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Listed here are Wednesday’s greatest calls on Wall Road: Morgan Stanley reiterates Tesla as obese Morgan Stanley mentioned in a word Tuesday evening that it sees “threat and alternative” for Tesla in China. “The race for world EV battery dominance goes hand-in-hand with geopolitics and nationwide safety. Tesla is extremely uncovered to each the danger and the chance.” Morgan Stanley reiterates Apple as obese Morgan Stanley mentioned App retailer deceleration for Apple i n July was worse than we anticipated. “Based mostly on the newest disclosures from Sensor Tower, we estimate App Retailer internet income progress decelerated to +1% Y/Y within the month of July, a 1.5 level deceleration from 2.5% Y/Y progress within the month of June.” Citi upgrades Mosaic to purchase from impartial Citi mentioned in its improve of the fertilizer firm that it sees tightening ag circumstances for Mosaic. “We anticipate Ag shares to outperform in a slowing financial setting because the Ag business is in a considerably completely different cycle than the economic system and the circumstances in fertilizers are more likely to tighten once more after the seasonal summer time slowdown, particularly because the Latin American season comes into focus within the subsequent few months.” Bernstein downgrades Caterpillar to market carry out from outperform Bernstein mentioned it is involved about slowing progress that is not totally priced into the inventory. “A number of indicators level to order progress markedly slowing in 2H22 then turning unfavourable in 2023, CAT has turn into too reliant within the present setting on pricing to drive progress, and the danger of unfavourable earnings revisions to 2023 and 2024 estimates of 16% and 39% (45% in our recession situation), respectively, has not been totally factored into shares.” Learn extra about this name right here . RBC upgrades Sealed Air to outperform from sector carry out RBC mentioned the air packaging inventory is enticing at present ranges. “We improve SEE to OP from SP, as we consider that at present ranges the inventory is enticing and gives ~25% potential upside given modest FY23 assumptions.” Goldman Sachs initiates Kymera as purchase Goldman mentioned the biotech firm has a sexy threat/reward. “We see Kymera as uniquely positioned as a number one participant within the rising area of focused protein degradation (TPD) and search for the corporate to advance a number of pipeline property as novel first-in-class small molecule therapeutics addressing a variety of significant ailments.” Learn extra about this name right here. Raymond James upgrades Uber outperform from market carry out Raymond James upgraded the ridesharing firm after its “sturdy” earnings report on Tuesday. “We’re upgrading shares of Uber to Outperform (from Market Carry out) and establishing a $38 worth goal following sturdy 2Q outcomes and outlook.” Learn extra about this name right here. Financial institution of America reiterates Starbucks as purchase Financial institution of America stored its purchase score on the espresso big after its earnings report on Tuesday , noting it expects continued comps momentum. “Sturdy comps – 9% within the U.S., but additionally double digits in markets just like the UK and Japan – underscore the continued world power of the model. We consider the absence of any diminished spending or trade-down displays the comparatively larger revenue traits of the Starbucks buyer, but additionally the efficacy with which SBUX can use its loyalty program to drive demand in a focused method.” KeyBanc reiterates Chipotle as obese KeyBanc mentioned that its survey checks present that Chipotle is beginning to roll out worth will increase. “Based mostly on our proprietary scrape of Chipotle’s digital menu, the Firm seems to be within the technique of rolling its beforehand introduced worth enhance throughout its system. In keeping with our knowledge, Chipotle elevated menu costs in roughly 703 of its 3,053 shops (as of in the present day), concentrated primarily within the Southeast, Southwest, and components of the West Coast.” Financial institution of America reiterates Superior Micro Gadgets as purchase Financial institution of America mentioned following AMD’ s earnings report that it sees a “generational share achieve” alternative to purchase the inventory. “Regardless of extreme macro/PC/enterprise headwinds alluded to by Intel, AMD largely maintained its strong CY22 outlook for mid 30s%+ YoY natural gross sales progress.” Learn extra about this name right here . Wells Fargo reiterates House Depot and Lowe’s as obese Wells mentioned it was standing by each house enchancment shares however that the second half of the 12 months could possibly be more durable for the businesses. “If Q2 has taught us something so far, LOW shares might see some aid on EPS day. Sentiment is weak, Q2 seems poised to overlook, and the 2H outlook (w/ 3-yr acceleration implied) seemingly wants a re-set. Whereas this might show a clearing occasion, HD stays our most well-liked 2H play, because the DIY buyer is slowing, climate volatility persists (drought, hurricane season, and so on.) and we merely view HD extra insulated as main macro indicators start to ‘flip purple.'” Citi reiterates Roku as purchase Citi minimize its worth goal on the inventory to $125 per share from $165, however mentioned it is nonetheless “constructive” on the inventory. ” Roku’s 2Q22 outcomes and outlook had been disappointing. Nonetheless, our evaluation suggests Roku’s Platform revenues are carefully monitoring YouTube’s tendencies. As such, we consider the current topline weak spot is a perform of macro headwinds and doesn’t replicate execution points on the agency.” JPMorgan reiterates Robinhood as underweight JPMorgan mentioned market circumstances stay “poor” after the corporate’s disappointing earnings report on Tuesday. ” Robinhood introduced outcomes a day forward of schedule. The corporate reported a lack of $0.34, in need of our expectations. The market setting stays significantly poor for Robinhood, however nonetheless the corporate is underperforming expectations in a number of areas.’ Learn extra about this name right here.
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