Here are Friday’s biggest calls on Wall Street: Bank of America Reaffirms Meta While Buying Bank of America says it’s optimistic about Meta’s addition of Broadcom’s CEO to its board of directors. “On February 14, Meta announced that it had added Broadcom CEO Hock Tan to its board of directors.” Bank of America Reiterates Buy of Nvidia Bank of America said it will stay with the stock ahead of earnings next week, but that a pullback is possible. “We reiterate Buy/Best Pick ahead of NVDA earnings on Feb. 21, but won’t be surprised to see a notable but brief pullback after the stock’s recent parabolic run.” Goldman Sachs upgrades Informatica to buy from neutral Goldman said it is turning bullish on the software company’s shares. “While Informatica performed well in LTM [last 12 months] at least partially attributed to its consistent execution against Cloud ARR [annual recurring revenue] Despite broader weakness in the IT spending environment over the past 18 months and strong operational discipline, we see scope for further reassessment in CY24 to better align with similar revenue and FCF growth companies over the next 2-3 years.” TD Cowen Upgrades GCM Grosvenor to Outperform Market TD said in its GCM update that the alternative investment company is too attractive to ignore.”Update Thesis – Focuses on favorable inflection across a number of key fundamentals as well as a compelling risk-adjusted valuation, even after stratification into particularly conservative assumptions.” KBW upgrades Coinbase to underperform market performance KBW upgraded Coinbase following its earnings report on Thursday. “Solid revenue saw the quarter see a retail commitment that ultimately was much stronger than expected late in the year.” BMO names Trade Desk a top pick BMO said the ad tech company’s earnings report should ‘silence the bears’ . “This is a quarter/outlook to silence the bears. TTD is best positioned against two digital advertising industry megatrends in 2024: 1) the deprecation of third-party advertising cookies in Google Chrome and 2) the acquisition of a surge in advertising dollars tied to the U.S. presidential election.” Baird Upgrades UPS to Outperform from Neutral Baird said in his UPS upgrade that the risk/reward tradeoff is too attractive to ignore. “Consistent with this view and following the most recent pullback, we are upgrading UPS to Outperform and Like Risk/Reward.” JPMorgan Starts Mister Car Wash as Equal Weight JPMorgan Started Car Wash Company with Neutral Value Primarily on Valuation. “We are initiating coverage of Mister Car Wash (MCW) with a Neutral rating and a price target of $9.50 through December 2024.” Wells Fargo starts Super Micro with equal weight rating Wells said the tech company is a beneficiary of artificial intelligence, but the stock is fairly valued right now. “We expect the breadth of Supermicro’s building block portfolio and engineering culture to continue to position the company as a first-to-market leader in accelerated computing architectures for the foreseeable future.” Daiwa downgrades Arm to neutral from outperform Daiwa downgraded the semis company primarily based on valuation. “Better-than-expected Q3 sent shares skyrocketing >60%, >130% since launch. With Softbank/others owning >90%, share price could remain elevated. Very positive on positioning of Arm, but look for a better reentry point.” Loop starts Nvidia while buying Loop starts Nvidia with a high Street price target of $1200 per share. “Buying Start and $1200 PT (63% Appreciation) as we believe not only is there substantial upside to the Street’s estimates in YY2024/YY2025 and YY2025/YY2026, but we are also at the start of a 3-5 year GPU compute and generation AI core build on Hyperscale.” TD Cowen upgrades PVH to outperform market perform TD said consensus estimates are too low for the maker of brands like Tommy Hilfiger. “The consensus is underestimating PVH’s ability to elevate CK and Tommy businesses, faster inventory turnover, higher margins and an emerging capital allocation narrative, which can significantly improve capital” UBS downgrades Newell Brands to neutral from buy UBS said it had decreased visibility for the maker of consumer and commercial products. “We are downgrading Newell Brands from Buy to Neutral with our NTM [next twelve months] the price target moves to $8.50, implying approximately 6% upside from