Here are Wednesday’s biggest calls on Wall Street: Morgan Stanley reiterates Nvidia as overweight Morgan Stanley raised its price target on the stock to $1,000 per share from $795. “Even given strong YTD appreciation, we make the case for maintaining outsized exposure to AI – and that, increasingly, NVIDIA is the best way to get that exposure in our coverage. Reiterate OW, PT to $1000.” Bank of America reiterates Nvidia as buy Bank of America said it’s sticking with the stock as a top pick. “While there is always the potential for near-term summer consolidation in NVDA stock (such as we saw from Aug-Dec last year), we believe the fundamentals are solidly on track and periods of consolidation (trading sideways) tend to set the stock up for strong moves later. Maintain Buy, top pick, $1100 PO.” Piper Sandler reiterates Tesla as overweight Piper lowered its price target on Tesla to $205 per share from $225 but said it’s sticking with its overweight rating. “First, we’re cutting our estimates and DCF based price target, to reflect weaker-than-expected Q1 deliveries, as well as a challenging demand outlook in 2024/2025. Second, as highlighted on pages 2-26, we’re updating our proprietary forecast for full self-driving (FSD) software.” Jefferies names Zillow a top pick Jefferies said the online housing website company is a new top idea at the firm. “A One in a Zillion Opportunity; Moving Z to Our Top Pick.” Mizuho reiterates Block as buy Mizuho raised its price target on the payment company to $106 per share from $99. “Reinvigorated management focus on the Cash App and Square ecosystems could potentially drive meaningful upside to the 2024 guide. Management guided to 15%+ gross profit growth, but we see potential for > 20%. Bank of America reiterates Coinbase as underperform. Bank of America raised its price target on Coinbase to $110 per share from $92. “We maintain our Underperform rating given crypto market unpredictability, lack of revenue diversification, valuation and potential risks related to SEC litigation.” Barclays upgrades Visteon to overweight from equal weight Barclays said it sees “outgrowth narratives” for the auto manufacturer. “Our VC upgrade reflects our view that outgrowth narratives should accelerate in a flat production environment, supporting a mid-teen EBITDA CAGR through 2026.” Bank of America reiterates Alphabet as buy Bank of America said “AI innovation [was] on display” at the company’s Google Cloud Next event. ” Google kicked-off…
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