On Tuesday, several significant calls were made on Wall Street. Loop initiated coverage on Penguin Solutions with a “Buy” rating, noting its strong position in artificial intelligence, setting a price target of $30. Piper Sandler upgraded Coca-Cola and PepsiCo to “Overweight,” favoring Coca-Cola’s sustainable growth prospects. Truist also rated Citi, Wells Fargo, and Bank of America as “Buy,” highlighting their potential for improved efficiency. Oppenheimer upgraded Cheesecake Factory to “Outperform,” anticipating strong performance in 2025.
Mizuho and RBC upgraded Vornado and Carvana, respectively, while HSBC upgraded Bank of America, citing an attractive entry point. Redburn boosted Disney to “Buy,” appreciating its streaming profit potential. Bernstein picked Walmart as a top pick, despite high valuation concerns. Needham reiterated Roku as a “Buy,” seeing growth in connected TV advertising.
Several upgrades were made for Lululemon and Shake Shack, reflecting anticipated recoveries. UBS named Dell their top pick, anticipating strong growth in the AI server market. BTIG initiated Hims & Hers as a buy, and multiple other upgrades occurred across banks and technology firms. Bank of America downgraded Tesla, and Goldman Sachs reiterated its “Buy” rating on Nvidia following recent announcements at CES.
