Here is the best company and market research that was sent Wednesday morning to clients on Wall Street.
1. Costco to hike member fees later this year, so buy the stock, Goldman Sachs says
Investors should buy Costco shares now before two events in the next 12 months add significantly to earnings, according to Goldman Sachs.
2. Steph Curry's Under Armour swiping Nike sales: Street
Wall Street dunked on Nike's head Wednesday morning with Morgan Stanley and Bank of America Merrill Lynch downgrading the stock on concerns about weakening sales and rising competition.
3. JPMorgan downgrades NYSE owner ICE on valuation
Shares of NYSE parent company Intercontinental Exchange are overvalued, JPMorgan told clients, downgrading the stock to neutral from overweight. Volume for futures trading may cool this year, the bank also said.
4. Merrill indicator signals 19% market rally ahead
Bank of America Merrill Lynch alerted clients to a potential rally ahead based on one of the firm's quantitative models that has a 97 percent success rate.
