Here are Wednesday’s biggest calls on Wall Street: JPMorgan reiterates Netflix as overweight JPMorgan raised its price target on the stock to $470 per share from $380 and says it’s bullish on paid sharing. “Were updating our NFLX model to capture the broader Paid Sharing opportunity following the rollout in late May to 100+ markets.” Read more about this call here . Wells Fargo reiterates Netflix as overweight Wells raised its price target on the stock to $500 from $400 and said the firm long-term bullish on the streaming giant. “While our deep dive is a somewhat cautionary tale we still think NFLX is improving its customer lifetime value.” Wedbush reiterates Apple as outperform Wedbush raised its price target on the stock to $220 per share from $205 and said the company is in a “massive position of strength” heading into the iPhone 15 cycle. “We are raising our price target from $205 to $220 to reflect increased confidence in this upcoming iPhone cycle and reiterate Apple as an OUTPERFORM and Wedbush Best Ideas List name.” Morgan Stanley names Match a top pick Morgan Stanley said Match is the “global leader” in online dating. “We see a long and growing runway given demographic tailwinds and greater adoption of online dating among the ~620M global online singles ages 18 to 65.” Piper Sandler reiterates Amazon as overweight Piper raised its price target on Amazon to $150 per share from $130 and said it sees Amazon Web Services revenue bottoming later this year. “We’ve compiled several data points on AWS & the AI strategy. While there are puts & takes, we come away more confident in AWS revenue bottoming in 2H23.” Morgan Stanley upgrades Petrobras to overweight from equal weight Morgan Stanley said shares of the petroleum company are compelling. ” PBR has been a strong performer YTD, but we see further room for capital appreciation. And the potential total return — 51% after a ~16% dividend yield — looks compelling enough to us to justify a more positive stance on the stock in 2023.” Read more about this call here. Canaccord initiates Mobileye as buy Canaccord said Mobileye is a “past and future leader in AI for the streets.” ” Mobileye has been at this for a while, since 1999 to be exact. Focused on consumer solutions, Mobileye is the leading developer and manufacturer of advanced driver assistance systems (ADAS) and a chief pioneer in the burgeoning field of advanced AV technologies.” Piper Sandler upgrades Glaukos to outperform from neutral Piper said the ophthalmic disease company has several exciting product launches ahead. “We are upgrading shares of GKOS to OW given what we consider to be amongst the most exciting upcoming product launches in Midcap Medtech.” Rosenblatt initiates Super Micro Computer as buy Rosenblatt said the information technology company is a top AI beneficiary. “We are initiating coverage of Super Micro Computer (SMCI), dba Supermicro, with a $300 12-month PT on a system server AI provider/innovator in cloud, enterprise, and telco market segments. Supermicro fits perfectly within our world view of a secular AI-driven cycle we call the Mother of All Cycles or MOAC.” Barclays reiterates Apple as equal weight Barclays said it’s bullish on Apple pay but that investors will need patience. “Long-Term Potential with Share Gains though Near- Term Revenue Immaterial.” Edgewater Research upgrades Amazon to outperform from neutral Edgewater said Amazon ‘s sales and growth outlooks are more promising. “We are upgrading the shares to Outperform and are modeling F2Q consolidated net revenue ahead of the street and at the high-end of company guidance.” Bank of America reiterates Nvidia as buy Bank of America said it sees “sustainable AI growth” for shares of Nvidia. ” NVDA in best position to transform the $1tn non-accelerated data center market with its full stack artificial intelligence (AI) platform.” Bank of America reiterates Broadcom as buy Bank of America said Broadcom is a “compounder with best-in-class” free-cash flow. “Development of the AI market is still in the early stages, but AVGO AI-centric sales already robust, expanding from 10% of semis business in FY22 ($2.2bn) to roughly 15% of segment sales in FY23E ($4bn), and upwards of 25% of sales in FY24.” Read more about this call here. Jefferies reiterates Topgolf Callaway Brands as buy Jefferies said the combination of PGA and Liv Golf is bullish for Topgolf. “The global nature of this collaboration creates a more vibrant golfing landscape attracting new players, sponsors and fans which will inevitably fuel growth for golf OEMs, in our view. Within our coverage GOLF and MODG are beneficiaries, although we prefer MODG given its asymmetric upside potential.” UBS reiterates Home Depot as buy The firm said shares are attractive and it’s bullish on the company’s upcoming investor day. ” Home Depot’s Analyst and Investor meeting will provide a chance for the retailer to pitch why its stock is compelling.”
