Wall Street Updates: Key Analyst Calls for Monday
- Analysts on Wall Street have issued significant calls regarding major technology companies.
- Companies highlighted include Nvidia, Apple, Tesla, Microsoft, and Amazon.
- These recommendations reflect the analysts' confidence in the tech sector's prospects.
On Monday, Morgan Stanley made significant adjustments to its stock ratings, notably reiterating its "overweight" stance on Netflix and raising its price target from $700 to $780 ahead of the company's upcoming earnings report. The firm also upgraded Apple to "overweight," increasing its price target from $216 to $273, declaring it their "Top Pick" in the tech sector. In a contrasting move, Morgan Stanley downgraded BP from "overweight" to "equal weight," citing disappointing earnings as the primary reason for the shift. The firm expressed concerns about the oil giant's performance, indicating a more cautious outlook. Additionally, Morgan Stanley initiated coverage on Zeta with an "Outperform" rating and a price target of $42, highlighting its potential to disrupt the marketing technology landscape. Meanwhile, Bank of America maintained its "buy" rating on Amazon, expressing optimism as the company approaches its Prime Day event. The bank believes that Amazon is well-positioned for growth after a period of stagnation. Citi also made headlines by naming KLA Corporation a "top pick," raising its price target from $760 to $980, reflecting confidence in the semiconductor equipment maker's prospects. Lastly, Morgan Stanley downgraded Rocket Lab from "overweight" to "equal weight," citing a limited catalyst path for the space company and lowering its price target from $8 to $6, indicating a more cautious stance on its future growth potential.