Here are Thursday's biggest analyst calls: Meta, Apple, Amazon, GE, Sunrun, Micron, Microsoft & more

Published Thu, Sep 28 20238:40 AM EDT

Here are the biggest calls on Wall Street on Thursday: BTIG initiates FlyWire as buy BTIG said the future looks bright for the global payments and software company. " Flywire's early recognition of software driving value in payments has enabled it to drive ~50% annual gross profit growth over the past three years. Evercore ISI initiates Teradata as outperform Evercore said the software company has a competitive advantage. "While Teradata was initially slow to transition its data warehousing technology to the cloud, its platform has now evolved to a point where the company is more competitive in hybrid cloud environments." Citi reiterates Sunrun as buy Citi said it's bullish heading into Sunrun earnings later this quarter. "We believe FCF generation is more of a 2024 story as the benefits of component cost reduction will not meaningfully show up in financials this year. We believe RUN has higher inventory than its peers and will take longer to utilize the higher priced inventory." UBS initiates Duolingo as buy UBS said the ed tech company is "best-in-class." "We initiate coverage of Duolingo with a Buy rating and $195 Price Target. DUOL has a best-in-class brand within the language learning space which is still early in its online penetration ramp." Read more about this call here. Bank of America reiterates Meta as buy Bank of America said it's standing by its buy rating on Meta shares after the company's Meta Connect event on Wednesday. "Major announcements from the event included: 1) More details on the mixed Reality Quest 3 headset, 2) Reveal of Next-Gen Ray Ban Smart Glasses, 3) Launch of Meta AI." Needham reiterates Amazon as buy Needham said investors should buy any dip in shares of the e-commerce giant. "Buy AMZN on weakness owing to: a) no near-term impact on economics; b) Generative AI upside; c) ad growth; d) a forced split of AMZN would be positive for shares." Wolfe reiterates Boeing as outperform Wolfe said it's standing by its outperform rating on the stock. " Boeing stock is down nearly 20% from August highs on a confluence of factors including light 737 deliveries continued BDS woes and mgmt's conservative comments at recent conferences on 2024 FCF expectations." Bernstein initiates Thermo Fisher as outperform Bernstein said it sees margin expansion for the health-care company. "We believe Thermo's strength in the short- and long-term will drive revenue higher than consensus; greater sales force leverage from cross-sell drives higher operating margin." DA Davidson upgrades Tractor Supply to buy from neutral DA said in its upgrade of the farming retailer that shares are attractive. "We believe TSCO has an 'outstanding business opportunity', an 'enduring moat', 'exceptional financials', a 'shareholder oriented management', and a 'compelling risk/reward.'" JPMorgan upgrades Huntington Ingalls Industries to overweight from neutral JPMorgan said it sees a compelling entry point for the defense company. "HII is down 10% the past three months on little news, and while it has been a tough market for Defense stocks, we see this as an attractive entry point, with top line visibility, potential for margin self-help, and a pick up cash flow and cash return coming next year." Read more about this call here. DA Davidson names Microsoft a top pick DA added the tech giant to its top picks list. "We are adding Microsoft to D.A. Davidson's Best-of-Breed Bison list, established for businesses simple to understand, possess attractive economic characteristics and a strong moat, led by shareholder-oriented managers, and demonstrate exceptional financial performance." Evercore ISI reiterates Apple as outperform Evercore said that Apple has "significant iPhone pricing power." "We maintain our positive stance on AAPL post our survey of ~4,000 individuals regarding their iPhone purchasing intentions. In aggregate, iPhone unit demand remains solid, ASP's are shifting higher given SKU configurations. Wearables remains stable. Services seeing stability but modestly lower AppleCare attach is notable (weak macro?). JPMorgan upgrades DigitalBridge to overweight from neutral JPMorgan said the transformation is almost complete for the digital infrastructure company. "We are upgrading DigitalBridge to Overweight with a $25 price target. The company is largely through its transformation of the business to a focus on Digital Investment Management and simplifying operating results." Read more about this call here . Deutsche Bank initiates General Electric as buy Deutsche said in its initiation of the stock that the "cultural transformation continues." "GE is a beat and raise story with a catalyst rich outlook, deep moats, and a strong management team." Deutsche Bank adds a catalyst call buy on Emerson Electric Deutsche said the multinational company is undervalued and has significant momentum. " EMR' s operational execution improved significantly Q/Q last earnings season, and we expect continued strength in incremental margins to drive a beat vs. consensus." Goldman Sachs reiterates Micron as buy Goldman said it's standing by its buy rating on shares Micron after its earnings report on Wednesday. "Despite what now appears to be a slower than previously expected recovery in gross margins and EPS, our constructive thesis on the stock predicated on improving demand and supply discipline remains unchanged and, as such, we would view any pullback in the stock as an opportunity to add to positions." Bernstein reiterates Wendy's as outperform Bernstein said shares of the fast food company are extremely attractive. "While some are waiting for imminent catalysts, we believe Wendy's has already planted the seeds for acceleration, and with valuation close to its 5-year low, we struggle to see a better entry point to participate in Wendy's future growth."