Top Calls on Wall Street: Palantir, Apple, Tesla, Amazon, Nvidia, CoreWeave, and More

Tiger Newspress
Nov 04

Here are Tuesday’s biggest calls on Wall Street:

Bank of America reiterates Palantir as buy

Bank of America says Palantir is best positioned for AI following earnings on Monday.

“We reiterate our Buy rating and raise our PO to $255 (from $215) which reflects our confidence in PTLR’s enduring position and better than expected growth on a 15x EV/EBITDA on 2035E.”

Bank of America reiterates Apple as buy

The firm said it’s sticking with Apple after checks show App Store revenue grew.

“For the month of October, App store rev increased +8.8% y/y globally, outpacing app store download growth of +0.4% y/y. Reiterate Buy on strong capital returns, eventually winner at AI at the edge & optionality from new products/markets. PO stays at $325 on 32x C27E EPS of $10.11.”

Barclays reiterates Tesla as equal weight

Barclays called the Tesla shareholder vote later this week “critical.”

“Tesla’s upcoming Annual Shareholder Meeting will be a critical event, with two key votes on Elon’s compensation meant to solidify the potential path to his desired ~25% ownership.”

Mizuho reiterates Amazon as buy

The firm raised its price target on the stock and says it likes Amazon’s deal with OpenAI.

“We reiterate our Outperform rating and increase our PT to $315 (from $300 prev) reflecting higher multiples on increased confidence post the 3Q print / commentary / OpenAI deal.”

Jefferies reiterates Broadcom and Nvidia as buy

Jefferies said Broadcom has “estimate upside” and raised its price target on the stock to $480 per share from $415. The firm also raised its price target on Nvidia to $240 per share from $220.

“AVGO moves back to our Top Pick and designate Franchise Pick based on outsized upside relative to estimates.”

Citi reiterates CoreWeave as buy

Citi raised its price target on the stock to $192 per share from $164.

“In the near term, we see CRWV as one of the larger AI beneficiaries across our coverage.”

Bank of America downgrades DraftKings to neutral from buy

Bank of America said it sees a slew of negative catalysts for the gaming and gambling company.

“We are downgrading shares of DraftKings to Neutral. Why now? 1) sports outcomes in Q3 and Q4 again raise concerns around volatility and long-term earnings power, 2) DKNG has underperformed in iGaming, 3) state tax headwinds are unlikely to go away, and 4) the prediction markets present a challenging narrative near-term.”

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