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☆ Tuesday analysts calls: Microsoft cut on worries over Open AI; Wells Fargo, Humana upgraded
▼ + stars: | 2024-10-08 | by ( Pia Singh | In | ) www.cnbc.com time to read: +6 min

A Wolfe Research analyst raised his view on troubled bank stock Wells Fargo, reasoning that regulatory and interest rate risks both are priced into the stock. However, analysts at Oppenheimer lowered their views on high-flying tech stock Microsoft on fears that OpenAI losses could hamper performance. Delta's stock price has gained nearly 23% this year, but is in the red for the quarter. Chubak sees downside to consensus 2026 earnings across the board for the group — but that the risk is better captured in the current valuation of major banks including Wells Fargo. WFC YTD line Wells Fargo stock performance Chubak upgraded Wells Fargo to outperform from peer perform and kept his $65 price target on the stock, which implies 13.7% potential upside.

Persons: Wolfe, Bernstein, Oppenheimer, Bernstein Bernstein, David Vernon, Vernon, — Pia Singh, Timothy Horan, Horan, Lance Wilkes, Wilkes, Steven Chubak, Wells Fargo, Chubak Organizations: CNBC, Humana, Microsoft, Southwest Airlines, STARS, Wolfe Research, WFC Locations: Wells, Delta, Vernon, Atlanta, Wells Fargo

Elsewhere, TD Cowen raised its price target on Costco to $975. 7:04 a.m.: TD Cowen raises Costco price target TD Cowen is even more bullish on Costco after hosting the company's leadership for a post-earnings meeting. Analyst Brian Bedell reiterated his buy rating and lifted his price target by $3 to $27, implying about 13% upside. With that, analyst Stephen Scouten upgraded Amerant to overweight from neutral and raised his price target by 50 cents to $25.60. — Pia Singh 5:50 a.m.: TD Cowen upgrades Accenture Investors should buy shares of Accenture as the company's recovery gains steam, according to TD Cowen.

Persons: Morgan Stanley, TD Cowen, Cowen, Oliver Chen, Costco's, Chen, Gary Millerchip, — Pia Singh, Brian Bedell, Bedell, Robinhood, Wells, Donald Fandetti, Fandetti, Piper Sandler, Amerant, Stephen Scouten, Scouten, JPMorgan Chase, Betsy Graseck, Graseck, NIM, Bryan Bergin, Bergin, Fred Imbert Organizations: CNBC, JPMorgan Chase, Accenture, Costco, Deutsche Bank, American, Amerant, JPMorgan, Services Locations: Florida, Friday's

Meanwhile, Morgan Stanley downgraded PepsiCo to equal weight. 7 a.m.: FedEx could slide more than 30% as 'structural challenges' are here to stay, Morgan Stanley says Morgan Stanley analyst Ravi Shanker downgraded FedEx to underweight from equal weight after the shipping company's earnings came in below expectations. — Pia Singh 6:33 a.m.: E-commerce stock MercadoLibre has more than 18% upside, according to Morgan Stanley Morgan Stanley is bullish on Argentine e-commerce firm MercadoLibre . — Pia Singh 5:49 a.m.: Evercore ISI hikes Amazon price target Evercore ISI is betting big on Amazon's streaming service. — Pia Singh 5:49 a.m.: Morgan Stanley downgrades PepsiCo Don't expect PepsiCo shares to make much headway going forward, according to Morgan Stanley.

Persons: Morgan Stanley, Ravi Shanker, Shanker, — Pia Singh, Morgan Stanley Morgan Stanley, Andrew Ruben, Ruben, Morgan Stanley downgrades ASML, ASML, Lee Simpson, Simpson, Mark Mahaney, Mahaney, Andy Jassy, Dara Mohsenian, OSG, Mohsenian, Fred Imbert Organizations: CNBC, ISI, PepsiCo, FedEx, Semiconductor, Intel, NBA, Amazon Prime, Amazon, Pepsi Locations: FedEx's, Argentine, Argentina, Netherlands, China, Thursday's

☆ Tuesday's analyst calls: Taiwan Semiconductor a buying opportunity, CrowdStrike upgraded
▼ + stars: | 2024-08-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

He increased his price target by $25 to $575, which suggests shares can jump about 20.9% over the next year. Rollins upgraded the stock to neutral from sell and upped his price target from $1.25 to $3.15 per share, which implies roughly 21.6% potential upside. Analyst Rick Wise initiated coverage of GE Healthcare with a buy rating and $100 price target, which suggests 22.7% upside. Analyst Rob Owens upgraded the global cybersecurity company to overweight from neutral and lowered his price target by $20 to $290, which implies 30.6% upside. Its price target of 1,200 Taiwanese dollars implies upside of 36.4%.

