Here are Thursday’s biggest calls on Wall Street: Evercore ISI adds Livent to its best ideas list Evercore said it’s bullish on the lithium company. “This month our Energy & Materials team is adding Livent Corp (LTHM), whose announced merger with Allkem creates scale and relevancy in global lithium chemicals that makes them an increasingly viable play on the battery materials supply chain.” HBSC upgrades Emerson Electric to buy from hold HSBC called the stock a “completely transformed automation pure-play.” “Recent trading remains strong: Emerson reported its Q2’FY23 numbers on 3 May. Underlying orders increased 7%, driven by strong demand across process/hybrid industries and moderating discrete orders.” Bernstein reiterates Target as outperform Bernstein said investors should buy the weakness in Target shares. “And the stock is down 15% for the month, and that includes a ~4-pt rebound yesterday. To all this we say: buy the stock here.” Mizuho reiterates Coinbase as underperform Mizuho said it sees worsening retail trading trends for Coinbase. “Analyzing April volume data points to worsening share losses in retail crypto trading for Coinbase relative to Robinhood.” Bank of America initiates S & P Global and Moody’s as buy Bank of America called S & P and Moody’s resilient. ” S & P provides credit ratings, benchmarks, analytics, and workflow solutions to the capital, commodity, and auto markets. … Own Moody’s for credit cycle, also get Analytics’ resiliency We initiate with a Buy. Moody’s has high exposure to the likely credit issuance revival via its ratings business (49% of sales), but also a very resilient Analytics business.” Citi adds a negative catalyst watch on American Express Citi said its travel checks show slowing travel spend which negatively impacts American Express . “Our proprietary Citi Credit Card Data spending trends have slowed and as we drill down into Travel & Entertainment (T & E) categories, growth has slowed more sharply from recent strong double-digit growth rates.” Guggenheim reiterates McDonald’s as buy Guggenheim said McDonald’s shares are compelling. “The stock has mostly traded sideways over the past two months, but we think it is difficult to ignore the magnitude of earnings upside to consensus and the reasonable current valuation of shares.” RBC reiterates Alphabet as outperform RBC raised its price target on the stock to $145 per share from $132 and says it sees “fundamental upside.” ” GOOGL still at the head of the…
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