barclays upgraded Foot Locker to overweight, citing a return to growth and improved sales metrics.
- The mixed analyst outlook highlights both growth potential and challenges for various companies in the market.
On Thursday, several significant analyst calls were made regarding major companies in the tech and retail sectors. Bank of America reaffirmed its buy rating on Nvidia, indicating confidence in the stock following its recent earnings report. Meanwhile, Barclays upgraded Foot Locker to overweight, citing a return to growth and improved sales metrics in their second quarter results. This upgrade reflects a positive shift in the retailer's performance, including sustainable positive comps and better merchandise margins. Citi named Apple a top pick heading into 2025, anticipating that the upcoming iPhone 16 launch will enhance the AI experience for users. This strategic positioning suggests that Apple is expected to leverage advancements in technology to maintain its competitive edge. Additionally, William Blair initiated coverage of Tesla with an outperform rating, driven by the company's potential in the energy sector, highlighting the growing importance of renewable energy solutions. In contrast, Morgan Stanley downgraded Cava to equal weight, despite raising its price target, indicating that the stock's valuation no longer presents significant upside. This decision reflects a cautious approach to the stock's future performance. Furthermore, JPMorgan downgraded Kohl's to underweight, citing multiple negative catalysts following the company's earnings report. Overall, these analyst calls illustrate a mixed outlook for various companies, with some showing promising growth potential while others face challenges. Investors are advised to consider these insights as they navigate the current market landscape.