Persons: Morgan Stanley, Piper Sandler, Rob Sanderson, Sanderson, — Pia Singh, Michael Rollins, Rollins, Lumen, Rick Wise, Wise, CrowdStrike, Rob Owens, Owens, pare, Price, Charlie Chan, Chan, Fred Imbert Organizations: CNBC, Taiwan Semiconductor, Meta, Citi, Lumen Technologies, GE Healthcare, Delta Air Lines, Microsoft Locations: U.S

Analyst Didier Scemama reiterated his buy rating and kept his $1,406 12-month price target on the stock, which implies shares can jump 50.8%. She noted that Palo Alto, which is up 12.5% year to date, continued to soar even as growth in cybersecurity-tied AI winners slowed. "However, consensus expects a sharp reacceleration in dollar growth from FY26 onwards, which we view as unlikely," the analyst added. "We view Palo Alto more defensive as it is skewed to a stickier customer base and a wider moat." — Pia Singh 5:45 a.m.: Baird upgrades elf Beauty There's a big buying opportunity in elf shares, according to Baird.

Persons: Baird, Morgan Stanley, Didier Scemama, Scemama, — Pia Singh, Dan Dolev, Dolev, Nina Marques, Marques, Palo, Morgan, Alex Straton, Straton, Mark Altschwager, Altschwager, — Fred Imbert Organizations: CNBC, Bank of America, of America, CMD, Mizuho, Mizuho Securities, Walmart, Palo Alto Networks, Palo, Palo Alto, Trump Locations: U.S, Palo Alto, Wednesday's, cybersecurity, China

Bank of America, meanwhile, raised its price target on Costco after the company announced an increase to its membership fees. Analyst James Heaney assumed coverage of Roblox with a hold rating — down from a buy — and $42 price target, which implies a 5.9% potential increase. Rakers' new target price suggests the stock — which is up 24.8% this year — could gain another 11.4%. Analyst Robert Ohmes upped his price target by $88 to $962 on Costco, suggesting shares could gain 8.8%. Its price target of $385 implies upside of 26.2% from Wednesday's close.

Persons: Jefferies, Roblox, downgrades, James Heaney, Heaney, RBLX, — Pia Singh, Wells, Aaron Rakers, Rakers, Wamsi Mohan, Mohan, There's, Robert Ohmes, Ohmes, Fred Imbert Organizations: CNBC, Spotify Technology, Bank of America, Costco, Silo AI, Silo, AMD, Apple, of America, Apple's, Conference, U.S, Apple Vision, America, Jefferies, Spotify Locations: Wells Fargo, Europe, North America, Nod.ai, U.S, China, India, Canada, Wednesday's

Goldman Sachs raised its price target on Tesla, but it still sees a a decline for the electric vehicle maker. Analyst Chris Pierce upgraded his rating to buy from hold and assigned a $160 price target on Carvana, implying shares could jump 27.3%. His $77 price target on Walmart suggests the stock could jump nearly 10.2% over the next 12 months. Analyst Peter Keith assumed coverage of the retailer with a neutral rating and $156 price target, suggesting shares can add 5.7% over the next year. LLY YTD mountain LLY year to date — Pia Singh 5:51 a.m.: Goldman raises Tesla price target, but still sees stock slide Don't expect Tesla's recent momentum to last, according to Goldman Sachs The bank raised its price target on the electric vehicle maker to $248 from $175.

