Wall Street Updates: Key Stock Ratings and Upgrades
- Analysts on Wall Street have released their evaluations of major companies, including Apple, Nvidia, and Tesla.
- These insights reflect the current market conditions and investor sentiment towards these tech giants.
- Investors should monitor these updates closely for potential impacts on stock performance.
On Tuesday, TD Cowen initiated coverage of Procter & Gamble with a "buy" rating, citing the company's strong pricing power despite recent challenges stemming from a global IT outage. The firm adjusted its target price due to emerging near-term risks but remains optimistic about P&G's market position. Morgan Stanley made significant moves in the footwear sector, upgrading Skechers to "overweight" from "equal weight" based on promising channel checks. Conversely, the bank downgraded Under Armour to "underweight," indicating that its market performance is currently in "neutral- to-negative" territory. In the tech sector, Bernstein reaffirmed its "outperform" rating for Apple ahead of the company's earnings report on August 1. Meanwhile, HSBC upgraded Krispy Kreme to "buy" from "hold," anticipating a quicker pace of debt reduction for the donut chain. JPMorgan also upgraded EQT to "overweight," encouraging investors to buy the dip in shares of the natural gas pipeline company. Morgan Stanley maintained its "overweight" rating on Nvidia, although it expressed caution regarding demand for the H20 chip. The firm also reiterated Amazon as a top pick, raising its price target to $240 per share. Additionally, HSBC upgraded Rio Tinto to "buy," citing a bullish outlook for copper and platinum prices, while Morgan Stanley upgraded Snap to "equal weight" due to improvements in advertising performance and initiated coverage of Alumis with an "overweight" rating.