Here are Friday’s greatest calls on Wall Street: Loop reiterates Apple as purchase Loop stated it sees manufacturing delays for some variations of the iPhone 14 later this 12 months. “As we have been signaling for a few months, the iPhone 14 Pro Max device is running slightly behind schedule and could result in a staggered/delayed launch. AAPL and the contract manufacturers are still pushing for a September launch for all four devices.” Goldman Sachs downgrades Roblox to promote from impartial Goldman stated it sees “tough comps & normalization of margins.” “We have increasing concerns around the post-pandemic environment and expect a continuation of slowing growth, tough comps & normalization of margins in the near term and as such, we downgrade RBLX to Sell (from prior Neutral) reflecting a more negative risk/reward skew from current levels.” Goldman Sachs downgrades eBay to promote from impartial Goldman downgraded the web e-commerce firm and stated it sees income development danger. “With the global consumer environment under pressure and eCommerce growth slowing in a post-pandemic world, we see eBay’ s forward GMV (gross margin value) and revenue growth at risk esp. given its overexposure to international markets and as recently launched growth initiatives not having scaled yet and require incremental investments.” Goldman Sachs downgrades Netflix to promote from impartial Goldman stated in its downgrade of the streaming large that it is now a “show me story.” “We downgrade NFLX to Sell as we have concerns around the impact of a consumer recession as well as heightened levels of competition on demand trends (both in the form of gross adds and churn), margin expansion & levels of content spend and view NFLX as a show me story with a light catalyst path in the next 6-12 months.” Read extra about this name right here . MoffettNathanson downgrades Electronic Arts to impartial from purchase Moffett downgraded the online game maker primarily on valuation. “We’re downgrading EA from Buy to Neutral, but raising our PT to $147 (from $141). We continue to employ a multiyear DCF analysis as our primary valuation methodology, which includes a 7.25% assumed cost of capital and 1.5% terminal growth rate.” Atlantic Equities upgrades CME to obese from impartial Atlantic Equities stated it sees a lovely entry level for shares of the worldwide markets and change firm. “We are upgrading CME to Overweight and retaining our target price of $235, offering a total return of more than 20%. This follows a pullback in the stock’s valuation despite having the strongest fundamental backdrop of the U.S. exchanges.” Read extra about this name right here . Goldman Sachs downgrades Kontoor Brands to impartial from purchase Goldman stated in its downgrade of the maker of Lee and Wrangler denims that it sees “value channel headwinds intensity.” “Our original thesis on KTB was predicated on strengthening brand momentum, a healthy wholesale channel bolstered by accelerating DTC growth, and improving margins as a result of pricing and product shifts.” Barclays reiterates Microsoft as obese Barclays stated that Microsoft’s success is way greater than its cloud computing service, Azure, and that the corporate is firing on all cylinders. “We believe investors are too focused on Azure for the MSFT investment case. We argue that there are a lot more exciting stories that help to grow the $200bn+ revenue base in the double digits.” Bank of America downgrades DocuSign to impartial from purchase Bank of America stated in its downgrade of the electronics signature firm that it sees decelerating billings. “We are downgrading DocuSign shares to Neutral and lowering our PO to $72 from $120 to reflect decelerating billings from near-term challenges.” Reas extra about this name right here . JPMorgan upgrades Spirit to obese from impartial JPMorgan named the low cost airline a tactical commerce concept and says it sees JetBlue because the possible successful bid for Spirit. “We also believe a merger outcome between Spirit and JetBlue is a growing probability and may overtake the likelihood of a Frontier deal. Most importantly, Spirit shares are trading in line with the proposed Frontier offer, and — owing to the break fee — slightly below what Spirit shareholders would receive if the DOJ were to block the transaction today, holding current share prices constant.” Read extra about this name right here . Cowen names Grocery Outlet Holdings a prime SMIDCap concept Cowen stated it sees additional share good points for the discounted grocery retailer firm. “We believe GO’ s off-price grocery model and value leadership will drive comps growth and market-share gains, as baskets are on average 40% below conventionals & 20% below discounters.” Evercore ISI downgrades DocuSign to in line from outperform Evercore downgraded the digital signature firm after its earnings report, citing powerful comps and billing decelerations. “Not huge fans of the post EPS downgrade and while DOCU shares are probably close to a bottom at current levels if one is taking a longer-term view, we believe the combination of tough compares and continued execution challenges/turnover in the field means any meaningful rebound in billings growth is still further out than we hoped.” Barclays reiterates Tesla as underweight Barclays raised its value goal on Tesla to $370 per share from $325, however stated it sees disappointing manufacturing and margins forward. “As Tesla CEO Elon Musk grapples with outside business pursuits, the company’s 2Q production and margins are set to disappoint as Shanghai shackles output. Indeed, we now expect sales and production to contract Q/Q.” JPMorgan reiterates Amazon as obese JPMorgan stated in a notice on Friday that Amazon stays the “fastest-growing” U.S. retailer. ” AMZN likely maintains L-T pricing power. Amazon’s share of U.S. e-commerce increased to 40% and it remains the fastest-growing scaled U.S. retailer.” Wedbush upgrading SciPlay to outperform from impartial Wedbush upgraded the cell and on line casino gaming firm on “valuation and growth drivers.” “We are upgrading shares of SciPlay to Outperform from Neutral to reflect our revised 12-month price target of $17.00 per share, up from $14.50 previously, which implies upside of over 20% from current levels even after an over 20% increase in the share price over the last month or so.” Morgan Stanley downgrades iHeartMedia to underweight from equal weight Morgan Stanley stated in its downgrade of the media firm that its radio enterprise is “structurally challenged.” “First, the combined risk of a possible recession and iHeart’s levered business model create outsized risk to the equity. Second, we see its core high margin broadcast radio business as structurally challenged by shifting consumer-listening habits.”
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