Persons: Tesla, Goldman Sachs, Eli Lilly, Needham, Chris Pierce, Pierce, — Pia Singh, Jefferies, Corey Tarlowe, Tarlowe, Piper Sandler, Peter Keith, Keith, Carter Gould, Gould, Goldman, Mark Delaney, Fred Imbert Organizations: CNBC, Barclays, Jefferies, Walmart, Fox Robotics, EV, Tesla Locations: Tuesday's

The bank also raised its price target to $160 from $115, suggesting 18% upside from Wednesday's close. — Michelle Fox 7:59 a.m.: KeyBanc raises Netflix price target Netflix's growth isn't going to slow down any time soon, according to KeyBanc Capital Markets. — Pia Singh 7:23 a.m.: Bank America raises price target on Boeing Bank of America is weighing the challenges and opportunities Boeing has to make a turnaround. She kept her $38 price target, which implies shares could drop just slightly from its latest close. — Pia Singh 5:45 a.m.: Jefferies names Microsoft a top pick Microsoft is "going for AI gold," according to Jefferies.

Persons: Jefferies, Christine Cho, — Jesse Pound, Clark, Anna Lizzul, Kimberly, — Michelle Fox, Justin Patterson, Patterson, — Pia Singh, Ronald Epstein, Epstein, Oppenheimer, Ulta, Rupesh Parikh, Parikh, Morgan Stanley downgrades Corning, Corning, Morgan Stanley, Meta Marshall, Marshall, Tom O'Malley, O'Malley, AVGO, JPMorgan's Harlan Sur, Timothy Arcuri, Brent Thill, Fred Imbert Organizations: CNBC, Microsoft, Barclays downgrades NextEra Energy Partners, NextEra Energy Partners, Barclays, Bank of America, Clark Bank of America, KeyBanc, Markets, Netflix, Bank America, Boeing Bank of America, Boeing, Broadcom, VMware, Google, UBS, Jefferies Locations: Kimberly, F2H25

Analyst Stephen Grambling reiterated his overweight rating on shares, which he thinks should move higher based on potential earnings upside. Analyst Christopher Horvers upgraded the big-box retailer to overweight and hiked his price target by $15 to $81, which suggests 25.4% potential upside. Analyst Tom O'Malley's price target is now $145 per share, which implies 19.9% potential upside from Friday's close. Ramsey also attributed his new price target to the firm's latest data center modeling which estimates a software-based revenue breakout for Nvidia. He raised his price target to $150, which implies 40.8% upside from Friday's close.

Persons: Morgan Stanley, Stephen Grambling, Grambling, — Pia Singh, Christopher Horvers, Horvers, Tom, O'Malley, TD Cowen, Matthew Ramsey, Ramsey, Rajat Gupta, Gupta, CVNA, Joseph Moore, Moore, Fred Imbert Organizations: CNBC, Monday, JPMorgan, North America Gaming, Illinois Senate, Walmart, Nvidia, Barclays Barclays, Sovereign, Broadcom, AMD Locations: Illinois, North, IL

Oppenheimer raised its price target on Walmart to $75, reiterating its outperform rating on shares. Goodall's $70 price target implies 32.3% potential upside for the stock, which has advanced 28.2% this year already. His price target of $165, up from $145, implies upside of nearly 22% over the next 12 months. COF YTD mountain — Fred Imbert 5:42 a.m.: Oppenheimer hikes price target on Walmart, supports premium valuation for shares Walmart shares are still positioned for steady outperformance, according to Oppenheimer. Analyst Rupesh Parikh reiterated his outperform rating and lifted his price target by $6 to $75, which suggests shares could climb 11.8%.

Persons: Oppenheimer, Jefferies, Goldman, Didier Scemama, Scemama, — Pia Singh, Goldman Sachs, Toshiya Hari, Jensen Huang, Hari, James Goodall, Goodall, John Hecht, Hecht, Fred Imbert, Rupesh Parikh, Parikh Organizations: CNBC, Walmart, buildout Bank of America, Nvidia, United Airlines, Atlantic, Delta, United, Jefferies, Discover Financial Locations: North America, Taiwan, COF

A gas stock and an e-commerce giant were among the stocks being talked about by analysts on Wednesday. The introduction of 2nm, a new generation of chips that are faster and consume less power than previous chips, should lead demand higher for the global semicap industry, analyst Simon Coles wrote in a note. The analyst said Amazon will continue to see growth ahead, however, as it views the e-commerce giant as a strong AI beneficiary. He added that Amazon should see continued OI expansion as Amazon Web Services accelerates and has a multi-billion-dollar AI revenue run-rate. — Pia Singh 5:46 a.m.: JPMorgan upgrades Sunoco Sunoco's recent acquisition will drive a rebound in the stock, according to JPMorgan.

Persons: Bernstein, Simon Coles, TSMC, Coles, — Pia Singh, Adrian Yanoshik, Yanoshik, Stellantis, Fadi, ODFL, Fadi Chamoun, Chamoun, Mark Shmulik, Shmulik, Sunoco, Jeremy Tonet, Tonet, Fred Imbert Organizations: CNBC, Wednesday, JPMorgan, Barclays, Taiwan Semiconductor, BMO Capital Markets, Old Dominion, Dominion Freight, Amazon, Amazon Web Services, NuStar Energy, SUN, NS Locations: U.S, Netherlands

Jefferies upgraded MercadoLibre to buy and raised its price target on the stock. Asiya Merchant kept her buy rating and and hiked up her price target by $45 to $170, which suggests shares could jump 16.9% from Monday's close. Nodding to the stock's strong recent performance, analyst David Koning downgraded Toast shares to neutral and maintained his $28 price target. Analyst Kashy Harrison downgraded the stock to neutral from overweight and lowered his price target to $4.50 from $9, implying 8.4% upside. He also raised his price target to $2,100 from $1,400, implying upside of about 20% over the next 12 months.

Persons: Jefferies, Piper Sandler, Asiya Merchant, Merchant, Dell, — Pia Singh, Baird, David Koning, Koning, Morgan Stanley, Chan, TSMC, Piper Sandler downgrades, Kashy Harrison, Harrison, Alex Wright, Wright, Fred Imbert Organizations: CNBC, Sunnova Energy, Citi, Dell, Citi Research, TAM, Taiwan Semiconductor, Nvidia, Energy, NOVA, Jefferies Locations: America, Monday's, Kong, securitizations

A fast food stock and Nvidia were among the stocks being talked about by analysts on Wall Street. RBC assumed coverage of Jack in the Box with an outperform rating and a price target that implies more than 40% upside. Ransom's $10 price target implies about 37.6% potential upside for the stock, which has gained 8.5% this year. Mailk said he likes the buy-rated stock on "secular AI growth opportunities" and maintained his $1,030 price target. New Street Research maintained its buy rating and $1,100 price target ahead of the quarterly print.

Persons: Jack, Piper Sandler, GoodRx, Raymond James Raymond James, John Ransom, — Pia Singh, Tesla, Dell, Amit Daryanani, Daryanani, Wolfe, Chris Caso, Caso, INTC, Coupang, Jennifer Han, Han, that's, Nvidia's, Piper Sandler's Harsh Kumar, Kumar, Blackwell, Atif Malik, Mailk, Pierre Ferragu, Logan Reich, JACK YTD, Fred Imbert Organizations: CNBC, Nvidia, Wall, RBC, Citi, New, Research, Kroger, pharma, Dell, DELL, Wolfe Research, Intel, UBS, Blackwell, RBC Capital Markets Locations: Korea

Microsoft and a major chemical stock were among Friday's biggest analyst calls. He also lowered his price target by $1 to $25, which implies shares can fall roughly 19% from Thursday's close. Sandler increased his price target by $27 to $200, which implies 26.6% potential upside. JPMorgan: Analyst Mark Murphy added $30 to his price target, which is now at $470. He also hiked his price target to $61 from $55, which implies upside of 8% going forward.

Persons: Morgan Stanley, Mobileye, Adam Jonas, Jonas, — Pia Singh, Stifel, Stanley Elliot, Elliott, Alphabet's, Oppenheimer, Jason Helfstein, Ross Sandler, Sandler, Brent Thill, Google's, Justin Post, Post, Wall, Raimo Lenschow, Wells, Michael Turrin, MSFT, Turrin, Mark Murphy, Murphy, Keith Weiss, Weiss, Jeffrey Zekauskas, Zekauskas, Dow, Fred Imbert Organizations: CNBC, Microsoft, JPMorgan, Dow Inc, TAM, Caterpillar, Google, Barclays, –, Jefferies, Bank of America, DOW Locations: Israel, Thursday's, reaccelerate, Wells Fargo

A solar energy company and a video game maker were highlighted by analysts Tuesday. Meanwhile, JPMorgan upgraded Roblox to overweight from neutral, and its new price target implies upside of more than 35%. — Pia Singh 5:43 a.m.: KeyBanc downgrades beaten-down solar stock Sunnova Energy Heading into first-quarter earnings, KeyBanc Capital Markets is cautious on residential solar names, particularly Sunnova Energy . Analyst Sophie Karp downgraded the Texas-based residential and commercial solar energy company to sector weight from overweight and removed her price target on the stock. It also raised its price target to $48 from $41, implying a 37% rally over the next 12 months.

Persons: KeyBanc, Oppenheimer, Dwight, Rupesh Parikh, Parikh, — Pia Singh, DataDog, Andrew Nowinski, Datadog, Nowinski, Yun Kim, Kim, MDB, KeyBanc downgrades, Sophie Karp, Karp, —, Cory Carpenter, Carpenter, Fred Imbert Organizations: CNBC, JPMorgan, Loop Capital, Sunnova Energy, NOVA, SolarEdge Technologies, Enphase Energy Locations: Sunnova, Parikh, Wells Fargo Wells, Texas, U.S

Monday's analyst calls included a price target cut for one of the biggest tech companies in the world and Goldman Sachs getting bullish on an e-commerce giant ahead of earnings. Morgan Stanley cut its price target on Apple to $210 from $220, citing the potential for disappointing fiscal third-quarter guidance. 6:50 a.m.: Morgan Stanley remains bullish on Nvidia even after chipmaker's sell-off The recent slump in artificial intelligence-related stocks hasn't steered Morgan Stanley away from Nvidia . Sheridan kept his buy rating and $220 price target on Amazon, which is expected to post its earnings results on April 30. Analyst Erik Woodring reiterated his overweight rating on the tech giant but cut his price target to $210 from $220.

Persons: Goldman Sachs, Morgan Stanley, Goldman, Joseph Moore, Moore, — Pia Singh, shouldn't, Wamsi Mohan, Mohan, Benjamin Swinburne, Swinburne, Eric Sheridan, Sheridan, Erik Woodring, Woodring, Fred Imbert Organizations: CNBC, Apple, Nvidia, NVIDIA, Bank of America, Spotify, Amazon, Services Locations: North America

Barclays cut its price target on Tesla. Turrin's $480 price target suggests Microsoft shares, which are up more than 10% this year, could add another 15.8% over the next 12 months. Nardone kept his $150 price target, which implies Crocs shares could gain 24.3% over the next 12 months. Tesla shares, which have lost more than 36% this year, traded 1.3% higher in premarket trading. Redburn Atlantic also cut its price target to $130 from $150, reiterating its sell rating on the stock.

Persons: Raymond James, Wells, Michael Turrin, Turrin, — Pia Singh, Crocs, Christopher Nardone, Terence Reilly, Nardone, Stanley, Ben Chaiken, Chaiken, Jefferies, Corey Tarlowe, Tarlowe, Tesla's, Dan Levy, Levy, Tesla, Pavel Molchanov, Vernova, Molchanov, Fred Imbert Organizations: CNBC, Wednesday's, Barclays, GE, Microsoft, Bank of America Bank of America, Royal, Mizuho Securities Mizuho, Royal Beach Club, Urban, Jefferies, Urban Outfitters, Abercrombie, General Electric, GE Vernova Locations: Wells Fargo, Heydude, Royal Caribbean, Tuesday's

Morgan Stanley raised its price target on Netflix to $700 from $600. 7:13 a.m.: JPMorgan cuts Boeing price target, but says demand should push strong long-term growth Investors shouldn't give up on Boeing as a long-term investment, according to JPMorgan. Analyst Seth Seifman lowered his price target by $20 to $210, implying 21.1% potential upside for shares of the aerospace company. He raised his target price by $14 to $62, which suggests 4.2% potential upside for DocuSign over the next year. The analyst kept his neutral rating on the stock but cut his price target by $16 to $180.

Persons: Morgan Stanley, Seth Seifman, Seifman, — Pia Singh, Evan Seigerman, Seigerman, Karl Keirstead, DocuSign, Keirstead, Itay Michaeli, Michaeli, Tesla, Elon Musk, Benjamin Swinburne, Swinburne, Wolfe, Shreyas Patil, Patil, Fred Imbert Organizations: CNBC, Netflix, Wolfe Research, JPMorgan, Boeing, Novo Nordisk, BMO Capital Markets BMO Capital, pharma, UBS, Adobe, Citi, Citi Research, Tesla, Netflix Netflix, Mobileye Locations: China, Novo, U.S, Netflix's

Raymond James raised its price target on Nvidia to $1,100, noting revenue momentum will stay strong. On a more sour note, Bank of America lowered its price target on Boeing to $190, citing risks around the company's ongoing safety issues. He raised his price target by $30 to $160, which suggests more than 25% potential upside for shares. Analyst Bryan Bergin initiated coverage of Mastercard with a buy rating and $545 price target, which indicates 16.2% potential upside. — Pia Singh 5:50 a.m.: Bank of America cuts Boeing price target Boeing's latest troubles made Bank of America even more skeptical on the stock's prospects.

Persons: Raymond James, Berenberg, Andres Castanos, Mollor, — Pia Singh, Bernstein, Johnson, Callum Elliott, Kenvue, Elliott, Lorraine Hutchinson, Hutchinson, Nike's, TD Cowen, Bryan Bergin, Bergin, Blackwell, Srini Pajjuri, Ronald Epstein, Dave Calhoun, Epstein, Fred Imbert Organizations: CNBC, Nvidia, Bank of America, Boeing, Johnson, Nike, Mastercard, Visa, of America, New York Times Locations: Albemarle, underperform, China, Europe, Asia

Goldman Sachs, meanwhile trimmed its price target on Boeing, citing several risks amid the company's ongoing safety issues. The analyst initiated coverage of the stock with an overweight rating and year-end price target of $1,150, which implies shares could jump 18.2%. Analyst Kannan Venkateshwar upgraded shares of the media giant to overweight from equal weight and also raised his price target by $40. His new $135 price target implies 16.5% potential upside over the next year. — Pia Singh 5:37 a.m.: Goldman Sachs trims Boeing price target Goldman Sachs lowered its price target on Boeing to $257 from $268 amid the airplane maker's ongoing issues safety issues.

Persons: Goldman Sachs, JPMorgan's Samik Chatterjee, inferencing, Chatterjee, — Pia Singh, Kannan Venkateshwar, Venkateshwar, Disney's, Noah Poponak, Poponak, Fred Imbert Organizations: CNBC, Disney, Barclays, Boeing, JPMorgan, Computer, Enterprises, Alaska Airlines Locations: 3Q24, 4Q24

(This is CNBC Pro's live coverage of Tuesday's analyst calls and Wall Street chatter. An online car seller and a crypto trading platform were in focus on Tuesday's analyst chatter. Carvana shares are up more than 47% this year, soaring after the company topped fourth-quarter profit estimates. Until ETP flows taper and/or reverse, we suspect the stock's current momentum may persist," analyst Patrick O'Shaughnessy wrote. COIN YTD mountain COIN year to date Coinbase shares received a boost from the ETF excitement, rising more than 40% year to date, as bitcoin climbs to record highs .

Persons: Coinbase, Raymond James ., Jason Bazinet, Bazinet, — Pia Singh, Jefferies, Carvana, John Colantuoni, Carvana hasn't, Raymond James, Patrick O'Shaughnessy, ETP, O'Shaughnessy, — Fred Imbert Organizations: CNBC, underperform, Jefferies, Citi, New York Times, Citi Research, Bazinet , New York Times Locations: Bazinet ,, underperform, Monday's

Oppenheimer increased its price target on Netflix, calling for upside of nearly 20%. Bernstein, meanwhile, reiterated an outperform rating on Taiwan Semiconductor, noting that margins will fare better than the Street expects going forward. Analyst Stephen Grambling downgraded Hyatt to equal weight from overweight and lowered his price target by $7 to $149. — Pia Singh 5:44 a.m.: Bernstein sticking by Taiwan Semiconductor Taiwan Semiconductor shares are off to a strong start for the year, and Bernstein expects them to continue doing well. The firm raised its price target on them to $150 from $125, implying upside of just 2%.

Persons: Oppenheimer, Bernstein, Morgan Stanley downgrades Hyatt, Morgan Stanley, Hyatt's, Stephen Grambling, Grambling, Hyatt, FactSet, — Pia Singh, Oppenheimer Oppenheimer, Jason Helfstein, Helfstein, Wall, Mark Li, Li, TSMC, 4Q23, — Fred Imbert Organizations: CNBC, Netflix, Taiwan Semiconductor, Hyatt, Taiwan Semiconductor Taiwan Semiconductor, GM Locations: 2H24, U.S, Taiwan

(This is CNBC Pro's live coverage of Tuesday's analyst calls and Wall Street chatter. Meanwhile, Goldman Sachs noted Tesla and Rivian need to be careful when cutting prices. He increased his price target by $20 to $220, however, suggesting shares could shed 7.4% from Monday's close. Baird's $1,050 price target suggests shares can still climb more than 23%. His Tesla target of $220 implies upside of 17%, while his $13 forecast on Rivian points to a 19% gain from here.

Persons: Baird, Goldman Sachs, Tesla, Williams, Anthony Chukumba, Chukumba, — Pia Singh, Ranjan Sharma, Sharma, Morgan Stanley downgrades Sunnova, Morgan Stanley, Andrew Percoco, Percoco, Tristan Gerra, Gerra, Goldman, Mark Delaney, Delaney, Fred Imbert Organizations: CNBC, Nvidia, JPMorgan, Free Fire, NOVA, Amazon, Meta, Google Locations: Williams, Sonoma, Monday's, Tuesday's premarket

On a more positive note, Guggenheim upgraded GSK to buy thanks to strength across multiple product pipelines. Elsewhere, RBC upgraded Lyft to outperform, calling for a major rally ahead. Analyst Brad Erickson upgraded Lyft shares to outperform from sector perform, and raised his price target by $6 to $23, implying roughly 40.7% potential increase. — Pia Singh 6:10 a.m.: DoorDash upgraded by RBC on new partnerships potential, higher order growth RBC Capital Markets upgraded DoorDash to outperform from sector perform. Analyst Seamus Fernandez upgraded shares to buy from neutral and assigned a £20.31 price target, representing 21% upside to GSK's latest close.

Persons: Guggenheim, Wells Fargo, Timur Braziler, Braziler, — Pia Singh, Lyft, Brad Erickson, Erickson, Seamus Fernandez, Fernandez, Citi downgrades Ferrari, Ferrari, Harald Hendrikse, Fred Imbert Organizations: CNBC, Citi, Ferrari, GSK, RBC, Popular, RBC Capital Markets RBC Capital Markets, DASH, Capital Markets, Guggenheim Securities, drugmaker GSK, Guggenheim Locations: Wells Fargo, Puerto Rico, U.S, Wells, Shingrix, Arexvy, Milan

Berenberg increased its price target on Eli Lilly on the back of expected strong sales of its weight loss drug, Zepbound. The firm kept its $21 price target, saying shares are "ready to inflect" with hardware cost deflation and investment tax credit boosting growth. Danely's $820 price target on the buy-rated blockbuster chipmaker suggests 3.6% potential upside for shares since Monday's close. — Pia Singh 5:38 a.m.: Berenberg hikes Eli Lilly price target Eli Lilly has been on a tear this year, and Berenberg expects even more gains from here. Analyst Kerry Holford reiterated his buy rating on the stock and raised his price target to $850 from $680.

Persons: Berenberg, Eli Lilly, John Hodulik, Hodulik, — Pia Singh, Wells, Steven Cahall, Cahall, ROKU, Fred Imbert, BofA Evercore, James West, Christopher Danely, Danely, Goldman Sachs, Edward Jones, James Shanahan, Goldman, Marcus, Apiro Dounls, Sunoco, Kerry Holford, Holford, Zepbound Organizations: CNBC, pharma, Nvidia, Citi, Sunoco, NuStar Energy, Netflix, UBS, Vizio, CTV, ISI, BofA, BofA Evercore ISI, Bank of America, Micron Technology, NuStar, SUN Locations: Wells, Sunrun, Monday's

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