Here are the biggest calls on Wall Street on Tuesday: Wells Fargo upgrades Eastman Chemical to overweight from equal weight Wells Fargo says the chemical company is “attractive.” “We believe EMN can continue to generate steady EPS growth in this difficult macro, with attractive mid-cycle EBITDA in a recovery.” UBS upgrades Hanesbrands to buy from neutral UBS says the undergarment company is in the middle of a turnaround. “We believe sentiment will improve significantly as HBI’s organic sales growth rate accelerates, its EBIT margin expands, FY25 EPS grows 50%, its net debt/ EBITDA ratio falls to 3.0x from 4.3x in 3Q, and its dividend gets reinstated over the next 12-18 months.” HSBC downgrades Goldman Sachs and Morgan Stanley to hold from buy HSBC said the risk/reward is less attractive. “More positive on fundamentals, less positive on stocks. … We are even more positive today on fundamental outlooks and raise EPS estimates for both GS and MS to incorporate higher investment banking (IB) and asset /wealth management fees and much higher buybacks.” Baird initiates Rambus as outperform Baird says the memory interface chip company is an under-the-radar data center beneficiary. ” Rambus’ technology and IP is central to the AI-driven performance increase in data centers, with first-to-market solutions addressing performance bottlenecks between processor and memory.” Bernstein initiates Royal Caribbean as outperform Bernstein said it sees burgeoning earnings per share growth for the cruise company. ” Royal Caribbean has hit cruising speed faster with its record margins and ROIC by investing in larger ships and private islands.” KeyBanc reiterates Nvidia as overweight The firm says it sees “limited competitive risks” for Nvidia shares. “We maintain our estimates and price target of $180, based on 36x our FY26 EPS estimate of $5.01. We remain Overweight.” Bank of America reiterates Amazon as buy Bank of America says it is bullish on Amazon’s logistics operation. “We think Amazon is well positioned to capitalize on the global growth of eCommerce and other secular trends such as cloud computing, online advertising and connected devices.” Evercore ISI upgrades Zoom to outperform from in line Evercore ISI upgraded the stock following earnings on Monday. “Zoom delivered yet another very solid quarter, marked by consistent operational execution, and impressive momentum across their newer product offerings.” Citi upgrades Chevron to buy from neutral Citi says the oil giant is undervalued. “While Chevron equity has bounced a little in the last 2M [months], it has still substantially underperformed key peer ExxonMobil and SPX through 2024.” TD Cowen initiates Pinterest as buy TD Cowen initiated the stock with a buy and says it is a “margin story.” ” Pinterest is a visual search and discovery platform where users explore their interests, seek inspiration, and browse items they may want to purchase.” Wells Fargo reiterates Starbucks as overweight Wells Fargo raised its price target on the stock to $115 per share from $110. “As news circulates of SBUX exploring strategic options for its China business, we see a no-lose situation, as both JV or spin/sale scenarios could boost LT margins/EPS. P/E sits +19% vs LT avg, but the ’25 bar is low & China de-risk a pot’l catalyst.” Guggenheim upgrades Capri to buy from hold Guggenheim said the owner of brands such as Michael Kors is a “Black Friday holiday stuffer.” “This morning, we are upgrading shares of Capri Holdings to Buy from Neutral given its depressed valuation (versus its historical earnings) and our belief this management team can take steps to increase shareholder value.” Barclays reiterates Apple as underweight The firm says there could be some fallout for Apple due to the Alphabet and Department of Justice case . “While AAPL is not directly involved in the Google/DoJ case, the outcome could have a meaningful impact on its model. While the initial read is fairly negative for AAPL revenues and earnings, there will likely be changes, and also AAPL could back fill lost revenues with its own ad stack over time.” UBS reinstates United, Delta and Alaska Airlines The firm says all three airlines are firing on all cylinders. ” UAL , DAL, & ALK (all Buy-rated) screen positive on all four of the parameters.” Redburn Atlantic Equities reiterates Amazon as buy The firm raised its price target on the stock to $235 per share from $225. “Full-stack vertical integration stands out as a defining advantage, and Amazon Web Services (AWS) continues to solidify its leadership in this area.” Morgan Stanley reiterates Anheuser-Busch InBev as overweight The firm says the beverage giant has “strong cash flows” and is a top pick. “While we cut 2025 EPS by 10%, to 3% below consensus, we still see ABI as the most attractive proposition within beverages given strong cash flows – enabling share buybacks and early debt retirement – and valuation.” Evercore ISI reiterates Foot Locker as outperform Evercore ISI added the stock to its top five list and says investors should buy the dip. “We add FL to our Top 5 Outperform list, and remove GAP after that stock’s run on EPS last week. … .Stock Weakness Based on a Backwards-Looking Focus on Sept/Oct Trends… FL had solid sales in 3Q when it mattered— with a great Back to School.”
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