NVIDIA Corporation

NASDAQ Global Select
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Bullish +65

Here are Monday's biggest analyst calls: Nvidia, Apple, Tesla, Seagate, Warby Parker, AppLovin & more - CNBC

AI-generated analysis

🤖 Bernstein reiterates Nvidia with an Outperform rating, highlighting the company as a key player in the humanoid robotics space where its processors act as the 'brain' for robots.

💰 Raymond James initiates AppLovin (APP) with a Strong Buy rating and sets a $640 price target, identifying significant long-term growth opportunities.

📈 Melius initiates coverage on Seagate (STX) and Western Digital (WDC) with Buy ratings, offering two-year price targets of $1,600 and $1,050 respectively, implying ~55% upside.

🚗 TD Cowen reiterates a Buy rating on Tesla ahead of its Q2 delivery report, maintaining an estimate of 418k units with potential upside toward 450k.

📉 Wells Fargo downgrades Progressive (PGR) to underweight from equal weight, citing a rough growth patch due to reduced rating taking in the auto insurance sector.

💻 Goldman Sachs initiates Liftoff Mobile (LFTO) as a Buy, noting the mobile app optimization company has substantial room to expand its operations.

🔋 Citi initiates TeraWulf (TER) with a Buy/High-Risk rating and a $36 target price, seeing data center expansion opportunities for the bitcoin miner.

⚡ Needham initiates Solaris Energy Infrastructure (SEI) as a Buy with a $97 target, noting ample room to run for natural gas power-to-data-center solutions.

🎬 Seaport upgrades Warner Bros Discovery (WBD) to Buy from neutral, viewing deal risks with Paramount as lower and identifying a tactical buying opportunity.

🔭 Bank of America initiates Applied Aerospace & Defense (AADX) as a Buy with a $24 price target, reflecting strong demand in the space and defense sectors.

Bullish Signals
  • Nvidia is reaffirmed as an Outperform by Bernstein due to its strategic position in the humanoid robotics market.
  • AppLovin receives a Strong Buy initiation from Raymond James with a high $640 price target based on long-term growth potential.
  • Seagate and Western Digital are initiated as Buys by Melius with significant upside potential of approximately 55% over two years.
  • Tesla maintains a Buy rating from TD Cowen ahead of earnings, with delivery estimates suggesting upside toward 450k units.
  • TeraWulf is initiated as a Buy by Citi due to visible data center expansion needs in the bitcoin mining sector.
  • Liftoff Mobile is initiated as a Buy by Goldman Sachs, indicating strong potential for growth in mobile app optimization.
  • Warner Bros Discovery is upgraded to Buy by Seaport as merger deal risks appear to be waning.
  • Solaris Energy Infrastructure is initiated as a Buy by Needham given the growing demand for gas power solutions for data centers.
Risk Factors
  • Progressive faces a downgrade to underweight from Wells Fargo due to a challenging growth environment in the auto insurance market.
  • Wells Fargo notes that less rating taking and competitive pressure are creating a tougher growth patch for Progressive.
  • TD Cowen mentions that final days of June can materially sway Tesla's Q2 delivery outcome, introducing some uncertainty to the upside potential.
Full Analysis
CNBC reports a series of Wall Street analyst calls for Monday through Friday, with significant attention given to major technology stocks including Nvidia, Apple, Tesla, and Seagate. The article aggregates initiation ratings, upgrades, and downgrades from various financial institutions regarding these companies' future prospects. Bernstein reiterates an 'Outperform' rating on Nvidia, citing its pivotal role in the emerging humanoid robotics sector. Analysts view compute and software platform providers like Nvidia as key players capable of building strong moats by developing processors that function as the 'brain' for robots, allowing them to process sensor data and execute actions quickly. Other notable analyst moves include Raymond James initiating AppLovin with a 'Strong Buy' rating and a $640 price target, citing long-term growth opportunities. Additionally, Melius initiates coverage on Seagate and Western Digital with 'Buy' ratings, suggesting investors buy the dip with two-year price targets representing approximately 55% upside to current prices. The report also covers mixed signals for other tech giants, such as Wells Fargo downgrading Progressive to underweight due to a tougher growth patch in auto insurance. Conversely, TD Cowen reiterates a 'Buy' on Tesla ahead of its Q2 delivery numbers report, maintaining an estimate above consensus and suggesting upside potential towards a mid-400k unit outcome.