Here are the biggest calls on Wall Street on Friday: Bank of America reiterates Broadcom as buy Bank of America says the that Broadcom remains a top pick at the firm following a series of investor meetings. “As expected, the meeting focused on AVGO’s growing AI opportunity, around $12bn or 24% of sales in FY24, with a longer-term TAM [total addressable market] of $100-$125bn, focused largely on growing internal workloads.” UBS reiterates Advanced Micro Devices as buy UBS called AMD’s AI event on Thursday a “mixed bag” but says it’s sticking with the stock. “AMD’s AI event was, in our view, a bit of a mixed bag that doesn’t likely sway the debate a whole lot in either direction.” Wells Fargo upgrades Affirm to overweight from equal weight Wells called the fintech payment company a “structural winner.” ” AFRM has clearly demonstrated its right to win incremental eComm checkout share for years to come. With GAAP profitability on the horizon, the valuation case has finally become palatable.” Redburn Atlantic Equities initiates Mercado Libre as buy Redburn says the LatAm e-commerce company is “leading the LatAm online retail revolution.” “Mercado Libre (MELI) sits in the intersection between the retail e-commerce evolution in Latin America (LatAm) and the disruption of traditional banking in the region.” Pivotal initiates Amazon as buy Pivotal says the e-commerce giant has a wide moat that’s getting bigger. ” Amazon has a deep moat around their core businesses driven by their unmatched scale and has what appears to be the largest organic revenue growth opportunity of any mega cap tech company…” Morgan Stanley downgrades Qorvo to equal weight from overweight Morgan Stanley says it sees a lack of near term catalysts for semis solutions company. “We upgraded Qorvo to OW in December 2023, expecting the modest growth in volume following the smartphone correction to improve utilization and drive gross margins up. The seemingly undemanding growth needed for EPS expansion appealed to us, especially at current valuation levels. However, we were wrong, at least in the short term.” Goldman Sachs reiterates Nvidia as buy Goldman raised its price target to $150 per share from $135 following a series of Nvidia management meetings. “We hosted a group investor meeting with Jensen Huang (Founder, President & CEO), Colette Kress (EVP, CFO) and Stewart Stecker (IR).” Morgan Stanley names Atlassian a top pick Morgan Stanley named Atlassian a top idea and says the software…
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