Here are Wednesday’s biggest calls on Wall Street: Stifel initiates Penumbra as buy Stifel said it’s bullish on shares of the medical device company. “We also believe PEN is well-positioned as one of few MedTech companies with positive free cash flow and high growth.” HSBC initiates KKR as buy HSBC said the private equity company is well positioned. “We initiate coverage on KKR & Co with a Buy rating and TP of USD148, as we think the market under-appreciates its significant earnings growth prospects.” Bernstein reiterates Apple as outperform Bernstein urged investor calm following concerns about weaker iPhone demand for Apple. “There has been some investor concern about weaker lead/wait times for new iPhones, and potentially lower associated order volumes.” Bank of America reiterates FedEx as buy Bank of America lowered its price target to $345 per share from $347 but said it’s bullish heading into earnings next week. ” FedEx is set to report F1Q25 results on Thursday (Sept 19).” Morgan Stanley reiterates Tesla as overweight Morgan Stanley said Tesla remains a top pick at the firm. “The growth of global data center emissions feeds the Tesla Energy bull case while highlighting existential compliance risk to auto OEMs [original equipment manufacturers].” BTIG upgrades GE Healthcare to buy from neutral BTIG said the setup is improving for shares of the medical solutions and systems company. “After a tough 1H24 where dynamics within China hampered results, we think the set-up for GEHC is improved.” UBS initiates Talen Energy as buy UBS said the energy company has “underappreciated upside potential.” “We initiate TLN with a Buy rating.” JPMorgan initiates Civitas Resources as overweight JPMorgan said the carbon energy producer has significant buyback potential. “We are initiating coverage of Civitas Resources (CIVI) with an Overweight rating and a Dec-25 price target of $67.” Wells Fargo reiterates Micron as overweight Wells lowered its price target on the stock to $175 per share from $190 but says it’s standing by the stock ahead of earnings next week. “We de-risk our forward MU ests, but view concerns we’re entering a 1H25 DRAM down-cycle as overdone.” Barclays upgrades VF Corp to overweight from equal weight Barclays said the owner or brands like Vans is too attractive to ignore. “We are upgrading shares of VFC to Overweight from Equal Weight as we believe the risk-reward is attractive at current levels.” Barclays upgrades Victoria’s Secret to equal…
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