Here are the biggest calls on Wall Street on Tuesday: Bernstein starts Apple as Bernstein’s outperform said it was bullish on inventory with the launch of the tech giant. “While Apple has affirmed that it will continue to drive strong EPS growth from expanding its user base and growing buybacks, beware of the key risks, especially with AI and new devices. It is one of the key risks, one of the Google DOJ Remedies, could reach a resolution that favors Apple and potentially clear the path of AI partnership.” Wolf begins Allstate because insurance stocks are the beneficiaries of interest rate reductions and Wolf is outperforming. “For stocks to work, we need to see evidence that Allstate could become a growth company.” Raymond James starts CoreWeave because he’s better than Raymond James. “We will begin coverage of CoreWeave (CRWV) with outperform with a price target of $130.” UBS upgraded the NIO to buy from neutral UBS, saying “consumer trust in the company has been restored.” “We’re upgrading NIO to buy from Neutral, because the company’s latest product can attract more consumers after its US$1 billion stocks increase visibility into healthy operations.” Morgan Stanley said the company is sticking to Tesla, repeating that Tesla is overweight. “Tesla has a much smaller market capitalization for the MAG 7 (the average market capitalization for the Ex Tsla ‘Mag 6’ is 3.2tn), but it has perhaps the largest addressable market, especially in the emerging field of physical AI.” TD Cowen is downgraded Warner Bros. Discovery, which it holds from TD Cowen’s purchases. He said the risk/reward is not currently attractive. “Warner Bros Discovery stocks are well above the $14 price target that Paramount Skydance may be considering bidding for the company following last week’s unfounded report.” Read more. Goldman Sachs upgraded Hershey’s upgrade, and Sel Goldman Sachs upgraded Hershey double, saying the stock is very convincing. “After multiple guidance cuts over the past year, we have seen a persuasive risk/reward setup for stocks that are primarily expected and reflected, improving the expected progressive tail wind in two more hours.” Read more. Berenberg starts Ferrari as Berenberg said that luxury car manufacturers have “attractive long-term returns.” “Ferrari is a compelling long-term investment driven by its strong brand heritage, robust pricing capabilities and durable returns on capital. Though it only predicts modest amounts of growth, investors believe they can achieve attractive long-term returns through price/mix-driven revenue and free cash flow growth.” Citizens JMP upgraded CoreWeave to outperform the market, saying that companies are not fully aware of how companies generate their revenue and that their stocks are misunderstood. “We have upgraded CoreWeave’s stock from market performance to market outperform, establishing a price target of $180. This represents a multiple of ~6.0 and 22.0 times in estimated revenue and operating profit for 2027, respectively. Bernstein said Navidia repeats nvidia, and that it still looks at a greater reverse for nvidia. “The data center opportunities are very large, still early, and material advantages are still possible.” Compass Point said it is suitable for compass Point to start Klarna and gain share as Compass Point buys and starts fintech companies. “There are massive advantages to Klarna’s business model across all major operating expenses categories. Given the peer-adjusted operating margin, including stock-based compensation additions, there is a path to expanding the adjusted operating margin that could improve near BNPL (which we will pay later) peer levels will pass.” Upgrades for Rothschild & Co Redburn Novo Nordisk said that Biotech Company’s shares are unnecessarily attractive to buy from Neutral Rothschild & Co Redburn. “We have long argued that Novo’s rating cannot be justified on a reasonable basic basis. That’s no longer the case. Once an incredible growth is discounted, the stock expects moderate digit growth in obesity franchises.” Rothschild & Co Redburn has downgraded Live Nation, downgraded by Buy The Firm Downgraded Live Nation. “The ongoing major Justice Department (DOJ) lawsuit, using the best stock of all time, a soft macro sign, will remove the chip from the table. Raise the price target from $144 to $170 and downgrade to neutral.” Morgan Stanley repeats Microsoft as he said the Morgan Stanley purchases remain “attractive.” “Combined with teenage EPS growth, this supports a durable, strong teenager + total revenue profile at MSFT and framing attractive risk/rewards. Morgan Stanley repeated Amazon, Alphabet and Meta as overweight, saying all three stocks are in the best position towards 2026. Wells Fargo repeated Bank of America, Citi, Jpmorgan and Goldman Sachs as overweight, and Morgan Stanley as equal weight, raising price targets at all four banks. “Scale, deregulation, and the five major banks benefiting from the capital market that appear to be stronger than expected (C, JPM, GS, BAC, MS) EST. and increase PTS. Bernstein launched Dell with better than companies, saying that stocks are best for growth. “Dell (O) is seen positioned to drive significant EPS and FCF growth from AI servers…” Bank of America is upgrading Progis to buy from Neutral Bank of America. “PLD provides high single digits per year FFO (finances from operations) growth in a normalized environment.” Truist repeats Amazon as Buy Truist raised its stock price target from $250 to $270 per share. “At over two-thirds, Amazon’s NA (North America) revenue tracks ~$1 billion ahead of the $10.5 billion consensus per Truist Card data (until September 6th), meaning ~10%Y/Y growth, roughly lined up at the 11% level in the second quarter.”
