Morgan Stanley has reiterated its overweight rating on SpaceX, noting that the stock is becoming cheaper and has significantly improved revenue and EBIT estimates for 2027. They have also accelerated the timeline for free cash flow break-even to 2031 and reduced projected debt issuance by approximately $280 billion.
Citi upgraded Coupang to buy, citing expected improvements in adjusted EBITDA and a favorable valuation relative to its e-commerce market. Guggenheim initiated coverage of Lockheed Martin with a buy rating, projecting a price target of $735, indicating a 15% upside.
Rosenblatt upgraded Navitas Semiconductor to buy after the company exceeded earnings expectations, highlighting strong growth and a robust backlog. Barclays maintained an overweight rating on Advanced Micro Devices, emphasizing the acceleration in both CPU and GPU businesses.
Wolfe upgraded MSG Knickerbockers and initiated coverage on MSG Rangers, suggesting a higher likelihood of a take-private transaction due to increasing team value and financial dynamics. Truist upgraded Edwards Lifesciences, forecasting continued revenue growth and potential for multiple expansion.
Evercore ISI reiterated Apple as outperform, noting its defensive position amid market uncertainties. Conversely, Citi downgraded Adobe to sell, citing negative catalysts affecting growth estimates, while Morgan Stanley downgraded Flagstar to underweight, anticipating further guidance cuts.
Wells Fargo initiated coverage on On Holding as overweight, predicting growth reacceleration, and Deutsche Bank reiterated a buy on CoreWeave, despite lowering its price target due to financing concerns.
Cantor Fitzgerald upgraded Ouster to overweight, viewing its current valuation as an attractive entry point, and initiated coverage on Netskope with an overweight rating, projecting significant growth potential. Jefferies initiated coverage of Core & Main as buy, highlighting its durable revenue base from municipal water sales.
Northland upgraded Astera Labs following strong earnings, and Oppenheimer upgraded Transcat, citing margin expansion prospects