current levels.” Raymond James Downgrades Carvana to Underperform Compared to Market Performance Raymond James downgraded the stock primarily on valuation. “We are downgrading CVNA to Underperform from a Market Perform rating. To be clear, our downgrade is not a call to the upcoming 4Q23 results due Thursday, Feb. 22, but to the stock’s recent performance.” Raymond James upgrades Wayfair to a strong buy from market performance Raymond James said he sees a “configuration renewed” for Wayfair stock. “Our more constructive stance stems from two main points: 1) after a challenging period for the U.S. furniture industry following COVID, we believe demand trends are near bottom, with adjustments . U.S. furniture sales will likely approach 2015/2016 levels in 2023; and 2) management’s recent cost-cutting initiatives will allow Wayfair to significantly increase EBITDA as demand returns.” RBC launches Biohaven as top performer RBC says biotech company is ‘cutting edge.'” We like how BHVN identifies promising technologies and targets and then leverages its management experience to optimize the development path based on competitive data to become a fast follower in high-value therapeutic areas.” Oppenheimer downgrades Nike to gain outperformance. Oppenheimer said he is concerned that Nike’s next few quarters will look “slow.” That said, as we closely review the near-term outlook for NKE, we are increasingly concerned that Nike’s revenue trends will look “slow” in the coming quarters. company will likely remain sluggish and below algo, given a combination of underlying and choppy consumer demand, pauses in product innovation, and modest competitive inroads into select categories. Morgan Stanley reiterates that Tesla is overweight Morgan Stanley said it stands by Tesla but that there is “nowhere to hide.” “In the land of pure electric games, there was no place to hide.” Guggenheim Downgrades SunPower to Sell from Neutral Guggenheim said he remains concerned about the solar company’s financials. “We are downgrading our investment recommendation from Neutral to Sell with a PT of $1 following yesterday’s announcement by SPWR of a rescue financing package.” Bank of America Downgrades Dropbox to Underperform from Buy Bank of America said the “bullish thesis has come true” for the data storage company. “DBX Double Downgrade to Underperform vs. Buy.” Bank of America upgrades Cellebrite to buy from neutral Bank of America said it sees a stabilization in business trends for the digital intelligence company. “We upgrade Cellebrite from Neutral to Buy and raise our PO from $9 to $12. The company sees improving commercial momentum, driven by healthy market demand, the portfolio platform and accelerating growth of new ventures products.” Jefferies boosts América Móvil to buy from hold Jefferies said the Latin American telecommunications company is becoming a “cash cow.” “AMX | (Re)join the Charge of the Cash Cows; Upgrade to Buy.” Barclays Reiterates Netflix as Equal Weight Barclays said it maintains its equal weight rating on the stock and that growth may “slow materially going forward.” “Netflix’s core growth, excluding the impact of paid sharing, may have been quite weak last year.” JPMorgan Downgrades Bloom Energy from Overweight to Neutral JPMorgan downgraded Bloom Energy following its earnings report. “BE reported lower-than-expected 4Q results. FY24 operating margin guidance is in line with our expectations, although the revenue outlook was well below consensus and closer to our expectations heard from recent bearish conversations on the buyside.” Morgan Stanley Reiterates Eli Lilly as Overweight Morgan Stanley raised its price target on the stock to $950 a share from $805 and says it could be the first $1 trillion company. “Reaffirm OW rating on LLY as we see upside to 2025+ estimates (and upgrade our Bull scenario, which depends on LLY’s oral GLP-1) and demonstrate why the stock continues to merit a P/E multiple premium on external values. annual estimates compared to historical pharmaceutical stocks.” Oppenheimer Downgrades Roku to Outperform Oppenheimer downgraded the stock after earnings Thursday and says the stock is set to be limited. “We are downgrading ROKU to Perform from Outperform and removing our $100 price target as we see shares will remain capped until the company sustainably delivers high-teens platform revenue growth.”