Here are the biggest calls on Wall Street on Tuesday: Morgan Stanley initiates LatAm Airlines at overweight Morgan Stanley says shares of the Latin American airline are undervalued. ” LTM emerged as a stronger company from bankruptcy. Profitability is above pre-pandemic levels driven not only by favorable industry dynamics, but also by its leaner cost structure.” Morgan Stanley reiterates Tesla as overweight Morgan Stanley says it’s sticking with Tesla ahead of the company’s robotaxi day. “As Tesla’s CEO makes further progress on building out its inference swarm (cars, robots) and AI/compute infrastructure (including xAI), we believe investors will see a clearer picture of the overlapping ‘surface area’ between Tesla and other parts of the Muskonomy, particularly the evolving relationship between xAI and Tesla.” Bank of America upgrades Alcoa to buy from neutral The firm says the aluminum company is uniquely positioned. “AA should also benefit from stronger alumina prices, the precursor to aluminum. As the largest third-party producer, AA uniquely benefits.” Oppenheimer initiates Shift4Payment at outperform Oppenheimer says the payment technology company is well situated for stock appreciation. “We initiate coverage of Shift4 Payments (FOUR) with an Outperform rating and $109 price target, offering 27% upside potential.” Barclays reiterates Apple as underweight The bank says its survey checks show iPhone 16 demand is weak for Apple. “Cutting iPhone 16 Builds Likely Indicative of Weak Demand.” Citi upgrades Anheuser-Busch InBev to buy from neutral Citi said it’s bullish ahead of its next earnings report. “We upgrade ABInBev to Buy (from Neutral). Although weakness in the U.S. and a slowing Mexico mean our Q3 volumes are below consensus, on-going tight cost control in the U.S. means the group is on track to deliver FY24E organic EBITDA growth above its 4-8% guidance range.” Goldman Sachs upgrades Ford to buy from neutral Goldman says it likes the auto giant’s “opportunity in software and services.” “We’re upgrading Ford to Buy from Neutral, in part driven by its opportunity in software and services, including to commercial customers. Raymond James upgrades Atlassian to outperform from market perform Raymond James sees “opportunity amidst chaos” for the software company. ” Atlassian has been going through a cloud transition, meaning growth in its cloud segment is a key metric for investors.” Citi downgrades Hewlett Packard to neutral from buy Citi said it…
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