Here are Thursday’s biggest calls on Wall Street: Morgan Stanley upgrades Zai Lab to overweight from equal weight Morgan Stanley said it sees upside for the China biotech company. “With 40% of its pipeline having first-in-class potential, Zai Lab should benefit as in-licensing names re-rate under favorable tailwinds.” JPMorgan names Wynn and Las Vegas Sands top picks JPMorgan named several casino stocks as top picks on Thursday and said it likes Wynn and Las Vegas Sands. “We see this as a mid-cap way to play the Macau recovery while capitalizing on strong domestic trends in Las Vegas.” Deutsche Bank adds a catalyst call buy on RPM Deutsche said it’s bullish on the paint company ahead of earnings in January. “We are initiating a Catalyst Call Buy on RPM as we believe RPM shares will outperform following its upcoming FQ2 release on January 4th with i) FQ2 EBIT meeting if not beating consensus and ii) FY24 EBIT guidance reaffirmed if not raised to the upper-half of the original guidance.” Goldman Sachs names Delta and United top 2024 ideas Goldman said it likes Delta and United as its top airline ideas in 2024. “In this environment, we favor stocks with exposure to markets with improving demand characteristics per the framework above in addition to relatively less cost headwinds into 2024.” Bank of America reiterates Microsoft as buy Bank of America raised its price target on Microsoft to $430 per share from $415 and said the stock’s valuation is “not demanding.” “We see potential for reacceleration from mid-teens growth as we move through CY24. With the goal for operating expense growth to lag total revenue growth, this translates to mid-/high-teens FCF growth in an upside case.” UBS downgrades Marathon Oil to neutral from buy UBS said in its downgrade of the oil company that it sees the pace of de-leveraging slowing. “Last, at Strip pricing, we see MRO’s de-leveraging pace slowing and adding financial risk vs. peers.” Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it’s standing by Tesla heading into 2024. “We see continued evidence that Tesla is emerging as an industrial ‘standard bearer’ for one of the greatest industrial changes we’ve witnessed in over a century – the electric transport and renewable energy economy.” Stifel downgrades Deckers to hold from buy Stifel said it sees limited upside for Deckers shares. “While estimates have room for upward revisions, the generous implied multiples give credit for this and we see upside to…
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