Here are Thursday's biggest analyst calls: Tesla, Apple, Boeing, IBM, Meta, Microsoft, Rivian, Amazon & more

Published Thu, Jan 25 20248:19 AM EST

Here are Thursday's biggest calls on Wall Street: Needham reiterates Rivian as buy Needham lowered its price target on the EV maker to $22 per share from $25 and says it's standing by the stock. "We disagree with bearish investors who see RIVN becoming demand constrained in real time, but we lower our '24 delivery estimates to better reflect potential initial '24 vehicle production guidance, pushing our gross margin estimates lower." Bank of America reiterates IBM as buy Bank of America raised its price target on the stock to $200 per share from $170 and says it's sticking with the stock after its earnings report on Wednesday. " IBM guided F24 better than our/Street expectations." Morgan Stanley reiterates Tesla as overweight Morgan Stanley said Tesla's earnings call on Wednesday was light on "details" but the firm is standing by its overweight rating. " Tesla bulls have almost no details from the outlook or the analyst call that express visibility in demand or conviction in the company's profit outlook." Goldman Sachs reiterates ServiceNow as buy Goldman said it's standing by shares of ServiceNow after the company's earnings report on Wednesday. "Strong Print Reflects Best-In-Class Growth and FCF; Solid Subscription Revenue Outlook Leaves Room for Upside." Goldman Sachs reiterates Apple as buy Goldman said it's standing by the tech giant heading into earnings on February 1. "We expect AAPL to deliver relatively in-line results for F1Q24." JPMorgan upgrades Tal Education to overweight from neutral JPMorgan said it's getting bullish on shares of the China education company. "We thus raise our revenue forecasts for TAL for the next three years by an average of 30%+ to Street highs, and expect its earnings power to surprise the market for years - our revised OP estimates for FY25-27 are more than double the consensus level - thanks to operating leverage and fast-normalizing margins." BTIG initiates Bloom Energy as buy BTIG said in its initiation of the green energy company that it's bullish on Bloom. "Hydrogen Equipment Manufacturer Targeting Green and Gray Customers. Initiating with a Buy Rating and $21 PT." Jefferies reiterates Amazon as buy Jefferies raised its price target on the stock to $190 per share from $175 and says it's bullish heading into earnings on Feb. 1. "Inflecting AWS growth and continued margin improvement should support the next leg of outperformance for AMZN. " Bank of America reiterates Meta as buy Bank of America raised its price target on Meta to $425 per share from $405. "We think stock can overcome revenue deceleration in '24." Wells Fargo downgrades DuPont to equal weight from overweight Wells downgraded the stock due to weakness in China. "We downgrade DD to EW from OW as we cut our 2024 outlook, with 1H24E sales expected to fall ~11% and EBITDA -12% Y/Y due to customer destocking and weakness in China." Truist upgrades Vericel to buy from neutral Truist said it sees "profit inflection" for the advanced cell therapy company. "We upgrade to Buy (from Hold) and raise our PT to $51 (from $39) as we don't see valuation reflecting VCEL's growth acceleration pot'l and coming profit inflection." Piper Sandler reiterates Microsoft as overweight Piper warned investors in a note on Thursday not to "sleep" on Microsoft Cloud. "Don't sleep on Microsoft Cloud. AI has attracted the headlines during 2023, but we see a confluence of factors that could shift investor optimism back to the flagship Microsoft Cloud segments in 2024." Deutsche Bank upgrades Avis to to buy from hold Deutsche said it sees an attractive risk/reward for the car rental company. "Meanwhile, we see CAR as a steady operator that has a pretty clear path to delivering earnings that are at least in line with current Street expectations." JPMorgan downgrades Hertz to neutral from overweight JPM said it sees few positive catalysts ahead for the car rental company. "...While the stock arguably trades inexpensively on normalized out-year earnings we see few near-term positive catalysts on the horizon after reducing our estimates such that we now expect Hertz in 2024 to neither grow earnings nor to generate positive free cash flow, suggesting little potential also to capitalize upon a lower stock price via share repurchases." Bank of America downgrades Boeing to neutral from buy Bank of America said in its downgrade of the stock that it sees too much regulatory scrutiny. "In the wake of the Alaska Airlines Flight 1282 incident, where a 737 MAX-9 door plug was ejected from the fuselage mid-flight Boeing has again found itself in the spotlight of materially increased regulatory scrutiny." Bank of America upgrades Heico to buy from neutral Bank of America said investors should buy the dip in the aerospace and electronics aftermarket company. " Heico (ticker: HEI) shares have pulled back ~10% since recent peak levels in Dec. 2023 (vs. the S & P500 down ~7%.)"