Here are Friday’s biggest calls on Wall Street: Bank of America reiterates Netflix as buy Bank of America said it sees a “strong growth opportunity” ahead for Netflix’s password sharing service. “Our survey of 1,000+ Netflix users in the US/UK (in Appendix below) suggests that most households would pay for password sharing in some form and a large percentage were amenable to downgrading their service to an ad-supported tier.” Goldman Sachs initiates SQM as sell Goldman said the Chilean chemical company is exposed to ongoing lithium price weakness. “Our more cautious view is supported by a combination of 1) GS expectations of a multiyear lithium oversupply and price pressure; 2) uncertainties related to SQM’s concession renewal and/or new terms/costs in case of a renewal.” Read more about this call here. Cantor Fitzgerald initiates Intuitive Machines as buy Cantor said the space exploration company has a “first-mover” advantage. “We believe LUNR benefits from a disruptive business model with first-mover advantage, four different revenue streams that provide diversification and help to de-risk the company, and bipartisan support.” Credit Suisse upgrades TE Connectivity to outperform from neutral Credit Suisse said the consumer electronics company is an Inflation Reduction Act beneficiary. “Resilient auto production, rising EV mix, relatively low exposure to communications markets, margin tailwinds from restructuring, improving FX and commodity outlook, combined with the pull back in the stock since Q2-23 results lead us to upgrade TEL .” Evercore ISI adds Dell to the tactical outperform list Evercore said it’s bullish heading into earnings on June 1. ” Dell will report its Apr-qtr results on June 1st after market close and we expect the company to report generally in-line to modest upside vs. consensus estimates of $20.299B/86c driven by a conservative guide coupled with better performance on the core storage business.” JPMorgan upgrades Bloom Energy to overweight from neutral JPMorgan said the selloff in the the energy company is “overdone.” “We are upgrading BE to Overweight from Neutral. We believe the recent pullback, down 45% since mid-February, is overdone and that investors can take advantage of the volatility to add to positions in a stock that we believe will be a long-term beneficiary of the energy transition.” Read more about this call here. RBC initiates Planet Fitness as outperform RBC said it sees an attractive entry point for the gym stock….
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