Analyst call of the day for CNBCPro subscribers: Bank of America reiterates Roku as buy and said it’s standing by the stock in the wake of the Silicon Valley Bank collapse. Subscribe to see the analyst calls of the day curated by CNBC Pro.
Here are the biggest calls on Wall Street on Monday: Bernstein downgrades Lam Research to market perform from outperform Bernstein said the semiconductor company is overvalued. " LRCX is more expensive, and it has been near our target price for some time; given we believe there remains considerable uncertainty around memory it feels prudent to move to the sidelines for now though we continue to like the longer term story.
"Continued high macroeconomic uncertainties have led the company to provide guidance only for H1 and not for full FY24, which it plans to return to in the future."Wolfe downgraded Tesla due to macro concerns.impressive cost trajectory, which should propel impressive growth over time. However, we've also become incrementally more concerned about macro challenges."Goldman said the solar company is most exposed to Silicon Valley Bank, but it's sticking with its buy rating.
"Regional bank risk/reward trade-off improving, and we would get more aggressive on the regional bank side, upgradingRaymond James double downgraded the regional bank due to concerns about the events at Silicon Valley Bank.to Market Perform from Strong Buy. While the bank is better positioned for potential deposit outflows on Sunday evening than it may have been earlier in the weekend, if there are net deposit outflows, it will shrink the EPS power of the bank.
"We proactively lower 2023 estimates below Street ahead of 4Q earnings on 3/22 due to continuing weakness in discretionary, the potential for "trade down" in pet , and EPS dilution from higher rates."Wells said in its upgrade of the banking giant that "goliath is winning."epitomizes our theme of 'Goliath is Winning', which should benefit both offense and defense in these less certain times. We increase ests., PT, and rating to Overweight from Equal Weight.
"While the news should be positive for the stocks, it is unclear to us how they will perform tomorrow. We do think it makes sense to add to exposure here, so of our Holds the most attractive name here for us is
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