Here are the biggest calls on Wall Street on Tuesday: UBS reiterates Nvidia as buy UBS raised its price target on Nvidia to $540 per share from $475 and says it’s bullish heading into earnings next week. “Investor expectations for F2025 (C2024) EPS have risen substantially, but we recommend investors stay the course here and remain bullish amid the recent pullback in the stock over the past month.” Read more about this call here. Daiwa reiterates Disney as buy Daiwa is standing by its buy rating on Disney after the company’s earnings report last week. “The beauty of a diversified media company continues to be on full display with DIS earnings.” KBW reiterates Berkshire Hathaway as market perform KBW stood by its market perform rating after a review of the company’s 13-F. “We estimate that the value of BRK’ s equity portfolio declined by about $10.1 billion pretax quarter-to-date, implying a $5.5 billion (1.1%) after-tax QTD decrease from its 2Q23 book value per share.” Deutsche Bank reiterates Palo Alto Networks as buy Deutsche is bullish heading into earnings later this week. “As the industry exits a pandemic-fueled product super cycle of the past couple years, we look to Palo’s leadership in defining what comes next.” Morgan Stanley upgrades Pharvaris to overweight from equal weight Morgan Stanley said in its initiation of the pharmaceutical company that it sees “upside optionality.” ” Pharvaris clears first hurdle for on-demand treatment while prophylactic market provides upside optionality.” Read more about this call here. Wells Fargo reiterates JPMorgan, Citigroup and Bank of America as overweight Wells is standing by its overweight ratings on banks like JPMorgan , Citigroup and Bank of America , adding that “peak rates” are good for the stocks. “Peak rates could be good for bank stocks.” Evercore ISI reiterates ServiceNow as outperform Evercore ISI raised its price target on the stock to $650 per share from $600, saying it’s bullish on the company’s generative AI opportunities. ” ServiceNow is set to unveil its Vancouver release in late September that will include many of its first Gen AI services.” Barclays reiterates Walmart as overweight Barclays is bullish heading into earnings later this week. ” Walmart’s retail story this quarter should continue to center on stronger share gains and signs of stabilization in general merchandise to support the path to at least +LSD [low single digits] comps in H2, in an increasingly difficult backdrop for staples retail. Bank of America upgrades Hannon Armstrong to buy from neutral Bank of America said in its upgrade of the climate solutions company that it’s an Inflation Reduction Act beneficiary. “We upgrade the shares of Hannon Armstrong (HASI) to Buy from Neutral as Inflation Reduction Act (IRA) tailwinds have been stronger than we expected. KeyBanc initiates Oddity as overweight Key initiated coverage of the Israeli beauty tech platform that went public last month, saying Oddity is well positioned to be a “disruptive tech growth story.” “Initiating at Overweight on Disruptive Tech Growth Story in Early Stages.” Evercore ISI adds Pure Storage to the tactical outperform list Evercore is bullish heading into earnings for the data storage company later this month. “We are adding Pure to the tactical outperform list. PSTG looks well positioned heading into its July-qtr; PSTG will report July-qtr results on August 30th after market close.” Bank of America downgrades Phillips 66 and Marathon Petroleum to neutral from buy Bank of America downgraded several refiners and said the risk/reward is “no longer compelling.” “While we remain confident in an enduring level of higher average earnings in what we have termed a ‘Regional Golden Age’ for U.S. refiners, we believe risk/reward is no longer compelling. Our ratings on VLO, PBF, PSX , MPC and DINO move to Neutral, leaving us with no Buy ratings across the U.S. refiners for now. Morgan Stanley reiterates Ford as overweight Morgan Stanley stood by its overweight rating on shares of Ford. “Our [overweight] thesis is contingent on a material change in EV strategy, including greater collaboration with competitors.” Bank of America initiates Turnstone Biologics as buy Bank of America said the biopharmaceutical company is well positioned. “Turnstone Biologics ( TSBX ) is a clinical-stage biopharmaceutical company developing tumor infiltrating lymphocytes (TIL), a type of cellular immunotherapy for treating certain cancers.”
This story originally appeared on CNBC
