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The biggest analyst calls on Wednesday: Apple, Nvidia, Amazon, Meta, Uber, Disney, Coinbase, Tesla & more



On Wednesday, Wall Street saw a flurry of calls from top financial institutions regarding various companies. BMO initiated Old Dominion as outperform, highlighting the freight company’s strong performance over the past three freight cycles. Morgan Stanley reiterated Tesla as overweight, emphasizing the importance of Elon Musk achieving a 25% voting stake in the company. Bank of America reaffirmed Nvidia as a buy, pointing to its position in enabling the $3 trillion IT industry towards delivering AI services. Gordon Haskett upgraded Instacart to buy from neutral, citing an attractive risk/reward despite a post-1Q print decline. Barclays reiterated Taiwan Semiconductor as overweight, raising its price target on the leading global foundry. Morgan Stanley upgraded Boston Beer to equal weight from overweight, indicating a more balanced risk/reward for the beer giant.

Additionally, Oppenheimer reiterated Uber as a top idea, citing the potential for significant upside from healthy affluent consumers and travel demand. Barclays upgraded Applied Materials and KLA to equal weight from underweight, noting an improvement in China spend for the semi manufacturers. JPMorgan upgraded Sunoco to overweight from neutral, urging investors to buy the dip in shares of the oil and gas giant. Citi reiterated Apple as buy, bullish heading into the company’s Worldwide Developer’s Conference. Guggenheim reiterated Disney as buy, highlighting healthy demand trends and consumer engagement in Disney Parks. Goldman initiated Jazz Pharmaceuticals as buy, citing a compelling pipeline. Bernstein reiterated Amazon as a top pick, emphasizing the e-commerce giant’s ability to deliver profitability and fund AI investments. Needham reiterated Coinbase as buy, expecting a better regulatory outlook and possible Ether ETFs. Benchmark initiated EVgo as buy, bullish on the EV charging operator. Raymond James reiterated Meta as strong buy, raising its price target based on increased conviction on GenAI prospects. HSBC upgraded AbbVie to buy from hold, adding it to their quality growth bucket. KeyBanc initiated LifeMed as overweight, pointing to strong top and bottom line growth potential.

In conclusion, the calls from various financial institutions on Wednesday offer valuable insight into the performance and outlook of different companies across various industries. Investors may consider these recommendations and analysis when making decisions about their investment portfolios.

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