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Analyst Calls on Wednesday: United Airlines receives upgrade, Apple named top pick

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On Wednesday, analysts were busy discussing stocks like United Airlines and Apple, with United receiving an upgrade to buy at Jefferies, predicting a potential upside of nearly 30% for the company. Bank of America also reiterated Apple as a top pick, citing the potential for consumers to upgrade to AI-enabled phones. Morgan Stanley named SLB as its top pick within the U.S. energy services and equipment space, highlighting the stock’s pullback as a buying opportunity for investors and discussing the potential value created by SLB’s proposed acquisition of ChampionX.

Jefferies upgraded United Airlines to a buy rating, with a new price target of $65, indicating a possible 28% increase in stock price. Analyst Sheila Kahyaoglu pointed to United Airlines’ investments in its product offering, particularly through the United Next initiative, which aims to add more than 800 aircraft to its fleet. She also mentioned the potential for international margins, currently higher than domestic margins, to further boost the stock. Additionally, Bank of America reiterated Apple as a top pick, with analyst Wamsi Mohan predicting a 21% upside over the next 12 months due to the potential for consumers to upgrade to AI-enabled phones.

Morgan Stanley named SLB as its top pick within the U.S. energy services and equipment space, citing the stock’s pullback this year as a buying opportunity for investors. Analyst Daniel Kutz also discussed the value created by SLB’s proposed acquisition of ChampionX, highlighting the potential for long-term value for the stock. Kutz expressed optimism for the energy services and equipment industry, noting that service stocks are currently trading at a discount compared to historical levels, which should normalize in the future.

United Airlines received an upgrade from Jefferies to a buy rating, with a new price target of $65, suggesting a potential 28% increase in stock price. Analyst Sheila Kahyaoglu pointed to the airline’s investments in its product offering, such as the United Next initiative, as catalysts for continued leadership among its peers. She also mentioned the strong international margins that have helped boost the stock, though she expects this trend to level out sometime this year. Kahyaoglu also highlighted the shareholder-friendly management team and increased free cash flow generation as positive factors for the stock.

On the other hand, Bank of America reiterated Apple as a top pick, with analyst Wamsi Mohan maintaining a buy rating and a price target of $230, implying a 21% upside over the next 12 months. Mohan emphasized the potential for consumers to upgrade to AI-enabled phones, likening it to a once-in-a-decade type of event that could drive a multi-year upgrade cycle for Apple. Despite lagging behind other major tech names this year, Mohan remains bullish on Apple’s future prospects.

Overall, analysts are optimistic about stocks like United Airlines, Apple, and SLB, highlighting potential upside for investors in these companies. United Airlines’ focus on product offerings, particularly through the United Next initiative, and Bank of America’s anticipation of a significant upgrade cycle for Apple due to AI-enabled phones, suggest promising opportunities for growth in these stocks. Additionally, Morgan Stanley’s bullish stance on SLB and the potential value created by its proposed acquisition of ChampionX further underscore the positive outlook for the U.S. energy services and equipment space. Investors may want to keep an eye on these stocks as they continue to garner attention from analysts and generate buzz on Wall Street.

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