Wall Street’s Biggest Calls

Jefferies: Reiterates Apple as Buy

Jefferies expects a “quiet quarter” for Apple’s earnings report on Aug. 3. The company believes that iPhone and services are the driving forces behind Apple’s stock.

Wells Fargo: Reiterates Netflix as Overweight

Wells Fargo is bullish on Netflix heading into its earnings report. The company anticipates high investor expectations and remains overweight on the stock.

Jefferies: Reiterates Alphabet as Buy

Jefferies is bullish on Alphabet’s upcoming earnings. The company cites improved ad checks, easier gross revenue comps, and positive advertiser outlook as reasons for their optimism.

Truist: Reiterates McDonald’s as Buy

Truist sees strong same-store sales momentum for McDonald’s due to successful marketing campaigns and improved staffing. They have increased their estimates and price target for the stock.

Argus: Upgrades Carnival to Buy from Hold

Argus believes that increased marketing spend and fleet optimization will boost revenue for Carnival. The company sees a positive outlook for the cruise operator.

Piper Sandler: Resumes Dave & Buster’s as Outperform

Piper Sandler resumes coverage of Dave & Buster’s with an overweight rating. They believe the stock is attractive and set a price target of $56.

Bernstein: Upgrades UnitedHealth to Outperform from Market Perform

Bernstein sees UnitedHealth’s stock as attractive, with current valuation undervaluing its long-term growth prospects. They believe that concerns are already priced into the stock.

Goldman Sachs: Reiterates Warner Brothers Discovery as Top Pick

Goldman Sachs finds Warner Brothers Discovery’s stock attractive compared to its peers. They see key execution catalysts and management control as positive factors.

Truist: Downgrades Norwegian to Hold from Buy

Truist downgrades Norwegian’s stock mainly based on valuation concerns. They believe that cruise demand recovery is already priced in.

Citi: Opens Positive Catalyst Watch on Polaris

Citi is bullish on Polaris and has opened a 30-day catalyst watch. They anticipate a second-quarter beat based on positive retail trends and strong shipments.

Bank of America: Reiterates Nvidia as Buy

Bank of America raises its price target on Nvidia and maintains a buy rating. They believe that Nvidia can maintain its dominance in accelerators and offers attractive AI benefits.

Roth MKM: Names Uber a Top Second Half Pick

Roth MKM reiterates a buy rating on Uber, citing accelerating free cash flow generation and potential non-fundamental catalysts as reasons for their bullish stance.

Bank of America: Downgrades Lumentum to Neutral from Buy

Bank of America downgrades Lumentum and other stocks on sluggish telco capex, stretched valuation, and overstated AI benefits.

Morgan Stanley: Names American Express a Top Pick

Morgan Stanley is bullish on American Express ahead of its earnings release. They anticipate continued strong results driven by travel and entertainment spend.

Evercore ISI: Upgrades Pinterest to Outperform from Market Perform

Evercore ISI sees an ad spending recovery that will benefit Pinterest. They believe there is evidence of stabilizing digital ad spend and potential for second-half recovery.

Bank of America: Adds Marvell to the US 1 List

Bank of America adds Marvell to its top picks list, citing its strong position in the semiconductor industry. They replace Global Foundries on the list.

Deutsche Bank: Adds Catalyst Call Buy on Sherwin-Williams

Deutsche Bank is bullish on Sherwin-Williams ahead of its earnings report. They believe the company is well-positioned for a beat and raise this quarter.

JPMorgan: Reiterates Amazon as Overweight

JPMorgan considers Amazon as its top pick heading into earnings. They expect AWS reacceleration, retail margin expansion, and a year-over-year decline in capex to drive significant free cash flow.