Top Tuesday Stock Picks from Analyst Calls: Nvidia and More

Tuesday was a big day on Wall Street with some major analyst calls making headlines. Let’s dive into the highlights:

Goldman Sachs kicked things off by initiating coverage on Revolution Medicines as a Buy, with a price target of $65. The oncology company is well positioned for growth according to Goldman.

Next, Goldman also initiated Alkermes as a Buy, with a 12-month price target of $43. They like the biopharma company’s pipeline of products.

Barclays got in on the action by initiating coverage on Ralliant as overweight. The precision tech company is seen as having an “undemanding” valuation, making it an interesting pick in the industry.

Oppenheimer made headlines by reiterating Nvidia and Broadcom as outperform. They raised the price target on Nvidia to $200 per share and on Broadcom to $305 per share.

JPMorgan went against the trend by downgrading SolarEdge to neutral from overweight, citing valuation concerns.

On the flip side, Deutsche Bank initiated Jazz Pharmaceuticals as a Buy. The company is seen as a growth story with a diversified commercial portfolio.

Rosenblatt initiated Gitlab as a Buy, highlighting the software company’s potential for growth and share gains in the future.

Goldman Sachs also got busy by initiating Nutanix as a Buy, believing that shares of the software company have more room to run in the market.

Evercore ISI reiterated Tesla as in line, showing caution despite the noise surrounding the stock.

JPMorgan was back in action by upgrading California Resources to overweight from neutral, seeing value in the energy company.

Wells Fargo reiterated Microsoft as overweight after raising its price target to $600 per share. Field work suggests continued demand for Microsoft’s AI solutions.

Morgan Stanley, however, took a different approach by downgrading Freeport-McMoRan to equal weight from overweight, citing limited positive catalysts for the metals and mining company.

Morgan Stanley also downgraded Ameriprise Financial to underweight from equal weight primarily due to valuation concerns.

Bank of America reiterated Netflix as a Buy ahead of earnings, anticipating in-line results for the streaming giant.

Bank of America also reiterated Meta as Buy, raising its price target on the stock to $775 per share.

Bank of America continued its streak by reiterating Amazon as a Buy, citing the success of Prime Day and consumer satisfaction.

Jefferies downgraded DoorDash to Hold from Buy, reflecting the stock’s strong performance being fully priced in.

Evercore ISI followed suit by downgrading Southwest to in line from outperform due to valuation concerns.

Bank of America took a positive turn by upgrading National Fuel to Buy from underperform, seeing an attractive entry point for the diversified energy company.

Susquehanna initiated Ryder System as positive, noting the trucking company’s potential for growth.

Cantor Fitzgerald initiated Oklo as overweight, recognizing the nuclear power company as a market leader.

Truist initiated Globe Life as a Buy, seeing the financial services company as a durable long-term performer at a discount.

Monness Crespi Hardt & Co went against the grain by downgrading American Express to neutral from buy, citing valuation concerns.

And that’s a wrap on Tuesday’s biggest analyst calls on Wall Street! Stay tuned for more market updates and insights.