Friday’s Biggest Analyst Calls: NVIDIA, Zoom, Expedia, Analog Devices, Cava, Roblox, Dick’s & More

Here are Friday’s biggest calls on Wall Street:

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Evercore ISI has upgraded Expedia's rating to outperform from in line, citing anticipated "revenue growth acceleration." The firm sees Expedia at a pivotal point with potential revenue growth and EBITDA margin expansion in 2024, not reflected in current estimates.

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Evercore ISI downgraded Airbnb from outperform to in line, citing a less compelling risk/reward outlook at the current price level.

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Roth MKM downgraded ChargePoint from buy to neutral, expressing concerns about weak demand for charging equipment and anticipating weak F3Q24 results.

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Wolfe upgraded Roblox to peer perform from underperform after the company's Investor Day, citing increased confidence in durable bookings growth and margin expansion.

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UBS upgraded Pacific Biosciences to buy from neutral, identifying an attractive buying opportunity due to growth potential and a perceived discount in valuation.

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Citi reiterated Microsoft as a buy, emphasizing its preference for Microsoft as a megacap name with a durable multi-year product cycle driving sustained top and bottom-line growth.

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Barclays downgraded GitLab to equal weight from overweight, citing caution due to a premium valuation and concerns about billings growth.

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JPMorgan upgraded Hubbell to overweight from neutral, characterizing it as a "visible GARP (Growth At a Reasonable Price) story" with a relatively visible growth profile.

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HSBC initiated Intuitive Surgical as a buy, highlighting the company's "wide moat" as the industry pioneer in surgical robot systems.

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Morgan Stanley reiterated Carvana as underweight, noting concerns about high levels of leverage and signs of deteriorating auto credit.

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Raymond James initiated Cava as market perform, considering the brand's key differentiators and growth opportunities but offset by a premium valuation.

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Citi upgraded Zoom to neutral from sell, citing a more balanced risk/reward outlook with the stock below the target price and near trough multiples.

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Redburn Atlantic Equities downgraded Air Products to sell from buy, expressing concerns about slowing growth and ambitious FY24 guidance.

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Piper Sandler reiterated Nvidia as overweight, expressing bullish sentiments ahead of earnings and highlighting the positive impact of buybacks.

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Morgan Stanley upgraded Analog Devices to overweight from equal weight, anticipating a bottom in the semiconductor company's downturn in 2Q24.

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Baird initiated Coherus BioSciences as outperform, citing a broad commercial pipeline positioned for accelerating growth.

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Truist initiated Dick's as buy, seeing a compelling buying opportunity for the largest sporting goods retailer in the US.

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Truist initiated Lululemon as buy, praising the retailer's strong brand loyalty and direct-to-consumer model.

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JPMorgan downgraded Zim Integrated to neutral from overweight, expecting underperformance compared to peers due to high costs related to ship charters.

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Piper Sandler initiated Kimberly-Clark as overweight, noting the company's entry into a "new stage" post-Covid with a focus on new offerings and efficiency improvements.

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