Thursday's Big Analyst Calls: Nvidia, Netflix, Tesla, Intel Upgrades

Wall Street's latest calls upgrade Prime, Intel, and Coterra, with optimistic outlooks on Nvidia, Netflix, and Tesla's strategic moves.

By Alex P. Chase

5/16, 08:23 EDT
Advanced Micro Devices, Inc.
Coterra Energy Inc.
Dell Technologies Inc.
FedEx Corporation
Intel Corporation
Netflix, Inc.
NVIDIA Corporation
Palo Alto Networks, Inc.
Texas Instruments Incorporated

Key Takeaway

  • Citi, Wolfe Research, and UBS among others upgraded stocks like Prime, Intel, and Coupang, signaling potential investment opportunities.
  • Piper Sandler and JPMorgan set optimistic earnings expectations for Nvidia and Netflix, with specific price target adjustments for Palo Alto Networks and Dell.
  • Wells Fargo and RBC highlight strategic market positions with new initiations and reinstatements for Texas Instruments and Jack in the Box.

Analyst Upgrades and Downgrades

Several Wall Street firms made significant calls on stocks, impacting investor perspectives and potentially stock prices. Citi upgraded Prime to buy from neutral, highlighting a "favorable" risk/reward outlook and noting the company's cash runway into the second half of 2025. Wolfe Research upgraded Intel to peer perform from underperform, stating that their bear thesis had played out but still not seeing enough earnings power for a more favorable rating. Piper Sandler upgraded Quaker Houghton to overweight from neutral, citing multiple levers for upside despite near-term macro challenges. Truist upgraded Coterra Energy to buy from hold, forecasting significant free cash flow generation by 2025. UBS upgraded Coupang to buy from neutral, suggesting the market underestimates its growth potential despite competition. Raymond James upgraded GoodRx Holdings to outperform from market perform, seeing revenue reacceleration. Bank of America upgraded Trupanion to buy from neutral, noting improving margins, and Argus upgraded Wayfair to buy from hold, citing its position to benefit from online home furnishings growth.

Earnings Expectations and Financial Forecasts

Piper Sandler reiterated Nvidia as overweight ahead of earnings, expressing confidence in the Blackwell series to accelerate revenues. JPMorgan reiterated Netflix as overweight, optimistic about its advertising strategy and NFL rights acquisition. JPMorgan also raised its price target on Palo Alto Networks to $340 from $330, expecting the company to consolidate share within enterprise security markets. Evercore ISI raised its price target on Dell to $165 from $140, believing Dell won a significant portion of Tesla’s AI server buildout. Goldman Sachs reiterated FedEx as buy, maintaining its earnings per share estimates ahead of June earnings.

Market Position and Strategic Moves

Wells Fargo initiated Texas Instruments as overweight, seeing the stock pricing in chip cycle recovery. RBC reinstated Jack in the Box as outperform, finding the valuation attractive for growth. Wolfe added Advanced Micro Devices to its Alpha List, favoring it over Nvidia for tactical reasons, though still positive on Nvidia. Bank of America reiterated SharkNinja as buy, expecting accelerating growth for the household products company.

Street Views

  • Citi on Prime (Bullish on Prime):

    "Prime currently has cash runway into 2H25, and mgmt. is conscious of appropriately managing burn."

  • Piper Sandler on Nvidia (Bullish on Nvidia):

    "Overall, NVDA remains our top large-cap pick and we remain bullish that the Blackwell series will provide meaningful acceleration to revenues longer-term."

  • JPMorgan on Netflix (Bullish on Netflix):

    "We remain positive on NFLX following the formal announcement for rights to Xmas Day NFL games and the 2024 Upfront presentation announcements, & we expect to learn more after spending time with the company [today]."

  • Wolfe Research upgrades Intel (Neutral to Intel):

    "With sentiment and expectations lower, we upgrade to PP, but we still don’t see enough earnings power to support a favorable rating."

  • Piper Sandler upgrades Quaker Houghton (Bullish on Quaker Houghton):

    "We are initiating coverage of KWR with an OW rating and a PT of $220. While near term growth is dampened by the macro environment, the company has multiple levers to enhance upside."

  • Truist upgrade Coterra Energy (Bullish on Coterra Energy):

    "We forecast Coterra is on pace to potentially generate $2.5B+ FCF in 2025 setting up a solid shareholder return story even while recently slowing natural gas activity given relatively weak current prices."

  • JPMorgan reiterates Palo Alto Networks as overweight:

    "We remain Overweight rated as we continue to view PANW well positioned within our coverage..."

  • JMP reiterates Robinhood as market outperform:> "Robinhood still represents the closest proxy in the public markets for retail trading activity..."

  • Goldman Sachs reiterates FedEx as buy:> "We remain Buy rated...with minor adjustments.”

  • Evercore ISI reiterates Dell as outperform:> "Our understanding is that DELL has won a large portion of business for Tesla’s AI server buildout..."

  • Wells Fargo initiates Texas Instruments as overweight (Incorrectly stated underweight in quote extraction process; no direct quote provided).

  • RBC reinstates Jack in the Box as outperform:> "Return to growth priced attractively..."

  • Raymond James upgrades GoodRx Holdings (to Outperform from Market Perform) - No direct quote provided.

  • Wolfe adds Advanced Micro Devices (AMD) - No direct quote provided.

  • Bank of America reiterates SharkNinja - No direct quote provided.

  • Bank of America upgrades Trupanion - No direct quote provided.