Thursday’s Biggest Analyst Calls: Amazon, Sunrun, Qualcomm, Eli Lilly, Solaredge, Estee Lauder & More

Here are the notable Wall Street recommendations for Thursday:

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Bank of America reaffirms its buy rating for Qualcomm after its earnings report on Wednesday. They believe Qualcomm will benefit in the long term from the growing adoption of 3G/4G/5G smartphones, tablets, and cellular-enabled machine-to-machine devices worldwide.

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HSBC initiates a buy rating for Amazon, citing an attractive entry point for investors. They emphasize Amazon's structural potential in cloud computing, surpassing even the customer loyalty in e-commerce.

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BMO downgrades Sunrun to market perform from outperform, indicating a lack of rebound potential for the company. They acknowledge Sunrun's cautious approach to residential solar growth but express concerns about its capacity growth outlook.

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Seaport upgrades KB Home and Toll Brothers to buy from neutral, along with several other homebuilders, due to a favorable environment for early cycle builders.

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JPMorgan initiates a neutral rating for WK Kellogg, expressing uncertainty about the company's EBITDA growth.

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Truist upgrades Amgen to buy from hold, mentioning the potential benefits from obesity drug developments and upcoming catalysts related to GLP-1/obesity data.

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Bank of America upgrades Oscar Health to buy from neutral, anticipating strong Q3 results and positive 2024 guidance in the insurer's upcoming earnings report.

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Truist downgrades SolarEdge to hold from buy, citing negative catalysts ahead and limited visibility into sell-through levels.

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UBS downgrades Eastman Chemical to neutral from buy, citing a more balanced risk/reward scenario.

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Citi reiterates its buy recommendation for Eli Lilly, foreseeing further upside potential driven by the company's incretin portfolio and capacity expansion.

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KBW upgrades Janus Henderson to market perform from underperform, citing the company's positive Q3 results and share buyback authorization.

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Seaport upgrades Rayonier to buy from neutral, emphasizing an attractive entry point for the timberland real estate investment trust.

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RBC downgrades Estee Lauder to sector perform from outperform, primarily due to a disappointing guidance cut despite better-than-expected F1Q'24 results.

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Citi upgrades Clorox to buy from neutral, believing that the worst impacts from the August cyberattack are mostly behind the company.

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Bernstein upgrades Chevron to outperform from market perform, expressing confidence in the company's acquisition of Hess and expecting improved geopolitical conditions.

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Pivotal upgrades Roku to hold from sell, noting Roku's strong position in the content ecosystem and a promising market presence.

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Guggenheim downgrades SolarEdge to neutral from buy, citing a more extended revenue downturn than expected and a delayed return to positive EBITDA.

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Stifel upgrades Generac to buy from hold, emphasizing the favorable risk/reward profile for the backup battery company.

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