Here are the biggest calls on Wall Street on Friday:
Citi says it sees macro concerns for Nvidia and lowered its price target but is standing by the stock.
“Net-net, we lower our CY25/26 EPS 3%/6% respectively, trim TP to $150 using 30x P/E (3-5 year average) times CY26 discounted EPS. Maintain Buy.”
JPMorgan says the stock remains a top pick.
“We believe AMZN sentiment remains fundamentally bullish supported by improving GenAI positioning, potential for 2H AWS growth pick-up, & N.America OI margin expansion. However, AMZN has the most direct impact to tariffs & macro slowdown.”
The firm says the security and software company has a differentiated offering.
“We are initiating coverage of FROG with an Outperform rating and a $40 price target. We are entering the story as security, AI, and enterprise become emerging growth catalysts that can drive valuation multiple expansion.”
Citi says it doesn’t see major upside ahead of Netflix earnings next week.
“Beyond results, investor focus will likely focus on updates to firm’s ad-tier and sports content strategy. While we expect a modest 1Q25 beat, we don’t see material upside at prevailing levels.”
UBS said in its upgrade of Newmont that the metals company is a beneficiary of higher gold prices.
“consensus gold price upgrades should drive positive earnings momentum, material cash returns in 2025 are supportive and should be sustainable in 2026 in a stronger for longer gold price environment. Upgrade to Buy with $60/sh target price.”
The firm says the biotech company is well positioned.
“We believe SRPT (Overweight) is undervalued relative to the commercial opportunity of its DMD [Duchenne muscular dystrophy] gene therapy and exon skipper franchise.”
The firm says it’s concerned about stalling growth for the aviation company.
“We downgrade Joby Aviation from Overweight to Equal-weight as we contemplate the macro view of the MS US Economics team which highlights recent policy on trade may weigh meaningfully on growth.”
JPMorgan says it has increased visibility in the movie theater company.
“As it relates to tariffs, we see no material impact to CNK’s domestic or Latam film supply. There is likely to be some risk on concession inputs, though we capture this in our model with lower gross profit margins in 2025 and 2026, and we note the company’s ability to previously navigate cost inflation during the pandemic through creative sourcing and strategic price increases.”
Goldman says the defense company’s valuation is compelling.
“Upgrade LHX to Buy from Sell: L3Harris could be well positioned in a higher defense spending environment, given its exposure to faster growing parts of the budget.”
Goldman says the shipbuilding company is too attractive to ignore.
“A 4/9/25 executive order appears to lay the groundwork for the administration’s attempt to substantially increase investment in and improve the U.S. shipbuilding base. While the EO does not include contractual relief for entities like HII, this remains a possibility in future policy directives. Navy shipbuilding also looks likely to be prioritized in a higher defense budget.”
Barclays says the horse racing company is defensive.
“We see CHDN as a best-in-class growth company within the U.S. land-based gaming sector, characterized by a pipeline with unique depth, breadth, and barriers to entry, a management team with the track record to execute over time, a defensive set of fundamental attributes, and current valuation that appears attractive for longer term investors here.”
Mizuho says it’s waiting for a profit recovery.
“We launch coverage of Target (TGT) with a Neutral rating and $92 PT. We believe TGT has lost some of its competitive edge lately, as comp sales have deteriorated and shrink continues to compress margins.”
Mizuho says Walmart is the “complete package.”
“We launch coverage of Walmart (WMT) with an Outperform rating and $105 PT. The multi-year rebuild from a legacy, store-based retailer into a much more tech-led player is well-documented.”
Jefferies says shares of the alternative investment company are attractive.
“Blue Owl Capital stands out in the BDC [business development company] landscape as a scaled platform offering an attractive mix of quality credit, earnings power, and dividend yield.”
BTIG says the nuclear company has a “proven technology” and path to success.
“The race to commercialize nuclear small modular reactors (SMRs) is on, with China expected to bring its first commercial SMR online next year.”
Evercore says the stock is a new top pick.
“VZ on the other hand has been forced to operate on a tightrope as its industry-leading position in postpaid phone subscribers and premium price points have generally called for a more defensive posture in a competitive marketplace.”
Bank of America says the stock is a “flight to quality beneficiary.”
“We upgrade American Express to Buy from Neutral. We think the current downtick offers long-term oriented investors an opportunity to buy a high-quality company at a reasonable valuation.”
The firm says it sees limited upside.
“We think CVX has a higher likelihood of reducing their current buyback run rate from the recent annual pace of ~$17.5B to $10.0B in the coming quarters. In comparison, we think XOM has a higher probability of maintaining the current payout pace.”
KeyBanc says the convenience store company is very well positioned.
“CASY is one of the fastest growing convenience stores, fueled by organic store growth and acquisitions of small and medium-sized chains.”
The firm says the shoe company is in the midst of a turnaround.
“Allbirds is a footwear-focused omnichannel, direct-to-consumer (DTC) retailer amidst a turnaround, with the aim to prove to consumers that comfort, design, and sustainability do not have to be mutually exclusive.”
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