Here are Friday’s biggest calls on Wall Street: JPMorgan upgrades Chubb to overweight from neutral JPMorgan said the insurance company is defensive. “Our long-term fundamental outlook for CB has been positive, but we have been reluctant to recommend the stock due to concerns about slowing price hikes in the commercial lines market and the stock’s valuation.” CFRA upgrade Whirlpool to buy from hold CFRA said in its upgrade of the stock that shares are attractive. “Despite weak demand in appliances, we believe WHR shares are attractive as the U.S. market leader.” KeyBanc reiterates Apple as overweight KeyBanc said iPhone demand remains “resilient amid macro concerns.” “We continue to believe AAPL is one of the best opportunities within our coverage given AAPL’s resilient product/subscriber base, ability to grow key markets such as China and India, solid margin expansion potential and AAPL’s shareholder friendly capital allocation.” Wells Fargo upgrades Warner Brothers Discovery to overweight from equal weight Wells said in its upgrade of the stock that it sees an attractive risk/reward. “We threw everything and the kitchen sink at a Downside Case scenario for WBD, and it still delevers to 3x by ’25E. We now have conviction in FCF to limit downside, while the stock has asymmetric upside.” Read more about this call here. Wedush downgrades First Republic to neutral from outperform Wedbush said that a takeover could wipe out the equity value from the bank. “We’re downgrading shares of First Republic to NEUTRAL from OUTPERFORM as we believe a distressed M & A sale could result in minimal, if any, residual value to common equity holders owing to FRC’s significant negative tangible book value after taking into account fair value marks on its loans and securities.” Read more about this call here . Citi initiates Bumble as buy Citi said the dating app continues to take market share. “Bumble currently has one of the best growth rates within our Internet coverage, with expected modest EBITDA margin expansion as well.” Read more about this call here. Oppenheimer upgrades Synchrony to outperform from perform Oppenheimer said the consumer financial services company is a “safety play not for the faint hearted.” “We think banking sector liquidity fears brought forward some recession valuation downside, and we expect a snapback before ultimate lows.” Morgan Stanley upgrades Nvidia to overweight from equal weight Morgan Stanley said the AI “narrative is too strong to…
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