Top Wall Street Analysts Call

Intel upgraded, Texas Instruments bootstrapped: Top Wall Street analysts call

Wall Street’s most talked-about, market-moving research calls are now in one place. Here is today’s research investors need to know, compiled by The Fly.

Top 5 Updates:

• Updated Wolfe Research Information (INTC) for Peer Perform from Underperform without target price. With sentiment and expectations lower, and shares down 38% year-to-date, the company says its cautious thesis has come to fruition.

• Argus updated Wayfair (W) to buy from Hold with a price target of $83. Home furnishings sales started the year weak, but growth in orders and active users who purchased at least once during the past year should act as a catalyst for revenue , the company told investors in a research note.

• Updated vertical search 3M (MMM) to buy from Hold with a price target of $140, up from $92. The firm still sees “a lot of uncertainty in 3M’s outlook” but believes the risk/reward “now tilts clearly to the upside.”

• Raymond James updated BomRx (GDRX) outperform the market with a $10 price target. The company says that while it has been “skeptical” of the GoodRx story over the past two years, new management has brought a renewed focus to the business that prioritizes creating a symbiotic relationship with its retail network that “has stabilized much better than previously anticipated.”

• BofA updated Trupanion (TRUP) to buy from neutral with a price target of $49, up from $35. Insurance is a cyclical industry and the company believes that a period of insufficient earnings will quickly transition to excess earnings over the next 18 months.

Top 5 downgrades:

• Downgraded reference Cirrus Logic (RAW) to Hold from Buy and removed the company’s price target for the stock. While the company says it appreciates the growth of new content on Apple (AAPL) and remains “optimistic” on the migration to laptops, believes the current share price is reflecting this incremental list of material gains following the company’s latest “beat and raise” earnings report.

• Argus demoted Valero (OVA) to withhold from the purchase. The company’s lower first-quarter profits reflected weaker performance in the refining business, which saw a 12% decline in revenue year over year, lower refining margins falling 40%, and weaker operating income that fell 57%. , the company told investors. in a research note.

• Lowered Lake Street Inactive (NOT V) to hold on buy with a price target of $2, down from $10. The company’s second quarter revenue of $119 million was below consensus and the company withdrew revenue and AEBITDA guidance given its challenges of NHP, notes the company, which points out that the company disclosed in its 10-Q that if results do not improve, a going concern notice would be in order.

• Truist downgraded Western Oil (OXY) to hold at buy with a price target of $69, down from $84. The company anticipates minimal shareholder returns in the coming quarters as Occidental uses most of the free cash flow along with proceeds from the divestment program of US$4.5 billion to US$6.0 billion, to reduce debt to less than US$15 billion.

• Truist downgraded EOG Resources (EOG) to hold on buy with a price target of $136, down from $163. EOG continues to hint at its intention to continue with exploration rather than acquisitions, likely resulting in minimal core additions in the near term, the company says, adding that he believes EOG should now trade closer to its peers.

The story continues

Top 5 initiations:

• Wells Fargo has initiated coverage of Texas Instruments (TXN) with an Underweight rating and a $150 price target. The Equal Sell rating reflects concerns that Texas Instruments may not meet its revenue and related utilization targets, the company told investors in a research note.

• BofA began coverage of Ninja Shark (SN) with a buy rating and a target price of US$90, calling the company a “disruptive innovator” that it believes is poised to capture more market share.

• Barclays has reinstated coverage of Financial Truist (TFC) with an equal weight rating and price target of $43. The bank’s insurance sales and bond repositioning increase net interest income, improve capital, enable resumption of share repurchases, and increase balance sheet flexibility, but the measures also reduce Truist’s diversification, fee income, profitability and valuation “and call risk management into question,” the company says.

• Piper Sandler began coverage of Quaker Houghton (KWR) with an Overweight rating and a $220 price target. While the company’s near-term growth will be dampened by the macro environment, it “has multiple levers to increase upside,” the company told investors in a research note .

• HC Wainwright began coverage of Dianthus Therapy (DNTH) with a Buy rating and price target of $40. The company states that Dianthus’ lead candidate, DNTH103, is a highly potent human IgG4 monoclonal antibody that specifically targets the active form of C1s, an upstream protein that regulates the classical complement pathway.

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