Wall Street saw a flurry of calls on Tuesday, with Evercore ISI initiating Nvidia as outperform and highlighting its ecosystem play, UBS upgrading Rivian to buy, and Deutsche Bank downgrading Honeywell to hold. Meanwhile, Bank of America initiated Reddit as neutral, JPMorgan reiterated Tesla as underweight, Citi added a positive catalyst watch on Coty, and Goldman Sachs initiated GE Vernova, DraftKings, and Genius Sports as buys. Additionally, HSBC upgraded Advanced Micro Devices, Wells Fargo upgraded Kroger, Needham reiterated Apple as buy, and JPMorgan reiterated Amazon, Meta, and Alphabet as top picks.
Several firms also made notable upgrades and reiterations, with Barclays upgrading Tyson Foods to overweight, Morgan Stanley initiating Auna as overweight, Loop reiterating Super Micro as buy, William Blair initiating On Holding as buy, Cantor Fitzgerald initiating Klaviyo as buy, UBS upgrading TD Synnex as buy, Baird upgrading Crown Holdings to outperform, and Argus upgrading Goldman Sachs to buy. Lastly, Guggenheim reiterated Netflix as buy and Deutsche Bank named General Motors a top pick in anticipation of upcoming earnings.
Overall, the varied calls reflected diverse perspectives on different companies across various sectors, showcasing the dynamic and ever-evolving nature of the stock market. Investors were presented with a range of opportunities and challenges, with some companies seen as poised for growth and others facing potential headwinds. The analysis from different financial institutions provided valuable insights for market participants looking to navigate the current landscape and make informed decisions regarding their investment strategies.
