Here are Thursday's biggest analyst calls of the day: Amazon, Nvidia, Walmart, PayPal, Apple & more

Published Thu, Jun 24 20218:13 AM EDTUpdated Thu, Jun 24 20218:33 AM EDT

Here are the biggest calls on Wall Street on Thursday: UBS reiterates General Electric as buy UBS kept its buy rating on General Electric and said it was the most "vaccine levered" stock in the firm's coverage. "We remain constructive on GE driven by continued portfolio simplification and the turnaround resulting in a simpler Industrial company with high single digit FCF/Sales number over the next ~2-3 years." Citi reiterates Walmart as buy Citi kept its buy rating on shares of the big-box retail giant and said it had an "attractive multiple." "We continue to believe that WMT is emerging from the pandemic stronger than ever. The core business strength was evident in 1Q results, and over the next several years we expect strength to be driven by growth in additional higher-margin profit streams such as advertising, fulfillment services, marketplace and FinTech." Bank of America reiterates Nvidia as buy Bank of America confirmed its buy rating on shares of Nvidia and said the crypto impact was "overstated." " NVDA 's PC gaming graphics cards (GPU) are used off-label for mining certain crypto-currencies (Ethereum, not Bitcoin), making NVDA stock sensitive to daily crypto-currency price volatility." UBS initiates Colgate-Palmolive as buy UBS said it sees long-term growth and improving emerging markets for Colgate . "Path to accelerated organic revenue growth longer-term supported by a greater focus on premium innovation driving category growth, the potential for emerging markets to improve, and the benefit of a thriving Hill's business." UBS initiates Clorox as sell UBS said Clorox faces "earnings downside." "Greater demand for products at home and in cleaning during COVID has masked challenging underlying issues across several categories; fundamental improvement will require significant reinvestment + innovation with likelihood for earnings downside vs. consensus expectations in FY22." DA Davidson initiates Square and PayPal as buy DA Davidson initiated coverage of several payment stocks and said it saw "strong" macro tailwinds. "Pricing Watershed Moment: PayPal' s major pricing revamp is a game-changer, not just US we expect long tail. ... .Viral growth fueled by stimulus, we're optimistic SQ can sustain the growth with marketing." Bank of America resumes Bed Bath & Beyond as buy Bank of America moved its rating on shares of the retail company back to a buy from no rating and said it sees "meme mania" cooling off. "In our view, BBBY was caught up in the momentum of 'meme stocks' such as GME, BB and AMC. Since then, BBBY shares are now trading much closer to levels pre-surge, and non-fundamentals drivers such as number of mentions on retail investor online message boards, trading volumes, and short interest have moderated." Read more about this call here. Piper Sandler downgrades Dollar Tree to neutral from overweight Piper Sandler said in its downgrade of the retail store that it sees continuing "inflationary pressures." "Our downgrade is based primarily on concerns of intensifying inflationary pressures from both freight and wages combined with core- DLTR' s inability to pass through price increases - given its fixed $1-only price point." Read more about this call here. Stifel initiated Playboy Group as buy Stifel said in its initiation of coverage of Playboy Group that it sees a "long list" of opportunities but that investors will need to be patient. "We are initiating coverage of PLBY Group with a Buy rating and 12-month target price of $52 per share. Our recommendation takes a long-term view of multi-year opportunities and contemplates two avenues of plausible upside optionality that represent more than 100% upside to the current share price." Bank of America reiterates Amazon as buy Bank of America restated its buy rating on shares of Amazon after its Prime Day event and said it sees "strong growth." "We see potential for Amazon to gain market share in eCommerce in a post-pandemic recovery, while Amazon Web Services growth could continue to accelerate, and we reiterate our Buy rating on Amazon." Morgan Stanley reiterates Apple as overweight Morgan Stanley kept its overweight rating on shares of the tech giant and said concerns about the September iPhone cycle were overblown "Concerns about iPhone 's' cycle declines and cyclical WFH demand overblown, creating LT buying opportunity. Incoming call volume on Apple is as low as we can remember over the last 5 years, which we believe stems from 4 main factors. First, we are at a seasonally low period in the iPhone cycle, which creates a demand information vacuum and elevates the relative impact of supply chain noise." Goldman Sachs upgrades Magna to buy from neutral Goldman said in its upgrade of the stock that the auto tech mobility company would be a "key provider" for new entrants into the auto market. "We upgrade Magna to Buy from Neutral, as we believe its broad set of capabilities (both in auto systems and manufacturing) position it well to be a key provider for new market entrants." Goldman Sachs upgrades Lear to buy from neutral Goldman said in its initiation of the auto parts and seat manufacturing company that it sees a "good" entry point. "In fact, with the stocks of auto suppliers including Lear recently pulling back, we believe due in part to incremental concerns on near-term semi supply, we see this as a good entry point (we do expect 2Q21 to be a difﬁcult quarter due to the chip shortages, but we consider this to be temporary and generally understood by investors)." Deutsche Bank upgrades MGM to buy from hold Deutsche Bank said in its upgrade of the casino company that it sees "improving margins." "Over the last several months, we believe many have lauded CZR, ourselves included, for their margin improvements and updated Strip margin targets, and attributed the run in MGM shares to its online successes. While both are legitimate views in our opinion, we believe the next leg of the stock story for MGM is likely to be one of improving margins that extend well beyond the 'over 30%' targets management has discussed as the LV Strip goal, as well as the 32.5% peak margins of 2006." Read more about this call here. Baird names Winnebago as a fresh pick Baird added the company as a fresh pick to its coverage list and said pessimism surrounding the stock was overdone. " Winnebago beat expectations and offered bullish retail commentary. Based on its revised outlook, the industry will fail to make a dent in the profound inventory shortage, supporting stronger shipments through C2022. RV dealer inventory fell 32% and the RV backlog nearly quadrupled to $3.7 billion, but shares are off 25% since March-highs as traders exit before retail slows relative to the pandemic surge." MoffettNathanson initiates Take-Two and Activision Blizzard as buy Moffett said in its initiation of coverage of several video game stocks that the future is "bright." "After a couple of disappointing years with relatively scarce front-line content and aging core franchises, ATVI 's Blizzard segment is poised for a renaissance. ... .Importantly, we think Take-Two has one of the best opportunities to scale organically, with significantly enhanced development capacity and a roster of world-class IP." Needham initiates Analog Devices as buy Needham began coverage of the semiconductor company with a buy rating and said it was the "preeminent" semis franchise. "Through organic development and strategic acquisitions, we believe Analog Devices has built the preeminent franchise in precision analog semiconductors, one of the most attractive segments within the entire semiconductor industry."

Tim Cook at WWDC21 on June 7th, 2021.

Source: Apple

Here are the biggest calls on Wall Street on Thursday: