Here are the most important calls on Wall Street on Friday: Goldman Sachs initiates TechnipFMC as purchase Goldman says the offshore firm has “idiosyncratic progress.” “We are initiating protection on FTI with a Buy score and $38 value goal, implying 23% upside from present ranges.” Goldman Sachs upgrades Patterson-UTI Energy to purchase from impartial The agency says it sees shareholder returns for the power firm. “For North America publicity, we’re upgrading PTEN to Buy given its complete of ~11% between shareholder returns and revisions vs North America common of ~7%.” KeyBanc upgrades Salesforce to chubby from sector weight and downgrades ServiceNow to sector weight from chubby The agency says it is seeing extra constructive information factors for Salesforce proper now. “The largest strikes in our rankings are the upgrading of Salesforce to Overweight and the downgrade of ServiceNow to Sector Weight.” DA Davidson initiates Titan International as purchase DA Davidson stated it sees a “uncommon” shopping for alternative for the trade chief in heavy-equipment tires and wheels. “We are initiating protection of Titan International (TWI) with a BUY score and $11 value goal.” Needham upgrades Upstart to purchase from maintain Needham says it likes the AI lending platform firm’s steadiness sheet following earnings. “Coming off the conferences, we imagine that UPST has achieved a correct steadiness in funding, largely as a result of elevated urge for food and partnerships with dedicated capital patrons.” Bank of America upgrades Danaher to purchase from impartial Bank of America says it sees a compelling entry level for the medical machine firm. “For Danaher , the latest pullback has created a extra enticing entry level, and we imagine shares might outperform in 2025 as bioprocess restoration takes middle stage.” Bank of America reiterates Broadcom as purchase The agency says it sees a “surging” AI alternative for the inventory following earnings on Thursday. “We fee Broadcom Buy on account of its high-quality diversified publicity to secular product cycles within the smartphone, cloud information middle, telecom and enterprise storage markets.” Goldman Sachs initiates E.l.f. Beauty as purchase Goldman says it has a constructive view of the sweetness trade. “We spotlight ELF on this context as a reputation to personal, whereas sustaining a extra balanced view on COTY as we work to higher perceive the trail to sustained topline progress enchancment.” Morgan Stanley reiterates Apple as chubby The agency says it is a prime decide in 2025. “Apple stays our Top Pick heading into 2025, and we stay bullish on: 1) Apple Intelligence accelerating iPhone alternative cycles beginning in FY26 2) Services progress sustaining at double digits; and three) gross margins increasing.” UBS upgrades Centene to purchase from impartial UBS says the health-care inventory is “too low-cost to disregard.” “We are upgrading CNC to a Buy as we see the inventory as overly discounted with the corporate now having provided a transparent and conservative view on the headwinds associated to the potential lack of enhanced subsidies associated to the general public trade after 2025. Further, administration additionally laid out different constructing blocks associated to Medicaid and Medicare that creates a path towards $8.00 in 2026 EPS.” KeyBanc upgrades Viper Energy to chubby from sector weight The agency says the setup is enticing for the power firm. “With OPEC+ oil volatility fading as a threat, a minimum of for 3 extra months, we improve VNOM shares to OW and set up a $62 PT. Despite robust YTD efficiency..” Goldman Sachs reiterates Uber as purchase The agency says the ride-sharing firm is a finest concept in 2025. “Our prime decide for 2025 amongst our Large Cap protection ($50bn+ market cap) is Uber. Uber is mired in a collection of short-term debates (pricing inflation and competitors impression on mobility progress) and medium/long run trade considerations.” Mizuho reiterates Salesforce, Microsoft and Adobe as outperform The agency says the Salesforce, Microsoft and Adobe are prime concepts in 2025. “We imagine an important traits benefiting software program distributors right this moment and sooner or later are Digital Transformation, Generative AI (together with Agentic AI), Data and Analytics, Contact Center Cloud Migrations, DevOps, Next-Gen Security, and EDA [electronic design automation].” BMO initiates O’Reilly Automotive as outperform BMO says the auto components firm is a “share taker.” “We are initiating protection of O’Reilly Automotive (ORLY-NSDQ) with an Outperform score and $1,400 goal value.” Wolfe upgrades PayPal to outperform from peer carry out Wolfe says it sees “upside potential.” “We are upgrading shares of PYPL to Outperform from Peer Perform with a YE25 PT of $107.” Morgan Stanley upgrades PTC Therapeutics to chubby from equal weight Morgan Stanley says the biotech firm is a favourite concept heading into 2025. “We imagine PTCT is well-positioned heading into the brand new yr following a number of latest constructive updates, in distinction to headwinds the corporate confronted on the finish of 2023.” Morgan Stanley upgrades TaskUS to chubby from equal weight Morgan Stanley says the outsourcing firm is an AI beneficiary. “Upgrading TASK to OW as we view the inventory as an attractively valued AI beneficiary with publicity to key clients Meta and Open AI, which we anticipate to drive accelerating progress in ’25 and ’26. Morgan Stanley upgrades Sempra Energy to chubby from equal weight Morgan Stanley says the utility firm is “finest positioned on the coronary heart of information middle demand and industrial load progress..” “We assume SRE’s EPS progress may shock to the upside with the robust Texas tailwinds. We are rising our ’26 EPS estimate to $5.55 (from $5.48) pushed by rising capex in Texas…” Mizuho initiates Canadian Solar as outperform Mizuho says the photo voltaic firm has great progress. “We provoke on Canadian Solar (CSIQ) with an Outperform score and $20 value goal. Canadian Solar is a perennial top-5 producer of photo voltaic cells and modules globally; its battery power storage enterprise is rising quicker than the trade, and its Recurrent enterprise develops photo voltaic and storage initiatives.” JPMorgan downgrades DR Horton to underweight from impartial and Toll Brothers to impartial from chubby JPMorgan downgraded a number of homebuilders and says it is taking a extra “cautious stance.” “We downgrade DHI to Underweight from Neutral, as we anticipate the inventory to underperform its friends over the subsequent 12 months, based mostly on our view that its relative valuation is dear in comparison with our relative elementary outlook. … .We downgrade TOL to Neutral from Overweight, as following the inventory’s robust outperformance in 2024, up 35% vs. our universe’s common 12% acquire, we view its relative valuation as pretty reflecting our relative elementary outlook.” Barclays upgrades Norwegian to chubby from equal weight The agency says Norwegian Cruise Line is nicely positioned in 2025. “We assume the Cruise restoration is in its sixth or seventh inning and anticipate one other yr of share outperformance in 2025, pushed by outsized pricing energy from extra demand, decelerating provide, upward estimate revisions, and deleveraging/capital return bulletins, and on the idea that valuation remains to be undemanding on an affordable upside case for earnings.” JPMorgan initiates MKS Instruments as chubby JPMorgan says the controlling machine and measuring manufacturing firm is nicely positioned. “We provoke protection on MKS Instruments (MKSI, $7B market cap) with an OW score and a Dec 2025 value goal of $145, implying 25%+ upside potential.” JPMorgan names DraftKings as prime decide JPMorgan says DraftKings is the “the pure-play in probably the most enticing progress market in Gaming..” “We reaffirm our Overweight score and lift our year-end 2025 PT to $53 (from $47). Bank of America upgrades General Mills to purchase from impartial Bank of America stated in its improve of the inventory that it sees an acceleration in pet meals progress. “We improve General Mills to Buy from Neutral and lift PO to $80 now based mostly on 17x CY26E EPS (prior CY25). We anticipate GIS to return to natural gross sales progress at a quicker and extra sustainable fee vs center-store meals friends pushed by 1) re-acceleration in Pet (Blue Buffalo), 2) stabilization in NA Retail (NAR) as dynamics in dough transfer into rear view.” Bank of America upgrades Ciena to purchase from impartial Bank of America stated in its improve of Ciena that it sees better-than-expected progress for the networking firm. “However, traits are turning out higher than we anticipated, with stabilizing demand at North American Service Providers (SPs), and Hyperscalers’ AI bandwidth wants driving accelerated order momentum. JPMorgan upgrades Penn to chubby from impartial The agency says Penn is just too enticing to disregard proper now. “We presently see a positive risk-reward, with sightline to a bottoming of its regional land-based-casino cashflow technology with a path to combination progress given $850m of investments into its 4 retail progress initiatives starting to bear fruit and in the end producing enticing double-digit cash-on-cash returns starting in 2H25 and later into 2026.” Mizuho reiterates Nvidia as outperform Mizuho says it is sticking with its outperform score on Nvidia. “While we anticipate numerous tech distributors will leverage core Generative AI applied sciences to learn their companies (to various levels), the know-how firms which have invested closely in creating their inner AI analysis and growth groups and think about themselves AI-first firms will probably be among the many huge gamers pushing the boundaries of innovation.” Goldman Sachs reiterates Costco as purchase Goldman says it is sticking with the inventory following earnings on Thursday. “We proceed to believe in COST’ s worth proposition resonating with shoppers, and we reiterate our Buy score with an up to date 12-month value goal of $1,052.”
