Goldman Sachs supports Apple with price target drop ahead of earnings
- Goldman Sachs has reaffirmed its buy rating for Apple, reducing its price target to $256 per share ahead of upcoming earnings.
- Citi continues to recommend Nvidia and initiated a buy rating for Coinbase, indicating expected strong performance ahead.
- The mixed analyst calls show a cautious optimism around various companies, highlighting the importance of upcoming earnings reports.
On April 23, 2025, various financial firms made significant analyst calls concerning several major companies on Wall Street. Goldman Sachs reaffirmed its buy rating for Apple, despite reducing its price target from $259 to $256 ahead of Apple's earnings report scheduled for May 1. The firm expressed optimism about the stock's future, suggesting that recent volatility might be stabilizing as delivery and market sentiment appear to be improving. Meanwhile, UBS also reduced its price target on Apple to $210 while maintaining a neutral stance, noting that Apple seems to have accelerated iPhone shipments in anticipation of tariffs. In contrast to Apple's analysts, Citi maintained a buy rating for Nvidia and highlighted positive trends leading into Roblox’s first quarter earnings release. With expectations for solid bookings performance, analysts noted confidence in Nvidia’s position. Furthermore, Citi initiated coverage of Coinbase with a buy rating and set a price target of $252 per share, based on strong projected earnings for FY26. As analysts issue mixed sentiments across different sectors, attention is turning towards the implications of market trends and corporate earnings on stock performance. Additional movements in analyst ratings included Bernstein upgrading Cava from market perform to outperform due to an attractive risk/reward profile, while Piper Sandler downgraded Oracle to neutral, citing margin pressures. Morgan Stanley also downgraded several solar companies, flagging growth and margin concerns within the rooftop solar market. KeyBanc made moves to upgrade specialty materials firm ATI to overweight, citing its advantageous positioning in the current market landscape. The varied analyst calls reflect a broader trend of cautious optimism amid potential economic challenges for various sectors. Amid these shifting sentiments, investors are advised to watch closely for the upcoming earnings reports and the ongoing adjustments to stock ratings as analysts recalibrate their expectations based on market realities. These trends underline the complexity of current market conditions as firms reassess their strategies and positions heading into crucial earnings periods.