Here are the largest calls on Wall Street on Friday: Stifel downgrades Wingstop to carry from purchase Stifel mentioned it sees a extra balanced threat/reward outlook for the hen wing restaurant firm. “We are downgrading WING to Hold from Buy following the 20% appreciation in the stock following the 2Q earnings release (S & P 500 1.8%). We have a favorable view of the company’s near-term sales outlook and longer-term growth prospects, but with the stock now at our 12-month target price, we believe the near-term risk/reward has become more balanced.” Susquehanna downgrades Intel to impartial from constructive Susquehanna mentioned it sees too many unfavorable catalysts for the chipmaker. “For decades, Intel was able to cover up a litany of failed projects, poor acquisitions, and strategic foibles by pushing Moore’s Law and process leadership. Unless they regain this leadership (we think unlikely), or change strategic direction, we expect growth, profitability, and cash flow problems to persist at Intel.” Baird downgrades Intel to impartial from outperform Baird mentioned it sees no near-term PC restoration, which may damage Intel. “Shift in consumer patterns away from Covid-times at home entertainment devices, combined with weak first-half seasonality, suggests no PC recovery near-term, with resulting under-utilization rates challenging gross margin recovery.” Susquehanna downgrades Roku to impartial from constructive Susquehanna mentioned it sees too many macro headwinds for Roku . “However, macro headwinds such as rising inflation and supply chain disruptions are having a severe impact on the business – both on the advertising side and the engagement side through lower consumer discretionary spending.” Read extra about this name right here . JPMorgan downgrades Spirit to underweight from chubby JPMorgan mentioned it sees a robust likelihood {that a} deal between JetBlue and Spirit shall be accepted by regulators. “As a result, we are downgrading Spirit shares to Underweight with a $29 price target, predicated on a 70% closure probability and 30% probability of a retreat into the high teens based on its peer set. In short, given the extensive runway between here and a potential deal closure, we suggest investors shift their focus back to names with greater fundamental exposure, and the impact posed by the current US recession.” Wolfe downgrades Stanley Black & Decker to see carry out from outperform Wolfe mentioned there are too many unfavorable catalysts for S tanley Black & Decker. “The bull has already bolted over the horizon as we shut the gate with our downgrade to PP rating. The $5-6 guide is likely close to trough, but now see normal closer to $7 than $10-11. Potential catalysts in ’23, but negative news flow likely dominates through YE22.” Oppenheimer upgrades First Solar to outperform from impartial Oppenheimer mentioned First Solar is a key beneficiary of the newest model of a invoice shifting ahead in Congress. “Further, in the Inflation Reduction Act of 2022 moving forward with positive momentum, we believe the company is likely to begin monetizing as much as $0.11/W in domestic production credits with passage of the legislation.” Deutsche Bank provides a catalyst name purchase on SeaWorld Deutsche Bank added a catalyst name purchase concept on the inventory and mentioned it is bullish heading into earnings subsequent week. “We believe SEAS is on pace to beat what appear to be achievable top and bottom line results for 2Q and full year 2022. Orlando hotel data continues to show accelerating momentum in visitation to the market, with RevPAR improving from +5% vs. 2019 levels at the beginning of 2Q22 to nearly +30% by the end of the quarter. Baird upgrades Northrop Grumman to outperform from neutral Baird said it sees stronger growth for the defense contractor. “We are upgrading NOC to Outperform from Neutral reflecting the stronger progress anticipated within the 2H22 and re-acceleration of progress in 2023 from LSD (low single digits) in 2022 to MSD (mid single digits) in 2023.” Evercore ISI downgrades Roku to in line from outperform Evercore said it sees too many macro headwinds for the stock. ” Roku’ s Q2 EPS print was anticipated to be muted (therefore our tactical name), however we didn’t anticipate headwinds (comfortable scatter market, weakening shopper discretionary spend, inflationary stress, provide chain points, and ASC 606 accounting impression) to be so dramatic.” JPMorgan downgrades Comcast to neutral from overweight JPMorgan downgraded the stock due to stalling broadband growth. “We downgrade Comcast to Neutral (from Overweight) on decrease cable estimates (subs and financials) and set up a December 2023 worth goal of $45, which assumes exiting 2023 at 13.8x 2023E FCF and 11.9x 2023 EPS.” Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC. Deutsche Bank reiterates Amazon as buy Deutsche said that Amazon’s earnings report on Thursday was robust and called the stock a “port within the macro storm.” “After ready a number of years to purchase the final OI (working earnings) reduce, Amazon delivered 2Q OI that was 1.3% forward of consensus and a 3Q OI outlook that was inline with buyside bogeys, offering buyers confidence that the confluence of fast funding progress and incremental value headwinds is lastly beginning to abate.” Read more about this call here . Morgan Stanley reiterates Apple as overweight Morgan Stanley said the stock has “resilience.” “June Q outcomes have been higher than feared, as iPhone & Services upside offset Mac/iPad provide constraints & Wearables declines. We see mgmt’s Sept Q rev steering (for MSD% Y/Y) as rightfully conservative given the macro backdrop. Ests are largely unchanged and Apple stays our Top Pick w/ $180 PT.” Read more about this call here. Goldman Sachs reiterates Apple as neutral Goldman said it expects Apple shares to decline in reaction to company’s earnings and that all of the beat was “was on account of decrease provide chain impacts than the corporate had initially anticipated.” “We consider there are higher choices for buyers wishing to climate deteriorating macro elsewhere in our protection.” Read more about this call here.
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