JPMorgan upgraded CoreWeave to overweight, citing a favorable pricing backdrop for compute services driven by strong demand and the company's willingness to engage in premium short-term contracts. Bernstein upgraded Quanta Services to outperform, noting improved margins and strong free cash flows that support acquisitions.
Wells Fargo initiated coverage of Old National Bancorp as overweight, anticipating organic growth following its Bremer acquisition. Roth initiated NeOnc Technologies with a buy rating, suggesting the company is nearing a pivotal growth point. JPMorgan reiterated its overweight rating on Meta, raising the price target to $920 per share after the Meta Connect event.
Piper Sandler initiated coverage on Carlyle Group and Ares Management with overweight ratings, while also initiating CNB Financial at overweight with a $38 price target. Citi placed a positive catalyst watch on Royal Caribbean due to its acquisition of a stake in Sandals Resorts. Morgan Stanley reiterated Nvidia as overweight, highlighting its strong product cycle and positive catalysts.
They also initiated Imax as overweight, emphasizing its growing importance in the moviegoing experience. Roth initiated Energy Services of America as buy, citing diverse growth opportunities. Citi downgraded Dropbox to sell, arguing that its current valuation is too high. Wolfe initiated coverage of The Brink's Company as outperform, suggesting significant upside potential.
UBS maintained a neutral rating on Tesla ahead of delivery numbers, estimating expectations between 460,000 and 480,000 units. StoneX initiated BayCom as buy, noting solid loan growth, and upgraded Arcturus Therapeutics to buy based on promising drug trials. Goldman Sachs resumed coverage of Jazz Therapeutics as buy, appreciating its pipeline.
HSBC upgraded Dollar General to buy, raising the price target to $160 per share, while JPMorgan upgraded Welltower and Macerich to overweight, citing growth potential. Truist initiated MiniMed as buy, and StoneX initiated Avidbank as buy, indicating undervaluation. Mizuho reiterated SpaceX as outperform, emphasizing Starlink's role as a cash engine for the company